All Forum Posts by: Agustin Conti

@Agustin Conti Another useful source is looking at comparable rentals on FB marketplace. We read the comments on other listings too. If other properties are renting for ____ and yours is the same you should be able to command that rent. Rents have stabilized (higher) for the most part. Best case you list high, get showings, and receive applications. Worse case you don't get attention and have to reduce the rent until you find a qualified tenant. Also, look at comparable sized apartments! Our recent tenant moved out of 2-bed apartment that was $1100 per month with no garage. Our rental was listed for $1150 with a 2 car garage so it's a bargain compared to apartments in our market.

I don't know your experience level but if you're listing on FB marketplace (great place) be prepared for the "tire kickers". The best advice I ever got was creating a pre-screening response. We simply copy/paste the same message over and over and weed out 85% of the people. They usually ghost you. We assume over half don't even read the listing details. This saves so much time and effort before scheduling any showings.

Thanks Jaron for the good info. I am not sure how useful this will be in sparse, rural, wooden areas like the ones I am looking for but I wll def check it out. I don't have the property yet but I need to have a pretty good idea of how much it i will rent as it has to at least cover all costs including mortgage. thanks!

1 Vote

Western NC, North Carolina

HI everyone, I am not sure if this is the right forum to my question but I am having trouble finding accurate data for possible rentals (how much a property can be rented for). I am looking for a house in western NC, northeast GA or North West SC, an area that I know well from constant travel there and vacationing. I am in Florida and I already have a rental doing very well in WNC. but I find the information from both zillow and rentdata.com very off within each other and possibly with the market (I know at least how much I make on my rental! and is much more of what they said). Any tips to find this info. This bigger pocket website and forums seems a very good source of information but its very overwhelming at the same time. Thanks in advance. Agustin

2 Votes

Western NC, North Carolina

Hi Folks, an UPDATE. thanks a a lot to everyone for sharing important tips and info. We did fix the issue and did not proceed with fighting the insurance. The issue is fixed and the tenants will renew the lease, that will continue to provide cash flow while the property value continues to rise. Time to find the next deal and move on, now the trick will be to be able to find the lender..thanks everyone!

0 Votes

Fort Lauderdale, Florida

Quote from @Tim Herman:

@Agustin Conti Why do you think you have a case? Most failures of cast iron pipe will be considered capex. Maybe some of the damages from the leaking pipe might be covered.

What is capex or what do you mean considered capex? not valid/covered?

0 Votes

Fort Lauderdale, Florida

Quote from @Carlos Ptriawan:

Quote from @Agustin Conti:

Quote from @Jason Bott:

@Agustin Conti unfortunately both of these items fall under normal wear and tear and would not be covered.

If you have a claim that falls in the grey area, you want to start with your agent first. They should be able to pull the section of the policy showing where coverage is found and cite where the Exclusions are limited and do not apply to your specific claim.

The insurance carrier isn't going to go to mediation until they have concluded their is coverage in the policy. The mediation is really a negotiation of the $ amount, not if there is coverage.

Hopefully your agent can find some solution for you.

Hi Jason, Thanks for the info. Well the Insurance company offered the mediation. I didn't even know that was a possibility until the insurance agent mentioned. I know what a mediation is, exactly what you describe.

you could, explain your case to the public adjuster that's friendly, then she/he will give you advice for free, if it makes sense for them to jump, or not. In this case my bet is no.

Yes, I am talking to both a lawyer and an adjustor today. Again, my concern and question here is: Does anybody have experience with mediation (in Florida or otherwise) with a home insurance company? Thanks everyone!

0 Votes

Fort Lauderdale, Florida

Quote from @Jason Bott:

@Agustin Conti unfortunately both of these items fall under normal wear and tear and would not be covered.

The insurance carrier isn't going to go to mediation until they have concluded their is coverage in the policy. The mediation is really a negotiation of the $ amount, not if there is coverage.

Hopefully your agent can find some solution for you.

0 Votes

Fort Lauderdale, Florida

thanks guys, I am looking for input from people with experience with the mediation process with home insurance companies that may help me prepare for it or even decide if its worth a shot, not if I have a case or not.
I have 2 issues in the pipes:

one section with damaged floor (gone, rusted) that did not create the clog in the toilet that caused this turmoil, as water flows through the damaged pipe no problem. That is not covered (and the reason why the claim was denied)

AND root intrusion very visible in another section of the pipe that caused the backlog on one toilet. Root intrusion is covered under the policy. They should pay to access the pipe, they don't cover the pipe themselves. That is the most expensive part of the project. They denied the claim based solely on the the first issue and conveniently ignored the second one which is the one that provoked the clogged toilet. I know I have a case.

Thanks,

1 Vote

Fort Lauderdale, Florida

Hi, I put a claim on old cast iron pipes that went bad with the insurance company on a rental property and my claim was denied. I have need told by the insurance agent that I can request a mediation, to see if we could reach an agreement and before considering calling a public adjustor. I am pretty sure we have a case. Does anybody have experience with mediation (in Florida or otherwise) with a home insurance company? I am gathering information and trying to see if it worth it and how to prepare for it. (No lawyer involved here) The insurance pays for the mediation.
Thanks,
Regards
Agustin

0 Votes

Fort Lauderdale, Florida

Quote from @Julie Johnson:

Quote from @Agustin Conti:

Quote from @Julie Johnson:

Quote from @Agustin Conti:

Quote from @Rod Hanks:

Sorry, but that won’t be covered by insurance. Keep getting estimates from reputable companies, the biggest cost is digging, the pvc is relatively cheap. Estimates will vary from company to company with the yellow page TV plumbing companies charging the most and just subbing out the digging. Ask other investors in your area for referrals. The sewer line age is the item I look for when inspecting a house to buy, because it can break the budget if it needs to be replaced.

Thanks for the advice, I already found the guys.

Hi Agustin, my husband and I own a rental property in Fort Lauderdale and we recently found out we need to do exactly the same thing. We did receive 2 quotes from reputable companies that our neighbors have used and the city of Sea Ranch Lakes and Lauderdale By The Sea use as well. Do you mind my asking what company you decided to go with? We would like to get another estimate as our 2 estimates are hugely different. 2 different approaches but both under the duplex and not thru the floors. Prices range from $32k - $50k. Appreciate any information you care to share. Thanks

HI Julie, I am using A1 Underground & Plumbing Services LLC, I will be able to give a recommendation after the job is done but so far have been great to deal with. Fast and easy communication, clear and concise proposal with minimal interruptions and no interior work! (only a hole will be made outside in the patio) Common sense in every aspect of it and with a reasonable price under $29k (excluding city permit). Miles ahead in every department from any of the other ones. As expected they are very busy and can only do it at the end of April. But once in contract with them they can come out and snake (or clean) clogged toilets or lines as needed for free until the job starts.

Hi Agustin, we just signed our contract with A1 as well; before you advised who you had decided to go with. It will be pricey but we can not do the lining and that is only guaranteed for 10 years and is almost the same price. If you are going to do it, I believe in doing it once the right way. Thank you for your information and here is to hoping things go smoothly and quickly!

I believe that is a smart choice, fingers crossed. Did you try to go through insurance? My claim was denied and I am going to mediation (i did not know that existed) before considering calling a public adjustor. We do have a case if there is root instrusion in the pipes as opposed to just old rusted ones, we have actually both issues present so we can fight for the roots parts with the insurance company.

0 Votes

Fort Lauderdale, Florida