PutnamStoner's Profile

  • Tim
  • 2005
  • 2005
  • Brooklyn
  • Bedford Stuyvesant
  • House
  • Finance
  • Male
  • 36

Author's Posts

May 14, 2008

Getting Dropped By Allstate

I've gone through the archives and have seen many varying comments on insurers,etc. I've finally fallen victim to Allstate's policy of dropping Brooklyn Brownstone owners because our properties are " too close to water ".

I see state farm getting raked over the coals, but their premiums are incredibly tempting. Brownstone Insurance inc as well. But can someone give some concrete advice(i.e. real, consistent, negative or positive experiences with these insurers that warrants the commentary? )
I'm not interested in hearing " with premiums so low, how can they afford to cover you etc.?"

And likewise, if you have a wonderful story of an insurance carrier that is perfect for you, please share.

Thanks.

April 9, 2008

Day Care in Bed-Stuy

My wife and I just had our first child. We've owned our Brownstone for about 3 years now and we're wondering about day care options in the neighborhood. Any thoughts? What are people doing? Are folks using Nannies?

If so, how are you going about finding good help.

February 21, 2008

Stainless vs New Appliances

I have a question for Landlords/Tenants. Is it more important to have new applainces are do you absolutely have to have stainless appliances in your rental?

I have stainless in one apartment and my tenants said it was nice to see when they were looking but actually hate trying to keep them clean.

Does anyone have an opinion on appliances for a rental?

January 24, 2008

Dish Washer vs. More Cabinet Space

For all you renters out there, I want to get a true sense of what's more important. A clean, well put together apartment w/ reasonable rent. or a more expensive apartment w/ a dish washer and less cabinet space in the kitchen?

For Landlords with dishwashers in your rental, how much difference does it make to have a dishwasher in relation to the types of potential tenants that come?

Thanks

Yellow Pine

I'm about to refinish the Yellow Pine Floors in my rental unit. Has anyone dealt with Yellow pine b/4 and does it make sense to stain them, or just leave them natural with a satin finish. Any feedback is greatly appreciated

January 23, 2008

1800 Wood Floors

Has anyone had any experience with these guys restoring or refinishing your brownstone floors? If so, I'd like to hear details and quality of work. (or lack there of)

I'd also like to get recommendations for refinishers. And if you could include cost (i.e. $ per Sq/ft.) that would be helpful.

Thanks

Author's Comments

I Love it. I'm a huge fan of grass. If you don't mind my asking, what kind of cost did you run into?

Posted by: PutnamStoner at July 30, 2008 7:19 AM in response to Garden of the Day: On the Edge of Carroll Gardens

Every listing that Keith Mack has had in Bed-Stuy, he's listed at or above $1MM. A couple of them were HOTD last year on Hancock. They eventually moved for about $900K. So I guess there's a method to his madness. Everyone complained about how crazy his price was for Bed-Stuy.

Since we're talking about Bed-Stuy, can someone please tell me what is it with the potato chip bags and half eaten chicken carcasses on the sidewalk? I've never had to sweep so often in my life.

That said, I wouldn't move if you paid me. I Love the Stuy and Putnam is a great, friendly, neighborly block. Some of the newer folks just have to learn that we say "hello" to everyone when we see them. Leave the Manhattan attitude on the Island!

Oh.. and the Bed-Stuy Blog... Simply the BEST!!!

Posted by: PutnamStoner at July 28, 2008 1:46 AM in response to Open House Picks: Bed Stuy Edition

CGModern,

You must be an urbanbaby frequentor. LoL

Very Nicely done!

Posted by: PutnamStoner at July 21, 2008 11:57 PM in response to Garden of the Day: Carroll Gardens Make-over

New Southsloper is exactly right. Once the lease expires, if no notice or new lease is received, NY Tenant law states that you become a month to month tenant. I would absolutely refuse to pay the addition retroactive increase.

That said, private owners can raise the rent to what ever the wish.

Posted by: PutnamStoner at July 1, 2008 9:50 PM in response to Raising the Rent - backdating..?

You were wrong, yet your hoping the previous owner will get stuck with YOUR Ticket?

Fortunate for the previous owner, the ticket goes to the house and it's current owners.

