All Forum Posts by: Fred Grant

I second the vote for Stacey. Her office is based right in the heart of Woonsocket. 

I thought I had it bad this month with the 12 vinyl windows that the tenant destroyed by screwing them shut. I have nothing to complain about compared to this.

Dominique, send me a private message and we can discuss this further, I have a number of properties in Woonsocket and I am looking to acquire more.

Water and sewer.

The "correct" answer is that the rent is due on the due date.

However, annoying though it might be, you could just accept that they are always a week late and assume you will always get it on the 22nd. Every now and then they will mess up and you will also get a late fee. 

The key is to keep the money coming in each month. They do pay (a week late) each month so you are meeting that objective. 

I think you should definitely post on AirBnB unless you like the thought of them making more money than you while you are getting them out.

Presumably they are keeping the place in good shape though for their guests so that is a plus. (too soon for jokes?)

His only confirmed income is $2.13 per hour. You can't count the tips as they are not guaranteed.

Even without all the other flags, you could reject just on income.

I would love to hear how he would spin the answer to the question "are you really trying to tell me that a skycap making $2.13 per hour was asked to relocate? Is there such a chronic shortage of skycaps in Nashville that we have to import them from Florida?". However, I don't recommend you waste any time asking.

Keep showing the apartment and hopefully it will be rented for the 1st of the month.

Looks good. I will have to remember this.

Offering $80,000 less does make it look like you will have paid the same price if you end up having to do this. However, I assume you are financing this as you mention 25% down.

If you put 25% down on on the new price of $260,000 that is $65,000. 

Let's say you put the $20,000 difference between the old down payment and the new one to one side and 5 years from now you have to put in the new systems. The first one can be paid for with the $20,000 you set aside but you will have to find the other $60,000 from somewhere. Will you be able to find that money? Unless the building has gone up in value substantially, you are not going to be able to refi enough to cover the cost of the new systems. How will you find the money? That would be my biggest concern.

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