• About Frank

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  • Frank Rizzi manages Bos Commercial in West Covina and has been in real estate since 1988. Since then, he has made millions for his investors over the last decade.

    With his team of experts, he has built a solid reputation as a responsive expert with in-depth market perspective of a local firm coupled with the sophisticated capabilities of a national company.

    BOS Commercial has positioned itself to handle every aspect of your commercial property
    investment whether it be purchases, management, leasing, renovations, or sale of your property.

3 Fair Housing Mistakes That May Cost Landlords

There are many things that Property Management companies do, and taking care of Landlords is one of the highest priorities. Below is an interesting article that should help.

As HUD is wrapping up Fair Housing Month, it is a good idea for landlords to review the most recent trends in fair housing prosecutions, and avoid some common mistakes landlords today are making.

Based on claims filed last year, here are the top 3 myths that landlords share regarding fair housing laws:

 A landlord can enforce pet restrictions.

Not true when it comes to tenants with disabilities.

HUD is committed to pursuing landlords who refuse to allow prescribed companion animals for tenants with disabilities. A lack of knowledge regarding the companion animal rules contributed to many of these cases against landlords.

Landlords cannot apply their standard pet restrictions, such as type of pet, size, or weight in the case of a “companion” or “emotional support” animal. Further, a landlord can’t charge a pet deposit, make the tenant live in a different unit designated for pets, charge more rent, threaten to evict, or refuse to renew a lease because the tenant has a companion animal. 

A landlord can rein in those noisy kids.

Landlords cannot limit where children can play. All common areas must be kid-friendly. Landlords cannot designate “kid-friendly” units or relegate families to a particular section of a building. Fines for noisy kids are troublesome, unless there is a standard noise policy enforced against every adult, too.

A landlord can avoid discrimination simply by telling some tenants “no vacancy”.

There were a number of fair housing complaints this year based solely on the landlord telling a prospect they suspected of being of a certain race or family status that there were no vacancies. The landlords were not speaking to rental applicants, but rather to testers posing as applicants.

When a tester is rejected, their counterpart with a different profile will call a few hours later and try to get a showing. If the landlord takes the bait, they face a charge of discrimination, which can result in fines, damages, payment of attorney fees, and other remedial action like mandatory training.

http://www.american-apartment-owners-association.org/blog/2012/04/23/avoid-these-common-fair-housing-mistakes/

Irrefutable Laws of Leadership Part 5 (The Law of Addition)

  • Adding Profits by Adding Value – Costco’s CEO, Jim Sinegal, believes the success of Costco comes from treating his employees well.
    • Costco employees are paid an average of 42% more than the company’s chief rival and they also receive generous health care coverage.
    • Sinegal shows he cares and respects his employees – he has an open-door policy. He is on a first-name basis with everyone.
    • Sinegal’s salary is well below what other CEO’s of similar size company’s make because he is more focused on serving his employees than making an exorbitant salary.
    • The result: Costco has by far the lowest employee turnover rate in all of retailing.
    • The bottom line in leadership isn’t how far we advance ourselves but how far we advance others.
    • There is one critical question: Are you making things better for the people who follow you?
      • If you can’t answer with an unhesitant yes, then you likely aren’t.
      • 90% of all people who add value to others do so intentionally. Why do I say that? Because human beings are naturally selfish. Being an adder requires me to think about adding value to others.
      • Adding Value, Changing Lives – four guidelines for adding value to others.

1)      Truly Value Others – effective leaders go beyond not harming others, they intentionally help others. They must value people and demonstrate they care in such a way that their followers know it.

2)      Make Yourself More Valuable To Others – the more intentionally you have been in growing personally, the more you have to offer your followers.

3)      Know and Relate to What Others Value – this can only come by listening to your people’s stories, their hopes and dreams. Learn what is valuable to them and then lead based on what you’ve learned.

4)      Do Things That God Values – God desires us not only to treat people with respect, but also to actively reach out to them and serve them.

  • The attitude of the leader affects the atmosphere of the office. If you desire to add value by serving others, you will become a better leader. And your people will achieve more, develop more loyalty, and have a better time getting things done than you ever thought possible. That’s the power of the Law of Addition.
  • When adopting this law into practice one will soon see the results. Whether you’re a Property Management Company or a Landscaping Company this law benefits all.

Get Investing

Obviously the real estate market is still suffering, but is the worst behind us or is it yet to come? As a Property Management company the condition of the real estate market is of great importance. According to Dean Graziosi, a real estate investment guru debating whether the market is at its lowest right now could cost you the opportunity of a lifetime.

“Anything new in someone’s life always seems difficult and scary,” Graziosi says. “Right now fear is the No. 1 deterrent in real estate investing. What takes away the fear is proper education. Once you understand something, the fear is gone and you’re ready to take action.”

After buying more than 250 homes around the country in just a 60 day period Graziosi’s actions speak louder than his words. 

