Getting into the GUTS of Rental Property
On a recent episode of the Rental Property Owner & Real Estate Investor Podcast, Brian Hamrick talks with Mike Bonadies, a landlord and co-owner of a New Jersey-based property management company about the dirty and gritty side of investing in real estate. Notably, the unglamorous aspects that most rental owners have to deal with, such as septic clean ups, eviction clean-outs, pre-1920’s construction and investing in C & D, and even F properties. Mike owns 25 units of small multi-family and mixed-use, and he manages 225 units. His maintenance and preservation company has worked on over 600 units and foreclosures, and they specialize in pre-1940 Multi-family construction. Interestingly, he househacked a duplex and still lives there today.
“…Mike is going to share his knowledge on the different types of electrical wiring and plumbing materials to look for during an inspection, septic and fuel infrastructure issues that can create expensive toxic waste clean-up problems, as well as his experiences getting rid of tenants who were selling drugs or prostitution at his properties.”