All Forum Posts by: Frank Fiore Jr

@Dennis Hernandez Hello welcome to BP; I haven't welcomed a new member in a while so welcome and good luck with your endeavors. 

@Ann Bellamy Date 5/8/14 in the topic box and 5/27 at the bottom of the post.... FYI :)

I am not in your area but just an FYI, make sure they spell out how many times they will sand and what grit they will use, and how many layers of Poly and what type... you should be getting this information with the quote it can make a difference in price.... Sorry I don't remember the details of my job but i know I looked into it a bit and ask the same questions to each company... I paid 2.25$ for 300 sq ft. 2 sanding and 2 layers of poly or whatever they call that covering.... you can usually tell how many layers they are putting on by the amount of days it will take, its going to take a day for a layer to dry enough to put on a second coat....

I'm sure there are many people here with more experience than me on this subject but I felt like listening to myself type today; so here is my 2 cents... Cash, offer cash, it always brings the price down! Always! :)

FYI, I would check the General Laws specifically but here it is.... NOT LEGAL ADVICE, in fact I was never here. :)

"Maximum Pre-payments

While a tenant may have a pet, or some interest such as portrait painting, which may potentially harm the apartment, you are prohibited from the collecting as advance payments more than the first and last month’s rent, one month’s security deposit, and the cost of installing a new lock (M.G.L. c. 186 § 15B).

It is an unfair or deceptive practice for you to demand that a tenant prepay rent when a tenant is not obligated to and did not, in fact, occupy the dwelling, unless otherwise agreed to in writing by both parties (940 CMR § 3.17 (6)(d)).

A violation of the Consumer Protection Statute c.93A, for committing an unfair or deceptive act against a tenant exposes you to up to treble damages, costs and payment of the tenant’s attorney’s fees."

I would be interest in an attorney interpurtitation of this line "unless otherwise agreed to in writing by both parties"

Would any of you be interested in sharing your opinion on how best to position oneself to benefit from what appears to be another bubble, your opinion on time line, liquidity, cash on hand, etc.... I read this article and; don't take this the wrong way; I smiled a bit... started thinking.... blood may soon be in the water... how best do I prepare myself.....

That being said I am completely new to this REI game and still working on my strategy and criteria. Just interest in hearing from those who seem more knowledgeable than I.

@John Adamkewitz

@Account Closed Hello, I tried using RocketLease and did not have much luck getting applicants to fill stuff out online, what has been your experience?

And I am assuming your showing the property before they fill this application online?

I also had a few issues with support but not that big of a deal; I kind of moved away from that site but in the future maybe I'll try it again if I hear otherwise from people such as yourself.

I only used this for one unit and over a short period of time... so it may have not been a long enough test run.

Real Quick... I'm at work :)

Look into: Keywords, Podcasts, monitor interested topics, read lots of blogs, follow and eventually colleague request individuals of interest.

You will get a better response to questions if its obvious you have read or researched a bit before hand.

Good luck...

I have been spending the last 7 months educating myself and this site is amazing in a lot of ways. Great great people and I can't wait to pay it forward!

@Ann Bellamy , this event is 3/25 correct? Not the 3/9 date noted in the post? I thought I missed it for a second there but 3/9 was a Sunday.....

@Drew Denham , 2 cents from someone who has made all the mistakes; I wouldn't be skeptical of buying any property. I would be skeptical of the numbers, more specially proforma #'s.

If you do your homework, get actual #'s on income, expenses, repair history, demographic information, type of market, cap rate, cash flow, NOI, ROI, total ROI etc... and it meets your investment guidelines there is no skepticism involved. Its a go no go at that point!

Math the universal language, I only wish I learned to master it at a young age!

O, and just make sure your guidelines are sound :)

I'm skeptical of a single person viewing a 3 bedroom who tells me they are the only person living there, I'm skeptical of the new BMW pulling into the driveway of a lower middle class neighborhood looking to pay me 3 months up front cash if I will not run a background check because they had a "bad" divorce. I'm skeptical of the "painter" who will paint my house for 5k if I pay half upfront cash.

Skepticism isn't always a bad thing I just think you can remove it from the buying process almost completely.

Good luck.

@Wayne Brooks , thanks for the quick feedback. To answer some of your questions.

I have two loans the primary is Fannie, secondary is Citi Bank

I moved out 2 years ago, live with my girlfriend (pay rent and 1/2 utilities)

I have a 401k, some restricted stock grants from work

If you need more detail I'd rather not put it up for all to see I could email or something.

My brother has a nice spot in Lake Worth, not to far from West Palm, and my father just picked up a condo near there..... was just out that way in December, very nice.