All Forum Posts by: Neera Melwani

Would you be concerned about a lease expiring in October rather than August in Austin?

Great advice. My thought was to have them go month to month now, as well as sign the new lease NOW with the 4 new tenants starting in October, but your way makes a lot of sense as well. Thank you!

Hi BP! I have a SFR rental in Austin and it is currently occupied by 4 roommates, and their lease is up at the end of July. 3 out of the 4 tenants would like to renew their lease, and they found a fourth roommate to cover the vacancy. The new tenant doesn't want to move in until October 1 because of her other lease, and the tenant who is leaving agreed to stay an extra two months to cover the delta. Would it be beneficial to me to have them do month to month for 2 months, then start a new lease starting Oct 1? My hesitation there is that I know summer is a great time for people to move so if they decide to not renew next year it could be easier to fill the spot in August rather than September. But, I also get two more months committed if we go through September. What would you do?

Hi BP! I'm currently looking to invest in 4 or 6-plex new construction homes. My budget is around $450k/unit and I'm looking for >10% cash on cash return. Does anyone know of any markets to look in? Thank you!