All Forum Posts by: Adam Bartomeo

@John Clark Thank you for your concern with my paycheck. We do not base our decisions on a "payday". Good luck to you!

There is too much to list... But, here a are a few:

- have a lease break fee spelled out

- have as many fees/penalties spelled out as possible

- be clear about pet polices and penalties

- be clear about when people are allowed to be added to the lease

@John Clark Thanks for asking but I am unsure how that has any basis on the thread. How do you get paid?

Whatever multiple you use, it should not be a hardline yes or no. It should be a gray area or a guideline. Our goal is to find ways to say yes, not try and find reasons to say no. If they are below our 2.5 times rent multiplier we simply ask for advanced rent based on the added risk involved. 

Personally, I would not work with an owner like you due to inflexibility. I have found that ridged owners should not own real estate as they do not understand all of the "what if scenarios". 

Cut your losses now and start again fresh. I have lived this nightmare before... This is too large of a cash flow gap to make sense anywhere in the near future.

What's the address?

@Agustin Conti Do the math... I tried to warn you.

Great job! It is difficult to build and cash flow in Cape Coral.

You should take business as business and not take it personally. Also, I am fairly certain that you just announced to the world that you are breaking Florida State Law by overcharging on late fees. From my calculations your tenant would have to pay at least $7,500/mon in rent for your late fees to be in line with the law. Maybe you should hire a PM to handle the property as to take the emotion and liability out of the equation.

I think that this subject has been beat to death over the years... A primary residence isn't an investment... But, that doesn't mean it isn't a good purchase...