likeitmatters's Profile

Really 20k for a reno?
Only $150 premium from the other apartments?
Isn't that like 10 years to recoup your investment?
You are getting a better dividend then money in the bank but if you are leveraged on credit cards or home loans, you maybe will breakeven over 10 years.

I'm in NYC also, last two years without increasing rents and 5 eviction procedings even with tenants with 700 credit ratings. Landlords need to be cash rich so that when things go south, the bills get paid and the emergency repairs get done. If the landlord doesn't do his repairs or doesn't save for "hell" then he is wrong.

I have 15 kitchens and 16 bathrooms. Think about how many renos I will need every year do if I looked at Dwell and upgraded things every 5 years.