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All Forum Posts by: Thomas Hickey

Thomas Hickey has started 34 posts and replied 299 times.

Post: Re: Raising Rents Immediately after Closing Escrow

Thomas HickeyPosted
  • Real Estate Investor
  • Peabody, MA
  • Posts 304
  • Votes 91
Most people are set in their ways if you raised the rent to only $1800 they would never pay it but would gladly pay it to a new landlord, it's just human nature

Post: Having a real estate agent show apartment units

Thomas HickeyPosted
  • Real Estate Investor
  • Peabody, MA
  • Posts 304
  • Votes 91
Depending on how big you have grown they always say the last aspect of your business you want to let go of is the leasing. Realtors will also go by the book, you as the owner will have a little more gut feeling in addition to proper background checks.

Post: I think they are smoking in the apt

Thomas HickeyPosted
  • Real Estate Investor
  • Peabody, MA
  • Posts 304
  • Votes 91
Although I agree it is wrong, if they have been doing it for a while the damage is done and you're going to have to repaint anyways because of it. If they're otherwise good tenants I wouldn't evict over it.

Post: Tenant will not stop asking for improvements

Thomas HickeyPosted
  • Real Estate Investor
  • Peabody, MA
  • Posts 304
  • Votes 91
Addition by subtraction

Post: Lead paint with inherited tennants

Thomas HickeyPosted
  • Real Estate Investor
  • Peabody, MA
  • Posts 304
  • Votes 91
James Denon Unfortunately appraisers do not count deleading as adding value, even though they should. That's why so few people do it, combine that with the unfunded mandate the government placed on landlords and you can see why almost 40 years after it was banned most multi-families still have it. Does give you a competitive advantage with families, you just have to decide if the cost justifies making it easier to rent.

Post: Tenant will not stop asking for improvements

Thomas HickeyPosted
  • Real Estate Investor
  • Peabody, MA
  • Posts 304
  • Votes 91
I agree with the friendly but firm. I might add distant, I've even lived in my properties and people don't usually bother me when I'm outside washing my car etc. because I told them to submit everything on paper in writing because I tend to forget.

Post: Connected Investor is a SCAM

Thomas HickeyPosted
  • Real Estate Investor
  • Peabody, MA
  • Posts 304
  • Votes 91
Was it anyone on this site that sent them to you ?

Post: Owner occupied 5+ unit multifamily loan?

Thomas HickeyPosted
  • Real Estate Investor
  • Peabody, MA
  • Posts 304
  • Votes 91
Tim Milazzo Thanks Tim PM sent

Post: Tenant will not stop asking for improvements

Thomas HickeyPosted
  • Real Estate Investor
  • Peabody, MA
  • Posts 304
  • Votes 91
Like they say keep in mind the 80/20 rule. Except don't allow that 20% to capitalize on 80% of your time. When I get them I usually try to consciously focus on my other residents and projects and give the high maintenance residents minimal time and service. Typically with this approach they either leave or realize the situation for what it is.

Post: Tenate wants to move in his jobless friend

Thomas HickeyPosted
  • Real Estate Investor
  • Peabody, MA
  • Posts 304
  • Votes 91
Ma law can be tricky. Say you have to evict them someday, if you add deadbeat friend to lease he now has a right to appear in court and can claim hardship because he has no job, perhaps even has a kid he will show up to court with that you didn't know about.