All Forum Posts by: Harvey Greenstein

Kyle

I believe you can put in your lease the security deposit is forfeited if they break the lease early. 

HGG

I would not accept a year in advance. My understanding is that it will be difficult to evict if you need to once you cash the check.

it sounds like it is abandoned to me. Therefore, invoke the abandonment clause of your lease, which I hope you have in your lease. 

Do not let them turn off the utilities, instead transfer them in to your name. If the utilities are shut off, then the utility company has to inspect the property before they turn them back on. 

Welcome aboard. If you haven't figured it out already you should setup keyword alerts. They are very helpful. Let me know if there is anything I can do to help you.

I invest in homes around RU and rent primarily to students looking to live off campus. I am considering doing the same around the College of New Jersey since New Brunswick is getting to costly to make the numbers work.

Good luck

Harvey

welcome aboard. In what type of investing are you interested?

Jeff Baumley. I believe he has a princeton address. they are grreat

A few things to think about. The most I have been able to get in rent is $500 a person around RU, and that is only if it is within walking distance to a RU bus line. Most kids want to live around the night life which is Easton Ave. You can get students that want a quieter life further from campus but not at over $500 per person. 

I don't see how you are coming up with positive cash flow, maybe you are missing repairs , lawn care, and administrative cost. 

I would like to hear about peoples experiences investing in townhouses as a buy and hold investment. I am looking for some help thinking through the pro's and con's.

Harvey Greenstein

Bill

You are on the money. I had this situation not long ago. On the day we closed I met the current tenants, told them I was bringing the place up to market value. They wanted to stay so they signed the lease that week. A few weeks later they got a third roommate.

Harvey