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All Forum Posts by: Steve O.

Steve O. has started 5 posts and replied 104 times.

Post: How expensive is too expensive for replacement windows?

Steve O.
Pro Member
Posted
  • Rental Property Investor
  • West Caldwell, NJ
  • Posts 104
  • Votes 65

@Nicholas Standford I would take your quote, hopefully they put the measurements and go to Home Depot or Lowe’s. Price them out yourself and see how much they are charging labor. If these are standard sized windows, they should be in stock. I would think the avg cost for the window and replacing should be around $250-$300 per window, pending there stock windows with no build outs.

Post: What’s your opinion on special response assistance ?

Steve O.
Pro Member
Posted
  • Rental Property Investor
  • West Caldwell, NJ
  • Posts 104
  • Votes 65

I have not dealt with the special response assistance the county provides for a tenant in N.J. It does seem like a good program from a landlords aspect. The money is allotted for the rent and security (1.5 months rent) as well as they cover utilities. However, I found that the program is based off funding and funds can be stopped and not guaranteed for a years lease. In addition, the rent allotted by the county seems to be very high. What’s your experience with this program?

Post: Mouse in the house and taking advice

Steve O.
Pro Member
Posted
  • Rental Property Investor
  • West Caldwell, NJ
  • Posts 104
  • Votes 65

@Matt Higgins I went through the same situation. You have to find where the

Mouse is coming from and plug the hole up. Check baseboard heating, where gas pipes come up into your house. Around Plumbing, check where plumbing drains Go into the wall. My situation was where the gas pipe was coming up from the crawl space- pipe hole was cut too big. There is never just 1 mouse. There’s always 3-4. I went through each room and checked for holes, you’d be surprised how small a hole a mouse can fit through. Stick Brillo in the hole, then caulk it or spray foam that is used for pests.

Post: Tenant asking to do a walk in closet for a room

Steve O.
Pro Member
Posted
  • Rental Property Investor
  • West Caldwell, NJ
  • Posts 104
  • Votes 65

@Sandy Gabin as long as it makes sense space wise, makes sense in General and they paying for it - know the carpenters work who will be doing the job- why wouldn’t you?

Post: What Are Your Favorite Countertops For B- Rentals

Steve O.
Pro Member
Posted
  • Rental Property Investor
  • West Caldwell, NJ
  • Posts 104
  • Votes 65

@Eric X. Granite is a lot more expensive than laminate countertops. It’s not even close. What do you pay per square foot for granite?

Post: One of my keys to success with my low-income tenants

Steve O.
Pro Member
Posted
  • Rental Property Investor
  • West Caldwell, NJ
  • Posts 104
  • Votes 65

@Derrick E. I had the same situation and have resorted to the biweekly payments. Indeed it has helped, and the tenant hasn’t been late since I started doing this. I look at it as as long as I get my money every month, why would it matter if it’s every week, bi- weekly, etc. I believe in a 2- way street. We can’t always demand it our way and get it. Flexibility has kept this tenant there for 9 years.

Post: How much should you typically aim to Cashflow per property? Why?

Steve O.
Pro Member
Posted
  • Rental Property Investor
  • West Caldwell, NJ
  • Posts 104
  • Votes 65

@Fred Cannon I have the same strategy. Do you do 15 or 30 year Mortgage’s?

Post: What does this Zillow price history tell you?

Steve O.
Pro Member
Posted
  • Rental Property Investor
  • West Caldwell, NJ
  • Posts 104
  • Votes 65

@Mike M. Sorry, I was vague. I am taking as far as the rental history goes. It seems it was for rent a few months, then for sale, etc. trying to see if the agent had a hard time renting the property. ( I am under contract and look for every negative possibility to prevent acquiring a bad deal). This listing history just didn’t sit well with me. A lot going on.

Post: What does this Zillow price history tell you?

Steve O.
Pro Member
Posted
  • Rental Property Investor
  • West Caldwell, NJ
  • Posts 104
  • Votes 65

Does this price history say anything about why this property is for sale?

Post: Non-responsive realtors in my area

Steve O.
Pro Member
Posted
  • Rental Property Investor
  • West Caldwell, NJ
  • Posts 104
  • Votes 65

@Shane Womboldt I am having the same issue however, I went out with an agent this summer and passed on a deal. She tried to sell me on a 55+ rental property. I thought it may sound like a good idea, then realize I was excluded many renters. I told her the truth. I told her the area/price range where I was Interested in and if she found something call me. She called me last week as a backup, other buyer couldn’t get a mortgage. I’m currently under contract because I send her my pof. And took the day out to show her I was real. They can probably list and get more for the house, but because she is getting double commission on both ends, she will sell it me because I can close and she can make the full 5% commission. I learned to build a relationship with a few realtors, show them your serious with pof. And actually set up appointments to view properties