All Forum Posts by: Chris Masons

LOL, hey @Account Closed who the heck calls a broker to make trades???? LMAO!!! Smart investors have stop loss trades  already in place at limit prices if they are short term investors but that is not me

And for the record, for us long term investors today was NOT a sell day but a buy day indeed!!

Focus on quality companies with wide moats under valued and on sale for the long term and ignore the short term noise. Don't believe me? Ask Uncle Warren!!

regards

Chris

@Donald G McCartney I couldn't agree more with your last few posts. Very well said. I have a balanced RE portfolio throwing off income and appreciating as well as a solid dividend paying stock portfolio doing the same.

I am  true value investor always looking for a margin of safety whether it be in real estate or the stock market. I am a long term investor looking to accumulate wealth.

Chris

Securities and Real Estate are two totally different animals. While I prefer Real Estate I still have a nice sum of capital invested in the markets paying me dividends and slow and steady growth. Can the market crash sure, as can the RE market, HOWEVER, if you are in for the long term which any investor should be in my opinion this won't matter as things recover and dividends continue to be paid if you choose to partner with the right companies...

Chris

I echo the sentiments of others here... the lease is signed so now you just need to stand up to her and let her know that it is YOU who run the show not her. She may be testing you and If you give into her now she will continue to walk all over you throughout this tenancy. Put your foot down now and set an example of how things are done.. IE. she cannot just make unreasonable demands and expect you to fulfill them.

You mention California is a very tenant friendly state and I see you are in Milburn. I grew up in Springfield, NJ and live in Watchung currently.

Are the laws in California more tenant friendly than they are here in NJ? If yes I Am just curious to see how so as I thought NJ was very tenant friendly..

Thanks and good luck neighbor!! 

Chris

@Dennis M. could my insurance company potentially sue me? That doesn't make sense to me.....

@Jason Bott  Thank you for this info. I am not sure if he had renters insurance or not but I have e-mailed him instructing him to file a claim with his renters insurance.

Could this potentially go to court? I would think insurance company would have a hard time proving he was directly at fault (although I think he was based on what I was told and have seen) I realize this really doesn't involve me but am just a bit  intrigued by this whole subrogation process and find it a bit fascinating for lack of a better word.....

Thx,

Chris

So an interesting is happening in my little Real Estate world currently.... couple months ago I had tenants moving out who apparently didn't shut off waterline to fridge before moving it and as a result had a flood in basement... I ended up keeping security deposit and filing a claim for damage ~ 11k damage IE. carpets, molding, ceiling - primarily in finished basement....

Fast forward to yesterday I get an e-mail from my former tenant stating that my insurance company wrote him a letter and says he owes them 11k for causing a flood in my house! He wants me to tell insurance company the matter has been settled by me keeping his security deposit.

He  (my former tenant) is saying that since we both agreed I would keep his security deposit he considers the matter settled... But I guess not so fast as the insurance company wants him to pay back their loss they covered for me?

Is this a common practice for insurance companies to do? Has anyone had this happen or have any experience? If this goes to court I assume I will be called as a witness for the insurance company? Also I am really wondering how hard and litigious  the insurance company will pursue my tenants for? Seems they will have a tough time proving this? I wonder if they are just sending the letter as half hearted effort to see if they can collect, OR  will they pursue this aggressively?  Doesn't ,matter one way or other to me as I have been made whole by them already I am just curious to this whole process as I have never seen this happen before. I also will say this is the first claim I have ever had to file with my insurance company...

Would love to hear others thoughts and experiences with this?

thx,

Chris

After 10 hit up your local mom and pop bank for a loan. They aren't Governed by Fannie and Freddie as they will keep the loan on their balance sheet... Usually terms are very close if not equal to what you would get with a Fannie Mae loan....

If you are investing in the banks backyard that is even more favorable to them I have found...

Chris

Paul,

I have been looking into HML for a few projects and I am finding about same terms as you 10% 2 points upfront, 1500 acquisition fee...

how much are you looking for dollar wise?

thx,

Chris

Michael,

An Umbrella policy only kicks in when your primary insurance has been exhausted. So.... the higher your primary insurance is  IE. 300, 500k, 750k  the less likely the Umprella policy will have to be used therefore reducing your premiums somewhat.

Does this make sense to you?

thx,

Chris