All Forum Posts by: Tony A.

Are you managing your own property? If so send the tenants letters introducing yourself and who and where the rents are being made and send to. Whenever the leases expires, give them new leases. 

I would subtract the $1200 from the sale of the price. If the tenants do pay it later then you can write a check to the seller. No fuzz :)

Move to Texas. It's very landlord friendly. 

Thanks.

I am buying a apartment with one of the tenants being a section 8. Tenant's lease is expired and is month to month. Do I have to keep a section 8 tenant now that I am going to own the property? I will be raising the rents after repairs and updates to the property. I like to stay out of section 8 bureaucracy. I know that some people have had good experiences with sec 8 and some had nightmares. Pls advice. Thanks :)

Hi Jacquelyn, I'm also looking to purchase 8 to 10 units. Look at the rent rolls. condition of property. Any foundation or roof problems? Work with an agent with multifamily exp. I usually multiply the NOI x 10 to get an estimate of a property. Also try to manage it yourself and save extra $. :)

What do yo you think the cost of sub metering will be for the water on each unit?

I would not invest in another state or even another city. Unless you plan to come check on it. And no management company would take care of your property like you can. That's my 1 cent or is it 2 cents? :)

For a small property I would not waste my money on management.