All Forum Posts by: Sachin Amin

Hotel for me - I need my hot breakfast every morning when on vacation or business trip :-)

Hello Fellow Investors

I own units in multiple states and with costs on managing properties going up(materials+labor) I usually bump up 3% on rents - that's 30$ increase on a $1000 rent (I know it depends on location and other parameters but is there any general thumb rule on how much to increase each year, becuase with every other cost going up to maintain the property its logical to increase the rents, would you all agree??

how are you dealing with managing costs and how much % are you increasing in 2021 ?

thanks

Sachin

@Misael Carlos Vera

This is where your passion to make wealth for yourself comes handy :-)

People will always say things..it’s your belief system and how driven you are to make wealth for yourself every thing else is jitter

@Casey Powers - I hope my property managers think the way you do :-) lol..

@Casey Powers 99.99% proformas I have received from turnkeys or realtors are inaccurate most are speculated to attract investors - we will know the actuals only "when rubber meets the road" at least that's true in my case - but I rest my case as I don't own any units in LV market yet :) :)

HMLs are difficult to crack unless you have prior relation with them (they are always looking for collateral) - have you considered HELOC for your first project?

@Joshua Castillo - remember you will be spending appx 3k for next tenant (rent ready expense) - but if LV tenants move in to the house as is condition - you hit the jackpot :-)   (feel free to look at my other post for more insights - https://www.biggerpockets.com/...

happy investing...

@Account Closed  Spot on :-) :-) 

@Casey Powers what are the avg rents in LV - I am sure depends on Zip codes but on an avg 2 bed 1 bath unit with 1200 sqft - what would it go for ? (I use rentometer.com for rent analysis to determine rents across all my properties nationwide.)

@Casey Powers my thumb rule is 1% rule to break even - anything more than that is bonus(passive) :-)