All Forum Posts by: Marie C. SaintVil

 @Allan C. Yes, I was thinking the same thing about keeping them MTM, thank you. 500/mo increase represents almost 50% for most of the units :(.

 Thanks @Eliott Elias! I will keep that in mind as I move forward.

Thanks @Joe Villeneuve!! I see what you're saying. If I didn't raise rents, there wouldn't be any cash flow. I'd be breaking even.

I have a 5 plex I'm closing on in GA. The current rents are below market rents. To get it up to the market, I would have to increase rents by about $500/month on each unit. 1 unit is in poor condition and is MTM so I'd like to give the tenant a non-renewal so I can redo the entire unit and raise the rent to market with the new tenant. However, I'm not sure how I should go about raising rents with the remaining units (1 unit is in great condition, and the other 3 are in ok condition). I would like to retain (if possible) the others so I can continue collecting some rent while I'm making changes to bring them all to market. BTW, all the other unit's leases expire in 3 months and according to the current lease, I have the right to increase rents within the lease period with 60-day notice.

@ashish acharya Thanks. Would a local attorney be the correct professional to speak with? 

@Carl 

@Carl Fischerundefined Thank you for your response and understand one size doesn't fit all. I'll dive deeper into both.  

I'm thinking about creating a trust to place investment properties in. Besides, my personal property, I currently own 1 investment property and working on acquiring a duplex before November. I'm considering creating a trust for 2 reasons:
1. Asset protection (i.e. if someone tries to sue me) 
2. Eventually, pass on all my assets to my heir without the probate process
Is a trust the best route to go or should I just create an LLC??

@Joseph Cornwell WOW!?!! This is so encouraging for me to keep going! CONGRATS on your success! Pray for continued success to you and everyone else put in the effort.

Thank you @Brandon Higdon and @Waverly Rennie!! I appreciate the knowledge shared!!!

I'm buying a duplex in a great rental area. The cash flow on it is great. My only concern is that the floor throughout the 1st home is very soft and uneven. The listing agent forwards me an inspection report that states the beam in subflooring shows signs of harmful water penetration and of termite damage. Does anyone know how big of a project this will be and much something like that would cost? Furthermore, if I should take on something like that as a new investor? Thanks.