All Forum Posts by: Aaron A.

@Matthew Chalfant I recently inherited tenants who were paying 19% under market rent. I provided a 60 day notice before the end of the lease term to explain the renewal rate increase. I stair stepped the rent increase. The first 6 months I increased the rent 9%, then another 9% after the first 6 months. I also provided a month to month option to allow flexibility. I wanted to give them plenty of notice and work with them as much as possible. But at the end of the day, I need to maximize my profit to keep growing my business.

@Brandon Beatty I reached out to my lender and he was helpful. He also advised to work with my CPA to make sure I’ not too far into the red. I like your idea of sending it to the lender for review. Thank you for your help!

@Wayne Brooks that is great information. I appreciate your help.

Hello and thank you for reading and offering guidance. I'm newer to REI. I have a SFR that was previously used as my primary until 2020. I purchased a duplex in 2021. I replaced a roof, remodeled a bathroom, replaced a HVAC system and several other costly projects. I also took a withdrawal from my 401k in 2021 for downpayment costs on the duplex. My fear going into tax season is claiming too much of a loss and hurting my DTI for potential purchases in 2022. Is there a rule or guideline you follow to balance taxes so you are claiming appropriately but not to your future borrowing power?

@Keith Resnover I live in Indy. I have a SFH in Fall Creek Place and a duplex in Brazil, IN. I'm looking for my next 2-4 unit. My short term goals are to purchase more MFH (2-4 units). My long term goal is to purchase small apartment buildings (5-20 units). It would be great to meet other local investors.

I am analyzing a deal. I’m not sure if it would classify as a commercial or residential property. The main house is split into a quadruplex. The detached garage has two more units about it. The parcel technically has a total of six units. What are your thoughts? Should I look at a residential loan or will this require a commercial loan?

I realize this is a long shot but I just found an amazing opportunity in Indianapolis, Fall Creek Place neighborhood. I am looking for private lenders to help fund a fix and flip deal. The deal also includes an empty lot next door. Please PM me for additional information.

@Eli Kallison I have a contact for an interior designer who specializes in kitchens and baths. He works with a lot of investors.

Cruz Acosta

www.yourdesign317.com

@David M. thank you. I figured the minimum loan amount changed post covid. The $100k seemed to be a high minimum loan requirement. Thanks again for your help.

@Tommy Adeoye thank you! No, I am not tied to them. I have a working relationship with them but I shouldn’t let that stand in my way of a good deal. I will call around tomorrow.