All Forum Posts by: Adam Bartomeo

You will want the leases, contact information, and the deposits to transfer over. Before closing you will want to contact the tenant and inform them how and where to pay, how to manage maintenance requests, and who to contact for concerns.

We charge $500 per unit. A lot of companies charge the commission for the remainder of the property management agreement.

I always like to meet people in person but the majority of investors that work with me rarely meet me for years. We have phone calls, texts and emails. Every once in a while, we do a virtual call. AS long as you are doing your research and asking the right questions there isn't a need to meet in person.

We buy properties with existing tenants all of the time. The worse the rent, lease, or tenant, the worse the offer we present. Don't be shy to buy a property with an existing tenant but do your due diligence.

We waive late fees one time a year if the tenant isn't normally late. People forget, make mistakes, and have emergencies, you should have some flexibility in these cases. 

I never negotiate with the tenant "for services" as it is a recipe for disaster. We allow our tenants to have pets with a $50/mon pet rent. We would not lose a good tenant over $50 but I would suggest staying at the $100 and allowing them to have the dog. This is a fair compromise. 

We are very honest and ethical, if we were planning on changing the carpet before we identified the tear than we would not charge them. Otherwise, we would charge them for the repair. Repairs are not as durable as the original carpet and will not last the life of the carpet, we would take this into consideration.

SFH in Florida are on sale right now. I would suggest buying as many as you can in the next year. After another 12 - 18 months we should see stabilization and an increase in pricing.

We do not use attorneys but the process is probably much easier in Florida than MA. You should sell your property and invest in a Landlord friendly state, FLORIDA!

I would suggest waiting 12 months + for multifamily. For SFH, you can start purchasing now.