All Forum Posts by: Rob D.

@Rob D. My thoughts exactly. I have two units that I am thinking about keeping vacant. Holding costs will be cheaper than going to court for evictions... 

Here in NJ court proceeding are supposed to continue- you just cannot remove a tenant until 2 months after the state of emergency ends. And that is a moving target.

And of course it can spring up again when things really go in the shitter. 

A big sorry to all of you "sunshine and lollipops" people out there... winter is coming.

@Rob D. I truly apologize If I offended you. That was never my intention, I’m in California too and all this crap is just getting to me. Even though I have reserves I think it’s a pride thing for me now. I’m sorry dude. 

@Rob D. please don’t be a sheep! Barbara Ferrer is a health expert not the Mayor. The governor is calling the shots and he is opening California in steps. Why open malls,beaches and dine in restaurants if we are going to be shut down? Why give loans to small businesses if we are just going to remain closed?? Common sense isn’t common anymore I guess... 

P.S not trying to be rude. I’m just tired of false news going around specially here on landlord forums. We look like clowns.  

With respect, your house is saddled with a $160/month rental payment to the utility which in CA is rising at at least 5% annually. Unless you have an unsuitable roof or tree shading, it would be difficult to believe that a solar payment - ownership through zero down finance - would not be less than the $160/month. Even if it was a "wash" to begin with, it will save increasingly with time and every available study shows that not only do solar homes sell for more (average $4/watt of solar system) but also sell faster. That's Berkeley Labs, Zillow, NAR, DofE, HUD."

Leases can be an issue as Fannie Mae exclude them from appraisal, but Fannie Mae explicitly include owned (even financed) systems. Typically the point where solar starts to save homeowners out of the gate in CA is an $80/month bill. It's different in different states. Rather than "saddling your home", you are adding an asset for less money than you currently spend to rent electricity.

Not sure when you last ran numbers, but if it was 10 years ago, the numbers you wrote would make more sense. It would also explain the negativity to leases as they were far more prevalent then. I think you would be pleasantly surprised if you ran numbers today.

I read into this proposed bill. Looks like it would be something like an  "Illegal taking". I agree it shouldn't pass.   Anyway it looks like some kind of guideline for  "balancing hardships" in a disputed eviction. 10 properties or more owned,  and it would have to be proved that the landlord didn't need the money. Other items in the proposed bill  made it a lot less scary to me. It was part of a bill that included foreclosure issues. Probably get cleaned out of the ridiculous stuff.  

Hi All, I'm flipping a condo in Cook County (Illinois) and recently discovered that the GC I've hired and paid more than 80% balance of labor has not paid the subcontractors. I have receipts and bank statements to substantiate each and every payment. The GC has refused to provide signed lien affidavits and sworn statements indicating he has paid the subs. We ultimately fired him for poor workmanship (light switches popping out sockets, bad paint job, bad tile work etc) and damages to our expensive materials (nicks and dings to expensive kitchen cabinets) which requires extensive rework. We had no knowledge subcontractors were even being utilized when we signed the initial contract. Has anyone had success fighting off mechanic liens in Cook County or Illinois? I've done some preliminary research and Illinois seems to be extremely favorable towards contractors. Seems mind boggling that we'd could potentially be responsible for filling the GC's financial obligations when we had no knowledge of what his agreement is with the subscontractors. For instance, what's stopping a random electrician from filing a mechanic's lien for $10,000 if there was no contract between the home owner and the electrician? Or what if the GC promised someone $3,000 but they're now asking for $6,000? Appreciate any insights!

Well I appreciate the feedback.  But my friend said landlord insurance is cheaper,  thats my question