All Forum Posts by: Davide Formica

@Michael P. Pet rent is an excellent source for additional income on your rental. Plus, if you already have good tenants, which it seems you do, they should also be responsible pet owners.

Have them sign a one-page Pet lease addendum. Collect the non-refundable deposit and the additional monthly pet rent.

@Gerardo Hernandez - I agree the numbers don't work at $215k purchase price. Your offer is not binding, you can withdraw your offer in writing.

@Jake Saliba In a high inflationary environment, yes, the Fed will likely rush to raise rates to control it.  At the moment, they say there isn't inflation and that the expected inflation isn't going to be much or last long.  

But inflation is coming; I have no doubt.  The increment in the money supply has been something never seen before    https://fred.stlouisfed.org/se...

So, the dollar will devalue, and assets will hold value, like Real Estate.

 Thanks @Theresa Harris

I agree, with these 36" cabinets, having the filler above was the way to go.   Interestingly, the Home Depot kitchen person recommended no filler and leaving the gap above. 

Thanks,  @Maksim Hamko.  Let me know if I can help with pointers when your renovation time comes. 

Thanks, @Evan Polaski.

Yes, the ceilings here are low.   We went with 36" due to the cost of the 42". 

42" is the way to go, avoid the fillers and install flushed with the ceiling.

I'm overall happy with this renovation.   It took 12 days for completion, and we have a great tenant moving in. 

This time my kitchen guy installed the 36" cabinets flushed with the ceiling with no fillers, so they are higher up than standard.

How do you prefer installing your 36: cabinets?
1) Adding 3" fillers on the top?

2) Leaving a 3" gap above?

3) No fillers, cabinets higher up flushed with the ceiling 

"Should inflation get out of control, Fed officials believe they have the tools to control it." - Do they?

https://www.cnbc.com/2021/03/1...

Those of us who are constantly analyzing multifamily deals and putting offers know that there is a high demand as deals keep going above the asking price. Maybe all those investors "overpaying" for real estate deals are the wise ones in the end!

@Oscar Montealegre I couldn't image being in your shoes right now. So, what happens if comes March 2021 and your tenant hasn't paid or still is a few months behind?

I hope your tenant doesn't he right thing, and pay a for the roof over her head.

Luckily, here in Ohio we don't have moratorium. I'm working with all my residents impacted by waiving late fees and enabling a flex payment plan.

@Ujwal Velagapudi agreed 100%. Things aren't looking promising and recovery will take some time. But we should still continue to seek out new deals. It it pencils out with conservative underwriting, sufficient reserves, 0% rent increases for 2 years then let's close!