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30 December 2024 | 15 replies
.✅ Secondly, good cause has a max cap on yearly rental increases at a certain margin above CPI or 10%, whichever is less.For those of you who own stabilized, high quality housing like we do, this shouldn’t be a problem.But instead of keeping rents flat because you are a nice person or increasing just a little bit, you could get yourself in trouble when it comes to funding future major repairs and capital expenditures.As long as you are increasing to what the market will bear, you will be in good shape.Also if you are looking at purchasing blighted, dilapidated housing with the intent of raising rents and financing improvements to the property, you will have to take this into consideration and buy accordingly and on in place rents not projected rents.On the implementation side, however that pans out, you might be able to get these necessary rent increases to finance repairs but you may need to go to housing court in order to get the green light but we are just not sure at this point and remains to be seen.✅ Thirdly, in regard to objectionable tenancy and nuisance caused by disruptive tenants, you will need to document these violations with undeniable evidence.Because police reports are not usually able to be procured due to disturbances like drug trafficking or domestic violence, you’ll need to take matters into your own hands on producing that documentation.I recommend getting security cameras installed in all common areas and outside your properties.I’ve used SimpliSafe security cameras but you’ll need to install WiFi service at your properties so that you can maintain recordings in the event of violations and add to your lease that any tampering with said cameras constitutes a lease violation as well.This is still developing and once we get further clarity, we will host a round table with legal experts on how to best protect our properties and residents.
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20 December 2024 | 3 replies
This is anecdotal, but I come across of ton of GCs looking for spec-build financing in local meetups and networking groups, such as on facebook on in person meetups.
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23 December 2024 | 8 replies
The manager or registered agent needs to be identified first and then that person needs to be skip traced.
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26 December 2024 | 9 replies
While I love the brand and have personally used them for the past 7.5 years, the dryer takes FOREVER when doing loads of bedding or towels.
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24 December 2024 | 23 replies
Personally, I'm very conservative, and I confine myself to sponsors that have a track record of at least one full real estate cycle with either little or no investor money lost.
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19 December 2024 | 9 replies
There's some connection you have to this person with money who is looking to invest it short term and collect an x% return.
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26 December 2024 | 6 replies
Personally, I've had success in Linden, Southern Orchards, South of Main, Driving Park, and Franklinton to name a few neighborhoods in Columbus.
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3 January 2025 | 8 replies
All lights were green and there was a pileup, leaving behind a mess of twisted metal and broken glass, and a few personal injuries to boot.The syndicator crowd coined the phrase "survive until '25" under the hope that by 2025 interest rates would correct and their deals would be fine.
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23 December 2024 | 15 replies
Quote from @Ana Mills: The high quotes for the electricians will be way cheaper than having your handyman do it and it causing damage, causing a fire, or even worse causing a fire later when someone is living there and that person/persons getting hurt because of the work being done by an unlicensed worker doing the work.
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29 December 2024 | 16 replies
That's the way I look at things personally.