Yep, this will end well

From MarketWatch:

The new housing play: Helping priced-out renters become long-distance landlords

Leland Char is a 28-year-old product manager for a large San Francisco-based tech company. He loves the Bay Area’s “very authentic Asian food and new American cuisine, smart well-educated people, the multiple job opportunities, the friends that I’ve made, and fantastic hiking.”

What Char hates is the house prices, and the fact that even with a dual income, he and his fiancée can scarcely afford to buy a home in their community, let alone have in-laws join them as they put down roots.

So he settled on a solution that’s unorthodox, but which suits him: he bought eight houses in Texas.

He’ll continue to rent his own home in San Francisco, and has leased out the far less expensive properties in Texas, expecting to reap a better return than he could from stocks or bonds, while also building up equity.

Char, who built extensive spreadsheet models with all kinds of scenarios to test assumptions, doesn’t see a contradiction in becoming a “first-time homeowner” of a property he may never set foot in. Like a good tech worker, he found a way to make his investments online, using a fintech startup called Rootstock.

Launched in late 2015, Roofstock is one of the leading platforms for the burgeoning market in single-family house rentals for long-distance investors. While there have been landlords for as long as there’s been property, this particular market moved in a different direction in the aftermath of the housing crisis, when large institutional investors like Blackstone began scooping up houses by the thousands at fire-sale prices in order to rent them out.

This entry was posted in Housing Bubble, National Real Estate, Risky Lending. Bookmark the permalink.

91 Responses to Yep, this will end well

  1. The Original NJ ExPat says:

    frist

  2. The Original NJ ExPat says:

    Another house was just added to Glen Rock’s inventory on realtor.com, that makes 66 houses for sale. Anybody want to buy a $599,900K 1 bedroom bilevel. Something about all of these August open houses feels weird to me.

  3. The Original NJ ExPat says:

    LOL $599,900K 1 car garage bilevel

  4. grim says:

    Something about all of these August open houses feels weird to me.

    No, pretty common approach. This is the last big wave before school starts. We always see it, and it’s always people that are realizing they missed the window and start prodding their agents to do something about it. August open house agents are usually all the rookies, since everyone else is on vacation. Good luck closing in 30 days, even if you can register your kids for school with the contract.

  5. grim says:

    Me, personally, I don’t understand the draw of the Glen Rock market. I suspect it’s one of those, “If you aren’t from there, you won’t get it” things.

    I’ve had plenty of clients ask me about it, and I always tell them not to bother with Glen Rock.

    Ridgewood, I get Ridgewood. Next door in Glen Rock, I don’t get. It’s an overpriced version of Midland Park. Why? Who knows.

    Probably Uncle Floyd and the guy who invented the vibrating bed.

  6. grim says:

    I’d usually tell my buyers at this point in the year, anybody that’s motivated to sell this year, has already sold. People with kids, they are moved already. People on the market, still think they have a chance to make the window, and they think they are doing you a favor. Inventory sucks, because it’s everyone left who didn’t sell, probably because they were unrealistic. Better to wait until school starts, and the realization sets in that they aren’t going to sell until spring. Power tips back to the buyer.

  7. grim says:

    Everything slows down this month heading into September. Inspectors, contractors, lenders, lawyers, town inspectors (COs), etc etc etc. Everybody away on vacation before September rolls around again. Even if you were motivated to move fast, you risk getting bogged down by everyone else.

  8. 3b says:

    Long distance landlords?? That won’t end well!!

  9. 3b says:

    Lots of busy streets in Glen Rock and trains in your backyard.

  10. No One says:

    Ha, I think I got under contract in November approximately, 2009. Moved in early 2010 so daughter changed schools during winter break. Dumb lady was on her 4th or 5th broker and similar number of price cuts spread over 2 years, and just wanted to get it over with finally. I think we got a decent price.

  11. chicagofinance says:

    I know….. what a fcuking moron….

    3b says:
    August 2, 2018 at 8:58 am
    Long distance landlords?? That won’t end well!!