Suck it up and pay the ticket. Now you know better.

Posted by: PutnamStoner at June 26, 2008 1:07 PM in response to Sanitation Ticket -- Wrong Name

I second the Mohammed recommendation. He's great. Did 1 floor (complete rewiring to code) works neat and reasonably priced. Also, fairly quickly.

Posted by: PutnamStoner at June 26, 2008 1:03 PM in response to electrician

I would suggest leaving the floors to the very last thing. although I had the floors done prior to the painting due to scheduling. I just made sure every inch of the floor was covered.

Posted by: PutnamStoner at June 2, 2008 1:23 PM in response to Which first - Floors or Painting

3:59 I was nervous to say it but the folks I spoke to at Brownstone didn't sound like the brightest stars in the galaxy and it definintely gave me pause.

2:07 sorry I neglected your question. I'm on Putnam Between Marcus Garvey & Throop. Not close to water in the least bit.

I just got quote from State Farm $875K coverage $500K liability, etc. $1,580 per year.

Not sure what to make of it.

2:51, a pipe breaking or vandelism isn't "Unthinkable" to me. And anything less than $5,000 in damage, I doubt I'd even bother getting the insurance company to pay for it. Been there done that, and IT AINT WORTH IT. The insurance company more than makes up for it with the increase in premium after the claim.

Posted by: PutnamStoner at May 14, 2008 4:29 PM in response to Getting Dropped By Allstate

Thanks for the comments. I'm quite aware of the necessity to protect yourself against the unthinkable. But I've lived in and around NY for most of my 36 years and have been through some pretty bad hurricanes. I don't remember Brooklyn ever flooding and find it hard to imagine a Katrina-esque catastophe occuring here. I know.. I know... Ya never know.

For those with Brownstone Agency, is that the group that makes you pay 3 years up front?

I'm not interested in the "cheapest" or the Chubb like " best " We have 1 1/2 floors of authentic period detail, so I can't justify paying for Chubbs ability to get it back to where it was. I'm just looking for someone to pick up the ball where Allstate dropped it!

Thanks again.

Posted by: PutnamStoner at May 14, 2008 2:44 PM in response to Getting Dropped By Allstate

STAY FAR>>>> VERY FAR AWAY from 1-800-woodfloors. They will do a bait n switch on you. The have a batch of sub contractors that fight for the lowest price and they send them to your place. Those contractors will then change the price to something much more expensive when they see your place. (1800 gets you to make a deposit on the phone b/4 anyone has seen your place.) Then when you balk at the price they will refuse to refund the deposit because the contractor traveled "all way to your place"

If you check the archives, you can find a gentleman named Carlos who does EXCELLENT work. I don't have his number handy but he's mentioned a couple times. He did my 100 year old rental soft yellow pine floors and did repairs and made them look incredible.

Contact me for pictures. soloflex91@aol.com

Posted by: PutnamStoner at May 14, 2008 10:43 AM in response to Wood floor refinishing: reccos?

10:07,

$8 bucks an hour doesn't even get you $1000 a month after taxes. You must be using that new math.

I'd love to see a breakdown of homeowner expense vs income ratio.

Posted by: PutnamStoner at May 2, 2008 10:24 AM in response to Study: Brooklynites Bearing Heavy Rent Burden

I suggest you speak to a landlord/tenant attorney. This group is not exactly the authorities you should take suggestions from.

That said, as long as you have a lease, you won't have a "legal" problem. If you have to take them to court for a "holdover" proceeding, just being pregnant or having a baby is not enough for a judge to force you to allow them to stay in your place.

I would suggest having the couple sign a side letter to your lease with expressed specifics about the details of your situation.

That's about it.

Good luck.

Posted by: PutnamStoner at April 28, 2008 12:00 PM in response to throwing the baby out?

I would be "over the moon" as well. Beautiful house on a Beautiful block. Glad to see some good "folks" got the place. Welcome to the hood.

As a former Bed-Stuy house tour participant, I encourage the new owners to get on next year's tour. It will be a two way reward.

Congrats again!!

