You are at the best REI networking portal on the internet.

Hi fellow Baltimore folk,I'm having trouble deciding how to try and approach financing a first deal, bear with me while I lay out the situation.  

If the vendor did not provide you anything in writing indicating the commitment to no rise in rent during the diligence period (as a loss to lease of that magnitude would be material), then there is is no commitment to which you need be concerned.You can just serve your tenant with a rent increase (which they may take as a notice of termination) or, if you are concerned at all about refilling the unit, you could lay out a timeline to raise their rent to near market in 2 - 4 smaller chunks.

Congratz on your REI success so far and wish you all the best for future deals.You are at the best REI networking portal on the internet.

Hello All,I have looked on MeetUp, the BP Event page, and the Internet at large, and all the Real Estate Investment get together I have been able to find, are beyond the city limits of Boston and Cambridge.

You are at the best REI networking portal on the internet.

EDIT: Disclaimer I have no clue how things work in California so treat my thoughts as some yahooligan on the internet who is just spewing stuff :)

You are at the best REI networking portal on the internet.

Hi @James Mccarthy,DISCLAIMER: I am not a lawyer and not one in your area for sure, so my advice is just the mindless ramblings of some dolt on the internet.

That is after subtracting a 10% vacancy rate and a generous estimate of maintenance expenses. 3.4% seems very low to me, however, I have searched the internet and cannot find any discussions on passive income returns on equity.