All Forum Posts by: Jake Kozul

I have an overlap on one of my college rental homes, which apparently is pretty common in this market as the major universities there are on semesters and trimesters. The current tenant cannot leave until the 15th now due to there home not being ready, and now the incoming tenants were scheduled to move in the 1st, so they are delayed. This actually happened in my other unit, however the students co-inhabited for a month and it worked itself out. I own almost 40 units, and have never had this come up before. Any suggestions, ideas, possible repercussions? 

I recently purchased a college rental right next to two decent sized universities. One I marketed back in February and found tenants almost immediately for next Fall. My other home, which did not re-lease, I started marketing a week ago did not, and now I am trying to market the home. What is the typical time frame one would want to start marketing for Fall of 2016? 

That's what I was leaning towards...have a text of an offer (unsolicited) and a witness. Thanks. 

I have a tenant that lives in one of my units that did some lawn care work for me, which went fine. He ran into some financial trouble recently, and now is saying since the property rental cert wasn't updated (in my market, even if you have a valid certification, you need to update it upon purchase) although I have the existing cert to 2017. Point is, he told me he's entitled to all of the back rent (which he is not) and that he would settle on the spot if I signed a form saying I would pay him an amount and in return, he wouldn't "make this public". The place is in good shape, so I paying some civil fines is not a big deal. My overall question; Is this extortion? I have never been extorted before, but my attorney is saying this is a pretty clear cut case. Has anyone had any experience on this front? 

I have recently been set up (through friends and colleagues) with some investors that want me to invest their money in various types of investment properties. I am comfortable in working with them to build a strong portfolio of homes and projects, however, I haven't had a chance to figure out what is fair regarding compensation for both the long term holds and flips. I am not mixing funds with my own, these are stand alone projects I am lending my expertise to. What is considered a fair arrangement in a scenario such as what I am describing? 

Thanks in advance,

Jake

Thanks Larry and Roy,

Quick question on both of those models...does the unit need to be on the tenants wifi network in order to connect and control it? 

Thanks for the responses

I have two of my homes that are configured so I am responsible for utilities. Is there any thermostat I can purchase that is lockable or I can program to keep the temperature within a certain range? 

I have a friend who referred a colleague to me to invest some money for him in local real estate. He is putting up the money, and I am doing the legwork whether it be flipping or renting. I have only worked on my own deals to this point, so the question is what is a fair split for a passive investor in a case such as this. 

Thanks,

Jake

I am working with a lender to do a cash out on my free and clear properties, for the purpose of expanding my business and purchasing more. There are some contingencies in the current loan I am considering such as prepayment and reconfiguring some of my LLC (which is pretty standard as it is single member). I have a very strong level of cash flow, good properties and a strong background in real estate. Credit score isn't terrible, perfect payment history other than some old student loans. While I am considering some hard/private money institutions, I have not really explored if how someone who wants to place their money and make 7-9% secured may view it. I would be curious is there is anyone who either invests in securitized private real estate or has obtained financing like that themselves who's brain I can pick.

Thanks

Thanks again for the insight....I don't take garbage men's calculations very seriously anyhow....this is very helpful in evaluating my 8 unit...the current owner is getting killed by expenses so trying to see how much I can improve things if I buy it.