All Forum Posts by: Brian Karlow

Please send me the multi-families in IL, thanks!

Brian

Welcome aboard!! I'm super excited to see your interest and involvement at such a young age....I truly wish you the best and I know you will be amazingly successful!

Let me know if you ever need any help.

Brian

Hang in there Rachel and keep networking and talking to new contractors. I relate it to finding that "great" property....It's s numbers game, so don't get discouraged!

Brian

Hey Arthur

I'm in agreement with Justin....dump this guy and move forward.  BTW...driving 100 miles to supervise a paint job sounds like a horrible use of your time and talent....get a new contractor on your team and you will feel a million times better, trust me.

Good luck!

Brian

Hey Logan

My approach would be to replace the unit and have some peace of mind all around. This unit is old and at its service limit.....if it's me, it's gone....done.

Brian

What is the lease term? It may be worth your effort to ride this agreement out?

Brian

Hey Jimmy

Sorry to hear about this situation.  This type of action is a huge sore spot for me. Look, at the end of the day, she is under a term contract with you and she has breached this agreement...period. It sounds like you have specific provisions within the contract that specify the damages if the agreement is not fulfilled. Providing a "clean" or "undamaged" property short of the contract does not obligate you to waiver from the terms and conditions she had agreed to.  And as far as the knob and tube blah blah blah..cover your butt and be in compliance with the local codes and permitting processes...in other words, I would not let this tenant hold this over the contract.....just my two cents.

Brian

Welcome Filip!! You have found the right place to accomplish your goal!

Cheers

Brian

Hey Janne

Ok...pump the brakes here a minute and don't freak...I have to agree with Russell and think you may want to work with a Realtor. It's been my experience that my higher priced properties/top end of a certain market price point trend to do much better through the MLS than off line marketing attempts prove. This will also give you a chance for another market opinion for the going rate. The commission paid should be worth its value provided you work with a knowledgeable broker.

Hang in there...you'll get this place rented!

Brian

Hey Chaim

Repairs/Maintenance are accounted separate from the CapEx allocations when I underwrite....not sure if you were combining the two or if I may have misunderstood your statement.

Anyhow...the reality is the Maintenance/Repair percentage is more than likely somewhere in the middle of the Seller's reported 2% and your projected 10%, but as Brie stated, it really depends on the condition of the property, how diligent maintenance repairs have been performed and the quality of the tenants in the building.

Good luck!

Brian