All Forum Posts by: Ruel K.

@Josue Velney Yep I totally agree. Give it to more years and the real estate market could go down. There could be good deals at a discount.

Thank you everyone for your quick replies. This gives me more confidence on the wording on the lease. That is what I like about this Biggerpockets online community!

I am renewing my tenant's condo lease. The security deposit carries over to the new lease. I have worded it this way:

On signing this Agreement, the Tenant’s security deposit of $2,000 from the 2017 lease is carried over to this 2018 lease agreement.

I just need feedback if that is good enough. Any suggestions and feedback is appreciated. Thanks.

@Anton Ivanov Congrats Anton! Your post has motivated more to get focused on investing. Let's have coffee sometime and talk real estate. I am in OC and used to live in Mira Mesa. I'd like to build my own rental portfolio too. 

@Paul Smythe I did not mean to come across like I am generalizing all brokers. :)

Yep, totally agree with @Chase Keller and @Andrew Kerr. I've been doing a lot of self-study about investing in MF for the last 2 years. One thing I've read often is that never trust the broker's brochures. The financials in those brochures do not represent the actual numbers. It just shows the best case scenarios. Do not trust any brochure or financials from the broker. What you need to ask from the broker is the seller's certified from the seller or direct from the seller, the last 12 months' financials at least. For estimating expenses, get expert advise from a mentor. Usually, expenses are estimated at 50% of the income but the financials might show a lower percentage.

Congratulations @Naftali Tolibas! I have also done all the readings, listened to all BP and RE podcasts, went to Meetups but not close to making a deal yet.  Mind if I ask if you're an apartment syndicator or individual investor? I would like to know how you did it. 

Thanks @Jay Helms. I might give you a call one of these days. This might be the kind of conversation that I need to get some real world feedback aside from all the reading I do here. Much appreciated!

Following this thread. I, too, would like to know.

@James English Following this thread to how it goes for you and wishing your success!

@Jay Helms I subscribed to your newsletter.

Hoping to get into multifamily investing.