All Forum Posts by: John Liberati

I will usually Decide by the numbers what the absolute highest amount I can pay, and start negotiating at 10% less than that. If the price is over that amount I forgo that property. If there is a creative way to buy it see if your numbers still work. I personally look for at least $100 in profit a month per unit.  It's not always a hard and fast rule that we have, but it's a good starting point for us.

WE collect rents with Apartments.com com. It's free for the landlord and only costs the tenant if they pay with a debit card or credit card. If they use a bank account it's free

Supada There is ways to increase the revenue and decrease expenses, but it may be a little difficult to be new. IF it was me, it's still somewhat of a seller's market. I would just spruce up and look to sell it. Again not knowing the area that you are in, but most of the country is in a seller's market now.  

If you keep taken money out of your pocket to have someone live there would defeat the purpose for you to get into the market. 

Brad it's best just to continue with the lockout of the tenant and find a better tenant for your property. I've been involved in owning apartment buildings for the last 30 years. I've been involved with a lot of evictions. I used to try to help them out and it was rare that I wouldn't have to evict them in the near future, but this time at a cost much higher.  I've never seen a tenant that was given a courtesy give it back to the landlord. It's always better to just get them out instead of having to do it again in a month.

Good luck Brad!

Yea Jersey is a really tenant-friendly law. So whatever the law is there, is what I would do. .

Joe, New Jersey is a whole other animal. Extremely tenant-friendly.

 I originally came from Bucks county. I used to love being close to Philly when I was younger! Good Luck!

Any questions, do'nt hesitate to contact me back.

Joe depending on the laws of your state, You and I are in pa. You are from Philadelphia they have tenant-friendly laws, but you would go by the state law. I have them sign an agreement to hold units off the market for their deposit. If they sign a lease with us, per our state law we can consider it a breach of contract and they are responsible for the length of the lease or up to the time we find another tenant. If we locate another tenant, they would be responsible for the time it took to locate a new tenant, plus any expenses. 

I've owned Multi-family complexes for over 30 years, since 1996 and if this happens we don't give back the deposit and rent unless we can locate some else and deduct all expenses and time. 

It's a business and you need to treat it as one. If they sign a contract with you and you turned away others from renting this unit. You are losing time and money, your time is also worth something. 

Good luck

John Liberati, President

Liberati Capital Group

How we started out was somewhat like you. We started to educate ourselves first then we hooked up with a realtor that understood investment real estate and she helped us through the first 2 deals. and we bought small multi-family properties, 2-4 units to understand the management of rental properties. Even if you plan on eventually using a 3rd party management company or not, it still important to understand the management of your properties. WE grew from there. But don't spend all your time educating your self and not doing it. We'll your studying be out there looking for growing cities that you want to invest in and looking for deals in that city.

I would be interested, Been involved in real estate over 30 years, I owned at 1 point 1400 units, Had a number of drama and some real home runs. W had invested in some good areas and not so great areas and was able to turn even the bad areas around to be profitable.

Look forward to hear from you

Telling a tenant that you do not wish to renew a lease, is not an eviction. But if the tenant doesn't want to leave, you would need to file for eviction. If your state has a moratorium to temporarily stop evictions, you will not be able to evict them from the property if they don't leave. But if they decide to stay you will need to file for eviction soon as the courts open up for eviction.

I hope that help.

HI, I haven't bought anything yet during the COVID. But we have been selling our units, People are overpaying for units where we are. We are looking still and expecting to see prices going down in the next few months. So if I come across something I will buy it, but as of now haven't found anything. 

Don't stop looking, it just means you may need to look at more properties. But you are probably looking at the next few months seeing the prices going down. We already got a property sent to us with a 10cap in texas. We had looked at this property months prior and they had to adjust the numbers due to COVID. With the Moratorium to temporary stop evictions, cause a hardship for some landlord.

SO keep your eyes open, and continue to look for properties that make sense. If you find a building that makes sense buy it.