Heating, plumbing, electrical, water and sewer.How are the roofs, windows, siding and foundations?

COVD: unintended consequences, unexpected benefitsIn NEPA (Greater Scranton PA area) the market was starting to heat up in November 2019.

Rent roll:Apt 1, 3 br paying $1200, tenant paying utilities (due for increase)Apt 2 1 bedroom paying $1100 tenant pays heat and electricApt 3 1 Bedroom $1260, landlord paying utilitiesApt 4 Studio apartment w/alcove paying $1150, landlord pays heat and electricApt 5 2 BR w/office alcove. $1250 tenant pays utilitiesThere are 5 boilers for natural gas heat.

Look at the fall out of Miami during the housing crisis in 2007.

Dealing with pre-foreclosure sellers is a tough gig as a principal, I def wouldn't do it for a client.There will likely be some heated competition, but I recommend knocking on the sellers' doors or calling/texting them and asking if they want to sell the home to you. 

I upgraded the heating system to natural gas furnaces.

Heat is electric baseboard.

This will impact a LOT of people, including anyone who has 1031 property in rapidly-appreciating markets (CA, Miami, NY, Texas) and the longer they have held the property, the more they will likely be hit.

For those of you looking for a smart thermostat, Amazon has the Emerson Sensi on sale for $83.17 w/free shipping for Prime members.There are a lot of thermostats out there, but what makes the Sensi nice is that it doesn't require a "C" wire if you have A/C and heat.

#UrbanizeProperties team Janet Crucet and Kristine Flook represented the seller in this off market transaction that closed July 16 2020 in Miami Fl.