  12. Fast Eddie says:

    Long distance landlords?? That won’t end well!!

    I was thinking the same thing. Omg, what a potential disaster.

  13. grim says:

    Man, Westchester everywhere this week. From Bloomberg:

    Home Prices Are Falling in One of America’s Richest Suburbs

    This has become a summer of discontent for those trying to sell their homes in New York City’s leafy suburbs — in no small part because of the Trump administration.

    In affluent enclaves in Westchester County, New Jersey and Connecticut, a federal cap on state and local property tax deductions has begun to bite hard. Longtime homeowners who dreamed of offloading their empty nests are finding their plans complicated by the tax bill, as would-be buyers hold back, expecting sellers to cut their prices.

    The issue is especially acute in areas of Westchester, the county with the nation’s highest-property taxes, where annual bills of $35,000, $50,000 and more are not uncommon.

    In Scarsdale, median prices dropped 5 percent in the first half of the year, while Mamaroneck had a 13 percent decline. Purchases in the whole county plunged 18 percent in the second quarter. The most vulnerable are houses in the $1.5 million to $3 million range, reflecting the new tax realities, agents say.

    It’s a far cry from the days of bidding wars, and only likely to get worse next year. That’s when homeowners will file their taxes for 2018 and feel, for the first time, the impact of the $10,000 limit on deductions for property and state and local taxes.

    “We all think next year is going to be a tough year for real estate sales,” said Matthew Roach, a property attorney in Yorktown Heights, New York.

    He has a client, who works for a Wall Street firm, who recently sold his southern Westchester home. He lived in the house for 25 years and raised his children there. But when the tax bill was enacted he’d had enough, Roach said. The client pays more than $50,000 in property taxes.

    He plans to move to Brooklyn and never own a house again. His client said it makes more sense to rent an apartment for $10,000 a month rather than be on the hook for a hefty tax burden, not to mention the house upkeep.

    “The individuals who are following this — they get it, and they’re making their moves to get away from it,” Roach said.

    In Westchester, the number of residences on the market on June 30 jumped almost 5 percent from a year earlier, to 3,147, according to Houlihan Lawrence. For homes priced at $2 million to $2.49 million, inventory jumped 26 percent.

  14. 3b says:

    Grim I think that is great news!

  15. 3b says:

    I wonder if that guys spread sheet tells him how to make sure his long distance tenants pay their rent on time or at all!

  16. Juice Box says:

    Long Distance landlord deep in the heart of Texas!

    He wants to “reap a better return than he could from stocks or bonds, while also building up equity.”

    28 years old sounds about right, was a teen during the Ka*sey Ser*in days, go all in with 8 homes in Texas, what could go wrong?

    This should be a sign folks..how did he get the financing?

    Oh wait a few clicks and you are a homeowner on RoofStock?

  17. Project on Tap says:

    How much should a survey (and/or corner markers) run, approx?
    Grassy ass.

  18. Juice Box says:

    Lol – I can see why he bought 8 rentals in Texas.

    RoofStock says “RENT GUARANTEED” you can click to sort by it too.

  19. Juice Box says:

    I can see why our governor was out in Red Bank getting a pedicure last week. He is off at his 7 million dollar villa in Italy this week, skipped the G5 do to optics and took a commercial flight, although they did “sweep” the plane with bomb-sniffing dogs before the flight took off. Lol….

    Makes Christie’s trip to the Governor’s house at Island Beach State Park look tame..

    http://www.dailymail.co.uk/news/article-6017205/Italian-estate-New-Jersey-Governor-Phil-Murphy-bought-7-3M-three-houses-horse-stable.html

  20. Project on Tap says:

    Does Murphy’s privately purchased private Italian property have public areas that he will be locking the public out of over political and policy decisions he has made?

    Juice Box says:
    August 2, 2018 at 10:05 am
    I can see why our governor was out in Red Bank getting a pedicure last week. He is off at his 7 million dollar villa in Italy this week, skipped the G5 do to optics and took a commercial flight, although they did “sweep” the plane with bomb-sniffing dogs before the flight took off. Lol….

