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20 November 2024 | 1 reply
This is the breakdown:2 tenants on month to month leases ~$250-$350 less than market1 long term tenant (15yrs) is now on month to month lease and is paying $1500 less than marketAfter consulting with a couple of people and doing some research, it sounds like anything over a I should apply banking rent raise and submit a 60 day notice (all of these units fall into that category).
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21 November 2024 | 9 replies
We've fixed the handful of items they listed.Unfortunately, two or three weeks ago I got an email from a code enforcement about this now year old citation.
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21 November 2024 | 7 replies
Cutting down on gov't spending and the pulling jobs back into the US should help offset some of the tariffs, but it will come down to which items exactly do get tariffs put on them and to what degree the tariffs are (10%/20%/50%).Overall, my guess is that rates will go down for early next year, rise during the middle quarter-third of the year, then fall slowly afterwards.
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20 November 2024 | 6 replies
When we purchased the property we inherited the tenants that were leasing out the garage conversion.
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24 November 2024 | 5 replies
Also having a higher proportion of revenue generated through the residential component of the building does make financing easier. (3) The exception to the 80% rule I abide by is when the commercial space is leased to a credit tenant with a proven & sustainable business or where the space presents the opportunity to attract a neighborhood amenity F&B operator (this is most beneficial in instances where you have a larger localized portfolio where these commercial tenants can positively impact the value of your overall residential portfolio).
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22 November 2024 | 15 replies
And if that doesn't work, we start quoting the lease in a factual, bullet point kind of way with no drama or finger pointing and always ask them to stop in to talk about it.
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15 November 2024 | 17 replies
Robbie - first thing that comes to mind is renting out the rooms individually on shorter term leases (co-living model).
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17 November 2024 | 7 replies
well 70% of 455ks isnt much more than you currently owe at 283k the 70% of 455k is 318.5k and after closing items you might only net 20-30k tops (new loan minus current 283k - closing items = net proceeds in "hand.").So The question you should be thinking about is what are my closing items and is this enough cash to accomplish my mission/goal?
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20 November 2024 | 18 replies
I only lease 2-3x's a year and end up using mostly Zillow / Experian for the listing, application and screening.
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20 November 2024 | 13 replies
The most important thing is going to be staying organized with what items are purchased for which property.