All Forum Posts by: Brandon Ingegneri

Here is what I have discovered in any market.  The value of a house is pulled out of thin air.  Ive had appraisals that were heavy handed, and others that were very light despite my efforts to hi light value ad.  Certain appraisers follow a strict guideline.  Others apply a little more common sense to the equation in addition to the analytics.  Its honestly a crap shoot. Very annoying process overall.  As far as Zillow and all of those other sites go. Rule of thumb.  No real validity to their "zestimates"

Diluting your equity is your last play.  Just watch Shark Tank.  

If you truly gave them your best offer, and they didn't bite and are 100% opposed to holding any type of paper, you need to appeal to the emotional side as opposed to the analytical.  This is where the salesmanship aspect comes into this business.  You need to create a value with them by one means or another that transcends monetary value.  If you can spin the transaction and make it less about the dollars and make it about a relationship that you have cultivated, that is your in.  Remember one thing about a sale.  Most people spend 5 minutes locking the deal up, and another 20 minutes talking, ultimately losing the deal.  Build a relationship, but be minimalistic.  Happy hunting!

You can't rent a slum, so I would say that the units need to be in overall good shape and clean.  As far as being modern or not... you may have a dated unit in great shape which a "good tenant" will respect.  You may not get the premium rent if it is not modern though.  If the unit is completely blown out, I would tend to think a more desperate applicant would be interested.  A respectable tenant would want a respectable landlord who maintains the property.  Dated is okay.  Deferred is not. Hope this helps to shed some light. 

Hardwoods are a no brainer if you have them. If not, click and lock vinyl plank. 

Looking forward to hearing feedback on this myself also.  I had called the credit bureaus previously to try and get this set up.  I didn't have much success.  I do know that if a judgement is passed, that can be applied to a credit report.  

I don't know the PA laws with what you are allowed to collect and what you are not, but think about it in terms of buying a property.  You sign a P/S, and what makes that document binding is when you place the deposit in conjunction with the physical paperwork.  In this case, the tenants have signed a lease, and to secure the property for an Aug 15 move in, some monetary consideration would be needed. 

I am not familiar with the specifics of NC, but generally speaking, you want to ensure that you have all of your leases, notifications, etc documented appropriately and provided in a timely manner.  The process has many less hurdles if attention to detail was implemented with paperwork as well as servicing the property.  When the I's are dotted and T's are crossed, it generally goes much more smoothly. 

I think that if you have a relationship with your property manager, you would need to fund distributions in blocks.  The property manager would then deploy from that chunk of money to the appropriate sub contractors, etc.  I am old fashioned with certain aspects of business.  I collect rents digitally, but pay subs or individuals via check as I usually see them on site.  If you didn't mail checks in chunks to your PM, you could always utilize Venmo.  I personally like the paper trail of a cleared check though. 

@Bruno C. You know I have someone for you.  Give me a call tomorrow and Ill put you in touch.