All Forum Posts by: Alan Brown

@Eric Hrlbock and @J.R. Coffin that sounds pretty great.  Whenever I go to Poughkeepsie I'm never quite sure where to start!   Will keep in touch, and PM y'all.  On vaca from this weekend through the next one, but maybe after that! 

thanks!

I'm in! -- I have some other friends from Brooklyn that are focused on the Newburgh area-- like @John Hickey, and am hoping to catch their next meet up.  John, sorry I missed the last one... when and where is the next?  

@Eric Hrlbock, @Michelle Phelan, @Account Closed eloquently puts it, FIND DEALS!  the money and partners will come.  Find me a deal and I'll probably partner with you if you work hard... some percentage of a deal is better than no percentage of no deal.

Sorry, trying to cut back on the coffee.

I'm with @Steve Milford-- I got into Real Estate in '93 because I wanted to learn how to buy my own property--  found sales and loved it, made a bunch of cash and was an expert in my market, so was able to grab properties at excellent value.  Saving commissions here and there was a drop in the bucket compared to the education and the understanding of my market and it's appreciation...  That being said, I often used my commission to purchase properties:  properties I didn't have a buyer for, so a commission I wouldn't have received if I DIDN'T buy it!!  I felt like I was getting paid to buy!

Jeeeez, @Jay Hinrichs, that's good information!!  holy cow something like that could bite you in the butt.  Especially on a butte over the Colorado River.  BTW I've appreciated all your wealth of knowledge on BP over the last few years (AND the Hero's Home project).  I've spent a lot of years in MT, and if you ever need an aquisition guy in MT, let me know and I'll move back there!

@J.R. Coffin, I'm interested in anything "tiny house"  and am currently looking for investments in Mass and NY, (or CT or VT, or MT for that matter!) so if you or your investor are looking for moral support or even capital, I've got lots of the former and a little chunk of the latter! 

yuk!  Thanks @Marelyn Valdes!  That's sobering!  I'm glad you dodged that bullet.

Thanks, y'all, sorry I got a bid overrun at Holidays, but I do so appreciate your feedback...  

@Amy Beth,  I did have to sign a waiver with my insurer:  they won't be liable, but I will... My agent actually suggested that I would most likely easily prevail in court, and that, if the tenant got Liability coverage for me of at least $100k, that would cover my legal expenses...none of that really gives me the warm fuzzies...

 @Andrea Townsley I'll be talking to her liability insurer to find out what, if any real coverage I would get from her renter's policy... and my lawyer.  It turns out she's actually due in 2 weeks... I probably will have to get her out, but I can't do it now, till she's physically strong again.  It's a 3 story walk up, so she's probably got to find something easier for living with a baby anyway!

 I'm afraid I have too much empathy...my wife def agrees with you guys:  "we've been burned too many times by your empathy!!"  she's right...  STill,  even good people do dumb things, and if everyone who ever told a lie was a liar forever, there wouldn't be any one left!!  I once had a cat that the landlord didn't know about when I was a kid, so I guess I feel a little hypocritical!  Maybe I need a therapist instead!  

and @Kevin Hart, thanks for the ideas... I would like to change insurers anyway, as my agent is not terribly pleasant!

jacsksongov.org and it's called BOE market value appeal application is what you want to fill out and send it in by Monday July 8, 2019.  

@Dennis M., ever been sued?    I have, 2x, by people whose lawyers  saw someone with a few buildings and figured they have lots of money.  We won both times, easily, but not without 2-3 years of waiting for the next letter from ambulance chaser lawyers, depositions, travel to the out of state property to testify, always with a niggling feeling in the back of your mind.  

Plaintiff doesn’t just go after the tenant with the dog who has nothing.  They go after everybody who has any connection with that tenant.  Me, property manager, the neighbor who opened a gate by accident.

Can’t imagine how that would be without insurance, which in each case paid over $100k in our legal fees.

I have a pit mix myself, sweetest dog in the world, but nervous around kids.  I’m lucky to have insurance for that liability... that company doesn’t do investor buildings.  

I’ve seen two different occasions where children were playing with dogs, a lab and a schnauzer, and the dogs were having fun until they got over excited and confused.  Kid puts their face too close , dog jumps and bit them in the face.  Neither more than a small scar, but both could have been disfigured:  think about how a jury comes up with a settlement:  a future life of unattainable  glory because of that split second.  Child can’t be a CEO, so parents sue because they lose $100 million a year for a 20 year career and child may end up, you guessed it, renting.  I might be glib and this seems ridiculous, but that’s exactly how it happens.

I love insurance and I’ll err on the side of caution, thank you.

WOW, @Patricia Steiner,  thanks so much for the comprehensive plan!! I have been pretty non committal about it, because I don’t want her to move, especially in her condition...

You’ve given me inspiration and I’ll get after it!

Thanks!