All Forum Posts by: Brandon Ingegneri

Its all about the network.  I have closed on 3 multis in the past month.  All of them were off market.  Don't focus on the size of your network.  Everyone makes that mistake.  Focus on the quality of your network.  Think about it this way.  A shotgun casts a wide barrage when you shoot and does a lot of damage, but there is waste there.  A sniper is efficient and methodically picks away at its targets.  Networking is the same.  A core group of reliable people that you do business with and it will organically grow from there.  10 years, no mailings, no advertisings, and constant off market deal flow because I properly utilized my network.  

As frustrating as QB is sometimes, it is essential come tax time.  There are just some things that can't be accounted for in spreadsheets.  Having said that, I also have a number of spreadsheets that I utilize monthly. Quickbooks does allow the CPA to get back end property information squared away also. 

Call the tax collector's dept.  Ask where the physical tax bill is being mailed. 

All this does is provide you with negotiating points. Continue the conversation and work the deal. Let it play out 

Property has been sold.

Step 1. Consolidate all of your debt if you can. One note, one balance, one solitary headache to worry about. Sometimes step 1 in real estate isn’t related to real estate at all. When you do that, you will have a platform to work off of.

I have commercial property similar to this. What I have done is create several bundle insurance policies with my agent. Separate and apart from liability, auto, etc, all of our properties are bundled into our “polished apple” policy. These are easy houses to insure in better areas, wider distances between buildings etc. another bundle are houses that may be of a slightly lesser caliber. The third has individual houses that we need short term insurance on. These are flips, wholesale deals etc. 

The annual taxes should reflect this.  There is also a separate trash removal fee that is billed not included with the property taxes. 

With regard to what your overall experience will be, your efficiency as a landlord, screening process, leases, attention to detail regarding the managing of your property, timelines with lease enforcement, efficiency with repairs, snow removal, overall property management/maintenance, and the physical condition of the building will all be factors. 

Best of luck in your house hunt. 

I do have experience in this city, and in my experience, a good or bad experiences being a landlord here all depend on your process and ability to service the needs of the property and tenants.  It is a city where if you do not know what you are doing, it can turn into a nightmare, but can work out well if managed properly.  Also, take into account that property taxes are divided by 4 and then a 5th quarter is added on.  Depending on the condition of the brick and slate, these are nice features.  Would I potentially pay a little bit more if they were in great shape as opposed to a traditionally weather proofed house?  If the numbers allowed it, I would consider it.