All Forum Posts by: Herve Francois

@Nathan G. - very helpful and thank you for the good advice. I’m definitely going to have them fill out an application again.

@Alina Trigub - As always very helpful and I agree with you 100%. Thank you!

BP family - need thoughts!... I’m looking to purchase a fourplex that is currently 100% occupied with tenants that have been paying rent $600-$800 below current market rents. The units are in decent, livable conditions but could use some cosmetic upgrades (i.e., kitchen, bathrooms, paint, floors, etc...). Tenants are currently on a month to month lease and after the upgrades, I plan on raising rents from $1,000/mo to $1,300/mo (in thIs city you can’t raise rents by $600/mo overnight, it has to be step function). If I were to try to keep the same tenants, shouldn’t I check first if they can afford the higher rent (i.e., monthly income at 3x rent) or just market the units to the public and rent out to whomever can afford it best? And another question - In BP‘s BRRRR calculator, how do you account for pulling your money out at the refinance stage (at 9-12 months after purchase) and as well raising rents through the years of ownership? Both would inevitably have an impact on your cash on cash return and all components of your CAP rate, correct? Thanks for your help and best of luck with your investing!!

@Dan Bernstein - Great look forward to speaking with you.

@Daniel P. - Thanks very much - I definitely will.

@Caleb Dryden - In Jacksonville I would highly recommend you use JWB Capital as your property manager. Granted they are a turnkey provider - I really believe they are good as it gets in Jacksonville. They have tons of renovated property that you can add to your portfolio and put tenants in them with 2-3 year leases. I wish you the best of luck!!

Hey BP Family! After getting into real estate investing earlier this year, I’ve so far bought 3 SFH in Jacksonville, FL for passive income, I‘m in the midst of finishing up one rehab and about to start another. But I’m now ready to pursue my true passion - investing in Multifamily units. To that end, can anyone please send me contact info or put me in contact with a reputable commercial broker(s) and/or property manager(s) in Washington, D.C.? As well, any tips or advice on renting in this area would be greatly appreciated. Please let me know and thank you in advance for any help!! Pumped to get started!!

@Justin Fraser - As a member of your local REIA team - I wish you major congrats and best of luck moving forward with this deal. Very inspirational story so please keep us up with the rest of your milestones!!

BiggerPockets Pro family!..l am looking to partner up w/a seasoned investor in multi family units. My bkgrd: I started real estate investing 6 mos ago after 20+ years as a financial analyst. I’m in the midst of my first rehab but really have a passion for multi-family. I have great credit & capital ready, so I’m ready to ask a lot of questions & learn a lot through the process. And I can invest anywhere - as long as it’s a great deal. Please hit me up if interested - I’m ready to go to work!

Does anyone know if there is a real estate networking club in Princeton and/or Mercer County, NJ? And if so, can you pls send me the contact info of the person who runs the group. Thanks