All Forum Posts by: Brandon Ingegneri

I would have to agree with @Mike Dymski.  If they have been there long term and haven't made waves, let it ride. If and when they leave that they cause actual damage, what difference is $150 going to make at that point at a risk of losing a solid tenant who has been there for a period of time already?

You have to run your numbers and see if putting x down and then financing gets you whatever your desired cash flow is.  If not, the offer needs to be lower.  

I would have to say the biggest thing is making sure the units are clean.  First and foremost that will help you to get the better quality tenant.  While I think people here have suggested some great ideas, I think those should come only after the units themselves are squared away to a caliber that can create a rental demand. 

If the units aren't at that point, I wouldn't even add a dishwasher as an amenity much less a putting green, bbq, garden, or activity area. Having said that though, if it is up to snuff, a bocce court is key.

5% is fair all day long in just about any market. 

@Casey Charkowick just one thing that you mentioned about not being find any home runs.  I know quite a few professionals meaning real estate investors, attorneys, etc who have become millionaires many times over because they consistently hit singles, doubles, and triples.  The volume of deals is where the bulk of the money is made.  When a home run presents itself, you definitely need to swing at it.  

If you hold out for only home runs, swing and miss, you will most definitely feel the sting.  If you have been consistently hitting and all of a sudden you see the potential to hit a long ball, your all ready to go.  If you miss, the impact will be minimized.  Just food for thought.  Best of luck with the South County deal. 

I'd like to weigh in on this with a somewhat unique perspective.  I have owned rentals for quite some time now, and a separate property management company for rentals not owned by me grew because other owners saw the quality of work that we do, they saw the efficiency in which we operated real estate, and ultimately they came to us because we were fair and had favorable reviews.  The only way to have longevity in business is to operate it like a legitimate business whether your in real estate, own a dumpster company, or anything from A to Z.  Warren Buffet said, "It takes 20 years to build a good reputation and 20 minutes to destroy it or build a bad one".  I try to remember that with all of my interactions.  

Having said that, as an owner and someone who manages the rentals of others, I would have to say that my first inclination is for the owner of the property to self manage, especially early on.  Learn the business, understand what you know, what you don't, what you are good at, and what you are not.  Make those improvements in the weak areas and learn all aspects of the business.  Ultimately, the time you spend in the trenches taking grenades will help in your ability to problem solve.  At the end of the day, thats all this business really is... problem solving.  

After you have gained some experience and have grown a little, understand the day in and day out of things, if you still want to utilize PM, then at that point I would say it is something to consider.  

@Tara Gupta I would be interested in discussing this further with you at your convenience. 

@Tara Gupta, please feel free to contact me at your convenience.  We can handle most of the items on your list right in house.  The windows, insulation, and electrical won't be a problem at all.  I would have to discuss the rainwater capture further with you, depending on what you choose, but that shouldn't be an issue.  

I know someone who strictly wholesales. He buys cheap cheap, simply cleans a house out or will do a bare minimum facelift, and lists below market value on the MLS. That individual has consistently made between $400-$600k per year for the past 10 years. Ive seen the tax returns. I'd say that he is an investor.

I dont know how it works in VA, but here in New England, you own it from where it T's off at the street. Building codes here require the lines to all be installed below the frost line. At 18" that is why you experienced the issue.