All Forum Posts by: Reed Nixon

We purchased our first duplex last year and it came with two excellent long term tenants, (one left) and we were able to, in less than a month renovate and 're-rent for $300 more. The other units rent though was not raised in the last 3 years and they're 575$ under the going rate. We do have a good cash flow but we also know we are leaving money on the table. How do you rectify this with out being terrible to great tenants? They are month to month. 

We would like a cut and dry mothod that takes the emotions of wanting to be liked out of it and makes it more of a business decision.

Ideas or advice would be appreciated!!

Our time line is 2-5 years (playing it safe) and we have no experience with using a heloc. We did well with our purchase this last year and the value has gone up 55k (zestimate, for whatever that's worth). We are hooked, but are having trouble figuring out next step.

My wife and I are Working on saving up for a down payment for our next multi family investment property. We are struggling with where to build our savings, in a regular savings account? Is there a way to pay down the mortgage of our current property then use that equity on our next purchase with a refinance? How do the pros do it?