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All Forum Posts by: Kumar Gaurav

Kumar Gaurav has started 94 posts and replied 255 times.

@Taylor L.

I priced the rent comparably.The demand is somewhat low mostly due to Corona impact. The tenant is an acquaintance, I am just trying to assess the risk of having a portable dish washer.

Hello,

I am vetting tenants to fill in a vacant apartment that has no dish washer.

I am impressed with a particular tenant's profile who has been pushing me for a dishwasher and he is even willing to bring in a portable dishwasher.

There are few limitations I have in terms of space and don't want to mess around with plumbing system.

I just want to know if it's okay to have a portable dishwasher and if there are any issues that I need to be aware of having a portable dishwasher.Appreciate your feedback.

Thanks

Hello,

I would like to know how is Charlotte ,NC for multi-family investing? or if it's mostly good for single family investing. Appreciate your feedback.

Thanks

@Nina Granberry

Thank you so much everyone for your valuable feedback.I will explore out of state. There is also a triplex in the same locality where everything scales almost three times both the sale price,PITI and rental income.Wondering how it would be as a owner occupied multi family home.

Thanks

Hello,

I am looking at a condo apartment it's a 3bed 2bath in our neighborhood and it's priced at $250,000.PITI is coming around $1400 when I do a 20% down payment and it's having a rental potential of $2000. The drivers for me are it's behind my backyard so I can manage it easily personally and there is room for appreciation in the near future and I am somewhat hesitant about long distance investing. Appreciate your feedback.

Thanks.

Hello,

I am getting close to three years (about 4 months short) of owning my owner occupied multi-family. I now have a choice to move out and convert this triplex into a purely rental property or continue living here as a owner occupied landlord. I just want to know what approach would give me a better benefit from a tax and investment standpoint.

Thanks

Hello,

I just wanted to know if it's a good idea to post a pseudo ad to gauge rental demand as well vett prospective future tenants?Raising rent has been long due with my current tenants

and I am afraid raising rent now will probably make them want to move or they may as well accept it. I just want to keep the ball rolling for prospective tenants before I propose a raise

since in this pandemic situation it may probably take longer than usual to find another tenant.Appreciate your feedback.

Thanks

@Patrick M.

I second your statement hubris of an investor and it did sound like that to me when I first read it though it may not have been the intent.

@Basit Siddiqi

Thanks.I can figure out the specifics of how to setup an LLC properly,all I am just trying to understand is it even worth in my scenario to transfer my property to an LLC. I own just one multi family it's an owner occupied triplex and mortgage is in my name.The only advantage I see is the rates are lower and a refinance with transfer to an LLC may give me a small advantage on the interest I pay but are there any other advantages?

@Lance Lvovsky

I am just trying to better understand why is an LLC so much touted for it's asset protection?

where are the benefits owning a property individually vs LLC.

If an individual buys a property in his name first (as opposed to an LLC) there are hardly any benefits to make that shift to an LLC?

I don't have the due on sale clause in my contract with the bank by the way.