All Forum Posts by: Brett Iwanowicz

@Dustie Zvolanek  Thanks for the response.  As I'm going through the RE course, I am finding that my broker would have to have a huge amount of trust in our relationship, all of which is cool with me. I need to sit down and maybe talk this out some more with some people.  Basically I meet a homeowner, I have to disclose to them I am an agent, but I am interested in purchasing their home at a discount. I would also have to disclose to them if they made improvements they may be able to sell at a higher price, if not I am using my knowledge for personal gain. What else should be considering when meeting with homeowner, I may be one of their last options to avoid financial strain.

Currently I own and operate a PM management company, and have procrastinated in getting my RE license; I am doing so as we speak. The market is SOOO saturated where I live, the scraps aren't even worth fighting over, home prices are selling well above asking, properties that need updating are selling at ARV values. Investors are buying based off appreciation, rather than cash flow, and I just cant compete. Myself, and my investors are looking to make 10-12% and it's dang near near impossible to find a deal. This has forced me into a position to be creative and start direct mail marketing, pursuing off market leads. It seems that it would be quit easy for me to market myself as a reputable wholesaler, as I have already established myself within a great network of associates, also including the lack of creativity with handwritten signs all over the place. My questions is, how does this relationship work with my broker? If I place a home under contract and make $10,000 at closing, I obviously have to run this deal through the brokerage. The only way around this is to eventually start my own brokerage firm correct?

Very nice, congratulations!

@Amber Spence 

I had some crazy tenants this past year, they were amazing and then they just turned psycho,  like to the point of somehow they had mice, and this is an extremely nice unit.. They would not allow me to trap and kill them one girl even had a tantrum and cried while the exterminator was there.. Since I am a good landlord I invested about 2300 which included exterminators and installing all new glass block... Anyway, I did not want to renew, I sent an email, certified 60 day letter they refused to acknowledge, I had to loose one months rent, and it cost me an additional $2000 to fix the place back up bc they trashed it also.. They threatened to sue me but like everyone else said, if you have everything documented, tell them you will see them in court...  They even kept harassing me and my lawyer turned into the pitbull I asked him too, didn't even charge me to get my point across.

The lesson I also learned is that my tenants need to allow me access for maintenance, as long as I give them 24 hours, they were denying me access... I know thats a separate topic, but it is part of them being difficult, all of which was documented.

Hope it works out well, and good luck.  Oh, and another method that may help is that you require tenants to have renters insurance, its only like $4.00 a month here, this will help in instances where things may be stolen.. They can waive it but then you will never be responsible.

I was not completely sure which forum to start this thread.....

December is always a month of self reflection and goal planning, it is apparent to me that I need to step outside of my bubble and continue to develop and build new relationships and partnerships in order to grow.  It is a desire of mine to continue to educate myself, I am looking for someone local who may be looking to partner or even hire a GC on any renovations, and or flips.  I have have successfully renovated about a dozen home, some flips, mostly buy and hold for investors.. My hopes would be to link with someone and further acquire knowledge and skills to help build my own portfolio..  

So what do I have to bring to the table....

1. Over 10 years in property management, currently own and operate a referral only management operation.  Just recently I have been able to acquire a four unit and 6 unit, 2 commercial spaces, some homes have not been included on my website at this time.

2. I operate a full time painting company with over 10 years of experience, only working in high end homes, I can bring these skills into any project and provide a superior finish on all projects at a discounted price.

3. I have a full time employee who I have been mentoring and training to hopefully help maintain my units and use as a contractor.

4. I have an open bid room at all time at HD, and also get tiered pricing up to 20% off at any given time.

5. I may be willing to give up a pretty good salary to acquire knowledge and develop relationships, within a partnership and/or any other opportunity.  I am not looking for someone to place me in a position to figure things out, or get things done.  I this process I am also hoping to find somewhat of a mentor.

6. I am keen on trends, including design, market trents, rents, decorating, renovations to maximize profitability.

7. Of my 3 properties invested I have over $80,000 in equity that I am hoping to be able to utilize this upcoming year.  In each of my homes I have been able to increase rents by more than 30%.  I have been able to help an investor do the same, last year we brought rents up from $750 to $1200 per unit in the upper monroe area, with only st. parking.

8. I dont know if it matters but I am local, graduating from AQ , and St. John Fisher with a concentration in HR.

I am happy to share progress on my latest investment including pictures. I would love to focus on SFR, and/or Multi families, duplexes. Feel free to reach out, I hope to talk to some of you soon!

I am in the process of signing a contract with a home owner that my old business partner is/was managing, by no means did I even reach out to the owner, if this was to happen, I wanted it to be organic.

So my question is, how do I manage the transition, can I obtain tenant information, I would also need keys to be able to show the unit to potential renters.  What if they refuse to provide keys and tenant documentation, cant I still enter the home with the owners approval?

Any feedback would be greatly appreciated.

@Peter MacKercher 

 The owner has been aware the whole time, and has signed the addendum as well.

I have manged student housing a for 8 years and have never had to evict anyone, usually we can calm things down to be bearable, but I have never had to deal with safety concerns like this and am wondering if this can be an immediate terms for eviction.

Hello Everyone,

I have a scenario that I am not sure how to approach.

I have a group of three individuals living together, the investors son picked the two roommates and I manage the home. One of the roommates has turned out to be an alcoholic who likes to party late and have guest stay over frequently, he is not necessarily the most cleanliness either. I do have a pretty detailed lease stating housing regulations with roommates, and also had an addendum signed re stating the rules and how I will be enforcing them.

But there is more to it, the individual had a friend over, whom barged into the females room while she was sleeping asking for a ride home, and on another occasion I was also told the problematic roommate was drunk walking around the home with JUST a shirt on, with all the goods hanging out. I am actually concerned for the safety of the other two roommates, especially the female. 

Can I issue an eviction notice for safety concerns, this is the first place I am starting to get some feedback.

Hello Everyone,

I have a scenario that I am not sure how to approach.

I have a group of three individuals living together, the investors son picked the two roommates and I manage the home. One of the roommates has turned out to be an alcoholic who likes to party late and have guest stay over frequently, he is not necessarily the most cleanliness either. I do have a pretty detailed lease stating housing regulations with roommates, and also had an addendum signed re stating the rules and how I will be enforcing them.

But there is more to it, the individual had a friend over, whom barged into the females room while she was sleeping asking for a ride home, and on another occasion I was also told the problematic roommate was drunk walking around the home with JUST a shirt on, with all the goods hanging out. I am actually concerned for the safety of the other two roommates, especially the female. 

Can I issue an eviction notice for safety concerns, this is the first place I am starting to get some feedback.

@Ned Carey 

 I do have a website, it is however set up for tenants to fill out application forms or submit repair request. I personally think a website is part of networking, as I introduce myself, I can funnel people to my site to refresh their memory about my services, contact me, and or learn more about me and my goals.