All Forum Posts by: Matthew Pastore

Hi Bill Dorner I’m currently in Parker, CO and looking to invest in the Clarksville/Nashville area. My wife and I currently have several properties in Colorado Springs. Would love to reach out and speak more

For those interested current tenant pays $790 and market rates for that area are around 1,000-1,100

Joe Splitrock you’re right. I could have raised the rent to market value on the tenant. They may have to stay because where else could they go? Or maybe they truly couldn’t afford it and have to move and then I’ll get a new tenant who pays market rates. Either way I win right? But that’s assuming that my criteria for winning is entirely about money. For me it’s not. Which is also great news for Thomas S. ;)

@Nathan G. Ultimately I did walk away from the deal because it didn’t hit my numbers. I think what you are saying makes total sense. The max amount of rent I could get from that tenant was about 20% below market rates. I invest in real estate on the side and personally I would feel uncomfortable buying the property and raising the rents to the point that would force the tenant to leave. I know that’s not the right “business” answer but I wouldn’t feel right forcing a good person out of their home

Linda D. I think yours is a great strategy and it may be something I action on in the future. For right now I’m looking at deals with higher cash flow, but there is definitely something to be said about having a worry free tenant!

Joe Marshall great point! For me it comes down to opportunity cost. I have a certain amount set aside for a down payment on a rental property and I want to make sure I get the most bang for my buck. I think there are better deals to be found

Hello BP community! I am a buy and hold real estate investor in Colorado. I recently had an interesting situation where I would acquire a single family home with a fantastic long term tenant. The tenant is clean, keeps the house in great shape, and pays on time. Unfortunately the tenant pays well below market rates. After running the numbers (factoring in all expenses including anticipated repairs and CAPEX) the property would only cash flow $30/mo. Increasing the rent would force the tenant to leave. So unfortunately the numbers didn’t work for my personal investing strategy and I had to pass. But that begs the question: In order to guarantee a great tenant would you compromise on other aspects of your investing strategy? How much do you value peace of mind? I would love to hear the BP community’s thoughts on this. Thanks Everyone!

Hi Andrea! My wife and I own a few rental properties in the Springs and we’d be happy to speak more!

Hi David M. McDonald welcome to BP! I have a few rentals in Colorado Springs and would be happy to speak with you!

Hi Kaylyn, I did my first VA purchase in Colorado Springs in 2009 and currently have it rented out. Would be happy to chat more about my experiences