Posted by: PutnamStoner at April 28, 2008 11:54 AM in response to 404 Stuyvesant Avenue: Missed Opportunity, Happy Ending

1:10, 1:16, 2:21 & 2:51

I almost went without bothering to respond to you, but I do want to point out that your unvaluable input puts a damper on the value of this site overall. But I will humor you.

Me living in the neighborhood of Bed-Stuy was me giving potential repsonders a bit of insite to my situation. I was hoping to get feedback from other "BED-STUY" residents who happen to be in my situation and have a bit of advice aside from the obvious.

So in the future, you should really attempt to refrain from saying anything that adds no value.

Putnamdenizen, as usual, Thanks for your suggestion!

Posted by: PutnamStoner at April 9, 2008 7:28 PM in response to Day Care in Bed-Stuy

I totally agree with 5:20. I have a 3 family, and a huge benefit was when one tenant moved out, I had the income from the other. It also depends on the size of the building. A 3 family 3 story building is less favorable than a 3 family 4 story building. ( I have the latter) That gives you a duplex, with 2 floor thru apartments.

I doubt very seriously, that the appreciation will be impacted as much as the agent is making it out to be.

The question you should ask yourself is what do you really want. How much space do you want for yourself. If you want a duplex, and don't need the income, then either a 2 or 3 family will do you just fine. But if you want/need the income, a 3 family 4 story building is your best option. And I gaurantee you you'll have no problem selling the place if it's in great condition.

Posted by: PutnamStoner at April 9, 2008 7:16 PM in response to Two Family v. Three Family

I second the recommendation for Muhammed. He and his team are super polite, work very neat, and are very reasonably priced.

He rewired, an entire floor in my 4 story brownstone in Bed-Stuy

Posted by: PutnamStoner at April 8, 2008 12:21 PM in response to electrician rec's?

Be sure to tell him Tim on Putnam sent you!

Posted by: PutnamStoner at April 2, 2008 5:37 PM in response to General Contractors

Call Mike. Electrician/Carpenter. Did a complete rewiring of one of the floors in our brownstone. He does great work, and more importantly, works neat.

Let me know if you want pictures of our space.

His number is 646-226-4575

Posted by: PutnamStoner at April 2, 2008 1:19 PM in response to General Contractors

Home Depot Expo has quite a few 6' & 7' tubs. Not on their website. You need to go to their showroom. Try the one in Westbury, Long Island.

Posted by: PutnamStoner at March 11, 2008 8:46 AM in response to real long 6 to 7 foot rectangular bathtub -

You are thinking about this all wrong. The advise from the broker is obviously skewed and biased. He'd love for you refi as often as he could get you to so he could get the fees.

You have to take in to consideration the cost of your refinance, the #number of years you plan on being in the property, and the rate at which you can refinance.

if the math makes sense, then you should obviously refinance. If you refinance and you end up paying more than you were paying prior to refinancing, (assumming you refinance for an equal or longer period of time as the original loan) you got HORRIBLE advice.

just my 2 cents.

Posted by: PutnamStoner at March 10, 2008 5:39 PM in response to Refinancing Mortgages? - what's the average?

1:44, I don't think Mr. B is giving an opinion on the price point where the home will close. I think he's suggesting that based on the "Apparent" cost basis, this owner would get a considerable return should they sell the property at the listed price.

I would call clearing $1.2MM in profit for a 2 year investment a Home Run too!

Posted by: PutnamStoner at February 21, 2008 1:49 PM in response to House of the Day: 50 Downing Street

I think the "Renovation Plaza" comment was a funny Punn. I've never seen the place and renovations not going on.

Restoration Plaza is located between New York & Brooklyn Aves and Fulton St.

Posted by: PutnamStoner at February 21, 2008 10:43 AM in response to Got a grocery store you love--or even kinda like--in Prospect Heights, Clinton Hill, or Bed-Stuy?

You should check the renovation blogs. You'll get a good look at some before and after photos.

If you're talking $500K-$750K in renovation costs, that money should be able to repair ANY BK brownstone in ANY condition.

That said, you need to know that the house has good "bones"

i.e. no termite damage, good, solid foundation. Solid, straight joists, etc.

Get yourself a good inspector and take a careful look.

Aesthetically, the house doesn't need to look perfect. Sheet rock and plaster are not the things you should be making decisions on if you're thinking of putting more than $200k of renovations in.

