All Forum Posts by: Ebenezer D Grant

@Michal Kasza

I'm by the Charlton hospital. I also bought last yr...house hacking, renovated the 2nd and 3rd..now I'm getting market rent. Like you I just refinanced for a lower rate. I was ready to buy before I refinanced but prices I thought were too high. So I have to wait a little bit which is not a bad thing in my eyes because now I can save and in 6 months to a yr there'll be more inventory and prices should level off. I'm going to use the time to upgrade my unit iterim.

@Michal Kasza

I'm in Fall River

@Jesse Smith look at it this way...maybe it's nothing personal...maybe they just don't want you knowing all their business ie: debts, income skeletons in the closet etc. Maybe for fear that you may look at them differently after knowing all their financials.

Thanks Amanda G. and Thomas S. for the advice.  Update: both tenants are moving out on jul and aug 1st so it worked out.  This gives me the opportunity to clean up, do some reno and I should definitely be able to get better rent.  Thanks again!

Eb

Hi BP Family,

So I just closed on my first multi unit deal with two tenants in place, one of the tenants has been there for a long time and the previous owner never took security and last from them.  They are on a month to month with no previous lease.  On top of that, their current rent is a little below market.  I plan on raising the rents a little.  My question is, can I demand a security deposit from them to protect myself in case they damage the apt. when they move out or should I adjust the rent accordingly because of no security? 

Thanks in Advance

Eb

Thanks Christina!  Glad to be here.  I do listen to the podcasts and BP's youtube as well.  I do have an agent already so my next move will be to talk to lenders.  I'm going to start talking to lenders next.  So, you suggest I talk to multiple lenders etc?  Between banks, credit unions and mortgage brokers, which one should I target?  Is one type of lender better than the other or should I just keep shopping till I find the best price/terms.

Thanks for responding!

Hi everyone..my name is Eb and I'm new to the community. Glad to have found BP as it seems to have a lot of good info. I'll like to get into commercial R/E investing. So far I've been studying, doing research and cleaning up my credit. Is my next move securing a loan? Any advice or tips about the process is greatly appreciated.