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All Forum Posts by: Michael Diossa

Michael Diossa has started 3 posts and replied 186 times.

Post: Unpacking the Rent Crisis: It's Not Just Greedy Landlords..

Michael Diossa
Posted
  • Investor
  • Rhode island
  • Posts 191
  • Votes 162
Quote from @Julie Garner:

Yep, the taxes.  I realize it's not my right to tell people how to vote, but I'd like to put a clause in that reads, "Every time a levy, school tax increase, or special tax assessment passes, rent will increase by 5x the amount of that cost."  Because you KNOW it's not the people paying the property taxes that are voting for this crap.


 VERY TRUEE

Post: Utilities Question Help

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

depends the locations. might be easier to attract students with utilities included. with that said just water and sewer is recommended for apartments. For single families, nothing.

Post: Managing our first Section 8

Michael Diossa
Posted
  • Investor
  • Rhode island
  • Posts 191
  • Votes 162
Quote from @Austin McClain:

I recommend hiring a property manager if you're out of state. Managing a section 8 rental without being on the ground will be difficult. If you'd like some referrals I can send them over to review 


 I second this. How many units is this property?

Post: Getting a Little Nervous...

Michael Diossa
Posted
  • Investor
  • Rhode island
  • Posts 191
  • Votes 162
Quote from @Jill F.:

I mean... It's fourth of july in the middle of the week. Everyone I know that still has a job has taken at least part of the week off. I wouldn't panic yet.


 Agreed with this. Yes they should still have some form of communication but not everyone's hustling 24/7 and could just be enjoying time with their family.

to other point Local is definitely key for the next time. But also send an email with Key deadlines and expectations. Be polite

Post: Do you disclose you are the owner to tenants?

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

If an eviction were to ever happen thats when it can be tricky if the tenant knows you’re the owner.

Post: Top cities to buy multi family properties in landlord friendly states

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

I would say there is opportunities everywhere.

States that are very landlord friendly like FL are having a flood of investors come in. Keep in mind the competition.

Have to look more at the ROI and being critical on who you approve as a tenant.

Personally I think CT and RI have a lot of potential. I've heard there is potential in certain pockets of NH however I can't confirm solely based on experience .

Post: Best accounting software for real estate investors?

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

Appfolio is awesome.

Post: Guest requesting full refund due to rain

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

I'd refund the cleaning fee.

Post: Any Real Estate Photographers On Here? Looking for help getting started...

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

I did it as a pass time hobby and occasionally going above and beyond for owners without charging them extra. Editing is very time consuming at times. 

If you can combine the both well that could make you much more money. 

Most real estate agencies have a in house photographer but if you ever joined one that didn't ... then you could essentially create secure revenue.

Assuming you didn’t want to be an agent.. just an investor then it will save you money by not having to hire anyone to take photos especially for flips.

Post: What Type of Investment Property Should I Buy

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

Multi and 3+ minimum or a property in a area proven to have high summer interest.

I live in a Newport house that was rented for 20k a month in the summer :0