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All Forum Posts by: Michael R.

Michael R. has started 43 posts and replied 274 times.

Post: Bedbugs - Yikes!

Michael R.Posted
  • Real Estate Investor
  • New York
  • Posts 313
  • Votes 87

Where I invest the health dept will hold the owner responsible for extermination. The inspector told me I have to remedy the problem and can bill the tenant if i wish.

It like if a tenant breaks a window. I would have to fix it and bill the tenant. If not the city will write me a violation.

Post: Duplex or Triplex?

Michael R.Posted
  • Real Estate Investor
  • New York
  • Posts 313
  • Votes 87

I am actually buying small 3 bedroom singles now. The doubles make a little more money each month but I have more turnover and less quality tenants. Also the tenants complaining about what the other tenant is doing gets annoying. Singles have less taxes as well and it is less to get rent ready.

Post: Bedbugs - Yikes!

Michael R.Posted
  • Real Estate Investor
  • New York
  • Posts 313
  • Votes 87

I had the same situation a few years ago. Tenant was in the house (a single family) for 7-8 months and complained of biting. They did have lots of bites all over their bodies. I hired an exterminator ran about 750$. She wanted me to buy her all new furniture but I refused as she had been living there for 8 months with no problem so it was obviously brought on by herself or family. Claimed they were going to sue me and moved out but I never heard anything else. I didn't want to hire an exterminator because I felt it was not my fault but I wanted to try to do the right thing and felt it would make me look better in case of litigation. Once she moved out I bought some commercial sparyer online and sprayed the whole house and left empty for one month. Have not had the problem since.

Post: Home Depot Question

Michael R.Posted
  • Real Estate Investor
  • New York
  • Posts 313
  • Votes 87

Ok great thanks for the help guys. Will they take the 10% coupon over the phone?

Post: Home Depot Question

Michael R.Posted
  • Real Estate Investor
  • New York
  • Posts 313
  • Votes 87

Any one know if I can send my contractor to home depot and let him pick out all the supplies he needs and if they can call me and I can pay with my credit card? I dont want to give him my card and I want to put the materials on this card.

Post: Can I evict this tenant?

Michael R.Posted
  • Real Estate Investor
  • New York
  • Posts 313
  • Votes 87

Dont fix any problems for her. Dont return her calls and they will issue her moving papers.
Why was housing calling you though if they have not received her paper work yet? In my area you sign the lease and the tenant is responsible for submitting it to sec 8. After I hear from the case worker I will then allow the tenant to move in.
Seems like some complaints maybe valid or typical though. Make sure you clean up the trash after your contractors. Some new tenants of mine have problems with the heat or oven. Usually I have a few calls in the first few weeks after they move in but then it evens out.

Post: Problem with Human Urine in Hallway with 4 families

Michael R.Posted
  • Real Estate Investor
  • New York
  • Posts 313
  • Votes 87

Can you install a automatic air fresher in the hall outside his apartment? is the smell just outside the door?

Post: BofA to slash mortgage balances by $100,000 or more

Michael R.Posted
  • Real Estate Investor
  • New York
  • Posts 313
  • Votes 87

I agree with Jon. I rather see these people who made bad decisions loose their house. I know people who havent made a mortgage payment in over 2 years and are still living in their house. Now they with get a discount on what they owe?

What if the values go back up in the future? Will they have to pay back the bank based on the new value? I have a hard time thinking we have to help out these underwater people but when there is appreciation no one complains.

Post: Is the contracts provided by Freedomsoft legal in New Jersey?

Michael R.Posted
  • Real Estate Investor
  • New York
  • Posts 313
  • Votes 87

Might be very vauge and leave a lot of things unstipulated so that it does not violate any laws in any state. Personally as a landlord I like to use a contract that is legal in my state and outlines every aspect of the deal as accurately as possible and is legal in my state.

Post: Condo Hotels

Michael R.Posted
  • Real Estate Investor
  • New York
  • Posts 313
  • Votes 87

Well after investing for several years in ghetto and low income areas I am looking to branch out and get some nicer units with some hopes of appreciation. I have ran across some hotels that sell units. Basiclly you buy the unit and own it but the hotel will rent it out for you and after taking a cut forward you the profit. You can also live in the unit yourself or rent it out yourself on a long term lease. I looks like an ok idea if you can buy at the right price. Does any one have any experiance with these?