All Forum Posts by: Lee Underhill

@Robert Biggerstaff. This tenant cane with the duplex when we purchased it and his rent is about 150 a month to cheap for one and he’s been an issue with keeping oil in the tank for the heat lol. I think that’s a great idea . I think we will write a letter looking to raise 150.00 a month if it’s month to month but if he signs a year lease we will do it for 100 month more. Thanks for your input

@Robert Biggerstaff. Z

I have a month to month tenant in our duplex and I was wondering to raise his rent do we leagally have to give him 30 days ? Do we put this in writing and have him sign it to go into effect ?

@Mike McCarthy. As always you guys on here are amazing with your helpful advice. Thank you

@Jon Arsenault thanks guys. We really appreciate the advice. We were not sure if we could put in the lease about keeping a minimum amount in the tank ?

This is our first rental property and having an issue with the one tenant keeping oil in the tank . They call us to say the furnace is not working but then we find out it’s because once again he has run it to low and wants someone to come out to look at it when we already know the issue is the low oil ? Do we have the right to charge the tenant the fee for a service call since it’s their responsibility to keep up with the oil?

@Jason Ericksen thank you jason. Always appreciate kind words and always looking for great advice on hear people are so eager to help one another on here .

@Moshe Aharoni. Thank you. Yes we purchased it in New Jersey. Small town close to us hackettstown

@DJ Cummins yes your totally right if I do a refi my cash flow will be down on this duplex but I actually did the numbers on the calculator before buying and even at their 150k asking price and a loan at 4.5 for 30 years I’ll have an estimated yearly cash flow of 5860.00 with a 14.9 % cash on cash return on investment . With a 172% cash on cash return after 5 years with a 3% appreciation figured in . And a $224.00 per door unit . We are very excited on the numbers being our first deal . We just want to do everything cautiously and correctly so we can move to number two lol

@DJ Cummins hi Dj thanks for your great advice. The goal is to get more properties and get some passive income to flow in for us so I can take it a little more easier on my full time business I’ve been in for over 25 years. It takes up way to much of my time to enjoy a better life with family and friends .