All Forum Posts by: JR T.

I agree with  Aaron the amount of increase is high in light of failing to raise rents in prior years. You should make a decision like the Lord of those two lands that you are and then notify the tenant's of their respective increases in writing as required by law. 

Do not start with any "preludes" as you did here. The tenants should not be subjected to your guilty heart. It's frankly laughable that you're on a real estate investment forum asking for advice on raising the rents on your investment real estate, yet money isn't "driving" you or this entire inquiry. 

I agree that good tenants are valuable in their own right and you should price the properties accordingly. But be firm, no backdoor outs like if one of the tenants disagrees and just make it a standard thing that you're going to increase rents 2.5-5% a year until you're 10% or so below what you're seeing in the market. I'd never take the two tenants you describe to full market rent - well that's probably a lie, but I'm unabashedly driven by money.

OK next please explain how you will achieve $1900 monthly rent on a 50k property. 

No financing, I doubt any bank would touch this deal with a barge pole. 

Are you licensed to market these securities?

Overcome that owners objections or buy out the 2/3 interest and stop collecting rent until you get the last third.

See if the seller will voluntarily​ give their original to you. If they cant or wont I suggest refunding the full deposit.

In Texas Id start sending​ them a five day notice of lockout stating if they dont pay in full on the first you will change locks on second. If you follow through remember you must have their new keys available​ at the location specified in the notice - its a tool to annoyimgly communicate only!​

Build lists of angry owners. Public Information​ Request​ all nuisance code violations, go inspect all the eviction​ filings, etc

Done it and aside from delaying the recordation for six months, no issues. Dont worry though i promise those 6 homes have enough issues to keep you busy

The landlord is obviously​ upset their tenant is a filthy disgusting pig who will not control nor clean up after her kids. That the tenant also pays rent late makes the relationship​ worse. Time for tenant to get their act together or leave.