All Forum Posts by: Nazimuddin Basha

Quote from @Clayton Silva:

Hey Nazimuddin,

Sorry to hear about the increases, no one likes that for sure.  A couple ideas below:

- Have tenants pay utilities if they don't already

- Refinance into lower rate

- Increase rents (or convert to mid term/short term rental or rent by the room)

- Call the county tax assessor's office to ensure there was no mistake in the tax increase

- Call your insurance broker to get you other quotes

- Sell the property and 1031 into a better market that does not have those issues

- Self manage if you currently have a property manager

Hope these help!

@Clayton Silva, thanks for your feedback! Here are my responses to your questions:

• The tenants are already covering their utility expenses.
• I’m considering refinancing, though my current rate is 2.75% on a 15-year mortgage, which is still better than what’s available today.
• Unfortunately, the condo associations for all my properties don’t allow short-term rentals, which has been a bit frustrating.
• I manage all my properties myself.

As you mentioned, I need to start exploring other developing markets. With property prices rising across the country, it’s becoming challenging to find investment properties that offer solid cash flow.

Hey everyone,

I’m looking for advice on an issue I’m facing with my rental properties. Recently, my property taxes and insurance costs have increased significantly, turning what was once positive cash flow into negative cash flow. I’m sure some of you have faced similar challenges.

Aside from raising rent (which can be tricky depending on the market), what other strategies have you implemented to get back to positive cash flow? I’d love to hear any ideas or creative solutions that have worked for you!

Looking forward to your insights!

Thanks!

@Nandy B. Thank you for your suggestion. I will surely talk to the village.

Hello everyone, I am a newbie to the forum but I have been following biggerpockets podcasts and reading their books for over a year now. In less than 2 years, I bought 5 rental properties with decent cash flow. I am planning to get my hands on the 2 unit multi-family. Unit#1 has 2 bed and 2 bath, unit#2 2 bed 1.5 bath. Both units have separate water, heater and electricity meters. Additionally, there is a basement with a kitchen and cabinets, 1 full bath, washer and dryer and a refrigerator. I am thinking of converting the basement to additional unit but I am facing problem with Zoning restriction from the village. It comes under R2 zoning which allows 2 units only. Also adding additional unit requires separate water, heater and electricity meters which requires village approval which requires zoning conversation (I assume). 

I was hoping the creative minds in this forum share their thoughts and ideas, which will help to increase the cash flow and better ROI and COC.

Thanks,

Nazimuddin