All Forum Posts by: Mo Maktari

So as some of you know, there’s a hurricane come this way and I have quite the issue. One of my tenants are supposed to move out 9/30 but since they are Sec 8, the county can’t inspect their new property until the 4th due to the state of emergency in Florida and everything shutting down. Would you charge a daily prorate or be a decent human being and just wait so their not homeless?

First of all, I'd ask for proof of out of state employment. Sublet is not an option for me. I'd negotiate with the rest of the lease; me personally I would accept 3 months out of the 6 months remaining. 

Hey welcome to BP! So, like you, I started with RE investing and used a HELOC. Weighing out both lending options was kind of easy for me because of the rates. Giving up a 2.75% rate on my primary wasnt going to be smart when I went into contract of my Duplex in May of this year. Like what others said, the con's of the HELOC is the variable rate (currently at 5.5%) which will probably go up again at least once this year. Just make sure the numbers work either way. Also keep in mind, with an investment loan, it does require 20-25% down so depending on your equity, that will need to make since also. Good luck!

I just recently had to do this to one of my tenants. What you have to ask yourself, is the $200 worth losing a good tenant? Is the unit clean? Is the tenants a pain in the ***? Does the tenant pay on time? You may risk a terrible tenant for the extra cash in the long run. I would personally raise it $100 a month and MAKE SURE you tell them you will have to evaluate it every quarter to match market value.

Hey, Welcome to BP! There is a meet up on 8/8 @ 6:30 pm at Brass Tap on N. Dale Marty. If you search “Tampa” in the location, you can find the thread.

The tenant is on a fixed income and can't afford to stay to match even alittle inflation. Sucks but it is what it is.

 In my opinion vouchers seem like the most stable forms of rent so yeah I agree completely.

One of tenants who is on Sec 8 got the non renewal letter today in the mail annnnd as expected, she threw a fit and blame us investors for "buying everything up and kicking us out". Now alittle back story I purchased this duplex with tenants in them that have been paying at least 35% below market in rent so unfortunately I can't afford to keep them. Their lease expires in October which now gives them more than 2 months to find something AND I gave them the option if they found something before then, I'll gladly allow them to break their lease to move. Just makes me feel uneasy alittle thinking that someone feels like I'm making it personal. Just a little venting.... 

Any recent stories with you guys?

Welcome to BP! Right now is still a great time to purchase. Regardless of the internet rates or inflation, as long as the deal makes sense, I'd buy every time.

There's always never a bad time to buy. Supply is still scarce even with demand slowing down.