investment opportunity

[mountainannie]

Most RE investors use a 10% cap rate. So the monthly rent for a $120,000 property would be around $1000mo. + pro rata taxes.

MA, understand that if you have a lease it's reallyreallyreally hard to evict you of you keep paying rent, and you'll have time to find another place.

I had a two year lease. When it was up, she said that I could stay at the same price. I think that was two years ago but I have to dig for the papers. I already had this in the hands of a lawyer once when she refused to make any repairs. I did insist that she replace a closet door and she did that. lost a great old wooden door for a crap piece of plastic.. but she only spent 7000 pesos.. I could have had it repaired for $3000.

so now I am really protected and honestly, she cannot get me out.

I explained this to the neighbor.

I just want to be honorable and honest.

My neighbors rent is ten thousand pesos per month

and i pay twenty four thousand..supposedly because it was furnished. But the appliances completley broke in one year and I bought new. Ditto lots of the furniture.

 

[mountainannie]

the ground floor apartment was rented two years ago
for the same price.. around 24,000 pesos.. But she is a great landlady and never lacks for tenants..

I think that i am the only gringo in the building now. There is no locking gate on the drive, no invertor for the public lights, no security AT ALL.

 

[mountainannie]

as long as i am marketing,

there may be some deep pockets that are interested in an art investment

here is the work of my brother, Dickon, Dickon Eames

Who would have been 68 yesterday had he not been taken at 52

RIP

 

[mountainannie]

as long as i am marketing,

there may be some deep pockets that are interested in an art investment

here is the work of my brother, Dickon, Dickon Eames


Who would have been 68 yesterday had he not been taken at 52

RIP

The work is stored in France, on display in Switerland and New York

pieces are 50kUS and 100k

his son has about 80 pieces left

 

[mountainannie]

Rent here starts around $700 for a small one bedroom. That would include maintainence, elevator, one A/C, frig, counter top stove, oven, one and a half bath, one covered parking, walkin closet, etc.

Ijust got this from a DR1 member whom I have yet to meet but is a neighbor in one of the brand new glass torres.

 

[mountainannie]

Rent here starts around $700 for a small one bedroom. That would include maintainence, elevator, one A/C, frig, counter top stove, oven, one and a half bath, one covered parking, walkin closet, etc.

Ijust got this from a DR1 member whom I have yet to meet but is a neighbor in one of the brand new glass torres.

so thanks DR1 aGAIN!!

at least I will have a roof over my head.

 

[mountainannie]

in my five or six years here there has only been one incident for purse snatching

but vendors and religious folks can just walk right up to my door

anyone can walk into the staircase

there is no security WHATSOEVER

and never will be an elvator.

I wanted a two bedroom since I work at home

but i can certainly live without this hassle.

 

[mountainannie]

thanks so much for all your help.. !! I am getting a grip on it now.

I will simply go to the new attorney.. and deduct from my rent paid all the money that i have put in here.. and look for a new place.

The housing stock here is so variable that it is hard to get a grip on the prices and value.

This building is never going to rent for the price of the new ones as they do not have the capital, collectively, or the will, to pay for the improvements needed..

The stairs are never going to be replaced

Gazcue has a strict limits on construction .. nothing over 5 or 6 stories except on the avenidas... to protect the area from turing into .. well NAco

Here I can still see the stars

which is why i love it.

but there are hundreds of apartments for rent near by .. as they want to rent to foreigners.. who will leave in two years.

I was at a disadvantage since I did not own any furniture but now I have the appliances and three Ikea pieces.. so I pack a full apartment.

Apartments here in the city do not come with even light fixtures if they are not advertised as furnished.
some come with appliances.. la linea blanca

mine came with la linea rusteda but they worked for a year or so.

this is the apartment that I want but i
want to be able to die here.

I am 66 now. Both my parents and two older brothers are gone. I smoke two packs a day

we are talking a good investment here

i have a secure income and always pay my bills..

sometimes i may be a couple of days late because i am not perfect

But the landlady has always had three months' checks in had every quarter

 

[RonS]

Don't give up yet, E. But I agree, you should be prepared. Good Luck!

