All Forum Posts by: Anthony Cresswell

@Ben Ertl So i was looking at a Duplex on Berner St last year. Great solid place, new basement, the works, i was advised by local investors not to go there. The reason being is if you want to be there on a weekly basis cleaning up or repairing something then it will work but if you want an 'easier' life it probably isn't what you want, that is unfortunately the downside with a class C property you also get class C tenants... Now that was Berner which is further North. It appears the further South you go the better things get. But the prices do jump a bit...

That being said you might be getting a super good deal and that area is somewhat improving but it is still kind of depressed hence the crime map.

What Street in Green Bay?

Should go quite far in Green Bay. What are you trying to achieve?

Hi Justin

Please send info to [email protected]

Thanks

Hi Zach. Please send me updated list.

Again thanks everyone for your input it is much appreciated.

@Deanna McCormick The property is 2BR/1.5BA side by side duplex located in Allouez, WI. It is a newer 2 story type.

I'm thinking i will go with the simple $25 increase every year until we are up to market. 

Thanks everyone for the input.

Yeah i kind of agree about the 2 year thing, that was an idea i saw on another website and saw mentioned on that other posting mentioned by @David Wallis

@Colleen F. That's a good question. I inherited this tenant 9 months ago when i purchased the property. I have no idea if there were regular increases. What i do know is that when she signed the original lease it was 725/mo...

Hi BP

I'm wanting to raise the rent on one of my units. The tenant is long term having been there for around 14 years. Unit is under market by around $100/mo or so.

I'm trying to present them with some options as i would like to keep hold of them. I have come up with the following letter. Do you guys think this is too much information or a good idea?

"I have been reviewing the market rent and what you currently pay. I’m a firm believer in retaining quality tenants and you and your family certainly fall into the category. As such, I wish to propose the following options:

2 year Lease term. Rent would increase to $865.00/month for two years. Representing an increase of 4.85%

1 year Lease term. Rent would increase to $875.00/month for one year. Representing an increase of 6%

Month-to-Month lease. Rent would increase to $895.00/month. Representing an increase of 8.48%

Please be advised that effective 5/1/2017 the monthly rent for this premises you occupy shall be increased to $895 per month. This is a change from your present rent of $ 825 per month.

Should you wish to sign a new lease agreement or continue your tenancy month-to-month, please sign and return the attached lease agreement. All other terms of the Lease Agreement will remain in full force and effect. If you do not wish to renew your lease, please provide your notice as soon as possible or no later than the legally required date of 05/30/2017"

Put wallpaper up. Although i think @Deanna McCormick beats that....

Hi Alex, Welcome to the community! I would say if you have the ability to put 25% down on the Triplex then do so. I bought my first duplex with FHA loan at 3.5% down which for me made sense as i was going to live in it anyway. But i'm guessing that you would probably want to stay in Appleton and avoid that commute (i know i would :-). Besides while the CoC return will be greater with the FHA loan the cashflow will not be, you have to remember that you will be paying PMI on top of that which will kill your cash flow.

Just my opinion. Others will soon chime in.

Where did you find that Triplex?