All Forum Posts by: Gladys Cepeda

OR should I ask my realtor to just lower it $50.00 for now to see if it makes a difference. This will be my 3rd month paying a pretty hefty mortgage and NOW im getting worried. Is it worth waiting for a rent that I want, or just get this baby rented and raise the rent next year. Thank you in advance for any input. 

Hi there! I currently have 2 apartments that I just finished renovating. The apartments look beautiful, clean with very nice upgrades. The location is great and the rents in the area really vary. Im about.04 miles from Providence College. A few blocks closer to PC the rents are higher and I am sort of on the cusp of the end of the college rental area to the beginning of a different neighborhood. So the rents really vary. I posted my first floor apartment 21 days ago and have had NO applications. I posted the 3rd floor apartment and almost no interest. Its def. not the apartment itself, they are in excellent condition. My realtor got professional pics done and they look great online. I just dont know why its not renting. The other apartments in the area are also in good condition and are much more expensive then what im asking. I decided to lower it up to 125-150 dollars (from 2300 to 2150) and (2100 to 1975). I saw the drop on zillow and just panicked. I feel like i made a huge mistake. Please advise. What are we doing wrong? Or should I just leave it now at this reduced price. Am i panicking too soon. I understand its winter but 3 weeks and no application is concerning. what do you think? Please help. Yes Im a newbie.

Hey Dan, just thought I'd thank u again for your input, we decided to renew her lease n she was very happy to stay n pay market rent. We are delighted to keep her!!! We will stay put n revisit thos again next year!!! Thx so much for the advice!!!

 Hey Ray, I so appreciate the input here. It's just helpful to get other perspectives.  So we decided to renew the tenants lease she was relieved to stay, so much so that she was willing to pay market rent. So it was a win win for both of us. So glad I sought advice n sat on it for a few more days. So glad I didn't lose her bc honestly she has been a great tenant for past 3 years. She is even willing to purchase in a year If we are interested in selling. So we will see. So relieved. Thank you once again!!

Thank you so much for this advice. You made some important observations that I should definitely consider. Sincerely appreciate your input. 

Hey!! I currently own a cute villa 2/2 in West Palm Beach Florida,  in a 55 and over community.  

PROS of this villa: Great tenant, villa has appreciated 100k in 5 years, low HOA fees, locked in a Low interest rate.

CONS: 55 and over community, tenant paying below market rent, the community board is untrustworthy and are accusing us of not paying HOA dues for 2 years, but that's a whole other issue I need a lawyer for. Concerned about the current state of Florida market.

So here is the situation that I need advice on. What's the wisest decision to make on this at this point?

1. Do I raise the rent and make $600 a month on passive income, keep the property and chance this home not appreciating much more bc of what's currently happening in Florida with excess amount of inventory sitting there?

OR....

2. SELL it , keep the 90k profit and re-invest it to buy a multi family property in a different state? What are your thoughts???

PLEASE ADVISE!!

Appreciate any help.

Hey!! Im in need of serious insight please. I am in contract with a 3 family multi unit property. Its a 2 (1 bedroom) on first floor, and the 2nd and 3rd floor is a townhouse style of 4 -5 bedroom! There is only one HVAC for these 3 units and 3 seperate themostats. Will I be able to get away with not adding 2 additional HVACs? I keep reading that it will be so hard to seperate the costs for each unit. Is this worth the headache or pass on this. Not to mention the inspection came back with SO many issues.

 Hi. I am under contract for a 3 family home w a very unique set up. 2- 1 bedroom apartments and 3 and 4th duplex which has 5 bedrooms but only 1 bathroom

this home is 8 min from Brown University in RI and 10 min from Johnson Wales. (6miles)

Do u think its close enough to attract college students especially the duplex? 

 HI Devin. Are u a lender? I'm reading your thread and also am looking for a multifamily and would prefer to pay 20% down instead of 25% the lender I am applying with just told me that I have to put down 25% and that it's standard.  I guess tht us not true? Can u plz help

 Hey Sean. I am responding literally 4 years after this thread began. I did a search on investment properties in Lehigh valley area and this thread popped up. Funny bc Im currently interested in investing in Lehigh valley as well, and I also live in Rockland County Im in New City. Love it up here originally from Queens. so hello neighbor. Just curious, now that its 4 years later, how are your properties doing? Did it appreciate over the years the way you expected? Do you have any advice on what areas to focus on in PA and or areas to avoid? Im ready to invest and just need to narrow some areas of interest down. also can you plz refer me to your realtor? THANKS SO MUCH