All Forum Posts by: Brandon Ingegneri

@Anthony Thompson is right.  Most of the structural changes you can make if you are willing to make the investment in the work and zoning work.  Having said that, the x factor us usually the lot size.  Ive had property where adding an additional unit is a no brainer based on layout. When you contact the city, the lot is not big enough.  Ive even discussed purchasing an abutting lot.  No luck there, still not big enough according to the city.  It is definitely worth a phone call to zoning to find out.  If they don't give you the green light though, it the cash isn't worth the risk if something were to happen.  You could give some thought to including basement access to your first floor unit and increasing rent as an alternative.  

You are certainly entitled to your opinion.  I do not buy materials and pay labor costs for a job without the customer having some skin in the game to ensure they don't screw us.  It is hard enough getting customers to pay their final payments when work is completed.  There needs to be a fair and equitable arrangement for everyone.  But again, you'r entitled to your opinion. 

To be honest, in New England it is not common to see them outside.  You may see a large disconnect on the exterior near the meters, but the panels are typically located inside of the house.  I'd recommend just making sure it installed in accordance with electrical code. 

Im sorry to hear that. It sounds terrible.  One of the key components is a solid insurance agent.  Having a sound agent and a good working relationship is essential in this business.  You've got to shop around for a savvy agent who can offer a number of companies for you to work with.

I recently locked up a single family, fire damaged house in Providence RI.  I was going to demo the house and blow out a quick rehab on it.  It's a bungalow, so it would be a fast renovation.  While the title work is being done, someone makes us an offer, so I decide to assign the contract which I have done a million times before.  Quick in and out profit leaving enough meat on the bone for the buyers, and it leaves me time to deal with projects that take a higher priority and better return on our list. 

I make it explicitly clear to the buyer's agent that they are not to hand out the lock box code or make entry without our permission and that the buyer is not to have the lock box code what so ever which is standard in RI.  Last week, I get a phone call from the seller asking if my guys are emptying out the house.  Apparently this buyer was given the code by her agent, began emptying the house, and sought no permission to do so in the process. 

When the seller showed up, the buyer lied to the seller telling her that we gave her permission to do this.  I have an executed agreement in place with this buyer to close, but given what transpired, I am furious.  Should I report the agent who is a partner with the buyer to the RIAR and DBR and blow up my deal, or should I close it and move on?   

Looking at it logically, my thought is just to close the deal, but given my level of anger and frustration with how they have conducted business thus far, I am inclined to make an example out of them.  I figured it would be a good one to throw out to the forums and am curious to read the feedback. 

Just have a clearly spelled out contract and that he is licensed and insured.  Always helps to have a copy of his driver's license just in case he tries to take the money and run.  50% is standard though to get the job started. 

Between what I own in Pawtucket and what we manage, the 2 bed minimum rent w/o utilities included is $975.  $1150 seems to be the cap.  At these numbers I have very little turnover.  Having said that, we do typically spend a little more on our renovations when we purchase a property, but our ongoing maintenance costs are greatly reduced, and we are able to be extremely selective with what applicants we choose to move forward with. 

Pawtucket is willing to allow you to build if you go through the proper channels.  Ive gotten approvals on lots that you would not think would be buildable, but they did in fact issue the variances needed.  They have been easier than some other zoning departments that I have dealt with in the past.  

@Nancy DeSocio I have a similar situation with a few properties in Pawtucket.  I can give you some insight into what I have done, and maybe one of these will work for you.  On Armistice Blvd, I have a 3 family that has a 2 car depth driveway.  It is one car wide.  What I do here is let the most senior tenant have the driveway.  I've been doing it this way for a number of years now, and there hasn't been an issue yet. 

I have one right off of exit 27 that has street parking only.  Luckily there is a park and ride that the tenants use when it snows.  Street parking is one of those things that kind of comes with the territory living in the city.  We have purchased the vacant lot next door and will be paving a parking lot in the spring. 

Lastly, I have one off of Lonsdale Ave that is a 3 family that is set in front of a 2 family.  Long driveway, but not ideal for all 5 units to park.  I let the back house utilize the driveway, and I purchased the lot across the street and made a parking lot for the front house.  At this particularly property, I do have a towing account, and I regularly have to have people towed if people don't park in the appropriate areas.  The parking situation is clearly laid out and explained to everyone, but for some reason, this property in particular needs some continued effort in this aspect.  I attribute it to the section of Pawt. 

70+ rental units and dozens of flips.  Below market multis that need work.  Plain and simple.  If it is a truly wholesale number for the property, I'll buy it if it.