All Forum Posts by: Harish V.

Whats the latest on Grocapitus ? Is there still any steam left in the company or is just another marketing gimmick..like Morris Invest. Google Morris Invest and you will be shocked.

UnlikeMorris, i do believe they are trying. But i will never invest with them. I can accept a lower return but meeting some time commitments and returm commitments is paramount. Chance of deal success needs to be high- 95%+. I am not buying lottery, i am investing.

1 Vote

Quote from @Jay Hinrichs:

Quote from @Account Closed:

Thank you @Jay Hinrichs.

After some searching I found this which doesn't speak highly of them: https://www.biggerpockets.com/...

two sides to every story of course I dont know them .. just remembered the name.. I met the owner at a J. Martin Event in Oakland I was speaking at.. Brian Burke was there as well.

I will not make the same mistake again. If others have different experience that's fine, but i will not brake it again.

0 Votes

San Francisco, California

Quote from @Kessy Similien:

Ah I can't edit my post I should have put my score there. It's around 718 last I checked.

Yea it's a condo.

Do you think buying points might make sense here?

I never buy points. Takes time to recover. I would much rather take higher rate and take credit. Make sure there is no refinance restriction for 6 months.

0 Votes

Honolulu, Hawaii

Quote from @Eliott Elias:

Can’t speak for every market, here in Austin we went from .6 months of inventory to 4 months. Which is technically still a sellers market

That has changed fast. Looks like buyers strike to me, anticipating lower prices. I still see loan options in 4s so not sure why market should change so much.

1 Vote

It's very strange they wrote such specific letter. Bank only needs to care that you do not take additional debt and should ask for that " I don't have plans to take additional debt, bla bla".

I don't they prevented you from taking a vacation that costed similar amount or buy any other electric/luxury car. Don't make sense. I think you argue many ways, that your situation changed if you bought car,.

0 Votes

Let Tenant know offer expires 7 days after presenting and is subject to change. Increase offer by 100$ each week.

4 weeks before lease end. Say no more offer.

0 Votes

Quote from @Kar Sun:

Quote from @Harish V.:

Quote from @Kar Sun:

I have a tenant that pays on time and keeps place clean.

I also offer him a desirable place to live that is being taken care of.

To me nice tenant is not the one who expects me to subsidize their rent.

I provide a service and a roof and that is why I have responsible tenants that I chose to have a professional relationship with.

The place has lot of very desirable amenities and has a great location..

He has been with me for 3 years and I have only raised rent $125 in all these years and last year there was no rate increase.

However, things have changed.

I have expenses, taxes and other costs that must be covered as otherwise I will be in negative..

Also, there is a lot of demand.

I sent a very nice letter to a tenant stating the data and a comparison rate with the market properties.

In my market rental properties went up 124%.

The hike is $400.

Small apartments in my area go for the same as my discounted rate for him.

But the place is spacious and is a townhouse.

He is highly unhappy.

He calls it is a money grab.

He is saying that he is under duress if he decides to stay as summer is a busy season for him.

Well, the contract ends end of summer and the rate increase letter went out prior to that.

There is no rent control in my state.

And in my state I do not even have to send rent increase letters.

This tenant makes 300K in income.

I have been nice responding to his texts but it makes me think if I actually want to keep dealing with him.

He states that my property is not worth the increase.

Well, my property is in such a location and condition that it is difficult to find anything similar.

It is also a business.

Any one wants to share a relevant experience?

Please do not bother to send me points on how to write letters to tenants; mine was very much to a point with all the data, comparison photos, prices....

I just think if as a business person himself he does not value my business why should I renew the contract especially now he says he is under duress.

If you want to be nice explain tax and inflation are causing this, so they can vote correctly when parcel tax and other measures appear on ballot.

Although you do not need to tell them anything, just provide option and let them decide. The said person is making 300k/yr as per you, so is very aware of increases in pay and inflation and is probably enjoying the benefits or higher pay. You should not help them at your expense. If tomorrow rents fall or you are in trouble, they will not pay extra. You cannot make up lost time.

And people voting for higher taxes and inflation should be reminded of negative effects too.

Thank you. I actually sent him letter with a clear explanation of reasons, provided market data and photos of properties for rent, prepared a spreadsheet with the amenities for the comparable properties and included a form to return. All properties that I listed for him that were comparable and were available 2 weeks ago have already been rented. He just does not want to pay.

