All Forum Posts by: Brandon Ingegneri

@Nicholas Bolcon I would double check the per thousand dollar valuation rate. Just one example for me personally this past year in Providence. I had a valuation increase nearly 100k, but the actual tax bill only went up a few hundred bucks. My initial reaction upon seeing the valuation was similar, but when you boil down the numbers, in most cases, it tends to be less of a dramatic jump as you initially think.

@Anthony Thompson is correct.  You need to find a buyer and market more aggressively.  Potentially lower your wholesale spread on the deal to make it more desirable, back out, buy it your self, or you could perform an option as opposed to an assignment.  This would give you the ability to list it on the open market and get more potential eyes on the deal if your contracts are worded correctly by an attorney. 

Quite honestly, some insurance audits may require you to perform some mundane and seemingly pointless tasks.  We have properties that have been completely redone that require a different type of dryer vent for example.  I would just take into account the recommendations that they make and be mindful of everything you have encountered moving forward. 

With regard to having tenants read, I don't think getting them to read anything is likely in all reality.  Most tenants don't even read their leases in their entirety despite walking through it with them step by step, paragraph by paragraph, and page by page.  

The best tenant education is having clear communication with the owner of the property, landlord, pm, etc on what their expectations are.  Good communication skills can trump almost any piece of literature. 

Like everyone stated, you should make yourself aware of what provisions you are bound to in the lease. When there is an opportunity to make adjustments illustrated in the lease, I would have everything ready to go with however you choose to proceed whether it be vacating the property or increasing rents to market value, etc. the easiest solution which I believe was also posted previously was to have the property vacated at closing. 

@Casey Hunt

1. Windows open

2. Remove all contents if you haven’t already

3. Stanley Steamer

4. Bleach

5. Repeat

If you end up ripping flooring out, killz the sun floor. It will help encapsulate.

@Habbak Burs buy

@Andy Rousch answer him with a question or two of your own.

1. How many pieces of real estate do you own?

2. How many have you owned?

Number 2 is because most likely he/she hasn’t owned much more than their primary residence. In the off chance he/she has in fact invested in real estate, you’ve got to go with the single. Prices will appreciate much faster than multis if the apartments are capped. No one will want them. Only when the market is substantially depreciated would it be beneficial to swoop in and grab all of them. At a reduced price and in bulk, a decreased rent may still work out to the margins needed to be profitable.

@Jason Papp let it ride man. You dodged a bullet.

@Jennifer White 2 things.

1. No dishwasher.

2. Do not sell it.

@Dmitry Semenov I will say this plainly and quite unprofessionally. It’s a straight dick move to charge you the late fees.