    Makes Christie’s trip to the Governor’s house at Island Beach State Park look tame..

  21. Juice Box says:

    Project – There are over a 100,000 refugees in Italy looking for a place to live. I don’t think Phil is doing his part…..He could let them use thay Villa at least in the winter while he isn’t there.

  22. The Original NJ ExPat says:

    Two train lines.

    Me, personally, I don’t understand the draw of the Glen Rock market.

  23. Project on Tap says:

    Juice – don’t disagree with you on some benevolent charity going a long way to help society, in general. They can’t all be Lebron! What a great thing he has done…but so pitiful that he has to be the one to do it.

    Which reminds me, some towns are now charging fees for things like team sports participation. If your kid wants to play football or basketball for the high school team, get out your checkbook. Has that been around before or is this a new thing for “budget strapped” districts?

  24. The Original NJ ExPat says:

    The only reason I follow Glen Rock is because it is small and pretty homogeneous in the upper tier. You really get two down towns, too. The best part of Glen Rock is closer to Ridgewood downtown than most of Ridgewood is. It’s pretty much the same as Ridgewood except Ridgewood has a very upper tier that Glen Rock doesn’t and a somewhat lower tier that Glen Rock also doesn’t have.

    I think some of it is a longing for what it used to be. No school buses everybody, walked to school from Kindergarten on up. No low income kids, so the schools just organically stayed top tier. Everybody had to walk home for lunch because there was no cafeteria and no lunch program. I think the people like my wife and in-laws think of it as Norman Rockwell with a slight Jersey accent mixed with a little bit of never spoken snobbery.

  25. 3b says:

    Ex I think Glen Rock was part of Ridgewood years ago.

  26. 3b says:

    High School in my town a regional started charging for teams sports a few years ago. Meanwhile the school funding battle between the two towns that make up the regional middle and high school is in the NJ state Supreme Court for a final resolution. It’s been ongoing for more than 15 years!!

  27. 30 year realtor says:

    Glen Rock is all about schools and train

  28. 3b says:

    30 and high taxes!!

  29. 3b says:

    Glen Rock and Ridgewood are two towns that should merge. Call it Ridgerock!

  30. 30 year realtor says:

    In the last 2 years or so Glen Rock has appeared in the nj.com list of hottest NJ real estate markets a couple of times.

  31. The Original NJ ExPat says:

    Twitch, twitch!

    Glen Rock and Ridgewood are two towns that should merge. Call it Ridgerock!

  32. Trick says:

    3b

    Our high school is regional and the other towns want to change the funding based on the number of kids in the school

    Under current New Jersey law, public school districts are funded by property taxes, which are determined by a home’s value. That home’s value is also based on its own town’s assessment and correlating tax rate.

    As of now, the School District is funded by the property taxes of residents, along with state aid.

    Under the proposed referendum, the formula would change from 100-percent based on property taxes to a 50-50 split between property taxes and per pupil cost.

    Of course it did not pass.

  33. Topper says:

    Leftwing,

    Thanks for your thoughts from last night. Good points. But, first, I think you may have me confused with another one of the posters. Been to Walmart twice in my lifetime – once well over a decade ago out of curiosity and the last time several years ago. Came out undinged from the parking lot both times.

    In terms of the accident, I would agree with you if we were at fault and if the damage was relatively nominal. In this case, all I’m trying to do is get the insurance info of the other party to file a claim. Not sure if that would go against my daughter’s record – but, I will double check. In terms of reporting to the police, I think the police would be far more effective in getting a response than I have. Don’t think it would be much more than an officer placing a phone or perhaps sending a letter. I don’t expect them to chase her all the down in SC or put out an APB. Plus, I would have some documentation should I need to file against her if I end up laying out the costs of repair. Am I missing something? Appreciate the insight.

  34. Topper says:

    Same here – don’t understand the attraction of Glen Rock. (The trains I can understand to some extent.) Also, don’t understand the ha*don some people have for Ridgewood. I think I have said it here before, I am one who stays away from towns that attract a lot of the type of people who are attracted to the Ridgewood name brand. I enjoy the restaurants when I want to and get out of there.

