All Forum Posts by: Michael Craig

Yesterday was the day (finally) the sheriff came to evict my inherited tenant! Upon his leaving, the tenant asked when he will be receiving his security deposit (I couldn't believe it).  In my leases, I include that the tenant is responsible for all repossession fees. Because he was inherited and has been living without a lease for over 10 years, am I entitled to the repo fees?

What crazy eviction stories do you have!?

Steven, a good thing to know when buying an investment property is who is your agent and does he/she specialize in the type of investment property you're looking to buy (assuming you decide to utilize an agent).

@Alexander Felice Sometimes I want to rush to comfort, taking the easy way out - especially with everything else going on. Great questions I have to ask myself. Side note - Initially I thought "21% reduction in price" was your rule of thumb.

@Joshua Tobin it is a very nice location, it is very slow this time of year though. Good advice utilizing time now to spiffy everything up. Do you have any properties in Saratoga? 

Brian, that is a very useful tactic however, there is a huge discrepancy in the bedrooms and bathrooms that it wouldn't be fair for one of the tenants.

Alex, where does 21% come from?

Hello All, I am a new house hacker living in Saratoga Springs, NY. I have a two bedroom unit that will be available mid 11/2017 and I want to make sure I fill it with a respectful tenant. The market is slow at this time of the year and I have not had much success with finding tenants (Utilizing an agent have it listed on Zillow and Craigslist). 

My unit is listed at $1,400 a month (confirmed to be a competitive price in this market by two active agents and $1,400 is $200 under Zillows estimate). 

I believe I found a respectable tenant (steady job, great references, etc), however she states her budget does not allow her rent to exceed $1,100 a month. 

Do I let her move in for $1,100 a month or do I risk the unit going vacant until the busier season (February-September)?