All Forum Posts by: Adam Bartomeo
Adam Bartomeo has started 50 posts and replied 2002 times.
Post: Partnership Dispute Problem
- Real Estate Broker
- Cape Coral, FL
- Posts 2,045
- Votes 1,301
Geez... sending a certified letter to a business partner over parking is WAY OVERBOARD! It would be the same as serving your wife divorce papers. Good luck reconciling this issue...
Post: Relist a rental on Zillow
- Real Estate Broker
- Cape Coral, FL
- Posts 2,045
- Votes 1,301
If it is also for sale Zillow will not allow it to be listed as a rental. Either way you need to start the listing over. We have never found a way to "relist" a property, nor have we wanted to. We always start fresh, it takes about 10 minutes.
Post: Equity Partnership Split with a Partner
- Real Estate Broker
- Cape Coral, FL
- Posts 2,045
- Votes 1,301
@Chris Seveney is 100% right. This is exactly how I have set these up in the past - 50/50, and they pay market rent. I have worked it out where they home stead it for 2 years and I manage it for 2 years but it can get a bit cloudy. It is best to spell it all out and treat it like a business.
Post: How Do You Fund a Flip Without Using Your Own Cash?
- Real Estate Broker
- Cape Coral, FL
- Posts 2,045
- Votes 1,301
@James McGovern 100% wrong! I use $0 ALL OF THE TIME! Bring a deal and/or knowledge and you can easily find partners that will fund them. I have one right now where I am partnered 50/50 with $0.
Post: Vacant home ready for rental
- Real Estate Broker
- Cape Coral, FL
- Posts 2,045
- Votes 1,301
It sounds like you are aware of what needs to be done. Fix it up and get it rented. You will want to make it as indestructible as possible, hard floorings, solid surface counters, no blinds, etc.
Post: Pets allowed, dogs , cats, both?
- Real Estate Broker
- Cape Coral, FL
- Posts 2,045
- Votes 1,301
We allow pets and RARELY have any issues whatsoever. The biggest issue we have is tenants not cleaning up after their dogs and some barking. To say that they are a big liability tells me that you may want to do some more due diligence to understand the risks vs rewards. We allow pets because we fill units faster, increase revenue, and have happier tenants.
Post: 30-day notice or not
- Real Estate Broker
- Cape Coral, FL
- Posts 2,045
- Votes 1,301
It seems like a "no brainer"... If these tenants are affecting the quality of life of other tenants, then they need to go.
Post: Listing and finding tenants - out of state
- Real Estate Broker
- Cape Coral, FL
- Posts 2,045
- Votes 1,301
Don't be penny wise and pound foolish. Hire a PM to find you a tenant.
Post: Property management 101
- Real Estate Broker
- Cape Coral, FL
- Posts 2,045
- Votes 1,301
If you are housing hacking then this is one of the safest ways to learn how to be a landlord. You shouldn't hire a PM until you fully understand land lording and can now manage your PM.
Post: Guidance on switching Property Managers from afar?
- Real Estate Broker
- Cape Coral, FL
- Posts 2,045
- Votes 1,301
I used to be a HUGE Robert Kiyosaki fan and I still LOVE all of his early stuff. One of the many, many, things that has stuck with me is to not hire someone who does not invest in real estate. I just interviewed an account who owns 5 rentals, hates, them and wants out of them ASAP. Why would I ever hire anyone who isn't headed in the same direction as me? There are so many "agents" that become PM's but have no idea how to truly manage the investment.