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All Forum Posts by: Eric Burgh

Eric Burgh has started 3 posts and replied 44 times.

Post: Am I crazy to self-manage from afar?

Eric BurghPosted
  • Real Estate Professional
  • Hoboken, NJ
  • Posts 46
  • Votes 26
Consider your flexibility as well. 4 hours is pushing it but fine when you can schedule in advance What about when it’s spur of the moment emergency ? I’d do it bc im hands on , do repairs myself, and my job is typically flexible except a few times a year. In those cases though I know I have people I could rely on that I trust, and fall back would be ppl local to the property I can trust. No one is going to care about your property more than you do, unless you’re willing to pay a reputable person well, and they aren’t usually cheap

Post: Are you prepping for the crash?

Eric BurghPosted
  • Real Estate Professional
  • Hoboken, NJ
  • Posts 46
  • Votes 26
I’d expect a correction and not necessarily a crash. But to be fair, who here really saw the crash of 08? It was all rosey and even those in the real estate investing game and realtors that I know of lost money or their homes, no one really saw it. I think some people did question the abnormally high real estate pricing though, which at this point we’ve surpassed those numbers in terms of what homes are selling for.

Post: Is "Cash for Keys" ethical? Thoughts?

Eric BurghPosted
  • Real Estate Professional
  • Hoboken, NJ
  • Posts 46
  • Votes 26
While we’re taking about cash for keys, is this a legal method or brought up off the record and in person ?is the offer made in writing or show up and wait until hey leave to pay out

Post: New to BP, looking to invest in NJ currently in the Marines.

Eric BurghPosted
  • Real Estate Professional
  • Hoboken, NJ
  • Posts 46
  • Votes 26
Higher cost of entry but bring your home state you should have a better idea of the different towns and what to expect. I trust my own word and research more than someone from Minnesota , etc. plus I’m hands on and doing repairs myself, or if I hire out no one can string me along and overcharge for the job

Post: Now (post-sale) plumber is asking for much higher than we agreed

Eric BurghPosted
  • Real Estate Professional
  • Hoboken, NJ
  • Posts 46
  • Votes 26
Time to start asking questions. Get details on what the plumber thinks is the issue, remedy, and cost. Then get another quote for peace of mind and let the original plumber know you’re doing so . At $9k plus sounds major and like running a new sewer line. To be fair to the plumber, surprises do come up. This is why it’s important to have someone you trust. Get another opinion and do t play hardball with them, bc if you force them into this and they don’t make money you’re going to get a patch job, and since you don’t know anything about plumbing I wouldn’t recommend going that route.

Post: Should tenants get a one time reduced rent

Eric BurghPosted
  • Real Estate Professional
  • Hoboken, NJ
  • Posts 46
  • Votes 26
They could have been a real pain in your side with this dragging on for 5 weeks during summer. I’d do something as a token of appreciation. Everyone wants to be a hard *** and say it’s a business, so cut no breaks ...we’ll business is also built on relationships over time and respect. Show your appreciation and next time there’s a problem, maybe they’ll give you some time to fix so you don’t get slammed with emergency repair pricing.

Post: Do people ever learn? (Memphis market observation).

Eric BurghPosted
  • Real Estate Professional
  • Hoboken, NJ
  • Posts 46
  • Votes 26
This thread was a refreshing read and down to earth. Lots of information on this site, but the band wagoning and “great job! Go get em” responses on the ”0-100 doors in 100 days “ posts is geTTING old, and quite frankly uninformative and provides no value.

Post: Should I Settle for an 8?

Eric BurghPosted
  • Real Estate Professional
  • Hoboken, NJ
  • Posts 46
  • Votes 26
@Branden Sewell. If you buy the single family and IF it goes up in value, then so wIll the cost of a duplex, unless you do a value add / fixer upper Most ppl here won’t bank on speculating or appreciation.

Post: Does a landlord need a pickup truck?

Eric BurghPosted
  • Real Estate Professional
  • Hoboken, NJ
  • Posts 46
  • Votes 26
@Josh Lyons I did a whole house rehab using a grand Cherokee and got by. After that was done I decided to spring for a cheap f150 and it was one of the best decisions I’ve ever made. Granted I use it occasionally for my day job working in event production, and keeping up with my personal house projects and a few rentals, but it’s so practical, and for longer trips we just use the car. If you DIY and do your own repairs, go for it. Just don’t spend a ton of money bc it will get a bit beat up.

Post: Cat Pee House from Hell!

Eric BurghPosted
  • Real Estate Professional
  • Hoboken, NJ
  • Posts 46
  • Votes 26
If you’re already down to the studs why not go all the way and toss the subfloor too. If you have serious spotting and stains the subfloor may even have swelled in those spots and be high anyway. Unless of course if you have a really big floor plan and a lot of walls to cut around. Other than that, we had a house once and the previous owners had a ton of animals. Everyone thought we were crazy and wouldn’t get rid of the smell. Lots of cleaning products , vinegar, bleach later, it covered up everything. Didn’t have to rip out the hardwood floor or anything