Hope this helps.

Posted by: PutnamStoner at February 20, 2008 10:42 AM in response to Renovating a house in terrible shape???

You already know that 3 of the tenants don't pay rent. Why may I ask are you looking to buy this place? I had a heck of a time getting 1 tenant out of my building... 3??

Caveat Emptor is the perfect phrase!

Posted by: PutnamStoner at February 19, 2008 12:00 PM in response to Buying a house with tenants???

And NO, I'm not a broker. Just would love to see some more conscious family oriented families come on over to the Stuy!

Posted by: PutnamStoner at February 19, 2008 11:08 AM in response to Newbie Homebuyers Face New Challenges

I've been going on and on about the HSBC Community Works program for about 2 years now. I got my conforming 30yr fixed rate mortgage in '05 for 4.875% when regular rates were @ 5.75. Anywhere in Bed-Stuy or the CH/BS border will qualify. It's a program that is targeted to lesser developed neighborhoods with the intent of attracting quality home/business owners.

http://www.us.hsbc.com/1/2/3/personal/home-loans/mortgage/mortgage-rates/nat-rates

Check the rates today vs. conforming rates.

They also have a good package renovations loan. I didn't find out about that until after I closed.... but it worked out better for me since I saved enough to do it with cash. ( but it sure did hurt)

Posted by: PutnamStoner at February 19, 2008 11:06 AM in response to Newbie Homebuyers Face New Challenges

9:33, Do you have pictures that you wouldn't mind sharing?

Posted by: PutnamStoner at January 25, 2008 9:28 AM in response to Yellow Pine

Extremely helpful. Thanks for your thoughts. Any others?

Posted by: PutnamStoner at January 24, 2008 4:41 PM in response to Dish Washer vs. More Cabinet Space

Mrs. Limestone,

I'm green with Envy. The Corbels... Where'd you get them? How much did they cost?

Also, if you don't mind, what was the cost of your cabinets?

sorry to be so intrusive. I'm right at the point where I've got to make purchases and I don't want to over pay, or have false expectations.

Posted by: PutnamStoner at January 24, 2008 10:59 AM in response to Kitchen Progress Heats Up

I'm wondering how difficult would it have been to proof read that? I mean.... It's the first friggin' sentence! Or maybe they were more focused on clip art and getting the phone number right.

Good Grief!

Posted by: PutnamStoner at January 24, 2008 10:43 AM in response to 110 Livingston Rental Ads Go Underground

could you expand on the "minor problem areas"?

Posted by: PutnamStoner at January 24, 2008 10:39 AM in response to 1800 Wood Floors

I recently got a quote from Carlos. I thought it was a little high, but I really liked his energy. I'm also got a quote from 1800 flooring. They sounded extra professional and their price came in below ANYONE.

Has anyone had any experience with either?

Posted by: PutnamStoner at January 24, 2008 10:38 AM in response to Verrazano Flooring?

I'd love to take the Parquet floor and doors. Email me at soloflex91@aol.com I can pick it up today.

Thanks.

Posted by: PutnamStoner at January 24, 2008 10:28 AM in response to Salvage materials to give away

I'm 11:24. Sorry, I wasn't able to sign in earlier. I had to do this myself. (not a pleasant experience) Ysabelle is completely right in saying the courts and laws are pro tenant. But take that with a grain of salt. Judges are not fools. And they can readily spot a tenant trying to take advantage of a living situation. That said, you ABSOLUTELY must have all your 'ducks in a row'.
I consulted with an attorney first, but just couldn't swallow the fee. Here is a resource that can be fairly helpful.

http://www.nycourts.gov/courts/nyc/housing/pdfs/Landlordbooklet.pdf

I used it along with the help of the pro se attorney.

From start to finish, I ended up with the tenants getting out, saved on the atty fee, and only had the apartment vacant for 1 month, and ended up with the tenants from HEAVEN!. It can work for you

Good Luck.

