All Forum Posts by: Dan Travieso

Network! Posting on this forum was a good first step. Attend REIs and other real estate invents. There will be plenty of brokers for you to establish relationships with.

in addition to home insurance most companies also carry an Umbrella Policy at the LLC level. This will add an additional layer of protection if tenant (or his guest) were to file a lawsuit against you due to injury.

congratulations! you plan on using it as a rental or fix & flip?

the process you use to qualify a lead should remain the same no matter how you obtained the lead (direct mail, cold call, referral, etc.). Step 1 should be to obtain as much information on the property as possible: ie. age of roof, HVAC, hot water heater, overall condition of property, tenant occupied, etc. Step 2 should be to do your research: ARV, estimated cost of repairs, rent value, tax/ insurance cost, etc. Step 3 should be to run your analysis based on information/ data obtained from Step 1 & 2, to include your profit, determine what you are willing to pay for the property. Step 4 should be call back the Lead and make offer.

1-800-GOT-JUNK will take the junk out. Then you can handle the repairs (painting, flooring, etc.) and bring in your cleaner at the end.

I include verbiage stating that the tenant is required to change the HVAC air filter monthly. Cost associated with HVAC repairs caused due to unchanged airfilter will be responsibility of tenant. Also, if it is a SFH and the tenant is responsible for landscaping (cut grass, trim bushes, etc.) you will want to include language stating it. Last thing you want is to receive a citation from the city for an unkept lawn and it not state in the lease that it was the tenants responsibility.

As long as you have good records indicating that the tenant frequently violated the terms of the lease (ie. did not pay rent on time) then you should be fine. Just ensure you upheld your end of the lease, ie. issued proper notifications to the tenant, etc.

Yea, Florida can be a pain when it comes to insurance. Though it is a bit more I had to eventually start working with an insurance broker so they could help identify carriers everytime I ran into an issue with an existing carrier. 

My strategy is to try and make the property look occupied. First thing I take care of on a flip is the landscaping. Keep the grass short and bushes trimmed. I try to not put a dumpster at the property until the last possible moment. For local flips I have even gone as far as parking my spare vehicle at the house.

Recommend you speak with a Real Estate agent or attorney to ensure you get one that meets your needs and covers all "loop holes".