All Forum Posts by: Adam Bartomeo

We almost always consider buying a tenant occupied property 

- It is instant income

- If it is a SFH then there is a discount on the price when it has a tenant

- You have time to delay any rehab and out of pocket expenses

Our first step is to ask the tenants about leaks. Then check the toilets and other areas to see if there are any faucet leaks. A runny toilet can cost $200 or so a month. Your increase is way over one leaky toilet, so these are probably a smaller issue. A $1,000 increase is normally an underground leak or tenant abuse. We have slabs and we normally have to repipe the units one by one to identify the issue. We have often found that tenants are washing their cars excessively and even running car wash/detailing businesses.

I think that whether a company implement AI or does not it will still come down to the company's values and core competencies. If they are a good and ethical company AI will allow them to be even better. If they are not a good company, then AI will only expose it more. One of our core values is to " Create Value". This is value for the owners, tenants, our company, and anyone that we work with. AI frees up time from the simple tasks and allows us to focus on creating value.

In every state that I have lived in, including NY, the tenant is responsible to pay the rent as long as they are still occupying the property. Yes, you can sue them for damages and money owed. The first step is normally posting a notice or sending it certified mail. For tenant two, having a conversation of their intent is a very good second step. If you feel like they are going to fight you should be prepared for another eviction.

The first questions should be around investing - do you own rentals? how many? have you done flips? how do you find your deal? After that it should be more around who they work with and their performance. How many sales per year? Do they work with investors? Do they sell retail or off market?

After my messy divorce at 43, I had ZERO properties, and very little money left. Six years later, I have built a successful brokerage, Property Management Company, own 20+ units, and I am partnered in a real estate fund. You can definitely start again and be successful. It was much easier to do being single than it was married... No wife, happy life! LOL!

I got my license to sell real estate as an investor to save on commissions and get access to the MLS. That turned into me being one of the top agents locally. Which turned into us managing over 300 units.

Yes, I would highly recommend getting your RE license.

@Rahman Sobhan Drew and his team are stand up folks. Even though I am on the other side of the country I would use them in the areas that they manage.

Unfortunately, it sounds like you didn't read your contract thoroughly enough or you did read it and decided that it was ok in the beginning. In my opinion, going to small claims court is a waste of time - hiring attorneys, paying court fess, and then trying to collect... 

Slow down... Just use an ozone machine to remove the odors. These machines are little miracle workers. We have used ours at least 100 times and we have never failed to remove an odor. Some odors take a little longer, but it has always worked.