  35. Blue Ribbon Teacher says:

    My mother’s friend operated a daycare business in NYC and did well for herself. In 2006, she bought 3 homes in Florida to rent out. Its been a nightmare for her.

  36. Libturd questioning the gender of Hillary's Cankle fluid. says:

    “Glen Rock and Ridgewood are two towns that should merge. Call it Ridgerock!”

    Better off calling it Rock Ridge.

    https://www.youtube.com/watch?v=On73aHpgdSQ

  37. Belu Ribbon Teacher says:

    Char, who built extensive spreadsheet models with all kinds of scenarios to test assumptions, doesn’t see a contradiction in becoming a “first-time homeowner” of a property he may never set foot in. Like a good tech worker, he found a way to make his investments online, using a fintech startup called Rootstock.

    I’ll bet anything all of those “extensive spreadhsheet models” never included the possibility of price decline.

  38. Juice Box says:

    New tax bill arrived, assesment only increased 7k and another $400 this year. They claimed no tax increases in the budgets, that is until the took the private garbage collection away and the city now contracts garbage collection for everyone.

    Schools tax up only $60, county and city….the rest. I will take this bill sitting down…

  39. The Original NJ ExPat says:

    In Glen Rock they never have garbage on the curb. The garbage men come into your garage, carry your cans to the curb, then replace the empty garbage cans back in the garage. There is no security risk because all of the Moms keep an eye out in between placing fresh baked pies on the window sill to cool.

  40. The Original NJ ExPat says:

    ^^^ If you still use the old metal cans I think they clean, sanitize and polish your garbage cans before they replace them. Somehow they never get even a smudge on their white jumpsuits and caps.

  41. Topper says:

    Project,

    HS sports, or sports at any level for that matter, will be a bit costly. Some teams/towns/parents can go crazy overboard where it will run you $5-$20K/year depending on what level, training, etc. HS football for instance with additional weight/ agility training; booster participation fees; etc. will run $1K+ for the most basic programs. Plus, with “non-mandatory” weight training early summer, 2 a day boot camps, etc. – kids have to be around all summer to participate. I think we had 3-4 days of being free of football commitment and that was our summer vacation. Not cheap and no summers.

  42. Juice Box says:

    Blue Ribbin – It says guaranteed rent. If that is the model then so be it… I still like to know how he financed 8 homes in Texas.

  43. grim says:

    How much should a survey (and/or corner markers) run, approx?

    $500-750 plus the corner marker costs $50-100 a marker.

    It’s not a fixed price thing, a complicated survey with a bunch of markers on an odd shaped hilly lot is going to be expensive.

  44. grim says:

    Trains – Neither of Glen Rocks lines (Main and Bergen Line) are Midtown Direct lines, they are Secaucus Transfers, nor are they any different from the train lines that service Clifton or Garfield.

  45. JCer says:

    Grim I think my survey was 1250 or 1500 without stakes but I have 2 acres of hilly irregular shaped lots(I have 2 lots).

  46. 3b says:

    Grim that’s true on Glen Rock trains but with two lines you have more options if you miss a train. As opposed to my town with only one line.

  47. 3b says:

    Juice how do they gurantee rent? Take it of the renters checking account? If so who says the renter can’t just stop the withdrawal after a month or two?

  48. 3b says:

    Lib Ridgewood residents will demand Ridge is first!

  49. Project on Tap says:

    Thanks. Have anyone you recommend?

    grim says:
    August 2, 2018 at 11:46 am
    How much should a survey (and/or corner markers) run, approx?

    $500-750 plus the corner marker costs $50-100 a marker.

    It’s not a fixed price thing, a complicated survey with a bunch of markers on an odd shaped hilly lot is going to be expensive.

  50. 3b says:

    Trick I think cost should be based on amount of kids a town sends to the school. Send more pay more. I know it’s an emotional topic with people.

