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All Forum Posts by: George C.

George C. has started 1 posts and replied 181 times.

Post: Tenants Who Are Foster Parents...

George C.Posted
  • Involved In Real Estate
  • My City, NJ
  • Posts 181
  • Votes 81

I wouldn't say anything, your lease terms for added people are for people (adults) who could still occupy / take over your property if the leased tenant left.

Post: Leasing tiny homes.. Another strategy..

George C.Posted
  • Involved In Real Estate
  • My City, NJ
  • Posts 181
  • Votes 81
Originally posted by @J. Martin:

I've been looking into the possibility of tiny homes, airstream, or something similar as an AirB&B spot to plop down somewhere... Interestingly, someone has got creative, and is leasing out their tiny home to someone who wants to put it on their own land.. $700/mo to rent w/ 1 year lease, and $2/mile delivery fee from down near Santa Cruz, for a 175 sq ft tiny home. So you don't have the up-front cost of purchasing, and what to do with after..

In theory, a building like this could generate income off land/space that is underutilized and has a very low or zero marginal cost. Maybe a small community of these on a lot would be enough to pay basic expenses, and could free up time to go find and make some great RE deals..

@Al Williamson , have you heard of such crazy ideas..?

Anyone else doing short-term rentals on smaller, non-conventional spaces..?
I was also looking at a live-aboard boat as a potential AirB&B, but don't know anything about boats, and maintenance costs..

Jmartin, 

   I had an idea to so something similar, short term Airbnb.

 I have a 36' Travel trailer with a slide out that has a master bedroom with queen bed, a triple bunk room at the rear, full bath & kitchen, heat & air that sits most of the time. It's a 1993 and defy anyone to come and point out any wear or worn areas or items, it's in near new condition. I have a couple of acres and can easily set up an area for short term camping basically in my back yard. I'm an hour away from NYC. I'm in an area of natural beauty, lakes, waterfalls, orchards, wineries, mountains & the Appalachian Trail. Locally you could find a cheap motel for $60-70 a night, but a camping set up would be more in tune to what people come out here for. My trailer in it's own private spot would be much more attractive over a motel room and the crowded state park camping... and besides it would already be ready to occupy, no need to set up camp. I'm thinking $100 a night, $125 each for Friday & Saturday to include fire wood. I thought to do Airbnb and maybe direct advertising to NYC area Craigslist. It's just a thought that crosses my mind now and again, could even have my kids run it as a business, do the cleaning & set up. I can easily see $600-800 a month coming in a good part of the year from this.

Post: Pest control

George C.Posted
  • Involved In Real Estate
  • My City, NJ
  • Posts 181
  • Votes 81

@Shari Posey 

I use the green blocks, I was told it uses a vitamin K ( blood thickener) as it's poison. All it takes is one single nibble from a mouse / rat and it starts to get very thirsty, they then go outside looking for water & die outside as their blood starts to gel. I would say most times after we never had the dead smell inside, and if you do, it's gone in a week, but so are the mice. I always put a couple of blocks behind the kitchen range & fridge & laundry machines, never where a visiting toddler might find it. I buy a bucket of them at Tractor supply.  I throw a couple of blocks in the camper to keep them out over the winter.

  For creepy crawly things I you DIY pest control dot com and spray when needed, very easy & cheap and works good. 

Post: Old gas station property ?????

George C.Posted
  • Involved In Real Estate
  • My City, NJ
  • Posts 181
  • Votes 81

I was told many, many years ago that old gas stations would make good locations for pizzerias, bagels, etc..  I know I've seen plenty of former gas stations turned into great food venues.

 My guess about the future what if's about toxins, let your corporation or llc buy & own it, wouldn't that keep it away from you personally?

Post: House Vandalism, Steps and measures

George C.Posted
  • Involved In Real Estate
  • My City, NJ
  • Posts 181
  • Votes 81

I make them look not empty. I put cheap mini blinds up, newspaper on the porch, kids toys, bike in front & leave a car in the driveway. I always do this when buying or remodeling, not just for vandals, but for insurance purposes. If your insurance company comes around (and believe me they do) and see the house is empty of 30 days they will either cancel your insurance or charge you for empty structure rate ( which is a lot more money).

I've done this with REO props that I had under contract too, I've changed the locks & taken off the lock boxes, once I knew the deal was solid.

