All Forum Posts by: Mark H. Porter

It’s not even part of my calculation.  Met cash flow, net cash flow, net cash flow.  Anything beyond that is because of my future actions.

Whether I’m up here in the northeast or down at the beach in the southeast, I look for their income and expense statements broken down by current monthly rent per unit and current expenses.  I never have to investigate beyond checking out craigslist or Zillow for what “like” units are going for.  It’s

Much easier than you think.

Many of us are going to say the same thing - LVP - luxury Vinyl Plank

Here in Burlington, VT we have escalating rents because supply hasn’t kept up with demand.  Burlington has also made it nearly impossible to build large multi-family complexes as historical rules seek to protect existing housing, most of which were single family turn-of-the-century houses that have turned into apartments in the same shell.  This has led to a <3% vacancy - ripe for landlord blame and wish for rent control.

in this wonderfully progressive state, property taxes alone are 23% of my gross revenue.  I’ve told the fledgling tenants union this and they simply don’t care.  Landlords are bad.

Here in Vermont we can call he fire chief who can issue a violation and fine.

Hi Shawn, not up here.  The legal aid here in Burlington will look them in the face and ask if they’re current on their rent. If the answer is no they won’t touch it unless the landlord has not provided the necessary services (ability to heat to 60,  water services, door is able to be secured, no safety violations).

Housing folks up here will not defend a bad tenant because they don’t want landlords to why fis on their clients.

I wouldn’t ever talk to their attorney again.  Get a good lawyer who does evictions and file immediately for eviction wi the all monies due and make sure the housing authority knows.  She will lose her voucher if she gets evicted.  Your eviction attorney can tell her attorney that you are now represented and all correspondance must go through them.

One other thing bothers me.   She has the money for an attorney but qualifies for section 8?  No legal aid is going to go through all this to the is level.

We require tenants to turn the apartment back to us the same way they got it.  Cleaning and repairs to make that happen all come out of the deposit.  Also, I would hold back the amount equal to the rent they had committed to.

I'm buying STR's in beach areas. Right now the wealthy are going to Europe and the Caribbean for vacation. "You know what" hits the fan and they'll just decide to stay stateside. 2008 was a beast in areas of vacation-area speculation - studios that people paid $185,000 for after seeing them at $100K the year before then were at $50K in 2009. It also took a LONG time to recover to the point where buying was attractive, about 7 years.

This is why you need to buy right - low price, low rate, and perhaps sellers money back at closing for repairs/rehab.

I always buy the deposit back to the person(s) that gave it to me.  If you are making deductions due to common areas then all should see he deductions evenly.