All Forum Posts by: Jared Skov

Current rents are $1000/side. Comps are renting for $1300-$1400. Carpet will need to be replaced for sure. Vacancy is less than 1% in the Seattle area, it’s tough to find anything to rent. I️ guess the biggest question is if we want to risk losing good tenants who treat the property like their own and pay on time for tenants who could be the exact opposite. I️ don’t want to be chicken little and play the what if game, but I️ also like the idea of decent cash flow with good tenants vs great cash flow for the unknown...

Hey guys, my wife and I️ recently purchased a duplex with 25% down. The owner we bought from is older and needing money for health issues, so she’s liquidating all her assets. Unit A tenant has been there for 7 years and has never missed a payment, Unit B tenant has been there for 16 years and never missed a payment. We are cash flow positive $250/mo, but rent could be raised $200 per side to match comps. Do we risk driving out good tenants right out of the gates for an extra $4800/yr? Maybe increase $50 per side or wait a year to increase? We’re their new landlords, so they probably expect some sort of increase right? Any suggestions are much appreciated. Thanks!

How long do you plan on keeping the property? If you plan on keeping the property and depreciating over 27.5yrs, if you're making $200/side in the beginning, it may be a great long term investment. In 15 years, rent could be 30%+ higher than what it is now...