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