All Forum Posts by: Kim Younkin

Hey, @Lincoln Tudor. There's a guy here on BP I've seen a lot lately who has a company that does that. You might want to look at his website or check out his posts here (if he has any other than his advertising posts) and see if you can find any good info. His name is Jerry Holt. He posts ads in the marketplace about getting probate and distressed seller leads. :) 

Hi, @Alex Cottman -- check your local legal bar association…they will sometimes have a sample lease landlords can use that incorporates the laws of your state. Good luck!

Welcome, @Barbara Housewright. My in-laws rent every year in Estero during the winter. Love that area as a whole. Good luck, and be sure to read up here about becoming a buy & hold investors. Lots of great resources on the site!

Hi, @Sharon Seiter, and welcome to BP! I thought I would let you know about the local REIA group, where you can go for a free meeting and decide whether you want to join for a year. It's at www.centralohioreia.com, also called COREE. It's a good group -- they provide a lot of good content for new investors and those looking to soak up a lot of research info, plus, you'll find good networking opportunities. They have one main meeting and three subgroup meetings each month. There's also an investor here in Columbus who hosts monthly meet ups at Tommy's Pizza on 161 in Dublin. He might pipe in on this thread and give you the next meeting's info. Good luck and give us a call if we can ever help answer buy & hold investing questions for you. Cheers!

Hey, @William Collins..you might have already done this, but try posting this in the local forum for your area. Go under Community, Forum Categories, Local Real Estate, Local Networking, and then there's a forum for Michigan. Welcome to BP!

Hi, @Tony Gallina, we can relate. We manage properties in an area of town that's both old and new-hip, and some landlords have never increased rent for their tenants even as the market has supported it. So we've seen investors come in and buy multifamily properties using market rents to crunch their numbers, and are sometimes faced with this issue when there are older, fixed-income tenants in place. 

It depends on who you are as a person and a property manager, but our take is that we wouldn't do a one-time significant rent increase for those tenants. It would have to be gradual. In terms of a general rent increase, we've found that most tenants won't bat an eye at a yearly $25/mo rent increase, but at $50 they do. We'd communicate with the tenants that a greater-than-normal yearly increase is coming, and tell them why.

At some point though there's the consideration of what the tenant's getting in return for an increase of a few hundred dollars a month over a few years. In the area I'm talking about, a lot of the units are very old, and we'd have a hard time justifying such a rate increase without updating the unit for them, or providing other amenities. Good luck!

Hey, @Atish D. 

If you call Bob, tell him @David Panzera sent you. I can't post the number here but PM me if you can't find it on google.Best of luck!

You're welcome, @Rohan J. Actually, when I saw this thread we were busy writing a blog for our owner, David Panzera's blog here on BP. Here's a link to it if you'd like to learn why we like Columbus: https://www.biggerpockets.com/blogs/7712/51597-sho....

@Lou Milard, we'd love to talk with you if you're putting a team together, help you answer any questions you might have about the market.

Best,

Kim

Welcome, @Mike Stevens! Great to take your future into your own hands, isn't it? Good luck and reach out if you have questions. Cheers.

You're welcome!