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All Forum Posts by: Michael Diossa

Michael Diossa has started 3 posts and replied 186 times.

Post: Is a paid roof inspection more credible than "free estimate"?

Michael Diossa
Posted
  • Investor
  • Rhode island
  • Posts 191
  • Votes 162

My guess. the guy who said less tiles is probably the cheaper option. Possible his drone showed the most evident damage and not so much like being on the roof. (is there any reviews or history on his business online)

The inspector that said 70+ is probably one of those everything needs to be replaced don't risk type, however will probably be the more expensive guy. Look at reviews and years in the business.

Regarding paid inspections ....Not quite sure. I do think you can't go wrong with home guard. 

Post: Looking to Scale Small Portfolio

Michael Diossa
Posted
  • Investor
  • Rhode island
  • Posts 191
  • Votes 162

Hey Johanna,

Congrats on the growing family and on making it 5 years with your duplex! When it comes to scaling your portfolio, it really depends on your goals. If you’re looking for more rental income and can manage multiple units, another multi-family property could be a good choice. On the other hand, if you want something simpler or closer to home, a single-family home might work better.

Since you need more space for your growing family, consider looking for properties that offer both extra room and good investment potential. If you go for a multi-family, you might want to check how much extra rent you could bring in to help cover the mortgage.

Good luck with your search!

Post: How idiotic would it be to accept rent for a Foreclosure property?

Michael Diossa
Posted
  • Investor
  • Rhode island
  • Posts 191
  • Votes 162

I'm assuming you would increase the rent?even if its the owners they might still be willing to pay.  A mortgage for a multi family is not going to be the same as just rent. They might very well still afford it. now if this is a single family than absolutely no.

Post: Finding tenants for MTR

Michael Diossa
Posted
  • Investor
  • Rhode island
  • Posts 191
  • Votes 162
Quote from @Miguel Del Mazo:

Our experience has been that MTR residents do not book way in advance of their travel and they want to see great pictures, so being pro-active won't be as big a deal as you might expect. Finish the project, take great pictures and go live quickly. 

One bit of advice where you can be ahead of the curve is to write down your screening criteria for possible tenants and commit to following it. Apply it fairly, but stick to it.

I second this 

Post: How do you effectively choose a real estate agent: The Real, Real Estate Agents?

Michael Diossa
Posted
  • Investor
  • Rhode island
  • Posts 191
  • Votes 162

For me it's how pushy they are to try and get you to buy/sell. This gives me the impression they care more about the sale then what you actually want and need.

Granted yes they make their money on the sale and not jut being nice.

Post: Given potential new law that could lead to a nationwide wholesaling

Michael Diossa
Posted
  • Investor
  • Rhode island
  • Posts 191
  • Votes 162
Quote from @Chris Seveney:
Quote from @Michael Diossa:

If wholesaling were to be banned nationwide, what is your best alternative strategy or next steps to consider?


 Get your realtor license.... 


 Can you elaborate? Most wholesalers I know are active realtors already.

Post: Given potential new law that could lead to a nationwide wholesaling

Michael Diossa
Posted
  • Investor
  • Rhode island
  • Posts 191
  • Votes 162

If wholesaling were to be banned nationwide, what is your best alternative strategy or next steps to consider?

Post: Real Estate Networking Event (R.E.N.E.)

Michael Diossa
Posted
  • Investor
  • Rhode island
  • Posts 191
  • Votes 162

Will try to make this!

Post: Investing in New Haven MultiFamily

Michael Diossa
Posted
  • Investor
  • Rhode island
  • Posts 191
  • Votes 162
Quote from @Yitzchak Khaimov:

Looking to learn and acquire an investment in New Haven. Any feedback/thoughts/advise would be helpful from investors in the area in regards to outlook, taxes, areas, etc. 


 Looking for a multi to generate cashflow?

Post: I continue to meet Real Estate Agents that are doofuses

Michael Diossa
Posted
  • Investor
  • Rhode island
  • Posts 191
  • Votes 162
Quote from @Devin Peterson:
Quote from @James McGovern:

Approached multiple real estate agents in my market with the attempt of understanding pocket deals and to make offers on distressed on-market properties they have listed on the MLS. I have received nothing but responses from Doofuses. Why is that?

Especially in CT - I need to introduce you to Andrzej. Wicked talented off market deal finding skills.

 Definitely looking for good off market deals in the Norwhich, New Heaven area