All Forum Posts by: Matthew Wright

@Kyle J. thanks a lot for the feedback and resources, a huge help!

Has anyone linked up with their local housing authority, in order to work with them and fill your units with sec 8 tenants?

I have a tenant that owes me money, she finally got out, which is great, however she was about to be served the small claim docs after the labor day weekend  by sheriff, but now shes gone and i dont know her new location. Im told she moved one town over to another sorry landlords rental. Anybody experienced with tracking people down like this? Im owed about 6k so im not giving up any time soon.

@Kyle J. ok good, I actually prefer they don’t report it. 

Can a seller that is holding the note short term, report the debt to credit bureau, or is this something only institutions can do?

Does a loan made out to an llc show up as debt on personal credit report?

When my LLC is borrowing from someone's SDIRA, do I have to deal with the custodian/agent that is handling the SDIRA or provide them with info.

@Greg Scott yeah sounds like staggering would be safest way so it’s not such a big blow, but I wanted to increase the rents and add the value sooner than later, so I can do cash out refi and roll it into another multifamily, by October. 

@Greg Scottundefined. Currently all 8 units are significantly under market rents, these 2 bedroom units are currently at 900 (5) and 850 (3). While the rents in my market for similar units are 1200-1300 (heat included) so I was going to go to 1100 on everyone, then I could get a nice boost in income, while tenants still are below market and would have a hard time finding somewhere cheaper, even after rent hike. So technically I will be leaving money on the table, but perhaps I should rethink my method?

I have a acquired an 8-unit with all units occupied by TAW, and improvements are wrapping up, so now its time to re-up the leases and increase rent. Im thinking Ill email them to notify rent increase that will be effective in Sept. but Ill also require new leases. My question is, would you simply notify them and explain to them that theyre required to sign new lease at new rent rate and if they dont then they need to move on?

I havent done rent increase to an entire building at once that had all tenants at will (month to month). So looking for input on this scenario and if theres anything to keep in mind.