All Forum Posts by: Preston Roth

Hello BiggerPockets family. I’m looking for a well studied long tenured agent who knows multifamily in the Jacksonville Florida area. I have a property I’m looking into and would like to find an agent to work the deal for me. Thank you for your advice and referral! Preston

hi Jeff

Would love to connect, let me know how we could do.

P

hi Jacob, thank you for the response. Would love to chat with you about some out of state options. Could talk over the phone or maybe meet.

Hello, I have a couple of questions for the bigger pockets family, but first a little about me. I live in Portland Oregon and have about 50 units between Oregon and Washington. I want to continue to invest in multi-family but it’s getting ridiculous in these states. Cash flow is not good unless you put at least 30-35% down and even then it’s suspect. I want to invest long distant wise and would like some direction on where people are seeing some good cap rates across the country as well as good possible appreciation, although buy and hold is my strategy not turn and burn. Also if anyone has brokers to refer to me in the suggested states/cities that are experts in the multi-family world. Thank you all! P

Hello

Does anyone have a good asbestos disclosure? I'm buying a old building that has some asbestos, not in really any areas tenants can really get into and what is there has been encapsulated. Any thoughts on this? Is this necessary like with lead paint?

I use tenant cloud and love it!

Hello BP Team

Has anyone added vending machines to their property? How much can you expect monthly per tenant on average? Do you buy and stock yourself or have a company manage it and you just take a percent of sales? If percent of profits whats a good deal for the owner? How do you know if they are being honest with the sales and your percent?

I'm looking for in vendor in Washington State so if anyone has a referral that would be great

P-

I had a step that was put of code, the rise on the top step was like 1.5inches higher than the other step. Person tripped on that step and fell and broke her wrist. The lawyer came up with the 150k which was the standard, medical bills, pain and suffering, loss of enjoyment on life, unable to do the things she loves anymore, etc ,etc. this is all standard.

In your case because it has been over a year I imagine you might be safe. Seriously though, don't think about it anymore, don't let it effect your sleep etc. fix the step and just move forward. If something comes of it, give it to your insurance. There isn't anything you can do at this point...unless you haven't fixed the steps.

yes all lawsuits start very high! They start high and end up significantly lower after negotiations with your insurance company. Mine paid all costs as should yours unless you have a minor deductible.

What I would do asap if you haven't already is make sure the stairs are completely repaired. You're insurance company has already been alerted so all you can do now is move forward. Don't think about it, other than make sure stairs are safe now. If you get served at some point, don't stress, give to your insurance and let them take care of it, that's why you have them. Your rates may go up.

This happened to me. Have you been served? If not either it's in its way or the tenant is managing it on their own. If you get served pass it to your insurance and they will handle. Mine started at 150k and insurance settled at 30k. Insurances always cave and in your case it looks like they for sure will as you have admitted fault in fixing the stairs.