All Forum Posts by: Geoffrey Morales

@Hadar Orkibi

Thanks you, great to get another point of viwe

Thanks Greg! I am still cash flowing, so i should be grateful for that. 

Now with the virus will underway , I won’t raise rent but I still need to do it. Do you think there will be a time to do it this year or is this year a wash and just raise rents next year.

Looking to do owner finance, is there a standard for down payment 10% 20% 0%?

My property is in Pennsylvania. From the information I have gathered the long term tenants are really good and do not require a lot of attention. 

Currently I am at an 8% cap rate with the current rents. Market rents for the 2 units would raise the cap rate to 10%

@Mike McCarthy

Thanks Mike ! Good advice. Seems communication with tenants is key here.

I just took ownership of a Multiplex with 4 units. I have two long term (6 years and 12 years) tenants are on a month to month lease, one tenant that just signed a lease agreement in November and another tentant that is on their 6th month of their year lease. 

The question is do I honor the leases agreements from the prior owner? 

For the month to month tenants do I put them into a new year lease aggreement?

All rents are below market value, when and to which tenants can I raise rents ? 

Would it be better to have a general contractor or just coordinate the sub contractors yourself?

@Doran Summers ok thank you!

I am just getting started, I would like to know how much liquidity do I need prior to contacting a hard money lender for a deal?