All Forum Posts by: Adam Bartomeo

We aren't flipping. Flipping has too many tax pitfalls and there are too many unknowns - tariffs increasing prices, Days on Market, declining sales prices, etc. Buy rehab, rent, refi, rinse, and repeat.

The far majority of our unit turnover expenses are covered by the tenant's security deposit. Sometimes they can be higher due to normal wear and tear. We pay $400 for a cleaning of a 3/2 1,700sq. A 1/1 is normally $200.

We list on 30 different websites and Facebook Market Place. Listing on the major websites isn't enough in todays market.

We would likely let them slide this one time, stating that alterations need approval and moving forward they would be charged to put it back to the way it was. We always request a key in these instances. If they do not provide one then we change the lock, provide them with a key, and charge them for the new lock.

If the property cannot be shown then there is no reason to market the property. There is a lot of vacancy right now and you would just be wasting time. Also, we really try not to list the property until it is 100% ready to be viewed and tenantless. Most tenants are not neat, clean, and they definitely don't like the unit being shown while they are still living there. 

2.5 times is on the lower side. To rent to someone with that low of a ratio we would require several months of advance rent. This would protect the owner if the tenant was not able to pay.

I don't see how they are "double dipping" nor do I see a problem with them owning the landscaping company. There are 2 different fees for 2 different tasks. No matter who owned the landscaping company you would pay for someone to cut it. I would prefer that that PM owned it because as an owner you would have more leverage.

In my opinion, depending on how the landscaping company is set up they may or may not have an ethical obligation to inform the owners of the ownership. I can understand about being upset about this because once there was an issue the PM should have handled it head stating that they were the owner and would handle it.

@Deborah Grantham Flying out over lawn service seems extreme. You don't fly to McDonalds Headquarters if you got home and discovered you were served the wrong burger. You would handle it via phone or email.

We got out of that business years ago. I am sure that you can do well with it in several areas of the country but in SWFL it is a train wreck.

We either have a builders risk policy or run without insurance. Builders risk is expensive and there aren't any refunds no matter if you finish early or not.

Cape Coral is on SALE right now! There are deals everywhere.