  51. 3b says:

    And Oradell likes to think of itself as Ridgewoody like!

  52. leftwing says:

    Topper

    If the damages are going to go through your insurance fine, it wasn’t Walmart, you were in a Target parking lot. Do I need an emoticon to make my point.

    If it is the other driver’s clear fault, she admits it, and she is 70 then likely (hopefully) they will go out of pocket for your repairs.

    Unless you absolutely need to for financial purposes (and again factor in substantially increased rates for your driver and the car being tagged as in an accident and deductible if it ends up going through your policy) do not go through insurance.

    Each driver is in a high risk category…why would either want the insurance company aware of an accident?

    Regarding fault and what actually happened recall you are dealing with a newly minted young adult….I say that without any prejudice to your daughter specifically, just the experience of having two myself.

  53. Libturd questioning the gender of Hillary's Cankle fluid. says:

    Accidents are very, very costly to young driver policies. Especially when they don’t share a policy with their safe driving parents.

  54. 1987 Condo says:

    What is cost to repair vs deductible? Then factor in 3 years of hiked premiums on the younger driver.

    If repair cost is less than $5,000, the SC driver may be doing you a favor by disappearing?

  55. chicagofinance says:

    The three rules of driving:
    #1 Don’t get into an accident
    #2 Don’t get into a damned accident
    #3 Don’t get into a g-ddamned accident
    fcuk whose fault it is…..

    leftwing says:
    August 2, 2018 at 12:33 pm
    Topper

    If the damages are going to go through your insurance fine, it wasn’t Walmart, you were in a Target parking lot. Do I need an emoticon to make my point.

    If it is the other driver’s clear fault, she admits it, and she is 70 then likely (hopefully) they will go out of pocket for your repairs.

    Unless you absolutely need to for financial purposes (and again factor in substantially increased rates for your driver and the car being tagged as in an accident and deductible if it ends up going through your policy) do not go through insurance.

    Each driver is in a high risk category…why would either want the insurance company aware of an accident?

    Regarding fault and what actually happened recall you are dealing with a newly minted young adult….I say that without any prejudice to your daughter specifically, just the experience of having two myself.

  56. NJGator says:

    I thought the big draw in Glen Rock was the Kosher Nosh. They also have a cool little Starbucks that looks like a castle.

    And if setback trash service is your thing, well they have it in Glen Ridge with MTD!

  57. Fast Eddie says:

    Trump approval at 50%, 5 percentage points higher than Oblammy at the same point. I wonder what the Meeka and Joey Variety Hour will come up with next? Can we still use Stormy Daniels? Is the immigration thing still tragic enough or did the fake liberals move on from that one, too?

    http://www.rasmussenreports.com/public_content/current_events/politics/prez_track_aug02

  58. leftwing says:

    Popped up Roofstock, clicked on the first house.

    Where do I sign up!

    Let me at that $539 annual CF for a $34k investment!! Woo-hoo!

    Nice little sleight of hand burying under three tabs the assumption of a 25% increase in home value over five years to get the advertised 14.7% IRR.

    Otherwise at least they are upfront that cash-on-cash *projected* return is the whopping $539 annually…No problem that an unbudgeted new microwave for the kitchen may blow your return LOL. But, hey, where else could one ever get a 1.5% return on cash if not in real estate?

    good grief……guess this generation will invest in anything with a bright, interactive website….nice to know……

  59. Blue Ribbon Teacher says:

    Ever since my new commute, I’ve got a dashboard camera. It was really cheap and you just plug it in. It turns on when the car turns on. I always said I’d enjoy it just for the sake of having it as evidence when some idiot pulls some stupid shit on the road. But to be honest, it’s improved my driving as well knowing I’m on camera. IMO, it’s probably the best thing you can do for your kids when they get their license. I plan on reviewing their driving habits every time they come home for the first 1 year.

    My experience was, people drove as safe as they could with their permits. And the second they got their license, they turned into crazed lunatics on the road.

  60. leftwing says:

    Link for the Roofstock property I posted keeps getting blacklisted….

