All Forum Posts by: Brian C.

@Phillip Austin thank you! Have checked this and the other tenant doesn’t meet their criteria, but they figured they’d pass them along if we wanted to make an exception.

Hi - Looking to hear pros and cons from the community on renting a unit to prospective tenants that are designated disabled veterans with verified monthly income from VA.

I have a MFH in PA with a unit that’s been having slight trouble getting a new tenant since Aug. We’re working with new property mgmt, have lowered rates, but have only gotten two applications (both disabled veterans with monthly income of 1-3k from veteran pension and are deemed legally unfit for work). One has no credit history while the other has an ongoing domestic abuse case.

I have hesitations with the new tenant potentially not meshing well with my other tenants, who have been long term tenants of 3+ years, and potentially not paying rent. I’ve considered holding off, but not having a tenant in 5+ months hurts.

Thanks in advance!

@Joshua Elizondo agree with what has been said above already with a smaller incremental raise if you want to keep the current tenant. What you can also consider is asking if they have any current issues with the apt. If they do, depending on what they are and potential cost to fix, maybe you can implement an increase while lettIng them know you‘ll fix some things you would’ve fixed any way if the tenant had decided to leave. Ton of creative options.

@Josiah McGinnis Im sure you have your answer among all the responses already. If it was me, I’d ask to have final approval on the plumber or be the one that sources it so you know it’s done by someone you’ve approved and not a friend/family of theirs. It’s a win win if they’re willing to cover the expenses and you have someone you trust installing it.

There's been a ton of great information already, but if I could add one thing.. is that there is ALWAYS a number that'll make any deal good. 

I'm in the motion of finding my first property as well, but the fear and analysis paralysis is tough thing to overcome.

Hi Everyone!

Hope you've had a great week so far and happy Wednesday! My investment partner and I are looking to start our real estate journey and building our rental portfolio. I'm a NY-native and have lived here all my life, but understand that buying my first few properties in NYC might not make the most financial sense or return. 

I've been doing as much research as I can, listening to as many BP Podcasts and scouring the internet, and we've finally decided to focus on Philly. We'd love to land a multi-family, but are open to any good opportunities. 

We haven't narrowed down the neighborhoods we want to focus on yet - but I wanted to make an introduction and would welcome any advice or opportunity to network. Would be a cherry on top if you're currently an agent or investor in Philly OR if you have any experience at all with the Philly real estate market :) 

I do have many more details to share, but am a bit shy laying everything out here on an intro post. More than happy to share any relevant details through a PM!

Looking forward to contributing where I can and meeting any of you! 

Hey Ben! Welcome and congrats not just to your first post, but for your RE acquisitions in the past two years! I’m fairly new as well and trying to dive deep into everything before my first purchase. Would love to hear the mistakes you’ve learned from your first two acquisitions and if you have any advice for a first timer looking to do a buy and hold rental strategy on multis (while also open to SFH)!