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31 August 2021 | 25 replies
The answer is very different for a multi family due to state wide rent control.You have the notice duration correct when tenant is on a month to month lease and has lived in the unit over a year.
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1 September 2021 | 5 replies
I have had tenants agree to jobs like a floor or furnace repair when they are not present but it is usually something they don't want to be present for the duration of the job and the contractor is known.
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7 September 2021 | 12 replies
What is your average tenant length stay? Just to qualify the number, it would be good to state how many properties you have and whether they are SFH or MFH units.
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15 September 2021 | 9 replies
For example, the tenant is wanting us to pay for all utilities that the tenant is responsible per the lease agreement during the duration of the repairs.
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6 September 2021 | 9 replies
So there is a savings of whatever you would have paid in rent by choosing this option.With buying a rental property once it’s paid off you now have a steady stream of cash equivalent to or more than what you pay in rent.That’s not even factoring in the fact a loan on a rental property is paid by someone else (the tenants) during the duration of the loan.I would avoid investment in single family homes or anything that requires immediate renovation for now.
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6 September 2021 | 1 reply
Can you just get some kind of a temporary hotspot set up that they can use, for the duration of the work?
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8 September 2021 | 18 replies
However, if you sign 2-3 year leases and focus on a strong lease renewal strategy, your average duration of resident stay might be 3, 4 or 7+ years like REI Nation and @Chris Clothier.Just look at the numbers: All-in cost of prop turn: $6k per turn (vacancy costs, repairs costs, tenant placement fees)Potential rent escalation per year: $600 - $1,200 (typical for most cash flow markets)Would you incur a $6k expense every year to potentially make $600 - $1,200?
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12 September 2021 | 7 replies
events happen and you need to evacuate or there's extended duration power outage and no AC, food, etc for the facility.
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9 September 2021 | 5 replies
The downsides are the variable/higher interest rates and the shorter loan duration.
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8 September 2021 | 0 replies
(we’re being conservative @ $1200 for analysis purposes)Refinance to 30-year conventional after 6-months of tenant occupation (our conventional lender tells us they require the 6-month duration) - Pending fed action / outlook, we’re using for analysis purposes 1-point and 4.5% for a ~18-month out forecast on conventional refinance investment property rates.