All Forum Posts by: Pete Z.

Hi Paul,

Thanks for replying!  Please give me a call at 603-889-0711.  It would be good to talk.

Hi,

I always have a paper applications at the showings.  I have found that if the prospect does not fill the app. out at the showing and they take it with them to FAX or email then there is about a 85% chance you will never hear from them again.  Years ago I would get frustrated but then I realized that "it does not matter what they say to you and how eager they seem". If they do not fill an app. out right then and there then you simply will not hear from them again.

Hi I am looking to form a "mastermind group" for a few people who are sort of like myself.  I would like to share strategies and tactics about buy and hold, or flipping etc.  I am looking to be inspired by others and I guess inspire others.  I am 52. Ideally someone who has a 2-4 million plus net worth and at least 200K positive cashflow per year from real estate.  One or two people from Northern Massachusetts or New Hampshire would be good and maybe have a breakfast meeting once a month? I am open to ideas :)

Hi,

1) Do not just look at the "numbers" when you buy your first multi.  (My first mistake in 1988)  This is going to be a part-time job.

2) Your Tenants can make your life completely miserable (if you choose to let them) or leave you with a positive experience.  Try to make really, really sure you screen your Tenants (especially your very first Tenants because there is no second chance for a good, profitable first impression in a new business). Otherwise your very first property might burn you out.

3) Find a very successful mentor in this business! I almost forgot this.  I never have really had one (too proud to ask for help) and I think it most probably would have changed my career/financial life drastically for the better. I know of some people who did this when I started and are now with many millions more than me. 

Hi,

I have found that the listing agent has a huge incentive for you to purchase his/her listing as they will make/earn twice as much money.  When negotiating price and terms this has almost always given me a surprising and eye-opening strategic advantage.  

If you really want a particular property then I would stay in very close contact with the listing agent for that particular property.  I have pretty much only dealt with listing agents or with owners directly.

Hi,

If they bite someone I have heard you as Landlord can also be sued. Dog urine and feces and vomit are another issue (all dogs can/do have an occasional accident). That said, I generally do not allow dogs. That said, be Extremely careful turning down someone if say they have a note from a therapist or doctor saying they need a dog. If they report you to HUD it will be a nightmare.

In my state some people charge an extra pet deposit in addition to the security deposit.  I do not know if this is legal in your state.