  This might not work in bad areas, but will work in decent areas.

 You could rig up a battery power & timed light / radio inside if there is no power on at the property, all goes to help with the look of occupancy.

Post: How can I un-own a property ?

George C.Posted
  • Involved In Real Estate
  • My City, NJ
  • Posts 181
  • Votes 81

Stephen,
 
 Wow, that terrible...

 I assume you have your drivers license out of Florida? If so, I would "assume" that they could only suspend your driving privilege in NJ, is that correct? What happened on the side of the road when you were pulled over, you weren't arrested & towed were you? Did they let you drive away without any tickets? 

  I would do something to get it out of your name. An entity sounds good but that wouldn't remove what's already against you, would it? 


Originally posted by @Stephen S.:

Let me expand - 

I will happily give this house to anyone.  In fact;  I'll pay anyone $100. to take it.  How about you?  Be a quick $100. for you, eh?

I have already quit claimed it to people. But no one has ever taken it. No one wants it. Tax liens and water/sewer liens are probably double the ARV and running at 18%.

This city is the barely walking dead.  It really has no reason to exist.  It has tens of thousands of houses in the same and worse situations.  The city itself refused to take this house back.  And told me point blank:  Why would we want it?  We're not letting you off the hook - then who would pay us?

They tried passing a law which made the owners of the houses personally liable for all liens.  That was later struck down by a higher court - so they countered with  "enforcement of untidy lawn ordinance"  punishable by whatever the judge decrees.  Which can include jail time, garnishee of wages, or . . . revocation of the owner's driver's license.

That has already happened to me.  All notices went to the property.  The tickets went to the property.  The summons to go to court was served at the property.  All obviously went unanswered and I was eventually convicted in absentia.  One day I was stopped for driving on the revoked list - there was a warrant out for my arrest.

Crime?  An untidy lawn.  Fines:  $5500. plus court costs.

stephen

-------------

Post: Realtor gave our lock box code away

George C.Posted
  • Involved In Real Estate
  • My City, NJ
  • Posts 181
  • Votes 81

Scott Pigman,

My guess is the people who used the agent's access (with or without permission) was probably a relative of the agent, and they didn't want to give the agent's real name to you knowing that being caught is a bad thing for that agent.

Post: Thinking about getting my conceal carry....

George C.Posted
  • Involved In Real Estate
  • My City, NJ
  • Posts 181
  • Votes 81
Originally posted by @Ryan Dossey:

I think I am going to get my CCW. I have several guns and dozens of hours at the range. Given the fact that I am often meeting with people that I met online and showing a house I think I would feel more comfortable. I carry a Benchmade a/o knife that I honestly use as a tool but could be a "worst case" scenario life saver. Do any of you guys carry? What is your gun of choice? I know for some this is a touchy subject but I just figured I'd throw it out there. Salesmen at my local gun store said they have had a hard time keeping guns in stock after all of the Ferguson violence.

I'm jealous of your second amendment rights, here in the not-so great state of NJ, that particular right to carry doesn't exist, youee the Constitution stops at our border with PA. 

  Better safe than sorry, I'd cc if I could. I have a Star 45 semi auto.

This is a new one on me & I call BS...

I would do exactly what, Bob Bowling said to do about a welfare check with the cops to have that in a report that the place was emptied out.  Then I would go forward on the premise that it is abandoned, get it re-rented and bill the MIA tenant and YES collect a judgment. He might not be collectible today or tomorrow, he maybe two-four years from now. It's very easy to get a judgment, it costs very little and a morning waiting in court. For what could easily be $2-3K in past due rent, utilities & repairs, getting the judgment is a very small investment.  

Post: Feeling bad, Older tenant, Under market value

George C.Posted
  • Involved In Real Estate
  • My City, NJ
  • Posts 181
  • Votes 81

I'm a bird in the hand type guy as well, I'd take the offered extra $25 though. I've rarely ever had a magical turnover that didn't either take time to get it rented or needed some $$ to make rent ready again. Would you have to invest money to re-rent it to someone else. repaint, new stove, etc? If so, I'd let her stay another six years and bump it up gently. After six years renting, I'd be willing to bet that you would have to repaint the whole place. She may take care of the place and it looks ok, but when it's empty it'll look a whole lot more tired paint / flooring wise.