All Forum Posts by: Filipe Pereira

"Multi" is almost always the answer on these kinds of questions @Loubert Jean Philippe. Economies of scale almost always makes it worth it. 

Aside from that, it sounds like you may need a new agent. Your agent shouldn't be pushing you to do anything, especially if you already stated they don't fit your criteria. 

If nothing is working for you, it may be time to step back and get some more savings together so that you can make more competitive offers. 

Beat me to it! Ozone machine for sure. 

Repaint, remove carpets, have HVAC ductwork cleaned out, open the windows for a week if it's fair weather. If that doesn't work, burn the house down and start from scratch. ;) 

1. How many years have you been doing this for? 
2. How many inspections do you do on average per week? (Should be 5-10 if they are well experienced). 

3. What is your typical client like? (If they say "oh it's usually first time buyers buying new construction single families" and you are looking at 50 year old multis....they may not be a good fit)

4. Do you have a list of vendors who could come in after you to quote/correct the items you point out as faulty/needs work in your inspection? 

@Joshua McMillion congrats on sticking to it! 

I'm a big fan of setting goals at this stage in my life. I have 1 year goals and then I break it down to each quarter or month depending on the goal in order to stay honest with myself. The more I "check in", the more likely I am to hit my goals. 

Keeping my goals front and center is also a great recipe to making them happen, so I keep a printed copy just beyond my computer screen. 

Lastly, I've learned that what gets scheduled, gets done, so I make it a point to set time aside for the things I don't necessarily enjoy doing but that I know I need to do (reading, for example).

Don't be so confident on the idea that transferring it over to the LLC will trigger a due on sale clause @Kevin Romines. I don't know what state you're in, (and heck, I don't even know if it's state specific) but there have been some recent changes as to whether or not transferring (quit claims) to a LLC would trigger the infamous due on sale clause. It's my understanding that this is no longer applicable in CT. Do your own due diligence, of course. 

Less than 3 hours remaining! Tell your friends, your landlord, your tenants, your boss, your workers, your kids, and get something emailed out for the bills that concern you. Instructions are below. Spread the word! When you send it in, put "support" or "oppose" in the title and the bill number and write whatever you feel like. It doesn't have to be long.The email address for all of them is: hsgtestimony at cga.ct.gov

SB#194 AN ACT ESTABLISHING A RIGHT TO HOUSING OPPOSE

Housing is something everyone should have, not a right. This bill puts out new mandates that will protect irresponsible tenants, raise rents on everyone, and does not benefit the state.

SB#355 AN ACT CONCERNING A LANDLORD'S ABILITY TO CONSIDER THE CRIMINAL RECORD OF PROSPECTIVE TENANTS.OPPOSE

Landlords need to be able to screen criminal records. I do everything I can to not put bad people into my units, and even with excellent screening, I still fail at that sometimes. Unless you want me not to be able to see a persons criminal record, and you don't mind if murders, drug dealers, or rapists live next to you, then please oppose this bill.

SB#875 AN ACT CONCERNING THE RISK OF HOMELESSNESS FOR THOSE RELEASED FROM THE CUSTODY OF THE DEPARTMENT OF CORRECTION.SUPPORT

There is no shortage of housing for the criminal reentry population, (pre-moratorium anyways) there is a shortage of jobs and subsidies to help these people get back on their feet. This is a better way to help them with housing rather than concealing dangerous criminal activities.

SB#944 AN ACT CONCERNING STORAGE OF A TENANT'S POSSESSIONS AND USE AND OCCUPANCY PAYMENTS.SUPPORT

Rental Payment into court should be law. Tenants must be responsible and without responsibility we have witnessed the decline in our neighborhoods, schools and State. Hundreds of millions of dollars finds its way into the underground economy and those dollars were intended for rent payment which pay taxes, upkeep property, and mortgages. The system is broken in Connecticut and long eviction processes create homelessness and high rents as owners need to reduce risk and refuse to rent to marginal tenants because the eviction system is indeed broke, States with quicker eviction processes have less blight, lower taxes and more affordable housing. We need to hold tenants accountable and we have failed to this point to do so.Regarding Evicted Tenants Possessions. The CT statutes say its the tenants responsibility to pay for the storage and transportation of these items. We must remove landlords from this process, it's clearly stated in the statutes and this needs to be modified or perhaps a class actin lawsuit is in order to force the responsibility for payment onto the proper party

SB#6528 AN ACT CONCERNING THE SEALING OF EVICTION RECORDS.OPPOSE

Can I have my Chevy repossessed by the bank and then walk into a Mercedes dealer and get a new car loan from another bank because my payment irresponsibility with the first bank is being concealed. NO That's insane and outrageous, so is this proposal. This would raise your rent by hundreds of dollars per month as a high percentage of units will always be in eviction.

SB#6531 AN ACT CONCERNING THE RIGHT TO COUNSEL IN EVICTION PROCEEDINGS.OPPOSE

Want to pay a lot more rent every month? This will cause much longer eviction times and much higher legal fees. Do you know who pays that? Your landlord? No, not really...... landlords pay 100% of their bills with rental income, and this law would also spike your rent to cover all of the money that would funnel into legal aide from this.

CT Connecticut

Yes, this is just a proposed bill right now, but that's where everything starts. Let's not let things get out of hand. You can EMAIL your testimony. Get it done, please. It's that easy. Let's keep CT the most landlord friendly of the tri-state area.

Lots of people watched New York become even MORE tenant leaning last year. Let's stop that from happening here in Connecticut. 

There's obvious impacts to all of us if stuff like this passes. It's on you to make sure it doesn't. 

The CT Property Owners Alliance has sent out this memo. Please review and take action as you see fit. 

Right now the average in the Connecticut market and western Massachusetts (think Westfield, Springfield, Longmeadow, etc. - not Worcester) is about 1.1% to 1.3%. In 2016 it was around 1.6-1.7 and it has been coming down steadily since then. This is for prices as listed. Some properties sell above list, and some below list price, of course. 

These #s are based on B-/C+ neighborhoods. 

Great post idea @Chace Fraser. I think it's going to be eye opening for people when they see that these "hot markets" we hear about often on BP aren't as favorable as sometimes people make them out to be.

If you have a general contractor they should be overseeing budgets, timelines, decisions, etc. You're likely paying him 10-20% spread on whatever his subcontracts are billing him, so get your money's worth @T. Harris.

If you don't trust him with these responsibilities, pay someone to do drop ins at an hourly rate, or to get updates on the progress. If you're just looking for progress updates, that can be fairly cheap. Once you expect them to help you pick colors, designs, etc. well that's more specialized and thus more expensive.

You have options, it all comes down to how much $ you want to spend at the end of the day. 

Bring it on, @Carl Mathis! Vaccinations are on the rise and I'm so tired of seeing landlords getting trampled all over the place. I saw New York is attempting to strip Cuomo of his emergency powers, and I hope Connecticut follows suit. Too many bad tenants taking advantage of good landlords and it needs to end. Enough is enough. 

We beat the curve, identified the most at risk, and have begun the vaccination roll out. It's time.