All Forum Posts by: Richard Beatty

All depends on your class of tenants. A and b I would leave dishwasher and laundry hookups and raise rent. C and D I would remove dishwasher and for the laundry hookups I would see what your competition is doing.

Never split the difference!!!

Try running your numbers again. They do not seem to add up. At 305k 5% is approx a mortgage of $16xx not including taxes and insurance Water/sewer seems a bit low for a 3family household

In Massachusetts you can not charge a late fee until after 30 days. I usually give them a Courtesy Late Rent Notice. If it says their Rent is Due  the 1st on the lease, they do not have to pay until that date.Like  you said you can offer some incentive for paying early.

Check your local laws. In MA tenant can sue up to 3x deposit if you do not place into an account. Good luck.

Depends on what you will be investing in. Buy and hold/Flipping/wholesaling etc.

Listen to the BP podcast and subscribe to the Biggerpockets youtube channel. They have lots of great info on there.

@Anthony Hurlburt is correct. They will have to figure it amongst themselves. As long as its in a separate account you will be fine.

Have you included your expenses such cap ex./ pm/vacancy/repairs etc? If not it looks like you are cash flowing negative.

Move on!