All Forum Posts by: Gannon Beebe

A little background on my situation.  I own a condo in San Diego that has two tenants who meet my rental requirements together but not separately.  They are on a month to month term now.  The financially stronger tenant has found a better job out of state and submitted her 30 day notice.  The other tenant would like to stay if possible. I am in the process of sourcing another tenant however the rent needs to be increased. I am currently 12% below market value.  These tenants have been consistent tenants in my condo for the last 2+ years.  I chose not to increase rent due to COVID, not knowing if I would put myself in a bind with having a vacancy problem.  I will admit I was complacent on finding out if there were new restrictions or caps on the amount you can legally increase rent with the new regulations on rent control since I did not plan on increasing it. Does anyone know the maximum I can increase rent? 

My other option is to notify my remaining tenant that I will not be renewing his lease and then I can set my new rent at market value for a new tenant.  Since he has been there over a year I am required to give him a 60 day notice correct?

If any one can help I would greatly appreciate.  Thank you in advance.
   

Hey Alex and all on this post, I’m hosting a meet and greet tomorrow at Luigi’s Pizzaria in Golden Hill. If you’re able to make it you’re all more than welcome for some good pizza and beer. Kaffee Meister is an awesome spot. When is your meet up? -Gannon

@StevieAnn Nance I totally agree. Reading about all this is cool but I really just want to get out there and get after it.  See you Friday

San Diego RE Investors and Investors to be,

I will be hosting a meetup at Luigi’s Pizzeria in Golden Hill.  This is an informal, no pressure event with the goal of finding other people that are likeminded and driven. If all goes well, I would like to make this a regular thing. Great pizza and beer are readily available. Hope to see you there.

-Gannon

Hey BP,

My name is Gannon and I am a new member to Bigger Pockets.  I've had a strong desire to get into the real estate game for a few years now and started by purchasing my own home 2 years ago.  I learned the hard way that I didn't analyze the deal as well as I thought I had.  I wish I had stumbled onto bigger pockets back then.  My hopes were to house hack and eventually rent out in full which I will still do but I will have a $200 negative cash flow for a few more years if I do this.  Nevertheless, I want to get back out there and do it right this time.  My business partner and friend are looking to buy and hold single family homes, possibly multiplexes, in the Memphis area. If anyone is able to point me in the right direction to help network with individuals in that area I would greatly appreciate it.  The ultimate goal is to make 8k per month, be financial free, travel, live life, provide for myself and eventually my family.  I can't wait to get after it and meet as many of you as I can.

-Gannon