When we closed, I hand delivered a pre-written letter to both of them detailing who I was, the rental rates the comps supported and gave them a choice to either break their lease early, sign an early renewal (their lease don't expire until 12/31) at a lower than market rate, or just ride out the rest of the lease and move in the dead of winter.

@Ben BeThe great thing about working in the NYC market is that we are normally compensated very well.Furthermore, the pro side of working a lot of hours is that normally our costs are 'low'.Most large companies in NYC provide dinner to employees and a ride home.This all allows for increased savings towards down payments on houses in low-cost markets.Best of luck!

If you can't afford to hold the property and ride out a downturn, then it probably doesn't make sense to do it.

It's been an  amazing and wild ride, but I've noticed another trend emerging as the residential market is starting to slow a little. 

Hey Tony, Welcome and get ready for a wild and addictive ride.

Ask if there's grounds to deny bus rides or make them get off at a different stop. 

I was fortunate to buy my first place in 2015 when the market was just starting to pick up and could ride the appreciation train.  

Just ride it out with the late fees.

The $3,000 in unrecorded fees were incurred when the borrower's wife took a number of ambulance rides over the years without paying.Our attorney assured us that this was illegal and that we wouldn't have to pay these.

I am happy renting an apartment for $3000 now, with around 10 minutes bike ride to work.My question is: would you recommend me to:1. buy a single family home in South San Jose, drive an hour to work every day.