All Forum Posts by: Adam Bartomeo
Adam Bartomeo has started 50 posts and replied 2002 times.
Post: Looking for Advice on Structuring a Fair Real Estate Partnership
- Real Estate Broker
- Cape Coral, FL
- Posts 2,045
- Votes 1,301
From what you are saying it sounds a little one sided in your favor. I did this same deal - we were 50/50 AND they had to pay market rent to live there AND we both split the rehab 50/50.
Post: Manage receipts for multiple properties
- Real Estate Broker
- Cape Coral, FL
- Posts 2,045
- Votes 1,301
It will depend on how many properties you own. If you own one - ten a spread sheet is easy enough.
Post: What should I do if one tenant goes MIA?
- Real Estate Broker
- Cape Coral, FL
- Posts 2,045
- Votes 1,301
I don't know how you wrote your lease but ALL 3 tenants should be responsible for the full amount. Meaning, that if one or two cannot pay the other (s) are responsible. It shouldn't be your job to check in to make sure that one tenant is paying (unless you are renting by the room). When a girlfriend and boyfriend break up we hold both of them accountable until the end of the lease, same premise.
Post: What flooring is best for bedrooms?
- Real Estate Broker
- Cape Coral, FL
- Posts 2,045
- Votes 1,301
I always suggest getting products that can withstand tenant abuse. Carpets are the worst product for rentals because they are the easiest to destroy. Go with a hard flooring.
Post: Should I buy a long term rental or airbnb
- Real Estate Broker
- Cape Coral, FL
- Posts 2,045
- Votes 1,301
Florida is on sale rite now! I would suggest buying an LTR in a very price depressed area.
Post: Vacant for 2 months
- Real Estate Broker
- Cape Coral, FL
- Posts 2,045
- Votes 1,301
I do business from a far all of the time. Why can't you do it?
Post: 84% of Americans Think It's A Bad Time To Buy A House
- Real Estate Broker
- Cape Coral, FL
- Posts 2,045
- Votes 1,301
When 84% of the population says its a bad time to buy YOU SHOULD BE PART OF THE 16% THAT IS BUYING! Just bought 2 houses in Cape Coral, ITS ON SALE!!!
Post: Leaving tenant wouldn't let me in and wants to use security deposit for rent
- Real Estate Broker
- Cape Coral, FL
- Posts 2,045
- Votes 1,301
When a tenant changes the lock we take off their lock and charge them for a new lock. We don't normally show properties when the tenant is living there unless it is for sale. When it is for sale we give them 24 hrs notice and do not give them an option to decline.
Post: As the owner, what to make of the tenant complaining that the manager is bad
- Real Estate Broker
- Cape Coral, FL
- Posts 2,045
- Votes 1,301
You aren't providing enough info. Everyone has an opinion about everything. My opinion is that stocks are bad and real estate is good. Am I right? You need to understand what the tenant's complaint is before you make any decision. You also need to take into account that the PM is the warden and enforces the rules. Most tenants' bad tenants do not like their PM for this reason.
Post: tenant turnover for out of state investing
- Real Estate Broker
- Cape Coral, FL
- Posts 2,045
- Votes 1,301
It's hard to believe you when you say managing a property from out of state is easy when you have only done it for 2 months. On top of that you are already looking for advice. Once you have done it for a couple of years please come back and report how easy it is. As an experienced investor who has managed out of state - even though I own a property management company - I would hire a property manager for my investment.