All Forum Posts by: Justin Brin

How often you will raise rent for you tenant and how much?

If you have a good tenant will you raise his rent if the market rent went up?

Will you raise his rent to market rent or keep it below market rent to incentive him to stay?

Hi @Elionay Imbert, Here in Los Angeles they are very popular. Some will rent the main house to one party and the ADU to a second party and get x1.5 or x2 the rent. I never did it but I know is very popular here. This way you can increase your cashflow and make sure you are cashflow positive. For areas with high demand if you make a nice ADU you can easily rent the main house in the ADU.

Hi @Jared Fisher as mentioned above I will reach out to the inspection and send him the reports and ask for an explanation. The minimum is to ask for a refund of the inspection cost if the damage is serious.

I personally will only hire an inspector that has proven experience as a contractor in the area, this way you know that he knows what to look for.

Maybe that inspector was just starting and didn't have much experience.

Yelp should also have rating on inspectors? Can Yelp help you?

As mentioned above asking other investors with more experience who they use is also a great idea.

Hi @Stacey LaBarge,

It's a starting point but you will need to add data about demographics, income, economy strength. In many cases there are a higher rent/sale ratio with areas with higher risk.

Here is a list of some popular investor locations:

Dallas, Texas
Houston, Texas
Phoenix, Arizona,
St. Louis, Missouri
Charlotte, North Carolina
Austin, Texas
Cincinnati, Ohio
Kansas City, Missouri
Columbus, Ohio,
Indianapolis, Indiana
Nashville, Tennessee
Jacksonville, Florida
Oklahoma City, Oklahoma
Louisville, Kentucky
Memphis, Tennessee
Tucson, Arizona

Hi @Madylen Barberan,

I have a few friends that had section 8 tenants in Los Angeles and didn't have such a good experience but I guess it doesn't mean all section 8 tenants are not good.

It might be depending on how your rental looks. If it looks good and in a good area I might try to look for a regular tenant but if the rental unit is not the best looking and not in the best area it might be a good idea to get a section 8 tenant for it.

Usually section 8 tenants are lower income people so it might lower the street income level of the area and might cause a reduce value to your property and your area.

Higher quality tenants can help increase values of your area.

If it's a really good section 8 tenant it might not be a big issue.