All Forum Posts by: Robert Schulmeisters

Does anybody have a hack on how to find out the financial status of a school district when buying a house/apartment.

I'm looking for more than 'how good a school is'.

But how is the school's budget.

Some school districts are under water in budgets and already high school taxes.

Thanks

In an interview in the New Yorker Mayor DeBozo said that if it was up to him, The mayor's office would control who bought what property, where and how for how much.  That's not affordable housing or cooperate buy outs, that is socialism.

Hello neighbor.  I was born and raised in Westchester and live in Orange County NY.

My first trade was carpenter and worked all over tri state area.  My partner and I primarily look in better school districts.  They are a big pull in NYC suburbs.  

There are multiple REI clubs that would meet every month, before this pandemic and am sure they will restart. Good networking and some good info.

Buzz me directly if you want to chat.

Good luck.

First yo need to fix the water issue.  From what I see the house has no gutters and all the damaged siding under the short eves.  Little to no damage is at the gable end of the house.  I bet if you watch the house in a rain storm you will see that water is splashing up onto the siding without gutters.  This may also give you a wet basement/crawl space.

Wood is amazing and can get wet a million times, as long as it dries out between.

I suggest gutters first and have them lead away from the house.  The decide on the siding.

Keep in mind if you strip the old siding of you will probably find rotted sheathing and possibly rotted sill plates.

The best way to do the siding these days is to strip down to the sheathing, add house wrap (tyvak or =).

Depending on what you plan on you can also add some rigid insulation and of an air gap.  That is best if you want the long term better performance.  If you want more info, contact me directly.  My first life was as a carpenter.

If you want a great source about building construction, a good trade magazine on line is JLConline.com.  Originally started by a bunch of carpenters written for tradesman and not engineers or techno speak.   Now is available on line with archives or articles.  You can bank that the info of how and why is current in the trade.  Even if you do not do the work, it is good to understand what is done and why.  They cover all kinds of siding.

Good luck.

@Caleb Bryant

I have a friend who lives Huntsville neck of the woods. He has been in REI part time for many a year. He just sold his multi-family in February for an obscene amount. Dumb luck.

But he is building with the $, because of the multiple large businesses coming to area and shortage housing.

I believe he said, Toyota, google and another all setting up shop in the neighborhood.

Housing demand will be at a shortage.

He admits to his dumb luck on selling when he did, but is doubling down. He already is closing on land and building new multi-family from scratch, with modern amenities for the influx of engineers.

High speed internet, green building etc.

He is a smart guy.

I suggest you research for yourself.

I think we all agree that there will be issues in residential and commercial rental markets in the coming days.  How much will the market change?

I don't know.  But my partner and I were talking about this.  What hook can we add to get ours rented first?

How about cleaning the unit/house with a hospital disinfectant?  Then advertising as an apartment that has been sanitized with a hospital grade disinfectant.  Not just spray Lysol, but wiping down all surfaces.  Then rope it off.  or offer to do that before someone moves in.  We usually do this anyway,  But now advertise we do all surfaces that have not been freshly painted.  Cabinets, floors tiled walls and floors etc.

Then with modern technology we video walk through the apt.  Make visitors wear booties and gloves with nothing brought in.

What ideas does everyone else have?  We need to think past the next month or two. 

I think it is a very valid point that gas, food, utilities are all not being reduced/discounted.

I see that taxes are being postponed, but not reduced.  I am sympathetic to tough times and being laid off.  Most of us have been in similar places at one time in their lives.

But I raise the question, that anyone who cannot can not meet rent, on the first month of this virus plague, will probably not be able to meet rent the following month or after that.  So what can we do?

Our bills will not stop but, maybe we can reduce them.  What about offering cash for keys to someone.  We cant evict them in multiple states (and growing) but would we lose more $ if it was empty?

It is a combo of a #s game and generosity.  But if you discount for them now, it will be expected for other months as well.  Ultimately for everyone.

So maybe offer a matching fund.  401k in many companies is matching.  So don't discount rent by 50%, match what they pay $1 to $1 or 50cents to the $1 that they pay on time.  This give incentive to keep $ flowing.

If we offer to credit them by 50 cent to $1 of rent THAT IS PAID ON TIME.  we can give charity and get cash flow.

But we are delusional if we thing someone will pay latter or be able to afford it the following month.

I hear Amazon, pharmacies, delivery services are all hiring.  Even the CEO of Lowes was on CNBC saying we are hiring.  So pass this on to your tenants who have been laid off.  If the balk at working for these places as beneath them, you will know what to expect from them.

