All Forum Posts by: Brett Iwanowicz

This site has been very motivating, and I love the feedback and forums!!!!

This past year has been my first year working for myself, prior I worked with someone for 8 years, he was mostly the financier and my lack of knowledge and naivety in our relationship left me with no part of the business.  On a good note, we did have a great relationship, while it worked, I learned a lot and made some amazing contacts which allowed my first year working for myself to be a success.

My goal is to add 3-5 properties a year, I was able to meet an amazing client, we closed on 3 homes this past year,  I purchased another duplex and was able to increase my rents by 30% through capital improvements.  Just 13 days into the new year, we made an offer, I guess a hail mary on a home, not expecting much and the offer was accepted today

I love seeing hard work pay off, especially when I run my business using referrals, no advertising, just hard work and honesty. 

Thanks for saying hello @James Wise 

Great advice @Peter MacKercher 

Very true @Mehran K.

Hello All,

My original post was removed for displaying my website, which I was unaware of, as I was not advertising my services, but rather trying to introduce myself.  I wanted to create another post to try and continue to build rapport by saying hello, as well as saying sorry, for those whom I did not respond.

This past year was my first full year working for myself, both scary and exciting at the same time. It has been a wonderful year, acquiring my own clients, and making new friends!!

I am a referral only business with 8 years in property management, with expertise in both major and minor capital improvements. I provide a detail oriented, one on one experience; always exceeding customers expectations. We do our best to stay on top of trends and work with customers to manage their money efficiently, improving their re sale value and achieving maximum rents. Currently I am inquiring new homes to manage, as well as building my own portfolio.

@Wayne Brooks We have have a signed management contract that addresses the option to purchase. The contract is is actually written as more of a purchase agreement,  detailed in terms of costs associated with buying the home, maintenance costs, etc.   My lawyer drafted the agreement, we will be having both attorney's review before signing.  My investor is very detail oriented, part of his job is examining contracts for pharmaceuticals.

Hello Guys,

I just brokered my first property with a private seller and one of my investors, as well as arranging an option to purchase the property in four years.  I am extremely excited about this home, not only does it make above average returns but a recent comp shows this home to be of much higher value than my original analysis.

My questions is do we need to have a notary stamp our option purchase agreement in NYS?

I like to send monthly statements via email to tenants, which also has our web portal to make online payments.  I give the tenants an opportunity to let me know if rent is going to be late, if there is a valid reason, we will agree on a date to make the payment. If rent is not paid on the agreed date, I charge our late fee and any additional fees associated.  

I also do not charge tenants a late fee, for a first offense, we all have made mistakes, are forgetful and things happen, it is out of courtesy.

My prior and current business is/was driven by poor landlords, when tenants understand you appreciate them and care for them, it does wonders!  Never jump to conclusions, never take offense and always give them opportunities to redeem a mistake, within reason of coarse. Some may take the standpoint that tenants would take advantage of this, hire a quality management company and you don't have to worry about this, personally I would rather loose two months of rent waiting for the right tenant.   In fact I have on a few of my properties and I could not be happier, I spent $25,000, upgrading two apartments, tenants pay on time and the units are spotless.

Personally it is important to remember, in giving we should never expect anything in return. 

I would have to disagree with the last post, if she is in fact a good tenant, some leniency at times is worth it.  Of coarse we are all here to learn how to make money but we can't always be focused on $$ signs.