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Re: buy-out figuring

Posted by richard on January 19, 2000 at 23:23:07:

In Reply to: buy-out figuring posted by Raymond Howard on January 19, 2000 at 19:56:21:

You know i say those things just to shake people up.......sometimes to
give em a good laugh....

But to assume to get $$$ just because your rent controlled is pretty damn
bold.... and it really does not set well with people like me who had to
pay market rates and couldnt save a dime toward buying a place... we
only got lucky because our apartment wasn't registered and it was an
Illegal sublet.... and that after 4 years of paying rent ON TIME.

So how much did you save toward buying a home $50,000 $75,000 more,
then why would you need a buyout?

AHHH but what happened is you spent what you made figguring your
cheap rent will last forever and you need some cash for a down
payment.. right?

Or else you would have already purchased a home, and the landlord would be trying to evict you on non primary residence, then you could talk a buyout and I wouldn't mind.

So now youre trying to figgure a way to screw the landlord one last time.


: My thanks to Mark and Mike for their sincere concern and interest about reaching a feasible buy-out figure to present to my building owner... I am confused by the phrase " get the pesent value of that cash flow stream at,say 7% over 40 months... the actual figures involved are my rent of $131.39 ( increases were lost over thirty years of refusal to correct violations by present and past building owners )... and the possible income from my floor through railroad coming in at an annual $24,000 to $27,000, depending on much the place is chopped up... so that's it... my annual $1560 vs. the possible future rents... so what's a reasonable buy-out figure???...As to Richard"s suggestion that the owner will wait til I can't get up the stairs??? I've been doing it for the last thirty years and am good for at least another twenty. As they sang in West Side Story, " Smoke on your pipe and put that in. "...Again I thank Mark and Mike. Sincerely,R.

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