Posted by: PutnamStoner at January 23, 2008 4:32 PM in response to Non-payment of rent

Responses to Author's Forum Comments

Plastic is the tricky one. When I walk down my block and see all the neighbor's trash in clear bags, I often see items that NYC doesn't recycle. It's unfortunate because I know these neighbors are tyring to do the right thing, i.e. recycle, but the city's rules are very confusing. They only take #1, #2, #5 "bottle shaped" items. That means no yogurt containers, no deli containers, no clamshell holders of strawberries or grape tomoatoes. Only beverage bottles, dish soap, lotion, shampoo bottles, etc... with those numbers. Perhaps some of these items ended up in 4:38's bags and he/she got ticketed for them.

Posted by: guest at June 27, 2008 1:54 PM in response to Sanitation Ticket -- Wrong Name

Absent controls, a landlord can ask for anything he wants. However, a lease is a contract and NYS law prohibits automatic contract extensions without prior notice of intent to renew. Even if the terms of the lease hadn't changed, your boyfriend defaulted to a month-to-month tenant with the terms of the previous lease.

Posted by: Steve at July 1, 2008 11:15 PM in response to Raising the Rent - backdating..?

At the very least he should wait 2 months to pay up the supposed back rent.

Posted by: guest at July 1, 2008 11:54 PM in response to Raising the Rent - backdating..?

I believe the landlord is required to notify him of the rent increase 30 days before it would go into effect. Retroactive rent increases would be illegal - unless there was something in the lease about an automatic increase (say %10) at the end of the lease term. Never heard of that in a residential lease though.

Posted by: Heatherie at July 2, 2008 8:52 AM in response to Raising the Rent - backdating..?

I believe everyone that said your boyfriend is, by default, on a month-to-month rental upon expiry of the previous lease is correct. The thing is, though, this gives the landlord the right to terminate the rental with 30 days notice if he and his tenant can't come to an agreement with regard to the amount of the monthly rent. If the landlord is hell bent on getting the extra rent he could quite easily circumvent the dubious legality of retroactively charging the increase by revising the requested rent increase upwards by $30/month to recoup the $300 over the next 10 months. Of course, the entire matter is subject to negotiation and in that process both your boyfriend and the landlord will be balancing the financial aspects against the hassle aspects of moving / finding a new tenant. And, yes, absent rent control or stabilization the rent increase can be whatever the landlord thinks the market can bear.

Posted by: johnife at July 2, 2008 9:16 AM in response to Raising the Rent - backdating..?

hmmm...if your boyfriend is willing to bear the increase, why doesn't he just tell the landlord that he accepts the increase and will begin paying next month (and he can modify the lease accordingly). i doubt the landlord ever expected to collect the backrent, and they'll be happy he didn't try to negotiate the increase.

Posted by: guest at July 2, 2008 9:41 AM in response to Raising the Rent - backdating..?

if i was your boyfriend, I'd just change the effective date of the lease by hand, sign and return.

No conflict necessary.

Posted by: slick at July 2, 2008 2:03 PM in response to Raising the Rent - backdating..?

maybe the landlord wants him to leave? communication is always the key to a good relationship.

Posted by: guest at July 2, 2008 9:27 PM in response to Raising the Rent - backdating..?

Did the landlord let your boyfriend know of his intentions to raise the rent by $150 once the lease expired? It sounds as though your boyfriend already knew of the increase and just didn't bother to communicate with the landlord about the new lease, just as the landlord was lax about writing up a new one. I still believe, however, that in all decency the landlord should not try to recover the other two months increase and just reflect the new amount in this new lease, and start the new lease term this month ending one year from now with the new rent amount reflected. Hope all works out well for you.

Posted by: fedefedel at July 5, 2008 5:24 PM in response to Raising the Rent - backdating..?

Did the landlord let your boyfriend know of his intentions to raise the rent by $150 once the lease expired months ago perhaps? It sounds as though your boyfriend already knew of the increase and just didn't bother to communicate with the landlord about the new lease once the date hit, nor increased his check to him, just as the landlord was lax about writing up a new lease and going forward. I still believe, however, that in all decency the landlord should not try to recover the other two months increase and just reflect the new amount in this new lease, and start the new lease term this month ending one year from now with the new rent amount reflected. Hope all works out well for you.

Posted by: fedefedel at July 5, 2008 5:25 PM in response to Raising the Rent - backdating..?