Raising rents on existing tenants when buying property!?

[Hector Salas]

Hello BP community! I have been analyzing a lot of properties that have great potential, but rents are way below market value. What steps would I need to take to raise rents to current market value, on a recently purchased property, given the property is in good condition. I am searching in Los Angeles CA, San Bernardino CA, and Riverside CA. 

[Jess Pavlansky]

Hector, 

If you find that you are able to raise the rent, check out BP episode 448 with Dion McNeeley. He has a really inventive way to raise the rent with the consent of the tenant and possibly sign them to a longer lease (Binder Method). It is toward the end of the episode if you don't have the time to listen to the full podcast. Best of luck!

Jess