Many a year ago, as a young family man I was in similar dire straights.  So I took anything to provide for my famity.  My family, my obligation.  I even tried selling pots and pans door to door for a while.  With Very little success.  But I did NOT sit on my *** expecting a hand out.

Just some thoughts.  No easy answer for anyone.

Another 2 cents.

The "fear" of Corona is different between the public and Medical/Emergency responders, but they both fear the unknown from different view points.  

-Public confidence drives 70% of the stock market.  The YoYo of Dow Jones is not just the virus, but the global oil issues such as Saudi Arabia and Russia in a pissing match or kids fighting in the sand box.  Add in the "correction" analysts say is overdue ands up to an unknow YoYo.  If it was just the virus, gold would have shot way up, which it didn't.  I couldn't help when the experts were asked, Are YOU buying?  and they yes at some point but not now.  No idea here.

-public is afraid of the flu.  The average age of death from this virus is 80 years old, with 83% of having other known major health issues, ie asthma, diabetes etc..  Yes the Flu kills many as well but this IS different.

Emergency responders and Medical community have great concern because of the unknown of the actual virus.  But what they are learning is there are key differences than past flu strains.  Such as you can be asymptomatic for up to 2 weeks while being contagious.  CDC says you are most contagious at the peak of your symptoms.  So someone who you shook hands with/sneezed on you 2 weeks ago could have exposed you.  How many people have you been near in the last 2 weeks?  Do you remember them all?  Way different than the average flu that you get sick from exposure in 24-48 hrs.  The average virus does not stay alive outside of the body very long.  Usually measured in minutes.  This virus can stay active on metal/plastic surfaces for many hours, even over 24 hrs.  If sick patient 1 has it for 2 weeks before getting symptoms, everyone he meets in those weeks and most of the surfaces he has touched, or sprayed while talking have the potential of spreading it.   Do the math on this.

Additionally since this is a new virus  the testing capability is very behind.  So the # of cases is expected to be ALOT higher than the positive tests we are seeing.  Add on the people who have gotten a 'mild' version or not stricken by it, but were contagious for the 2 weeks before.  Again scary math.  So if it magically stopped spreading with a snap of a finger, you would still see a spike of positive tests.   and So the question is not if it will come to downtown America but when and how bad.  So even if it just makes people sick/stay home for 2 weeks, what does that do for the economy and daily way of life?  The info from China is at best sketchy.  Do you believe everything that government says.    I read that the original 7 Drs who raised the Red flags were discredited and disappeared.  The original finding dr died from it.

But wait there is more...

Forget unemployment for a moment and the stock and RE prices.  If the fear people have gets high enough, people will just not go to work.  Not just Drs and nurses, but truck driver, UPS drivers, grocery clerks  etc.  The average metropolitan area or bigger city has only 3 days for food on hand at any one time.  What happens when the truckers stop driving.  Look what happened in Puerto Rico after the hurricane.  Trucking stopped and so much relief aid rotted at the docks. And they only wanted more $.

Our Emergency services and security mainly practice and test for short term events.  A fire, a hurricane a terrorist attack etc..  Events that continue for extended times with fluctuating repercussions are not usually part of it.  Nor does the public.

So if people are staying home because of fear/sickness, imagined or real, what happens to rent, mortgages?  probably not overnight, but definitely a real concern.  Would you buy a property with so many unknowns?  I think whether people are smart or scared they will hunker down and hold.  Short term everything slows down, longer term should provide interesting possibilities.

IMO  This is not just like the flu, deaths or not.  The ripple affect will cause more changes/issues than the actual virus.  Fear is a major driver.  Look what happened after WWII, the fear of communism global nuclear destruction.  How much have we pent in time, $ and resources, for something that never happened. 9/11.  

So stay vigil and wash your hands often.

My CPA like QuickBooks and am just starting my LLC soon to close on 1st rental. I hope.

So I don't want to reinvent the wheel.

What book keeping software to you guys prefer. Not being a book keeper it will be Sooo much fun learning any software, so I don't want to experience the pleasure of learning more than 1.

Are there rental software that exports in QuickBooks?

Thanks in advance

I sat in a local RE Investment group and an attorney spoke.

I posted the question about the new laws in NYS about 'quick fixes' around the new law.

Shorter than 1 year lease, month to month and having other charges as appliances ect.

Short answer he gave is what he is seeing is the courts are seeing through all these smoke screen and judges applying law.  They have authority to do so.

Another lawyer is recommending clients, go out of your way to keep good tenants or consider moving the business to another state.

This sucks, NYS is becoming a socialist state of entitlement people.  Only CA is worse. IMO