All Forum Posts by: Gustavo Vargas

Hi Daniel,  I am an investor in Tyler also.  Looking to do the same. Currently have a couple of properties.  let me know if i can be of any help. 

Howard, thank you very much for your reply.   I was thinking 1% per year as that is what I am getting for a cell tower lease but it was really just based of that and not any other experience in the commercial arena.  Thank you

Hello all,  I need some advice suggestions.  I have a 10,000 sq ft building that is I was going to develop into  mini strip mall, but i have a prospective tenant wanting to lease the whole thing. Assuming we agree on price and terms, what is a common or customary rent increase per term?  per year?  I am giving him a very low rent as he will be doing al the improvements on the property but after the first term or a couple years i want the rent to increase.  Also, in case of offering a right of first refusal clause how do you price the builidng after he has done the improvements but i have taken a low rent for a few years in order to have a fair but adequate price for both.  I am not very interested in selling the property but for the right price,  I will entrain the offer.  thanks in advance and appreciate your input. 

I have a PO Box that i used for that purpose and any other business mail but since converting to ACH i am not sure when its the last time I went by the post office.  There are quite a few solutions out there so that even the most tech challenged person can pay electronically. I would definatley not go back to snail mail/checks again.  You can offer an incentive such a discount on rent if the pay online or via bank draft. Maybe  $25. tenants like the convience and they also feel like they are getting a deal.  Once they get used to it they will never want to write a check again.  

I would do asap.  if the rent is late and not received my midnight theday of due date they get an email and text that the rent is late and a charge has been applied.  after doing this a few times and following through with a phone call asap in the am now i virtually have not late payers at all.  I have also set up online payment and make it so that check/snail mail pay is more expensive,  ie.  i tell them i give them a discount on the rent if paid online ( I base my income in  online payments anyway).  They think the are getting a deal and sure enough now nobody pays with check and therefore i dont have to go to PO Box at all anymore and i can check on payments from my phone and email.  

Hello all,  I have a few rentals and i been trying to train the tenants upon move in/out so that the process is as smooth as possible specially on move out.   This merely because as i am sure most of you have experiece tenants tend to want to leave the properties dirty and always seem to balk at the deductions on the deposits.   I have now created a small letter that I attach to the lease and will have my tenant sign along with the lease so that upon they giving notice i can remind them of the "instruction letter".  Do you guys have anything like this or have any other suggestions?  Thanks

Hello everyone.  I been  wanting to look into buyng a larger multifamily, maybe 50+  doors.   unfourttunately there seems to be very small suply.   I have looked the usual sites like loonet, etc.   I found ARA which offers lots of larger multifamily offerings.  not having done larger deals like that it seems to me that most of those offering are already priced above the where an investor can actually make money.   Looking for input from some of the guys on here who have done those larger deals.   i realize that everydeal woudl have to go through due diligence and that everything is up for negotiation but i have this idea that if the offerings were good enough they would be bough and sold without much marketing from some of this larger firms.  Thanks for any input.  

Hey Henry, I am sort on the same situation as Mark and really would like to protect myself a little better. would you mind sharing the infor about the trust vs llc with me? thanks

Hey Mark Congrats! Quick question on the LLC, Having each property on an LLC does that mean you keep a separate banking account for each? and the paperwork for each kind of overwhelming?

I have located a property that I think has great potential and will be sold at the courthouse. I drove by the property and looks like there is people living there. The little bit of research i Have been able to do says that it is my responsibility to either rent or evict the tenants. Has anyone done this? any pointers on buying a property like this? I need to find out as much as possible as i am pretty sure this is a great property. Please advise, and thank you in advance for any info.