    It’s the Florida property, 5310 Rainbow Drive….

  61. JCer says:

    leftwing, for online real estate investments why not use Realtymogul or fundrise and invest in large multifamily properties, even after the management fees you’ll do better than roofstock.

  62. leftwing says:

    BRT, know a few parents that use those plug-ins that actually record most vehicle data…they can be disabled.

    Interesting idea that your own camera may make your kid a better driver…..different perspective

    I’m not of the mind to track my kids’ behaviors…geolocating phones, car monitoring, etc.

    I may go your way though and get a camera *for my own protection* if that has the kids behaving better. He11, thing doesn’t even need to work. I could permanently attach anything that looks like a lens on the windshield or grill and tell them it’s recording lol. And transmitting wirelessly real time to the interwebs…..

  63. leftwing says:

    JCer, I’d do better than roofstock even by buying a CD in this environment.

    Sh1t, Think or Swim brokers are giving me $500 cash (one year’s rental profit!) just for opening up an account.

    Right there I do better than roofstock…..and I don’t have to worry a broken microwave wipes out my return…..lol

  64. Blue Ribbon Teacher says:

    I’m gonna do it because I deserved a butt kicking for how I drove at 17. By 18, I grew up

  65. leftwing says:

    Yeah, hear you.

  66. joyce says:

    LOL. I think it was a Wegmens parking lot.

    leftwing says:
    August 2, 2018 at 12:33 pm
    Topper

    If the damages are going to go through your insurance fine, it wasn’t Walmart, you were in a Target parking lot. Do I need an emoticon to make my point.

  67. Libturd questioning the gender of Hillary's Cankle fluid. says:

    “I’m not of the mind to track my kids’ behaviors…geolocating phones, car monitoring, etc.”

    Agreed. Can’t stand the parents that do it. These kids are going to go off to college and drink and drive themselves to death the moment they are not under helicopter mom’s purview.

  68. grim says:

    Thanks. Have anyone you recommend?

    Whoever your attorney usually works with.

  69. chicagofinance says:

    left: I know it is early, but I’m thinking Hobie Baker January 4th……

    leftwing says:
    August 2, 2018 at 1:50 pm

  70. Blue Ribbon Teacher says:

    Agreed. Can’t stand the parents that do it. These kids are going to go off to college and drink and drive themselves to death the moment they are not under helicopter mom’s purview.

    I’m of the opinion that kids aren’t mature enough to drive at 17 and would fully support the state raising the age to 18.

  71. 30 year realtor says:

    Just a little reality check for Fast Eddie…Rasmussen is the highest of any major poll on Trump’s approval at 50%. Next highest is Fox at 46%. Average of major polls is about 44%.

  72. Not Bloomberg News says:

    I’m thinking 27 for males, 25 for females.

  73. Topper says:

    Ha! ChiFi – like and agree with your three rules. Think I will share with the kids!

    Well, finally heard from the SC grandma. Claims she is on vacation in an area with no cell reception so drove “into town” to get back to me. Turns out her car was a rental and she had purchased rental insurance so wanted to make a claim through them. She did claim responsibility. So, turned out nothing to negotiate, options to consider, etc.

    I did run the situation by someone in the insurance business and she said that this will have no bearing on my premiums since we weren’t at fault. At least that’s what she said and she’s sticking to it.

    LW (and others) – as I said before … all valid points – slight nuances depending on the case. Certainly wish we could have gone the “off the books” route as I have done on a couple of occasions in the past. I really don’t like the insurance companies having the information whether premiums go up or not. Again, appreciate the suggestions. BTW – don’t shop much at Tarjae either – in fact, not much shopping at all. Whatever we need is done 95% online with an occasional trip to accompany the wife to Costco. Maybe throw-in a trip to Home Depot every once in a while when I need to touch & feel and try to understand what to do (which is very little). Used to do Wegmens quite a bit when I was young (it was the dominant chain in the area I lived) – was fantastic … way ahead of its time. Went back recently after decades – it was underwhelming – not quite what I used to remember … and too pricey! From what I hear – I hope to check out Aldis one of these days.

