All Forum Posts by: Juan Sierra

I'm looking at a similar situation.  It is a long-standing and good tenant but she is aware that once the property is purchased her rent will be going up gradually over the coming year so that she has the chance to adjust.  For example, I am considering increasing the rent $50 quarterly over the next 12 months so that a year from now it's closer to market rent.  It might be that she starts to look around for other options and eventually decides that the increase is affordable to her given the options.  If she does move, it will give me the chance to just adjust the rent to full market levels.

I am told that she has taken decent care of the place over the years so I am hoping that it works out for her.

Good luck!

 Charles, you are absolutely right.  I used "passive" too broadly.  I would imagine frequent touch point calls with the PM.

Hi folks.

I am looking to acquire a 2-family home in the Amsterdam, NY area and I am considering using a property manager so that this is truly a passive investment.  Any recommendations, or warnings about which PM(s) to avoid?

Thanks!

I have an unexpected and unique opportunity to acquire an off-market 5-unit multi-family home (commercial).  I am exploring seller financing but have some questions:  who takes care of all the services that lenders generally perform (title searches, flood certification, appraisal request, etc?

I believe in NY you need to use an attorney when acquiring real estate. Maybe that is who requests all these services?