All Forum Posts by: Michael S.

Regarding open houses for rentals..

I am against a blanket 12 to 4 type open house becuase the last time I did that I had the first potential client show up at 10:30 becuase she really wanted the place, but besides her, everyone (All the other 8 perspective renters) showed up between 12 and 12:45 . I had everyone fill out an application and was left waiting for the balance of the time just in case someone was going to show up. I now schedule 2 or 3 people for the same time slot and ask them to wait if multiples actually show up. It's quicker and you get about the same turn out.

Ingrid:

The property I was writting about is in NY and I was informed that the owner did appeal them himself last year and got them lowered from 10k. His deduction certainly helped the situation but the current taxes are not anywhere near where comprable properties are at. I have been mulling the idea of presenting a lower offer than I normally would, but becuase of the current taxes and it's current condition, I'm still on the fence if I want to get involved. I am sitting on the side lines and observing.They have already dropped the asking price twice in the last 3 months. As far as the Jersey attorney is concerned, I would love to have that information for potential future use.

I think I would have sent the tooth to one of the cash for gold sites.

I woulsd have used a shovel on the toys, I probably would have kept he dentres as a curiosity conversation piece also, but I have to commend you on the excellant recycle of the obese wheel chair. I have never seen one, do they have extra wide wheels and hydrolics for seat support?

What is the weirdest thing your tenants have left behind in your property and how did you deal with it?

There are two items that are tied and they are sanding and deaing with cloged plumbing fixtures, ie years of hair in the shower trap only discovered after tenant moves out. I never have encountered someone leaving behind a pet, mostly becuase I do not allow pets, but I agree that they should be flogged and put in prison.

The town the above mentioned property is located in only does grievences once a year in early May. (Very convenient for them) To even get a hearing, you need to present them with an independent property appraisal, so I can't use the one I would be given if I were to purchase it, then I also have to provide them with 3 recent comps to just get the ball rolling. I am just afraid that they won't be realistic with their evaulation becuase they are cash strapped and are banking on the fact that it costs significant money to get reevaluated.

I would like to hear about your success and or failure to get a lower property assesment. I am looking at a fourplex that has insane taxes for the area it is in. It's current taxes are about $8600, . I am told that the current owner had them lowered from 10k. Similiar properties are being taxed around 4k. The realtor said" You should be able to have it lowered about 1500 if you ask for a reassement". Even if I would be succesful in lowering it 1500, it still is too high.

I know I can go appeal the taxes myself, but am wondering if I would be more succesfull with profesional help. Are there lawyers that special in this? Can anyone recommend a strategy to
hat would almost guarantee a serious reduction for these property taxes ? I am hesitant to move forward with this big unknown.

http://finance.yahoo.com/real-estate/article/107508/4-signs-your-home-is-about-to-lose-value.html

Besides the fact that this article fortells a boom in REO inventory, it gives intereting insight into how an REO could negatively impact the value of your investment properties, so I shared it.

:D Eddie: I wantd to thank you for posting the price of the Goodman unit. I did not realize they were so affordable. After some research, I have found the same Goodman for $525 and will be purchasing it for a replacement. Once it is delivered, I will find somoene to install it. (I am not affiliated with this site, I just wanted to share the really good price.)

http://www.acfool.com/product/GoodmanFurnaceVERT