All Forum Posts by: John Gillis

Thanks, Joel and Joe, for your advice.

They were able to move back in and got a credit off next months rent for the days they were out - so everything worked out OK.

My daughter and her boyfriend had to suddenly move out of their apartment because of a fire in the unit directly above them. The fire was quickly extinguished, but the fire sprinklers came on and caused water damage in their apartment. The apt manager told them they would have to leave until they could repair the water damage, and offered to reimburse them $120 per night, for a hotel room for the first 2 nights. That was 6 nights ago, and the manager said they could not pay for the hotel any more than 2 nights. As a result, after the first 2 nights, they have been staying with a friend, at a big inconvenience.

The latest word from the apt manager is that they think their apt will be ready to move back into 2 more days from now.

Shouldn't the apt complex management compensate them for each and every night they are out of their apt ?

Aren't they entitled to some type of "inconvenience fee" ?

Do they need to call a lawyer ?

If you were willing, and able to relocate to anywhere in the US, in order to purchase and manage, positive cash flow, residential income properties ( fourplex, duplex, and/or SFH ), what area would you choose, and why ?

Can anyone reccomend a good website for searching for residential income, multi family properties ?

2 to 4 units and 5 units and more is what I am looking for, and the areas are California, Las Vegas, and Phoenix.

I have found a potential partner to purchase a triplex with, and looking for ways to write up our partnership agreement. We will agree to go 50 /50 on the closing costs and all other expenses, like mortgage, taxes, insurance, etc.

He is a first time buyer, and a Vet, so he will be getting a VA purchase loan. So no down payment is required, and he does plan to occupy one unit of the triplex. The other 2 units will be rented out at regular rental rates.

My name will not go on the mortgage, but I would like it to go on title.

Can we add my name to title after close of escrow ?

Do we need to wait until the close of escrow before adding my name to title ?

Are there partnership agreement forms available for this, or do we need to make our own ?

Is there a good thing to add to our agreement if one of us wants to exit the partnership ?

Hello everyone - I am John, and I hope I can give something back to this website, as I already learned alot from reading all the postings. I am interested in learning how to invest in real estate for positive cash flow.