All tenants were given 60 day notices and I can honestly tell you most tenants expected the increase and some were actually glad , because along with the rent increase , they expected their units to be brought up in condition.Not only from this experience but based on overall experience, we have decided small annual or bi-annual rent increases are preferable and expected.I hope this adds to this conversation.

And conversely, in a (using as an example) Los Angeles marketplace, the buy in for 5 investors may be 50k-100k, as it would be more difficult to buy (cash out properties) for anything less than that.I'm just wrapping my head around various avenues for myself, as I build my 2014/2015 goals.I thank those who contribute in advance, because were it not for your knowledge and information many of us would not even be able to reasonably consider RE as a viable option for us to make money!

There's no "conversion".

Hey bp , I recently had a conversation with a friend who recently became a realtor.

The property we just bought kind of fell in our lap via a dinner conversation with a family member.

I would imagine you are fixing and flipping with paying cash.From other conversations I have had with local investors that market has pretty much died.

@Kerisha Johnson welcome to the community and congrats on choosing to get going in real estate and participate in the conversation.

So from what i'm getting from this conversation is that most people don't approach a seller with a seller financing offer?

Condo conversion address 1613 6th St Berkley CA7 unit apartment complex sell price is 1.52Msix units are 2 bed / 1 bathone is a 3 bed / 1 bathall units have their separate gas and water meters and parking space, there is even a common space available set up in the complex.Condo compatibles are $400,000 plusEven without the conversion I am told the rent are $135,000 per year cash flow.After talking to the planner at the city, most of the conditions have already been met by this particular property.It will mostly be paperwork to convert and put in place an HOA.

welcome @Brandon Hall and congrats on participating in the conversation.