All Forum Posts by: Daniel K.

Is this a 2 bedroom apartment that is currently being leased (in the eyes of the CHA) as a 1 bedroom apartment? If so, you will need to apply for a change of number of bedrooms on the standard CHA rent increase form. They will schedule an inspection to verify that the second bedroom does in fact exist in the apartment.

@Scott Byer I'm a little confused on your numbers here--the expenses including P&I you list total to $1525/mo. If it rents for $1600/mo, how're you cash flowing $200/month?

Thank you everyone for your replies! For those local to the area--@Kevin Nichter and @Kevin Hart do you see many areas with entry points <$100k/door in B or C neighborhoods with potential to add value to small multi-family assets? I've reached out to you two individually via PM as well.@Kevin Hart

@Rob Bergeron Thank you for your response! I will send you a PM shortly. @Najma Osman thanks for your insight! Right now, I'm focused on Louisville, but will consider those Ohio markets in the future.

Hi Louisville, I'm an out of state investor heading to Louisville in a few weeks to learn more about the market. Specifically, I'm looking for small multifamily (2-4 units) BRRRR deals. I have some experience in other markets, and was hoping to connect with investors, agents and wholesalers in the region. What areas excite you the most for 2023? What strategies do you see well working in the market? Let's connect!

I had a similar situation in my triplex, which I live in. And it sucks, it takes a toll on your mental health living with someone who is trying to take advantage of you. First and foremost, since you share a roof with him, it's important you remain courteous with him, as you don't want him to grow hostile with you since you share a space. In my situation, I ended up filing an eviction, and once he was served, we negotiated him leaving in exchange for forgiving the back rent (I never brought up giving him cash to leave). Don't start off offering him cash, if you give him an inch he'll drag you for a mile. It's a game of carrot-and-stick. I would tell him that you don't want to do this, but that you need to file for eviction since he's in breach of the verbal contract. Explain to him that he's gotta leave, either on his own, or by being dragged out by the sheriff. From there, you can work toward negotiating back rent forgiveness, and if you must, cash for keys.

@Colleen F. That's a great point. Thankfully, he told me yesterday that he plans on being out at the end of the month and has a new place lined up. Here's hoping he's telling the truth.

Six months ago, I started my RE journey with buying a 3-unit house hack in Chicago. When I bought the place, two units were already rented, and I'm living in the third. One of the tenants has been a recurring problem tenant, causing significant damage to the apartment, causing me to receive complaints from the other tenant, and consistently paying rent weeks late. As such, in March I kindly told them I would not be renewing their lease (which ends 5/31), due to needing to make renovations to their apartment (rather than telling them they were the problem). At that point, they begged me to stay, and when I refused they stopped paying. In April, I gave them a five day notice for nonpayment of rent, and filed for eviction with the county. From talking with him, he shows no signs of planning on leaving at the end of the lease. I'm in a very tenant-friendly jurisdiction, and as such the sheriff still hasn't served the tenants despite it being almost four weeks. I performed an arrest records search on the tenant and found a history of arrests, as well as a warrant out for their arrest (failure to show in court). With my own safety in mind (since I live in the same building as this guy), should I threaten to report him unless he leaves? At this point, I'm not looking to recover the $2000+ in lost rent, I just want him gone. I haven't tried cash for keys yet. Thanks in advance!