If not redeemed in 7 months he has a 3 month extension with price increase of 1% per month , AND the transfer of a small amount of equity to us in his development projects, which include a profitable 280 space RV park and a 60 unit new Marriot Motel.Should he not redeem, we end up with ownership of the two tracts with appraised value of $7.4 million.I’ll let you know how it goes.

You actually need to allow them to renew but you are able to make reasonable changes to the lease when you do so, including increasing rent.

Limits rent increases for residential tenancies to one per year. 

Oregon state wide rent control law, first in the nation…discusshttps://www.housingwire.com/articles/48325-oregon-enacts-nations-first-statewide-rent-control-lawhttps://www.cbsnews.com/news/oregon-rent-control-law-puts-a-cap-on-massive-rent-increases/

@Kristen Bouvier Scoville, if you want tax deferral from a 1031 then you want to have the LLC sell the property and subsequently the LLC will need to purchase the replacement property as well. 

This is a really bad practice & unfortunate & unless sophisticated & accredited investors like myself start demanding change it won’t happen.Ultimately before a subscription agreement is signed & funds sent in its up to the investor to do better due diligence & work to increase both their experience & deal flow!

IE tenant or subsequent buyer defaults causes huge damage and your now faced with negative cash flow for a year and 20k to fix the place. if you can handle that its okwhat happens though is you have unsophisticated sellers and in a lot of instances the home is lost to the bank and the sellers credit is trashed.. plus many times they want to buy something else and with this mortgage still in their name they cant.its just a very risky dangerous thing for a seller. 

Value with Garage To You = Market Value of Garage + Market Value of Smaller PropertyConverted Value To You = Market Value of Larger Property - Market Value of Garage - Cost to Convert Garage (including the time value of money)If converting does not increase the value of the property more than not doing it then there's your downside, too much time spent doing something not valuable.If it is still worth doing and if the comps call for covered parking, maybe you can add a nice carport cheaply in a way that doesn't cheapen the fresh new house.

If it's higher than $850, increase your price. 

Hi all,I am new to BP and just starting to research how to start becoming a buy and hold investor under extremely limiting circumstances and was hoping the BP community could shed some light on the best financing strategy to use for my first few properties.Current Financial SituationA little background on my current situation: I am 28yrs old working in television in NY ( making roughly 55-60k a year- yes it is brutal) I just bought my first primary home 2 years ago in Williamsburg, BK to lock in how much I’m paying for housing year over year in a place where incomes don’t increase as fast as rental prices (2 bd for 340k (this is an HDFC which is how I got a home for this price in an area where the median price is 1.5 million) ) so obviously my DTI is extremely high at almost 60% with no other debts besides my primary home (I also have a roommate who pays me $900 a month for her room which helps with about half my total monthly housing costs) (had a great mortgage broker that really helped me wiggle in to my first home)I now have about 75-80k in equity in the home and access to a family trust with a similar amount of money in it and was looking for the best way to turn buying an initial first property all cash into the ability to buy more properties( out of state of course- looking at different areas in the country from PA to TX to TN to FL).