All Forum Posts by: Michael Opper

 Really appreciate that Jackson!

Also, who or what profession would help me look at an opportunity to understand if its a good deal or not?  

I'm looking to buy my first multifamily, apartment complex. I currently have a handful of single family Section 8 rental properties.

Ultimately I'm looking to understand the best way or multiple ways of coming up with the down payment for something that’s priced in the 2M-3M range. I’d prefer not to have a partner if possible. Thoughts on pulling money out of my primary residence to cover the down payment or are there better ways?

If anyone has experience making this jump, I’d love to pick your brain!

Thanks!

@Brad Hammond thank you. They’re month 2 month so I “can” adjust whenever. As part of the closing I had new doors and a new kitchen floor installed. Not out of my pocket, but not the point. 

@Tim Herman that wasn’t helpful and not what I was asking. Thanks

Is it fair to raise the rent after just purchasing a property that already has a tenant living there? They have been paying a very low amount for rent for a long time and I only want to do a modest $50 increase.

Just purchased a new property and can’t decide if I should raise the rent with the existing tenant. They’re currently paying on the low end of rent for the market. Thoughts?

@Karl B.

Got the deposit at closing.

I’m getting ready to close on a house that has a current tenant that’s renting at a month-to-month. When I take possession of the house should I require the tenant to provide a security deposit even though they’ve already been living in the house for many years? Or just take over the month-to-month rent?