EP254 Getting into the GUTS of Rental Property: Electrical & Plumbing, Septic Systems, and Investing in Problem Properties with Mike Bonadies
Manage episode 276877714 series 2391318
Today we’re going to talk about the dirty and gritty side of investing in real estate and 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. These are the parts of our business that people rarely think about that can actually be quite profitable.
And here to share his experience in this area is Mike Bonadies, a landlord and co-owner of a New Jersey-based property management company called TerraVestra, as well as a maintenance, preservation, and construction company called Side By Side MRO.
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.
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.
I know you’re going to get a lot of great information that will help you make better decisions when investing in rental property. You can contact Mike by going to: