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All Forum Posts by: Elijah Berg

Elijah Berg has started 8 posts and replied 24 times.

i've also become a guest to the official real estate rookie podcast show episode # 465

check me out on their episode here!  

https://www.biggerpockets.com/blog/rookie-465

Quote from @Anderson Banegas Cerrato:

Elijah, this is pure fire, man! At 19, you’ve already mastered what most people spend years figuring out—turning determination into action and action into results. That 36% rent increase while keeping happy tenants shows how smart and intentional you are about building relationships, not just cash flow.

I’m grinding to get my first deal and seeing your story gets me hyped! How did it feel walking into that closing room, knowing you were about to own your first investment property? That’s a moment I can’t wait to create for myself

 Hi anderon!

Thank you so much for the praise as this hypes me up for my next purchase this year as a 20-year-old using my first brrrr and funds from my house hack HELOC to fund it!!!!

during my initial first purchase at the closing room, I knew I had to get over this nervous feeling if I wanted to do 40 more properties to build my real estate empire so it was really easy for me! though everyone at the closing could not believe that I was only 19 years old and buying their first duplex it made me feel really special and and good knowing I was performing better than anyone near my age group.

Quote from @Michael Carter:
Quote from @Elijah Berg:
Quote from @Michael Carter:
Quote from @Elijah Berg:
Quote from @Michael Carter:
Quote from @V.G Jason:

They're not happy tenants, they're stuck tenants. Don't confuse the two.

You're 19, good for you to getting involved but keep it trim. You don't want to broadcast this. 

yes they did! and soon realized that there was no aviable apartments in or around the same neighborhood for the price that they were looking for.

 if they wanted cheaper rent? move downtown into an apartment. If they Wanted to stay inside a duplex within class A+ neighborhood?
(in which they did)  

then pay the price, or another tennant will🤷

You made the claim that your tenants were now "happy" to pay a $400 rent increase. No, they're not and its naive of you to think that way. And like the first person said about how the tenants are more likely stuck than happy, you just proved that point. They're not stuck as in "there are no other options", they're stuck as in "there are cheaper, crappier options but we'd have to pack up our entire lives and deal with the other expenses/headaches that come with moving so I guess we might as well just suffer with the increase". 

There are landlords who are proud to own properties while offering their communities a nice and safe place to live (and enjoying the benefits of having someone else pay for your appreciating asset). And there are landlords who only care about maximizing profit and nothing else. I'm not saying you're one or the other, I don't even know you. But I do know our city needs a lot more of the first type. 

That’s absolutely great and wonderful for the investors who are in the position to stabilize that!!!

as of right now, I'm a 19 year old real estate investor with his first cash flowing duplex. 

As a result I must Study the market and know what i’m worth. I Offered it to them at 10% below market with him paying utilities. he wanted it, so I screened him to verify he can afford it. If he didn't want it or can't afford it, I would have reward him with 60 days time to find another place, then find a new tenant that can pay what it is worth….  Any other sympathy is unfortunately just Poor Business Practice.  


Thank you!!!


 "I would have reward him with 60 days time to find another place"

You need to reflect. 

you may think so, but other experienced investors think otherwise.

as you said "There are landlords who are proud to own properties while offering their communities a nice and safe place to live (and enjoying the benefits of having someone else pay for your appreciating asset). And there are landlords who only care about maximizing profit and nothing else. I'm not saying you're one or the other, I don't even know you. But I do know our city needs a lot more of the first type.

you clearly don't know me, which if I'm being quite honest with you has absolutely nothing to do with me. this is a property that is located in the village of Liverpool NY with a tenant paying beyond market rent,

" If he doesn't want it or can't afford it, reward him with 60 days time to find another place, then find a new tenant that can pay what it is worth. "
 
which I did, and he agreed to pay..................

as I've stated to you before anything other is simply poor business practice. thank you for your input 



Quote from @Michael Carter:
Quote from @Elijah Berg:
Quote from @Michael Carter:
Quote from @V.G Jason:

They're not happy tenants, they're stuck tenants. Don't confuse the two.

You're 19, good for you to getting involved but keep it trim. You don't want to broadcast this. 

yes they did! and soon realized that there was no aviable apartments in or around the same neighborhood for the price that they were looking for.

 if they wanted cheaper rent? move downtown into an apartment. If they Wanted to stay inside a duplex within class A+ neighborhood?
(in which they did)  

then pay the price, or another tennant will🤷

You made the claim that your tenants were now "happy" to pay a $400 rent increase. No, they're not and its naive of you to think that way. And like the first person said about how the tenants are more likely stuck than happy, you just proved that point. They're not stuck as in "there are no other options", they're stuck as in "there are cheaper, crappier options but we'd have to pack up our entire lives and deal with the other expenses/headaches that come with moving so I guess we might as well just suffer with the increase". 

There are landlords who are proud to own properties while offering their communities a nice and safe place to live (and enjoying the benefits of having someone else pay for your appreciating asset). And there are landlords who only care about maximizing profit and nothing else. I'm not saying you're one or the other, I don't even know you. But I do know our city needs a lot more of the first type. 

That’s absolutely great and wonderful for the investors who are in the position to stabilize that!!!

as of right now, I'm a 19 year old real estate investor with his first cash flowing duplex. 

As a result I must Study the market and know what i’m worth. I Offered it to them at 10% below market with him paying utilities. he wanted it, so I screened him to verify he can afford it. If he didn't want it or can't afford it, I would have reward him with 60 days time to find another place, then find a new tenant that can pay what it is worth….  Any other sympathy is unfortunately just Poor Business Practice.  


Thank you!!!

Quote from @Travis Timmons:

Two things are true at the same time. 

1. You're doing a great thing for your financial future. Raising rents to market levels is a big deal and hard to do. 

2. You lack the proper perspective. It would pi$$ me off to no end if a 19 year old came to talk to me with a binder telling me how good of a deal I am getting by seeing a 36% rent increase. A good thing happened to you and a bad thing happened to them. Full stop.

@Elijah Berg You're posting because you want an atta boy. So do I and the rest of us. I get that, and you're doing great. I see that it has been 3 months since the original post; how are things going?

Hi travis! Thank you for your response! 1- thank you for the congrats.

2-  For them or anyone older such as yourself, At the end of the day a “Perspective” is simply just a perspective, everyone will always have a different view. I may be 19 but that does not have any factor in how I efficiently operate my business, as you can see. Most of this help comes from Both of my mentors so yes I am grateful

3- tennacy is going great and sound! Ive also had the opportunity to be featured as a guest on the official Bigger Pockets Real Estate Rookie Podcast. Check it out! I posted the link or you can find it on BP Rookie #465

Quote from @Elijah Berg:
Quote from @Michael Carter:
Quote from @V.G Jason:

They're not happy tenants, they're stuck tenants. Don't confuse the two.

You're 19, good for you to getting involved but keep it trim. You don't want to broadcast this. 

yes they did! and soon realized that there was no aviable apartments in or around the same neighborhood for the price that they were looking for.

 if they wanted cheaper rent? move downtown into an apartment. If they Wanted to stay inside a duplex within class A+ neighborhood?
(in which they did)  

then pay the price, or another tennant will simple as that🤷
Quote from @Michael Carter:
Quote from @V.G Jason:

They're not happy tenants, they're stuck tenants. Don't confuse the two.

You're 19, good for you to getting involved but keep it trim. You don't want to broadcast this. 

yes they did! and soon realized that there was no aviable apartments in or around the same neighborhood for the price that they were looking for.

 if they wanted cheaper rent? move downtown into an apartment. If they Wanted to stay inside a duplex within class A+ neighborhood?
(in which they did)  

then pay the price, or another tennant will🤷

Post: Bigger Pockets Real Estate Rookie Show #465

Elijah BergPosted
  • Investor
  • Syracuse, NY
  • Posts 24
  • Votes 14

Hey everyone! I am happy to produce this new recording with Ashley Kehr and Tony Robinson on the Real Estate Rookie podcast! Huge thanks to the community for all the support as I am glad to give back!

Quote from @Nathan Gesner:
Quote from @Jacob Beran:

Hey everyone!

I currently have two tenants in a unit who pay separate utilities and rent under the same lease. One tenant is moving out, while the other is staying.

I have a few questions as the lease wraps up:


- How do you deal with the security deposit when one is staying and one is leaving? Do you roll the deposit over for the tenant that renewed? Or do you just return it to both?

-  How do you assess deductions for damage in a common area such as a kitchen? 

- Do you clean the entire unit after the one tenant moves out? Or just the common areas and their bedroom? 

Thanks in advance, I’d really appreciate the help!


 I have a written form and just fill in the blanks:

1. Who is leaving, who is staying;

2. Departing tenant gives up all rights and responsibilities to the property. They will turn over keys to me no later than 11:59PM on [DATE]. Security Deposit will remain with the Landlord. If any portion of the security deposit is owed to the departing tenant, they will obtain that from the remaining Tenant(s) prior to departure.

3. Remaining tenants agree to accept all responsibility for rent and the condition of the rental as of [DATE].

All parties sign and get a copy.


 Always a great help, thank you.

Quote from @Peter W.:

In my state (NY) you have to accept these sorts of requests unless you can find a valid reason not to. Everyone is entitled to sublet and a roommate. With that in mind I would run the roommate through background check and credit score.


 How do you combat this? such as after running through background and credit score would you have them sign an addendum to be apart of the lease?