Then he has to move. Sorry but you should not be working to increase his savings.

2 Votes

Quote from @Kar Sun:

Quote from @Harish V.:

Quote from @Kar Sun:

I have a tenant that pays on time and keeps place clean.

I also offer him a desirable place to live that is being taken care of.

To me nice tenant is not the one who expects me to subsidize their rent.

I provide a service and a roof and that is why I have responsible tenants that I chose to have a professional relationship with.

The place has lot of very desirable amenities and has a great location..

He has been with me for 3 years and I have only raised rent $125 in all these years and last year there was no rate increase.

However, things have changed.

I have expenses, taxes and other costs that must be covered as otherwise I will be in negative..

Also, there is a lot of demand.

I sent a very nice letter to a tenant stating the data and a comparison rate with the market properties.

In my market rental properties went up 124%.

The hike is $400.

Small apartments in my area go for the same as my discounted rate for him.

But the place is spacious and is a townhouse.

He is highly unhappy.

He calls it is a money grab.

He is saying that he is under duress if he decides to stay as summer is a busy season for him.

Well, the contract ends end of summer and the rate increase letter went out prior to that.

There is no rent control in my state.

And in my state I do not even have to send rent increase letters.

This tenant makes 300K in income.

I have been nice responding to his texts but it makes me think if I actually want to keep dealing with him.

He states that my property is not worth the increase.

Well, my property is in such a location and condition that it is difficult to find anything similar.

It is also a business.

Any one wants to share a relevant experience?

Please do not bother to send me points on how to write letters to tenants; mine was very much to a point with all the data, comparison photos, prices....

I just think if as a business person himself he does not value my business why should I renew the contract especially now he says he is under duress.

Then he has to move. Sorry but you should not be working to increase his savings.

2 Votes

Quote from @Kar Sun:

I have a tenant that pays on time and keeps place clean.

I also offer him a desirable place to live that is being taken care of.

To me nice tenant is not the one who expects me to subsidize their rent.

I provide a service and a roof and that is why I have responsible tenants that I chose to have a professional relationship with.

The place has lot of very desirable amenities and has a great location..

He has been with me for 3 years and I have only raised rent $125 in all these years and last year there was no rate increase.

However, things have changed.

I have expenses, taxes and other costs that must be covered as otherwise I will be in negative..

Also, there is a lot of demand.

I sent a very nice letter to a tenant stating the data and a comparison rate with the market properties.

In my market rental properties went up 124%.

The hike is $400.

Small apartments in my area go for the same as my discounted rate for him.

But the place is spacious and is a townhouse.

He is highly unhappy.

He calls it is a money grab.

He is saying that he is under duress if he decides to stay as summer is a busy season for him.

Well, the contract ends end of summer and the rate increase letter went out prior to that.

There is no rent control in my state.

And in my state I do not even have to send rent increase letters.

This tenant makes 300K in income.

I have been nice responding to his texts but it makes me think if I actually want to keep dealing with him.

He states that my property is not worth the increase.

Well, my property is in such a location and condition that it is difficult to find anything similar.

It is also a business.

Any one wants to share a relevant experience?

Please do not bother to send me points on how to write letters to tenants; mine was very much to a point with all the data, comparison photos, prices....

I just think if as a business person himself he does not value my business why should I renew the contract especially now he says he is under duress.

2 Votes

Quote from @Zachary Inman:

Cash flow is something you can control, appreciation is picking a good market and hoping for the best. If the deal is negative, then you greatly increase your chances of it going sideways.

You cannot retire on appreciation and no cash flow. You can retire on good cash flow and no appreciation. That should answer the question.

4 Votes

Allentown, Pennsylvania

All Forum Posts by: Harish V.

Harish V. has started 3 posts and replied 183 times.

Post: Grocapitus - Anyone have experience with them?

Post: Recommended Real Estate Syndications with Bay Area Office?

Post: My lender is quoting me 6.75% interest rate?!

Post: Buyers or Sellers Market

Post: Does last-minute addendum to closing paperwork have any force?

Post: Tenant is unhappy with the rent increase

Post: Tenant is unhappy with the rent increase

Post: Tenant is unhappy with the rent increase

Post: Tenant is unhappy with the rent increase

Post: Negative cash flow rental