All Forum Posts by: Filipe Pereira

100% don't pay for the job in full until the job passes the permit inspection @Pavan Krishna...once the contractor gets his money, good luck on getting him to come back to the property to address any issues. 

You can verify if a permit was pulled before the work was started in most towns / cities by calling the building department of the town you live in. 

I think you're trying to remove all aspects of risk to make this a comfortable deal for yourself @Shandrea T., but you have to accept that there will always be some level of risk. Pick the things you want addressed without compromise, and be ready to "let go" of the others. This is a seller's market and if you push too many of the wrong buttons, you may lose the deal. 

If that's a risk you're willing to take, then prod away! :) 

I think we were all in for around $800-1500. It was when I first started my company here in CT, so I can't quite remember. It was a rookie plumber though, he gave us a GREAT deal. 

I applaud your thought process here @Rob Bianco, but if congress gave us any insight as to how long landlords will be affected - it was by telling us that the landlord funds they made available are good until 9/30/22. If I were you, I would plan for the worst on that front. 

I agree, staggering your notices to raise rent is the way to go. Try 4 at a time, see the feedback you get and go from there. If 1/4 turns into an eviction, then I'd say you're doing OK. How much are you thinking about raising the rent? You may also consider doing multiple rounds of rent increases. For example, $100 every 6 months. 

In the meantime, I would try to find things to do around the property that are visual improvements. Tenants are more willing to accept a rent increase when they see improvements being done - especially on things they want. Ask around what tenants want to see done, then pick and choose the ones that make sense for you. You may win some over that way. 

@Travis Oakes I plan to give 60+ days notice to our tenant, or the option to have the rent increase. Her call. We will be as nice and accommodating as possible, but firm still. In our case, she's been a bit of a nuisance, so we're just about done with her. My favorite one was when she asked for exterior lights to be added, and after we did, she let us know she "wasn't impressed" with them... come on! You've been living here for 6 years with no lights, and we provide lights within a month of taking over management and you are "unimpressed"?! 

Give me a break...

If it was under the house, I wouldn't be overly concerned @Kevin Gallagher. If it was in the middle of the yard and would result in you having to dig a trench 10 feet down in the middle of your front yard if it collapsed, then I would be more concerned. We've had to bust out a concrete floor once or twice to replace a old cast iron waste line, and while it isn't fun to do, it's certainly doable.

You can get up to a $10,000 gift without explanation from a person that you can apply towards your down payment in most cases @Account Closed. But, it's difficult to find someone who will want to give you a gift like that :) The best way is to earn and save or get into something creative so that you can get in with low or no money down - think seller financing. 

Welcome to BP!

Have I ever found some unexpected money? No - because I watch my investments, LOL. Sounds like another EXP post.... 

@Charlie MacPherson was anti-EXP, then he joined, and last I stumbled across one of his posts he wasn't with EXP anymore. Care to share why, Charlie? 

The reality is that, just like most stocks, EXP has done really (really) well in the market as of late. I'm curious to see how it plays out in the long run, but as is typical, those who got in early sure have a lot to benefit from if it keeps going north. 

Has he given you crap in the past? Is he on a lease right now @Travis Oakes? Let him know he's free to switch with you at X price per month instead of 650. See what he says. We're about to do it on a tenant in East Hartford paying 650 for a 3 bed 1 bath...Inherited tenants, managed by mom & pop...never raised rent in 6 years! 

Nope, not at all @Travis Oakes....you still live at the property. Start packing up yo' stuff. ;)