All Forum Posts by: Mario Bellavia

In CT we have 30 days to refund the deposit.  My building has digital locks so we just reprogram them, very easy.  My personal rental has a hard key and I always have a locksmith change the lock.  It can be very uncomfortable to do a final move out inspection with a tenant present, they can become aggressive, irritated, etc. and like others have stated, you don't always catch items doing a rushed inspection.  I learned the hard way after calling a tenant out on an item, it's just a back and forth argument.  

@Adam Meadows Great post!  I agree that business can be built both ways, behind the computer, in person, or both.  My father has never touched a computer, still has a flip phone and has managed to build a great landscaping hustle.  Sure, it could have been done with computers and marketing, but he was a success without it.  

I think the biggest hurdle is the first buy.  I did it without the BP website years and years ago, but I'm thankful to have found it now.  It's given me the confidence to dive further in, crunch numbers appropriately with fine tuned calculators, etc.  After the first buy you learn so much, and it gives you the motivation to continue if you truly love the excitement real estate gives you.  

Growing your network in any business is the key to success, it's not always what you know, but who you know!  My last two jobs were from colleagues in the industry.   

@Tammy Tivis The development of the South End of Stamford really needed it.  It's very enjoyable to walk around and it's on the water, alot of families, dogs, and fitness junkies. However, I just heard they're brining a Home Depot to Stamford, our first big box store, not happy about that but it will be on the outskirts of town heading to Greenwich on the Post Road.  My dad was also recently at Honda getting an oil change, he was told they are going to build a Honda Dealership in town!

I can't wait to try the vegan restaurants.  I recently had seitan piccata at a cool vibe restaurant in Vermont, it was incredible! I also never though I would enjoy Tofu but throw it in a wok with Asian seasonings and I can't get enough of it!

@Remone R. my wife trys to sneak her ADD medication into my breakfast when she wants me to help clean the house lol. 

Keep us updated on the outcome of this transaction, I would love to hear what happens.  

@Account Closed your holding up your end by paying rent, she needs to hold up her end.  Florida heat is no joke.  

@Remone R. the audio book is amazing, I have add and can't focus on reading so I listen to the audio in the car or before bed.  Full time private property management isn't something I think will make me rich, I think there are a lot of headaches and it isn't worth it, but in your case I think if it will help acquire the portfolio it's worth it.  My goal is to build my own portfolio and retire.  After googling and searching I came up with $125 as a decent price to manage his rentals, he actually has a house with 2 rentals, his practice, and 2 other doctors.  I also do landscaping too and cut his lawn for $50, a true hustler.  I plan to work as hard as I can in my younger days to ensure when I have kids I can give them the attention they deserve.  My parents both provided me with an amazing life, but they traded their time for dollars at the Post Office until they could retire.  @Mateusz Prawdzik sounds like your on the right track and success will be yours in time.  

@Tammy Tivis so funny you mentioned vegan places, my wife and I are pescatarian but slowly transitioning to vegan.  I don't eat eggs or dairy straight.  I'll check those places out, thank you!  

The rental market is great in Stamford, it's very strong, I feel that it's being over developed with the current Harbor Point area that I'm in, (my profile photo is the development).  Stamford always ranks top 10 most expensive cities in the US, it's a curse and a blessing, especially for real estate investing.  Very pricey but there are great investments if you do your homework.  I'm very interested in New Haven, a town with extremely cheap properties, right next to Yale.  Bridgeport is also an area of interest however the crime is terrible, a shooting every week it seems.  

I've learned so much in the last 3 years as a property manager, a ton as a landlord the last few years, and now so much more with BP website.  Inbox me if you ever have a question.

@David Faulkner I love your suggestions, especially turnkey rentals to other investors.  So many people I know want to get started in investing but don't know where to start.  If you can use the BP calculators and show a good return on paper, do all the work, you make a profit, and you also help someone acquire an income property.  

@Remone R. I'm a property manager full time for a large company.  I manage a 402 unit property and I'm listening to the audio book set for life, an amazing book of wisdom.  I'm using my knowledge I'm gaining at work as a side hustle now.  I'm targeting wealthy people I know and asking them if they are interested in investing in real estate, I can manage their investment.  I have one property so far, I charge $125 a month which covers phone calls, maintenance calls, etc.  I can't fix everything but I'm the point of contact the tenant calls and I coordinate the plumber, electrician, etc.  It's easy money if they are good tenants.  I don't have a real estate license but I charge the owner $500 if I have to show the property, find a tenant, and generate a lease, etc.  Good luck to you!  I find the webinars, podcasts, and books by the BP team are incredible resources for growing your education in this industry and I truly feel this website will help me to achieve financial freedom.  

Great topic @Rachel N.  I've been listening to Set for Life and I'm also asking myself if I should do the same.  I'm in a really cheap 2 bedroom condo that I'm considering selling to purchase a  house hack (2 family, duplex, or single family with in law suite to rent out).  It would mean buying something more expensive but the equity in the long run and tenant paying my mortgage may be worth it.  I'm still young and don't have kids, I can't think of any reason to buy a large home with no potential investment possibility, it would financially handicap my future and lifestyle of eating out and travel.  Until I'm financially free and have a good nest egg to reinvest or have kids, it's not feasible to me to just buy any random house that looks shiny and new.  If the house is a financial struggle, I would sell now while the market is good, get your money, and reinvest in a house hack duplex, 2 family, 3 family etc.  I can't understand why people would think a house isn't an investment tool, it should be looked at as an investment until you are financially free or have enough that the extra income isn't needed.  I'm a middle class American and need a tenant to pay my mortgage.  That's the only light at the end of the tunnel in this rate race for me. Heck, I know a millionaires Italian guy that has a gorgeous house, over a million dollars worth, he rents out the basement for $1000, and he's a mechanic, smart guy, that covers his property taxes.