All Forum Posts by: Mario Bellavia

@Dave Foster Can you send me his info too please Dave!  Thanks!

@Dave Visaya Thank you Dave!  Agreed on the treasure of knowledge on this site, love it!

@Joe Splitrock amen!

@Account Closed I would set a side a Capex budget, when these items come up it won't be as devastating. Keep at it, everyone gets a bad tenant, don't loose heart over it. I would partner with a good attorney that represents landlords. Ensure you have a bullet proof lease, read it, review it, add to it. Every new lease I have my tenant sign is updated, I'm constantly learning and each item added to my lease protects me further. Start a vendor list, I have what looks like a baseball card binder with business cards. Shop around for the best exterminator, read reviews, ask what products they use. Research bed bugs, what is the best solution. Hot heat, steam, and 91% Isopropyl Alcohol will kill them. It's something I highly recommend professionals treat. You want to have a record that it was treated and hold them accountable if it isn't. Many companies use items that only irritate bed bugs and spread them. Don't waste your time with dog sniffing companies.

Welcome @Khalfani Golding !

You found the best real estate website on the internet!  Start listening to the podcast offered, webinars, reading forums, etc.  Sounds like you have the itch, you'll have your first property in no time!  I hear Danbury has some good potential, I would start there vs. Queens.  The landlord laws are easier in CT vs NY.  

@Matt Oehlsen Hi Matt!  I agree with @Kerry Mertz unless you're on the million dollar listing show, it will be hard to earn what you earn now just starting out.  If you are truly determined though, extremely hungry, fully dedicated, the earnings of being a real estate agent are endless and uncapped.  You have to ask, is the juice worth the squeeze.  Don't ask others for motivation or if it's worth it, only you know how dedicated or successful you'll be.  I stopped talking to my dad about my ideas for this reason.  He always shoots back, don't quit your day job, you have it great.  We do landscaping on my off days.  We have a healthy 23 accounts we started from scratch, I'd love to grow it, go official, market, etc. but he's so stubborn and won't let me do it.  

A better bet would be to live a frugal/conservative life, invest all that excess capital into additional real estate investments.  Once they mature, pay off, you will be financially free.  I don't know about you but I like my weekends, I don't want to show 30 houses to indecisive married couples for a 3% commission, but that's just me.  

I'd love to talk more with you about New Haven.  I have a great rental in downtown Stamford, but for the price I paid I could probably get a 2-3 family in New Haven.  I love the Yale area.  I need to connect with a realtor one day and get up there.

Hi @Herbert Richards glad to see a fellow CT member!  I'm in Stamford, very interested in the Bridgeport market, clueless on it but I hear there is great money to be made.  I'm also interested in the New Haven market, around Yale.   

This opportunity is out of my budget but I would love to connect with you on 2-3 family rentals.  I'm in the process of getting a home equity line, once it's approved I would have access to fast cash.

@Account Closed I would address everything in an email, print the e-mail and add it to their file.  E-mail them photos of everything, final account statement with charges, and asking them for their forwarding address so you are covered and there is a record of you attempting to send it. If you have outlook maybe try attaching a send receipt or read receipt, maybe they'll actually click it.

@Samantha Klein this! Yes when a renter doesn't provide their forwarding address my management company sends the deposit check back to their last known address, our apartment complex.  When the resident calls for a status update, I kindly let them know that they didn't provide a forwarding address but their check is in our office safe, I can send it to whatever new address they want.  @Account Closed Do they have e-mail accounts that you can reach out to?

@Tabitha J. a huge topic and one with many answers, however I think @Kyle McCorkel gave a great answer.  I'm reading the book set for life, I highly recommend it.  The book talks about your spending habits and becoming very conservative with spending aka frugal.  It breaks down the % of what your check should be going to.  I own 2 properties, one has a 12% return but not paid off, and the other I live in.  I pay the bare minimum on my rental and take the cash flow and apply it to my mortgage in an effort to pay it off as quickly as possible, it's a small two bedroom condo.  My mother in law lives with me and helps with the mortgage each month to the tune of $600.  When I get my rental property paid off, I'll make about $1000 a month.  If I don't carry a mortgage on my home and my rental is paid off, I live a very frugal life, I can essentially quit my job, suck the equity out of both properties reinvest them in rentals and continue my journey, providing my own funding. I could also sell my 2 bedroom condo and live like a hippy in a VW van traveling the rest of my life.  It's all dependent on the life style you want to live an maintain.