 

[mountainannie]

more information coming from neighborhood
Germosen Constructora

they peg the rental to a 6% annual return

so that REALLY helps!

 

[mountainannie]

at 700 a month, this apartmemt is worth 84k.. if my algebra is correct

she wants to price it as if it were a new model.. with planta, elevator, and security

but it would be 700 if it had the work done.

but after that, it will stay vacant for a couple of years

I worked on the NYC rent stabiliazation laws which include fixed percentages of increase.

Personallyl, I cannot go over $1200 a month.

lost a LOT of money in the recession

 

[Chirimoya]

In our building, two of the owners told the tenants they were going to raise the rent, so they moved out. Both apartments then stayed empty for about a year, so they ended up losing more money.

 

[AlterEgo]

In our building, two of the owners told the tenants they were going to raise the rent, so they moved out. Both apartments then stayed empty for about a year, so they ended up losing more money.

So typical in DR......

Annie, I think she's trying to intimidate you by bringing people "supposedly" interested in the apartment. I bet you can find another place that you like as much or more. And then she'll cry a river of tears because she lost a gringa tenant who actually paid her rent. Sounds to me like it serves her right.

 

[mountainannie]

So typical in DR......

Annie, I think she's trying to intimidate you by bringing people "supposedly" interested in the apartment. I bet you can find another place that you like as much or more. And then she'll cry a river of tears because she lost a gringa tenant who actually paid her rent. Sounds to me like it serves her right.

well it is true

i am here trying to learn

paz sciena

just a tough exam.. this housiing one, here

 

[mountainannie]

just met with the neighbors down stairs what just moved in// appalacia speak

they pay 20,000 rent

apartment is in better condition except for the improvements that have been made

the other neighbor who talked to the owner says she definitely wants to sell

i will get an attorney

and then add up all the improvements, and stay until those are paid for..then vacate

that seems fair?? do you think?

 

[MerengueDutchie]

MA,

Maybe you could give it another try on the personal level...

Invite her for coffee... tell her your view... tell her your choices... let her decide

Make her feel important, but at the same time illustrate what you can and cannot do... she might think you have a money tree somewhere... or she might need cash for whatever reason...

 

[mountainannie]

MA,
Maybe you could give it another try on the personal level...

Invite her for coffee... tell her your view... tell her your choices... let her decide

Make her feel important, but at the same time illustrate what you can and cannot do... she might think you have a money tree somewhere... or she might need cash for whatever reason...

no she is s abich...a this is all political money

do the names Mejia and Bellini ring any bells?

my neighbor downstairs, Dona Gloria, who runs the condo, will not speak to her.

So i am prepairng my case for Guzman

i got a 684 on my law boards

and my first love is a lawyer..hell.. my family has been in the business of law since the 12th centruy

glad to have a law and order episode to right

so tired of the reruns

 

[mountainannie]

so the investment opportunity is no longer available

as i am about the cancel the next months two checks and squat on rent strike
i trained with Saul Alensky

and went to jail in Vieques

so i think hta that a rent strike here is order

i trained in that under julian bond.. organized harlem in the late 60s

so this will be an interesting journey

now i am better

 

[cobraboy]

so the investment opportunity is no longer available

as i am about the cancel the next months two checks and squat on rent strike
i trained with Saul Alensky

and went to jail in Vieques

so i think hta that a rent strike here is order

i trained in that under julian bond.. organized harlem in the late 60s

so this will be an interesting journey

now i am better

Why?

What has she done to you? Nothing.

You don't like she has chosen to utilize HER property in a manner SHE chooses, so you decide to screw her over? If it stays vacant it's HER problem, not yours.

Bad move and one totally devoid of respect for someone else's property. I have respect for you MA, but this move makes me question my judgement.

If you don't pay rent she has every right to evict you, Saul Alinsky, Julian Bond or not.

If it's that big a deal just start looking for another apartment. Do the right thing. You are a RENTER not an OWNER and the apartment isn't some rent-controlled deal in the lower east side.

 

[mountainannie]

Jimmy Buffett ft Zac Brown - Where The Boat Leaves From - YouTube