All Forum Posts by: Hugo Jimenez

Hi,

I’ve been investing for a little over 15 years, mostly smaller Multifamily.

Recently started focusing on small-bay industrial and have purchased 143 bays. I have one property in Broward County and one in Pinellas County that I purchased in 2025. With allowable bonus depreciation being back to 100%, want to do a cost seg on both.

Anyone have a company they would recommend to do the cost seg study?

Thank you in advance for your help,

Hugo Jimenez

The best event I go to every month.  Nothing being sold, just investors and professionals working in the field.

Thank you Matt for starting this and keeping it going…

Hugo Jimenez

I have a great insurance guy that I've personally used and recommended multiple times on investment properties.  That is specifically his focus so he is really locked in to what makes sense on these type of properties.  Message me and I'll share his name and contact info.

@Michael Cortez

I used Ron from A-Z for a duplex in East Ft. Lauderdale recently. Him and Holly were great...it's a good idea to put it in an LLC. I'm not a lawyer and not qualified to offer legal advice but I would recommend doing your own research. If you have assets worth protecting already under ownership in your name, consider starting an LLC.

I want to thank everyone for all of the great information and to provide a quick update. The sister of the tenant that passed away has been the person handling the transition and after a number of discussions where I offered my sincere condolences and discussed the situation, she has been very understanding of the situation from my standpoint as well.  They are taking 30 days to clear out the property and find a home for her kitty from what she told me although they have not started yet.  In the meantime, she has assisted me getting a spare key because the previous owner was out of state and she is letting me come in there with my architect and GC to get plans drawn so that I can submit permit applications prior to moving out all of her possessions.  

I can't thank everyone enough for their input on this.  Bigger Pockets has the best group of people contributing to our community and I look forward to further discussions in the future.

@Justin Hilgart

Bob Peppe

Flagler Insurance

He got me a great rate on a duplex in East Fort Lauderdale. Please let him know I referred him. Don’t get any financial gain, just want him to know I am happy with him and want to share.

I can’t post number or email in the forum posts but if you want his contact info feel free to reach out to me. If you search online you can find his contact as well.

@Anna Laud

Thank you very much, that's great advice about the Release to Right of Possession and I greatly appreciate you even going a step further and providing me a link.

Do you happen to know if there is any scenario where the estate or next of kin can sign off on the Release prior to the 60 day window?  

I have already had a number of conversations with the deceased tenant's sister to help her execute the 6 month lease.  She is a great lady and so far has been someone that has the ability to understand the situation from multiple perspectives and work towards finding mutually beneficial, fair solutions.  My thought is that I could possibly discuss the situation that legally, the estate has an obligation to pay the lease according to the terms but that this doesn't sit right with me and to ask her if she could help me by signing the Release whenever they can complete going through her personal property (with no constraint imposed by me) rather than dragging the process out the full 60 days.

@Wayne Brooks

Thank you, I definitely plan on doing that.  I was more referring to the legal letter of the law.  From what I found there are a couple potential pitfalls to avoid and they are very specific.

I have an unusual situation and am hoping for some advice from someone who has some experience or knowledge of how to handle the situation.  I am scheduled to close on a duplex on Friday, May 14th.  Both tenants decided to stay with increased rent.  One executed a lease for a full year and other for 6 months.  The 6 month lease was meant to give her plenty of time to find a new place to purchase and move into.  She was older and I wanted to make it work for her so that she would not be rushed to find a new place and be displaced after living at this property for over 20 years.

Last night, I got a call from my realtor that she unfortunately passed away after having a stroke and being transported to the hospital.  I am sad that I did not have the opportunity to get to know her better and am heartbroken for the family that is left to now handle the process that comes along with a loss like this.

My question relates to how I can best handle the situation.  I will of course handle it with compassion and understanding as it relates to the family.  As far as how to handle this from a legal standpoint, it looks like it differs depending on their leases.  If they were month to month, essentially you give the family/next of kin/estate 30 days to clear her personal belongings and treat it similar to an eviction.  If they have a long term lease, the lease does not terminate and you allow them 60 days to clear out their possessions while the estate owes you for the rent.  I want to note that ethically, I do not feel comfortable collecting rent from her next of kin so the component of obligation of the estate is largely irrelevant.

You are also apparently supposed to secure all of her belongings and note anything that is removed by family members that you allow to visit the property.  However, the current landlord has already allowed family members to enter the unit so this may be somewhat irrelevant at this point.

For reference, this is in Fort Lauderdale, Florida.  She was on a month to month lease with the previous landlord who passed away.  It was transferred to an estate for his next of kin prior to the landlord passing.  She had already executed a 6 month lease with me contingent on the fact that I take ownership of the property.  She had also given me a check for the first months rent.

I'm not asking for advise for how to get revenues on the property for the estate because I do not feel right doing so.  I have plenty of reserves to weather the storm and had planned on fully renovating the unit upon the termination of each lease.  I am asking for advice on how to handle the process of clearing out her belongings in a way that does not expose me to any legal risk and also allows me to begin renovating and improving the unit as soon as possible to decrease the vacancy loss as much as possible while still being ethical and compassionate to her family.

On a side note, the other tenant is a building inspector that deals with code violations for the city...sooooooo, I'm going to be pulling permits for everything related to the renovation and hope to create a positive relationship with him while he lives in the unit.

Thank you in advance for your advice.  I have learned an incredible amount of extremely impactful information from the podcast, books and forums associated with the Bigger Pockets platform.  It has been life changing in the way I have restructured my goals and long term planning financially.