All Forum Posts by: Mrinal Parashar

@Nathan G.

I need to add that in the lease. The lease says that the lease agreement started on Aug 1st , and it says that the lease term ( commencement date) starts on Aug 05.

I think this is where the problem arises- tenant is saying that the lease does not start till Aug 05.

I have a situation where the tenant signed the lease and paid the advance. They contacted me today and said that they don't want to move in and want their full deposit back. They signed the lease on Aug 1 and are supposed to move in tomorrow Aug 05.

What should I do?

@Gisell Garcia

I use zelle and deposit only cards. One of my tenants uses cash app now and then.

@Chris Levarek thanks . I see your point and totally agree with you.

@Curt Smith thanks. This is very helpful. Since I posted this question, I realized that there is some commitment or trust issues. They also want 15% return on their money because someone told them they could get that in Atlanta. We already moved to 10% property management fee.

I also started reading few books on syndication.

@Cody Lewis thanks

@Ben Mosh can you do a 1031 exchange?

Two of my friends approached me and want to invest with me in real estate. I told them we can do a small deal and see how it goes.

The problem I have is- how much does an individual put in and how is the profit distributed? Also how is the equity distributed once the property is sold.

My wife manages my properties, so she will manage this property as well. She prefers an equal partnership in the deal instead of the 10% management fee. (without putting money down)

Any advice and help would be appreciated.

@Varinder Kumar Were you able to find the answer to your question? I have same questions.

@Joe S.

No. If you do, tenants expect you to replace them when needed.