All Forum Posts by: Brian Chu

What are the commissions to agents in a traditional transaction on buying/selling a multifamily apartment complex (~20 unts). And in general, does the seller pay the buyer/sellers agent, similar to single family home transactions? Thanks!

Just a deposit which covers most of one month's rent. The court in my state (NC) does currently allow eviction filings.

I gave a current tenant a 60-day notice of non-renewal that let them know I'm not planning on renewing their lease at the end of August. Somewhat unsurprisingly, they've decided to stop paying rent for July. I'm curious if it's worth me filing a formal eviction due to non-payment of rent. I have a feeling they aren't going to pay, and it might not be worth taking them to court. 

I have a 2/2 where I rent each room individually to different people. One tenant is a model tenant (keeps things neat and clean, always pays on time). The other tenant always pays rent late, calls to complain about every little thing, has a lower credit score, and is generally a bit more work to deal with. 

Both of their leases are up for renewal at the same time. I was wondering if I could write up different leases for the two different tenants. For the good tenant, I'd like to do a year long lease. For the problem tenant, I'd like to do a 3 month to 6 month lease to give me flexibility to not renew if they continue to create problems or go delinquent on rent. 

Any thoughts on this?
 

Thanks for the input! So here's another weird wrinkle. It's actually a sublease agreement in that the current tenant took over the lease for a previous tenant. The sublease agreement states that the lease is up on 8/31/20. Not sure if that changes anything. There is no stipulation for any sort of extension. 

My concern is that if I give a full 60 days notice, the tenant will just stop paying rent and take the eviction on their record. I'd rather give notice a bit closer to the time that the sublease is up.

I have a tenant that is a habitual non-payer/late payer who has had numerous issues with their roommates (their lease is for a room within a townhome). Their lease is finally up in August of this year. Rather than go through with the eviction process, can I simply send them a notice of non-renewal of their lease, letting them know that I am choosing not to extend their lease beyond the current period? Is there anything they can do to fight this in court? Thanks!

I made an all cash purchase on an investment property in order to ensure that I'd get it. However, I'm wondering how long I have to wait in order to refinance? One lender told me 6 months, but I thought that only referred to if you bought with a mortgage? Does the same thing apply to an all cash transaction? 

Basically, I bought a place for $100K cash, and would like to take $75K out in a cash out refinance. Can I do that immediately after purchase? Thanks!