All Forum Posts by: Rodolfo Diaz

Does it ever make sense to pay "rent" in a multifamily in which you are an owner/occupant?

I am curious how an owner-occupied unit shows a rent history if the owner does not pay rent.

Is there ever a business justification for this? Example if the property is owned by an LLC and you have a corporation that "manages" the property's other units, you can charge a % fee on the rent (I believe). But if you as the owner don't pay "rent" on the unit you occupy you cant charge against that unit.

I guess in the case that it is managed by an External Property Manager, not paying "rent" on the unit is good because that is money you save?

Maybe not a well thought out question or topic. Could be the exception to "No such thing as a dumb question" cliche. 

Let me know your thoughts.

Kyle,

Yes I am hoping to find a smart purchase. I am open to location so long as the terms end up in positive cash flow eventually when all units are rented (after I am out of the one unit).

Seems to be a wide range of pricing and rents. Plus I may be overly conservative on some of my number crunching (to the dismay of some RE agents out there). 

This is my first MultiFamily purchase so I want to make sure that it is the right first step.

Thanks for your input

Danny

Mark 

At the moment I have flexibility to live in or around Nashville. Prefer to keep commute less than a hour.

I can work on 1 unit (the one I live in) but the other unit(s) need to be rent ready or already rented.

Going into this my mindset was duplex or triplex but I may have to consider other possibilities 

Price range really depends on the opportunity that the deal presents. So far it seems like prices for units in Nashville are thin on cash flow.

Thanks

Garret thanks for the insights. Certainly appreciate your perspectives!

Awesome Matthew will do!

Looking to connect with folks that have knowledge of Nashville and surrounding areas.

Transfering for work and wanting to couple the move with a buy and hold investment. 

Thanks!

Danny