All Forum Posts by: Brandon Ingegneri

Warwick, Rhode Island. Side by side duplex with long term tenants. Current monthly rent toll is below market at $1700. (Previous owner dropped rent for one of the tenants from $950 to $700). Newer roof, updated mechanicals, and property has been required. The property is connected to sewers and city water. One unit is 3 beds, 1.5 baths, and the other is 2 beds, 1.5 baths. 215/217 Knight Street, Warwick, RI $199,000.00.

Time for the real estate attorney.  Get the ball rolling.  If she doesn't have a bank account, its the tell sign of only the beginning of issues. 

Typically I add it to the tenant's account, and it is due immediately. 

Keep it, especially if it is in the city limits.  

What state are these located in?

Congratulations.  Having paid $435k for the property, I would ask how much more you could invest and still be able to cash flow. From there, I would reverse engineer the largest projects that you would like to tackle. 

Light a match. J/K. I would try your approach. There needs to be a different angle that has not been explored in both the selling and renting fields. Between both avenues, there has to be something that can be changed up in your process to deal with it one way or the other.

We distribute funds no later than the 15th each month. Typically, it is done prior to the 10th, but we have set the expectation for the 15th so that in any given month, there is ample time to address a tenant’s payment issue should one arise.

Yes, I do own several there. Many of your applicants will be subsidized. I have been able to fill all of my units with non subsidized tenants though and have had a great experience there. The tenant selection process is a bit more involved to weed through the less desirables, but it can be done.

A. Once the property is performing.

B. Yes.

C.  70%-80% of the equity deepening on the institution.