All Forum Posts by: Chris Herrera

@Eric Johnson just remember they’re apart of your team. If you are happy with their work and the job they’re doing then you want to make sure you’re properly compensating the people that help you grow your business.

If you start trying to nickel and dime the people on your team then it eventually catches up to you one way or another by not getting the help you expected or running into problems/headaches that you have to deal with

@Jeyo Punnakottil it depends on the area. If it’s in a C or lower area then a lot of people do around here in case anything happens outside of the property for multi family buildings

@Matthew Paul I wouldn’t overthink this. You’re following the lease and they’re clearly trying to get everything back even though they suddenly decided to leave.

Follow your systems and return the deposit as you would any other tenant after repairs

@Anthony Bednarek hang in there, you’ll get something eventually as long as you don’t quit. My advice would be to try to find off market deals if you’re willing to put in the time, otherwise keep at it!

@Kwab Mireku you just have to empathize with them and let them be heard. You can’t always do something when it comes to noise complaints if it’s within daytime hours so just hear them out so they can let out their frustrations

@Caleb Smith don’t try to nickel and dime tenants especially when it comes to safety. It helped your building overall so just absorb the cost so you don’t cause any issues

@Red Peterson the numbers seem tight for a 15 year so if you’re looking at just cash flow the 30 year makes sense as others have said. If you’re happy with the cash flow with where it is now and know that you’ll need a lot of capital when it comes to renovating it then it’s a personal preference at that point.

If you have the money, it’s cash flow positive and in an area you like then I wouldn’t be afraid to move forward so you can get the experience at least.

@Yashar Fred sign documents before hand with a notary and have the realtor pickup the keys and you’re all set, congrats!

@Jose Rodriguez there are two main downsides

1-You can pass the utility bills on to the tenants easily

2-if there is any maintenance needed, it will effect all the units vs just one

@Qina Cai as many have said, make sure the tenants are rock solid. If they’re responsible they’ll likely be responsible pet owners.

Charging monthly rent is also great since if they stay longer than a year then that little extra fee will continually add up to help on repairs if there are any