All Forum Posts by: Ayodeji Kuponiyi

@Giovanni Isaksen I like your point. That's why I'm leaning towards 5 - 8 units to start off with. I'm thinking of refinancing my duplex and using the funds to purchase a 5+ unit if I find one that fits my criteria. What do you think?

@Giovanni Isaksen Thank you for your feedback. I'm looking into a 6-8 unit property. I would managed it myself and after awhile shift the management role to someone else down the line. There are so many options and I starting to feel that getting a nice turn key triplex-fourplex is playing it safe. 

I currently have a duplex and planned to purchase more however...I started reading,"The ABCs of Real Estate Investing" by Ken McElroy and I'm now considering in putting my money in apartments. Something small like a 6-8 unit to start off. Any advice or tips would be great. I plan to listen to Podcast 52 on my way to work tomorrow morning.

@Nicole A. I'm sorry too. I already got in touch with a real estate attorney 

@Jon Holdman @Al Williamson thank you so much for the feedback 

My wife has power of attorney over her parents house in Philly. They recently moved back to the Caribbeans and rented out their home to a family member. The cousin paid first and security and has yet to pay the April rent. The family member (cousin) has even gone far as to demand paying $40 less due to receiving transfer fee from wiring the rent from her bank to my in laws bank. My in laws gave her the bank account and locations within the area for her to make rent deposit but it seems the cousin has their own agenda. We recently found out that the cousin even changed the locks of the house and hasn't given us a copy of the key when we asked for one. Eviction is clearly the next step but what are your thoughts and advice fellow BPers?

Should my rejection letter read something like this:

We're sorry to let you know that the property at [address] is no longer available. At this time we've rented this property to other applicants. Thank you.

Do I need to add a reason why their application was declined? In this case it's income and employment is 3 months. 

The rental application fee is non refundable.

Should my rejection letter read something like this:

We're sorry to let you know that the property at [address] is no longer available. At this time we've rented this property to other applicants. Thank you.

Do I need to add a reason why their application was declined? In this case it's income and employment is 3 months. 

@Don Glasgow thanks for the advice. We'll lower it if we don't get enough response. I agree with you, vacancy > bad tenant 

@Patrick Donovan Thanks for replying. She just told me that her dad will cosign for $600 and wants a lawyer to put the lease together so that's he only obligated for that much a month. As a cosigner, he'll be responsible for the entire rent if she can't make payment and I'm worried if something happens I'll be short on rent.