  74. Topper says:

    Thinking of an extended weekend at the beach with the family. Ocean City has been ranked highly on several lists. How does OC compare to perhaps Long Branch, Ashbury, and maybe Wildwood Crest? Places to stay? Having some entertainment nearby (not too close!) for the kids would be nice.

  75. Topper says:

    BRT – completely agree! (17 to 18 at minimum)

  76. The Great Pumpkin says:

    Ocean city is great because it’s all white people with manners that know how to act. Just like LBI. How long before the general public finds out about it and ruins it is the big question. Not many places like this left in America.

    Topper says:
    August 2, 2018 at 3:26 pm
    Thinking of an extended weekend at the beach with the family. Ocean City has been ranked highly on several lists. How does OC compare to perhaps Long Branch, Ashbury, and maybe Wildwood Crest? Places to stay? Having some entertainment nearby (not too close!) for the kids would be nice.

  77. Topper says:

    Thanks Pumps. Any recommendations for places on the beach to stay?

  78. The Great Pumpkin says:

    It’s seriously like being in 1980’s America. It’s a really great community. They allow bikes on the boardwalk in the morning, so lots of people cruising away on their beach cruisers. Everyone hits up the donut shop towards the end of the boardwalk. It’s all families too.

    My brother has a place down there. So I always just stay by him. Let me find out if he has any recommendations.

  79. JCer says:

    Topper yes that is correct, provided it is clear you were not at fault your premiums won’t go up. Someone clipped my bumper in an intersection and just drove off, the cop at the scene was like you shouldn’t file a police report or report it too insurance the damage is really minor your insurance will go up. Insurance paid and the rate didn’t go up, my auto body guy told me the key is to avoid “dummy points”, so as long as what ever happens is not your fault you won’t get surcharged.

  80. Topper says:

    JCer – thanks for the confirm. Will try not to be a dummy ;) Good to hear!

    Pumps – thanks as well. Sounds lovely. And, would love me some donuts! Something on the beach. Not a block or two away. You know what I mean….

  81. Juice Box says:

    Don’t rent a place off Craigslist people be getting ripped off by the Dozen left and right with Shore Rentals this year.

  82. leftwing says:

    Chi, I’ll mark it on the calendar.

    Eight new freshman, not one American……nearly all born 1998-99….kind of bummed on that.

    ‘Our guy’ finished his senior year last season so I don’t know if we’ll be having the same massive tailgate but most likely will be there with a few friends. Let’s touch base in-season.

  83. leftwing says:

    Un-fcuking-believable…..

    12 weeks PAID bereavement leave going to Gov Cuomo’s desk for signature. Includes parents, grandparents, and in-law’s parents.

    No limit by employer size, covers everyone.

    Kiss your small businesses good-bye. Three months? Seriously?

    https://nypost.com/2018/08/01/bill-would-grant-12-weeks-paid-bereavement-leave-to-all-new-york-workers/

  84. ExEssex says:

    3:11 the only pole Eddie likes is a thick orange pole in his sphincter….

  85. grim says:

    Lots of outsourcers pulling out of NY State right now. Primarily due to minimum wage increases, but that would be a nail in the coffin.

  86. The Great Pumpkin says:

    Crazy rental market. I was going to eat the months rent and invest capital to improve the unit. Long story short, raised the rent 100 dollars with the tenants thanking me as if I was a saint. So I saved a couple thousand dollars, got a 100 dollar rent increase, and the new tenants asked me if it’s okay to paint. God bless this market!

  87. The Great Pumpkin says:

    Oh don’t worry, my poker face held straight and I told them neutral colors only and had them sign off on responsibility for any damage incurred. Only in America.

  88. The Great Pumpkin says:

    And I know you guys hate my positive outlook on real estate investment…but if you buy at the bottom, it’s a hell of an investment. Really amazing if you include rental income.

  89. The Original NJ ExPat says:

    NHMD seems to be at a bottom.

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