So much for a downturn though there is a lot of building going on. I would argue that is on the high end of the market.
http://www.wsj.com/articles/new-york-rents-set-records-in-august-1442462634
A site for the small NYC landlord.
So much for a downturn though there is a lot of building going on. I would argue that is on the high end of the market.
http://www.wsj.com/articles/new-york-rents-set-records-in-august-1442462634
This is comical in that these guys thought they could get away with it.
I am thinking of getting a home equity line of credit for my condo since it has a lot of equity and rates are low. If you look around, there are a lot of pretty good options and getting an equity line could be a great way to get a property that requires a quick cash purchase. Then I thought, do equity lines exist for investment properties? So, I googled it and found Wells Fargo has a program that will loan up to 70%/500K of the value of your investment property if it is the second lien. I called them today with some basic questions and they said the property has to be 75% occupied. The cap of 70%/$500k does exist though for ours, it would be 60% of equity. There will be both a sales and income based appraisal(that is paid by them). You should have around a 700 credit score and no blemishes. Rate is the Wells Fargo Prime Rate plus, in some cases, a spread. Takes only 45-60 days. So, I will move forward once the restaurant is occupying the ground floor and made improvements. But, this is a great way to literally buy another property without coming up with any new cash out of your pocket.
Since this restaurant should be getting a lease soon and I expect minimal negotiations(if they negotiate hard I will go with my backup), I decided to upgrade the garbage cans we had. The ones at the building were ok but the tops were never on the top of the cans and sometimes I saw garbage all over the place. So, I figured garbage cans with the top attached would work. I looked online and saw this Toter 64 Gallon model that looked pretty good. Plus, Lowe’s had recently cut the price. So, this past weekend I took my dad’s Jeep and went to Lowe’s. I bought two. The garbage cans are huge. I barely got them into my car. Now, I did think do I need a 64 gallon one? I quickly looked at the 32 gallon version and it was only $7 cheaper. So, I got the bigger one. Dropped it off in the basement for a later set up. On my drive back home, I was thinking, did I waste money by buying two? Then, I thought about it some more. It was minimally more expensive than the 32 gallon can. I am not really hurt financially and if I put both cans out the issue of stray garbage is done. Also, if I only need one and I buy another property, then I have one less thing to buy :-).