All Forum Posts by: Jimmy Rivera

i would rather deal with people i dont personally know.  i feel house hacking a four bedroom is similar to having 4 tenants.  i would suggest the small multifamily.  good luck to you.

a ton of varying opinions and suggestions.  i appreciate all of them.  many, i hadn't thought of myself.  i bought this 4 unit so cheap that on a flip (with no additonal work) i may profit over 100k.  this too is another option i am entertaining.

thank you all for your thoughts.

Phenomenal responses.  So many great tips for me to consider.  Thank you all.

Well said ms jennifer t.  Thank you for your grest response.

Well said ms jennifer t.  Thank you for your grest response.

@bjorn ahlblad @david wandel  these are both great options.  thank you for your feedback.  i got a great deal on the property.  my best deal ever actually.  the building does cashflow at current rents.  a long term tenant is always a good thing.

a question of morality.  i need to rehab my 4 unit but i've inherited 2 long term tenants (senior citizens).  there rents are way below market and i'm not sure how to ask them to leave.  one guy is in his 90's and the other in his 70's.  they are both on fixed incomes and the increase in rent will definitely shock them.  the building is in need of repair and i'm in need of a refinance soon after rehab.  any thoughts?  

i have not used naca.  i opted to buy a sfr at auction.  i got a great deal in chicago.  i finished the rehab and it cost me 30k.  all in for 53k.  the property is now worth 130k.  im using the brrrr method and will cash out soon.  

i agree with will fraser.  not sure where in florida you want to invest, but in miami you won't get much for 1 million dollars.  value add 6 units are selling for around 200k per door.

Im approved for a multi unit purchase. Looking to connect with a naca approved real estate agent in chicago.