All Forum Posts by: Account Closed

From my experience: My partner and I paid a landscaper up front for the trees/shrubs/mulch he needed for us to plant and we never got them. We should have realized that if his "business" could not afford to front the cost of the trees for 3 days, we probably should not have handed him a check. The money back we would have gotten back was just not worth the cost of the chase. 

Make sure your initial payment is not finishing up the last job that they did not complete.

Don't ever pay more than 50% up front.  - If its "for materials," simply respond with "I will purchase them."

Unless you have a handyman who you trust and know, true professionals are the way to go.

Communication is key. I would knock on the door and just be extremely straightforward. I would say something along the line of “I wanted to speak with you and let you know that I am going to rent the property and that I have no intention of selling it anytime soon. For us to have any issues is unproductive and unnecessary. I would appreciate it if you showed my property and I respect. My future tenant and I will do the same for you.”

I’ve been listening and reading about how systemizing your business does wonders. I don’t know what that actually means. Does anyone have any good books, articles, websites, podcasts to recommend to me that relate to systemizing a real estate business?

You will pay a significantly higher interest rate refinancing through an LLC. Seasoning, from my knowledge, is 6 months.

https://ronwebster.com/content/1031-exchanges-dumm...

https://www.youtube.com/watch?v=nvi6ACBfHM

Hey Zach,

Interested in hearing more about this.

Email is [email protected]

Interested. [email protected]

Hey guys,

Looking to get a 65% - 75% cash-out refinance on a free and clear property in Riviera Beach, Florida.

The property is owned by my LLC.

If anyone knows of any banks or lenders that will do this I would love some recommendations.

Thanks

Hi all,

I have two triplexes in Broward County (Pompano Beach), Florida.

I would love to get them separately metered and have the tenants billed for their own water usage.

I am not sure what this project should cost and was wondering if anyone has any experience, or knows someone who could help me with this.

Thanks

I own/manage 6 units (two triplexes) in Pompano Beach.  

Negatives:

As a new landlord in Pompano, we got hit with a landscaping inspection from hell. Someone cut up ONE tree because of people hanging out under it and the city forced us into replacing the one with FIVE. Not only did we need five 12 foot trees, we needed to install a new sprinkler system, new sod, and 30 hedge style plants. On top that absolute nightmare, Hurricane Irma came to offer her help. 

We got a $75 fine and a warning that if we didn't have 'Meter Room / NO STORAGE" on our meter room doors by the end of next week we would be fined $25 a day until satisfied.

We've had two fire inspections for no reason. Each time they've said it was an 'annual' occurrence. It is quite a pain when you have to run and make sure all tenants in six apartments haven't dismounted their smoke alarms. We also had to buy two fire extinguishers that were inspected by a Broward fire inspector.

And last but not least, as much as it sounds like I could be making it up I just as of an hour ago scheduled my "Business Tax Receipt Rental Inspection." Another $120~ inspection to brighten the new year!

I am located in a very drug-ridden area. We've begged the police department to set up more patrol drive by's or at least leave a car there. As expected, we got nothing.

Positives:

The county was understandable with the timing of the hurricane and gave us three separate month-long extensions because of the trees all being destroyed at the farms.

Demand, where I am located, is absolutely insane. On a quiet day of fixing up an empty apartment, I would get two people knocking on the door to inquire.

Rent is quite high. I am getting $1000+ for my 2/1's and $1200+ for my 3/1's. 

I am only speaking of Collier City, Pompano Beach. I have ZERO experience in any other Broward County properties besides this one. Sorry for the long post, I have just had an overall negative experience with the county and typing it out to share with other investors is quite relieving.

Feel free to ask me anything about my experiences.