All Forum Posts by: Scott Goulet

When would be good for you? Maybe 3rd Sunday of the month? 

Hi there BP, I just moved to Port Saint Lucie FL, from Massachusetts, however I am a FL native. 

I own 7 total rental Units, so by no means do I know everything, however, I would love to get a monthly or bi-monthly meetup going in Port St Lucie. I would love to get to know some more people and we can learn from each other. 

If you would be interested in an investor meetup, please feel free to comment below and let me know if a saturday or sunday would work best for everyone, perhaps the 3rd Sunday of the month? 

If there is already a meetup somewhere in PSL on a regular basis, please let me know! 

This is why I love BP! Thank you all so much for your thoughtful responses. I can see there is alot of experiance in this group and I will proceed to make the tenant pay, possibly of a payment plan etc. Thank you all! 

Hi BP,

I want to preface this post by saying I believe in total equality and I treat everyone fairly in all of my rentals.

I have a situation in one of my rentals, where a sliding glass door was clearly broken by the tenant ( glass shattered from the outside in, police report specifically states it was not a wind driven event) and the tenant had taken a small branch from the yard and placed it perfectly on her bed and is claiming that a small branch shattered a double pane sliding glass door.

My property management company went out to inspect, they came to the same conclusion as the police officer. This was clearly the tenant fault and they would need to pay to fix the door.

My PM company called me today and said that the tenant cussed out the entire PM company calling everyone racist, even the police officer. My property managment company is recommending that to save face I offer to pay for half of the sliding glass door.. it's not a huge amount of money, but I feel that if I give in here, if the tenant breaks something else and we refuse to fix it, she will pull the race card again.

How would all of the other landlords here handle the situation? I want to tread lightly here, as to not aggravate the situation. Thank you all for your valuable input.

Hey BP,

Question for everyone. I have 3 rental properties, 2 in florida and 1 in missouri.

I have a quadplex, a triplex, and a condo.

It seems like every year my insurance on all three properties goes up by 20-30%. Is this typical? What are you seeing as a standard insurance rate increase per year? I feel that if insurance rates go up by this much, every year, I would have to increase my rental rates just to try to keep the same amount of cash flow.

Please let me know what your thoughts are here.

Much appreciciated.

Scott G

You All are rockstars. I have been using the biggerpockets for square method for evaluating my deals. I also created my own rental property calculator. I do believe it is partly my PM and partly my property. Certainly it does need a little bit of work, but overall it's just a basic triplex. What are the typical %'s you use for vacancy, and capex? I know this varies by market, but just as a rule of thumb? 

All of you are awesome, I appreciciate all of the feedback. Biggerpockets make landlording bearable sometimes. 

@Krystal Stone -how did you find those trustworthy connections if you dont mind me asking?

@Joshua Hower I have tried to get my PM company to send me pictures but they just will not do It for anything less than $300, but it just seems like month after month there is a slew of charges that are just under the $300 threshold.

@Steve Vaughan words of wisdom for sure. I read the long distance real estate investing book by david greene, and have been trying to implement it.

Buying cheaper properties elsewhere, but then I have rely and trust that my management company isnt screwing me.. no real way around that it sounds like?

@Joe Villeneuve I understand why we buy rental properties and yes some months do cash flow well. I did buy the properties right and all my properties go above and beyond the 1% rule.

However, I can never predict my income due to property management sending me little maintenance things every month.

I guess this is a general problem with PM, not with the real estate itself.