All Forum Posts by: David Boroughes

@Justin Howe Thanks, I already have a Discover bank online saving account pays around 1% as well. I had Ally a few years back, seems I left because it was an introductory rate that dropped after awhile. Wasn't terribly happy with them.

@Stephen Major how long til they mature? I'm looking for a liquid investment, I can pull from right away, such as bank account, money market fund, or even stocks & mutual funds (although those are too risky for short term investing). Where do you buy these notes? How quickly can they be sold?  or do they have to be held until maturity? or is there a penalty for early withdrawal?

I don't know if the next deal is coming tomorrow morning or in 3 months. But i need access to the cash in a quick amount of time when needed. 

Anyone, anyone? Bueller?

@Account Closed Thank you, that's what I did today when I ran into the tenant at the property. Told them to expect a letter as well, but now at least they have a heads up. 

@Andreas W. Thank you, I found one there!

@Thomas S. We must live in two different worlds...

Where do you park your money between deals? Last house I sold, I bought into mutual funds & some individual stocks, turned out to be a bad move, lost tens of thousands. At the same time, I hate to just put it in the bank and earn .5%. I want to preserve the capital, but make a little something, I'd be happy w 4-5%.

@Account Closed I understand your position, in my market it is common for rents to remain the same for a couple years then increase. There are mostly mom & pop operators here and very few large apartment complexes. I will look into your thinking of just building in the $25 increase into the contracts, that would solve my current dilemma, if the tenant knew every year they stay the rent goes up slightly, and I stay at market levels or there abouts. 

I'm not looking to give reasons for the increase, just advise on respectful wording of the notice of increase, I am a firm believer in if you respect the people and they will respect your property, and that is what has the most value after all. 

Exactly, Thank you. What I am looking for is an example of a letter you would use when asking/notifying for the increase.

That has always been my thought, but I have 2 units where my tenants have been there for a number of years now, and I'm watching rents go up, especially this year, and beginning to realize I have to begin to raise these long term tenants rents, at least modestly, because it is money out of my pocket. Their rents will still be about 8-10% less than market, so I doubt they can get another place at the same rate I am offering