All Forum Posts by: Ally Kumar

@Diego Hooker.

Hi Diego. Welcome to BP. This is a great place to learn and connect. Lot of experienced folks here who generously help out with their knowledge and experience. You are on the right path. If you need help with private money lender in Orlando, I can recommend someone. If you have any general questions about real estate, feel free to reach out. I am happy to share my RE experiences. Regards Ally

@Richard Gray. Welcome to BP. This is a great place to connect and learn. I am a local Tampa bay investor. Feel free to reach out. I am happy to share my RE experiences. 

@Lynda M. Frego. Welcome to BP from a fellow Tampa bay resident and investor. I have learned a ton on BP and continue to do so. Feel free to reach out or meet for coffee. 

Hi Don, welcome to BP. This is a great place to connect. I am a local investor in Tampa area. I have done a few deals and consider myself intermediate level. I would be happy to help. Regards Ally

Hi Jay, I have used Dale Hays Masonry for masonry repairs for my primary residence and they did a good job and didn't charge me even though it was out of warranty period. I had bought my house as new construction and they did the original work on all the houses in that subdivision. They are based in Hudson. Don't know anyone for foundation. Good luck. 

We recently acquired a triplex that has one water meter as previous owner was paying that bill. Water bill runs from middle of the month to middle of next month. In billing back tenants based on number of occupants, how should we handle this since they pay rent in beginning of the month and is on different cycle than water bill. Should be take half months bill say from Aug 15- Aug end and bill them for half of month and then bill again in mid Sept for half of Sept from Sept 1-15? Average out the bill and then bill monthly at the end of the month? Adding 2 additional water meters by city will cost $1200 and then plumbing charges to run separate lines from those meters. There are no common areas to maintain to deduct for that owner's expense. Thanks for helping out. 

@Chris Troutner and @Eric S. I am local in New Port Richey area. I have worked with realtor Janina Wozniak with future home realty who knows the area well and is also an investor. She is on BP and that is how I met her few years ago. I can provide her number if you like. Eric, just curious how you bought the note. I am looking into note investing too. Thanks Ally

@Thomas S. and @Michele Fischer.  Thank you both for great advice. It seems Tenant B wants to move so its easier to get my own tenants. 

I recently acquired a triplex, each unit is $200 below market rent. Tenant A is month to month, is a disabled elderly woman on low fixed income. Her son who doesn't live in the area told me it would be very difficult to move her, there is a rental shortage in the area and she can't afford market rent. At son's request, I verbally agreed to do $50 discount from market rent and do month to month lease as she may not survive a year as per her son. Now tenant 2 has lease ending in Sept and wants to renew at below market rent and is arguing that I am giving Tenant A a discount and not her (she talked to Tenant A). This is the first time, I am handling this kind of situation. Am I obligated to charge all tenants the same rent? I was being considerate of Tenant A's situation but don't want to under rent the other two units as it was purchased as a value add deal based on current market rents. I know I do have the option of not offering other two tenants a new lease and get my own tenants. In general, is it a bad idea to work with tenants based on their particular situation? Can I be accused of discrimination? I didn't find anything specific in FL landlord statues regarding this. Any suggestions/ideas/comments? 

Thanks to all the people who contribute their valuable advice to newer BPers like me. Much appreciated. 

I have heard general rent increase of 3-5% every year if tenants are renewing their lease. However, rents have gone up about 12% since last year in my area. Is it advisable to raise the rent to market rent (or slightly under rent since these are good tenants) or does traditional increase of 3-5% is more reasonable? Whats the recommendation if rents are going up significantly? Thanks for your input.