All Forum Posts by: Peter Giardini

I have often said that these programs are a great place to learn "how not to do thing"!

The drama and the theatrics are too much for me.

With that being said, there will always to surprises... the more rehabs you do the fewer surprises you will find... And even then don't forget to take the advice posted and add a contingency factor to all your estmates.

Best of luck!

Follow the lease... if it is silent on the matter and you have provided a written 30 day notice to vacate (and that is the required minimum in your location) you can leave without any other issues (regarding the lease).

Also, unless the lease states that you are responsible for paying for anything related to the new tenant.... you are not responsible.

Best of luck!

Michael... While I am not a lawyer, that is how I would interpret the words.

With that being said, you lease should specificially state what happens after the lease expires.

In most states the lease will expire unless it addresses what occurs post the last date on the lease.

If you want it to go month-to-month then the lease should state that. If you want it renew for a full year you will have to include the parameters regarding how it renews automatically.

If you are unsure about the laws in your state/city contact a lawyer, property manager or there may landlord/tenant group who can provide insight.

Best of luck!

Defintely not a deal here... at this price... unless there is some way to upside manage the rents or lower the expenses by obtaining new assessments (lowering taxes) or inexpensively getting those heating and water costs passed onto the tenants.

Best of luck!

The most important trend in my opinion will the unemployment rate. Once that rate reliably dips below 8% nationally and of course stabalizes in local markets then we will see housing demand increase and hopefully prices stablize.

Will they increase significantly... not until the "shadow" inventory is absorbed.

Rob... welcome to BP. You are in the right place for information and networking.

Best of luck!

Pete

Robert... awesome job! I predict you get 2 phone calls. Start to be thinking how you want these calls to go... what questions to ask, the next steps, etc.

Also, don't stop with sending just one letter. Create a tickler file so that you send another letter to the same addresses in the next 6 - 8 weeks.

Consistency and follow-up are the name of the game.

Best of luck... and keep us posted.

Pete

In addition to all of the comments, I would add that anything environmental can be a huge issue. Is there a recent phase 1 study... this might shed some light on the issue.

Best of luck!

Pete

Joe, welcome to BP. This is a great place to learn and share.

Best of luck!

Pete