Stabilization = Power

According to Graziosi, one of the best indicators of the market’s position is the stability of DOM (Days on Market) statistics.

“If the DOM, or how long a property takes to sell, is increasing, it means the market is dropping. If it’s decreasing, it means the market is growing,” he says. “The DOM has stabilized in pretty much every market across the country.”

Even if the market drops a few percent more, the education Graziosi offers about how to implement smart strategies allows people to buy significantly below the bottom – wherever the bottom is.

“That’s where people gain their confidence,” he says.

Free Work

Another worry holding investors back from seizing the day is the worry of unforeseen start-up costs.

“Unlike any other profession, in real estate you can have a team of experts that will work for you for free,” Graziosi says.

Real estate agents looking for great deals, contractors and handymen giving free quotes, even title companies work for free until you close deals – they make money when you make money. All this allows investors to tap into expert knowledge without up-front costs.

Graziosi says one of the reasons he is actively investing more than ever is he’s partnering with his students more than ever.

“The real estate market changes month to month,” he says. “Working with other people who are out there on the ground helps you see things you couldn’t see on your own.”

Matt Larson, one of Graziosi’s students and a former machine shop worker, has now become one of the guru’s most trusted partners.

“More than 100 of the last 250 deals I bought were through Matt,” Graziosi says. “Developing a support team of other people helps you find out about what strategies are working out on the ground right now.”

The Greatest Time for Profit

While knowing the latest, greatest strategies is important, it isn’t necessarily required to be successful right now.

“This is truly the greatest time in the history of profit,” Graziosi says. “By accident you could make money in this market.”

Graziosi first got involved during the real estate market crash in the early 1980s and found unbelievable success.

“If I put my money in stocks and bonds, I have no control,” he says. “But if I put my money in real estate, I can have tenants paying down my debt or paying back my loss while the market grows.”

And attracting tenants is in your control, especially because you can choose to buy in smart locations and invest in properties in high demand. You can buy below their already rock-bottom market value.

And the best part? Graziosi teaches his students daily the details of how to make smart real estate decisions. He also educates people looking to make money as the middle man, matching cash investors who are wary of stock market investments with motivated sellers on the market.

“We teach them to sift, sort and screen to find deals among the motivated sellers,” he says. “When they match the two up, they find a fee in the middle.”

Middlemen like these can make between $2,500 to $10,000 per deal with no money down, further evidence that the versatile real estate market can make money for any set of needs and interests.

Forward Motion

To those thinking about entering the real estate market right now because they’re a little desperate, Graziosi says, “Stay desperate. People who are desperate take action.”

He’s careful to make sure his students know real estate investing isn’t easy — it requires focus and hard work. But a little hard work doesn’t scare most people. For most, it’s past mistakes that are paralyzing.

“When you fail, when things go wrong in your life, when you’re disappointed, how fast do you bounce back?” he says. “If it takes you a long time, success will also take a long time.”

 And in a market opportunity this good, there’s no time to waste.

Irrefutable Laws of Leadership Part 4 (The Law of Navigation)

4. The Law of Navigation – Anyone Can Steer the Ship, but It Takes a Leader to Chart the Course

  • First-rate navigators always have in mind that other people are depending on them and their ability to chart a good course.
  • Before good leaders take their people on a journey, they go through a process in order to give the trip the best chance of being a success:
    • Navigators Draw on Past Experience – every past success and failure you’ve experienced can be a valuable source of information and wisdom. Success teaches you what you’re capable of doing and gives you confidence. However, your failures can often teach greater lessons, if you allow them to. If you fail to learn from your mistakes, you’re going to fail again and again.
    • Navigators Examine the Conditions Before Making Commitments – No good leader plans a course of action without paying attention to current conditions. Good navigators count the cost before making commitments for themselves and others.
    • Navigators Listen To What Others Have to Say – Navigating leaders get ideas from many sources. They listen to members of their leadership team. They spend time with leaders of other organizations who can mentor them. They always think in terms of relying on a team, not just themselves.
    • Navigators Make Sure Their Conclusions Represent Both Faith and Fact – A leader has to possess a positive attitude. If you can’t confidently make the trip in your mind, you’re not going to be able to take it in real life. On the other hand, you also have to be able to see the facts realistically. If you don’t go in with your eyes wide open, you’re going to get blindsided. Balancing optimism and realism, faith and fact can be very difficult.
    • Charting A Course with A Navigation Strategy – here’s an acrostic that the author used repeatedly in his leadership.

                                        Predetermine a course of action.

                                        Lay out your goals.

                                        Adjust your priorities.

                                        Notify key personnel.

                                        Allow time for acceptance.

                                        Head into action.

                                        Expect problems.

                                        Always point to the successes.

                                         Daily review your plan.

  • The secret to the Law of Navigation is preparation. When you prepare well, you convey confidence and trust to people. Leaders who are good navigators are capable of taking their people just about anywhere. 

 

As a  Property Management Company BosCommercial understands the importance of these truths.