Account Closed
New to financing with OPM
26 February 2024 | 10 replies
Not sure … I may just reach out to some friends in that income class and get their thoughts.
Kayla Weigel
How to Handle Challenging Tenant in 5-Bedroom House Hack
23 February 2024 | 6 replies
Moving foward: 1) Enter into month-to-month leases instead of yearly (term) - they are the SAME to YOU but month-to-month give you all the leverage should this occur again in the future. 2) You should add a clause to elaborate on and expand on the current 'Noise/Waste' clause and the new clause should focus mostly on nuiscance and violation of other Tenant's quiet enjoyment and the remedies (fines) leading up to eviction if the issue is not corrected. 3) You should add a clause to protect yourself from the other Tenants (the good Tenants) ensuring to clearly spell out that you are not resposible nor do you guarantee that other Tenants will abide by the lease nor is it your respobility to enforce the lease vs. other Tenants, nor do you guarantee safety. 4) This is the most imporant one that will fix most of your issues: Because you are adding #3, you will now add yet another clause that gives ALL Tenants the right to enforce the lease in regards to your new 'Noise/Waste clause 2' against any other Tenant who violates it and will idemnify you and hold you harmless, ensure to limit the right to only the pertinent clauses ---- essentially, if Tenant A complains to you that Tenant B is making funny faces at them... you can inform and remind Tenant A (in writing) that if the issue is a problem they have the right to pursue legal action vs.
Henry Hsieh
Commercial real estate rate
26 February 2024 | 9 replies
Side question, assuming that you have a pretty strong income from work, would you hold your commercial real estate as long as you can and to by another on top of the existing one or would you 1031 to a bigger commercial real estate instead?
David Suarez
My First House Hack
25 February 2024 | 1 reply
House hack potential of adding two separate rental income sources while living in the main house.
MJ Jav
300K..Invest in San Antonio (TX) or Raleigh (NC)?
26 February 2024 | 13 replies
As far as a multi, personally if all things were equal I'd go for the multi for a few reasons. 1) Added diversification.. if one tenant doesn't pay, you can still cover property expenses with the other tenants 2) Shared capex... typically, one roof and one property to maintain but multiple streams of income 3) Less vacancy.. usually multi's rent for lower, for example one of mine is the sweet spot of 3 bedrooms for $1300.
Radhika Kapur
Property Management negligence leads to $100k in damages, what are my options?
26 February 2024 | 29 replies
I would also recommend asking for reimbursement for lost income and sending documentation that substantiates the actual amount of rents you are out while this matter is being resolved.
Alexander Wardell
Turning a residential multifamily into a commercial multifamily
25 February 2024 | 12 replies
The conversion from resi to comm + the added income could drive up the value dramatically.Your only real hurdles (in terms of proceeding with production) are zoning and permitting.
Yaakov S.
17 trying to figure out what to do.
25 February 2024 | 10 replies
Typical rates are 8-12% of income either monthly or yearly depending on manager.
Adam M.
Co-GP/JV... Who's on Title?
23 February 2024 | 16 replies
@Adam M.Typically a new entity is formed to own it and that entity is owned by the two gpsIn this day someone who invests in a syndication and is passive will say they own 1,000 doors because they want to sound bigger than they are.Anyone can say whatever they want one social media and people will believe itSaw a post from a guru saying they own several thousand homes - I can pretty much guarantee you they do not.
Dana N Johns
Dana Johns Rookie home investor
25 February 2024 | 6 replies
And quitting your job will probably not happen right away, the income from your job will help you to get loans to buy real estate.