All Forum Posts by: Dean Savarino

@Brandon Halversen I just purchased a condo there. Initially I wanted to purchase a 4 unit which is nearly impossible to find. I did settle on a nice condo on the water that will rent out for 1800 weekly. I can still block out the time that I want to stay there. These properties in the keys really are not a true great investment. The cap rates are very low 4-6 cap rate.

Food for thought purchase a condo reasonable and rent it out. The appreciation is what long term will help. This is NOT a money maker by no means. Hope this helps

@Senia E Cuevas

I think first you need to look at all of the numbers. Get detailed info. You always build in credits so you do not have to bring that much to the table. This would have to be financed as a commercial property. What is the total net? 24k?

If you like let me know and I can help you with going over the numbers.

@Carl A.

I have the same situation. National tenant and other corporate tenants. We sent out letter stating what we would offer and also an addendum that they would sign us as beneficiary of any of there PPP that is related to rent.

All of these tenants are not helping themselves. We will asking for larger security deposits in the future. The smaller tenants mom and pop have paid or at least have attempted to pay something.

In summary you should give THEM 3 options. Have them choose one and if not they are in default. Not legal advice but if you are offering other ways to pay ie 1/3 rent per month or 1/2 something along those lines, when and if you go to court you can show that in good faith you attempted to assist. 90 days not to pay rent is a default on lease terms. Purchasing retail and having “national tenants” you are burned the worst with them 2008 and now. Mom and pop stores and business much better as tenants then the national tenants. My opinion and personal experience

How are you managing the requests from your RETAIL tenants when they tell you that cannot pay the rent and need to delay or work out a payment plan.  I am looking for a sample letter from landlord to tenant.  I have tenants that have stated they cannot pay the April rent and are looking to delay rent for a month or so.  I'm sure this will increase as days go by.  Any sample letters or communication with your tenants would be be greatly appreciated.

Looking to expand portfolio and interested in anyone who has successfully syndicated a deal.

Thank you

I use Quickbooks for my accounting however I am looking for a property management software program that will sync with Quickbooks.  Recently I tried Renttec but it does not sync with qb.  I lookingfor somehting that will handle 50 plus units.