All Forum Posts by: Alice K.

@Alice K. - Thanks for asking. I avoid paying closing costs directly by baking them into the interest rate. Re: your second question, I work with the lender to prepare for the refi when I am looking for a property, so I can pull the trigger quickly if my offer is accepted. Several years ago I refinanced my home twice to take advantage of dropping interest rates. This was before I bought any investment properties. I have done the more recent refis to fund the down payments on the investment properties since most of my capital is in real estate. 

I think now is a good time to refinance if:

- you can lower the int rate

- you plan to have the property for several years

- you have a good place to invest the money that you cash out

Based on what I've been hearing, I believe the Fed will raise interest rates 2-3 times in the next year.

 I hope that's helpful. 

My question is: How did this tenant get placed into this rental unit in the first place? Was it an inherited tenant already there when the property was purchased? Was it you the owner who screened and placed this tenant? Or was it the PM who screened and placed this tenant?

The lawsuit you have now is what it is and will be decided on the merits of each party's case. But you have to determine how to better identify this sort of tenant before approving their application to rent from you. I suspect that somewhere in the tenant screening process, there was a failure to contact former landlords or a failure to research court records for that tenant's name (to see if they are litigious). You want to close whatever "loophole" found in the screening process that allowed for such a tenant to be approved.

If the PM placed this tenant, you might seriously consider interviewing other PM companies to hopefully identify one that has a handle on better screening procedures. Just the fact that your post mentioned the PM for this might not have insurance should be a matter of concern - because they did not take measures to protect themselves in that way; where else might they be deficient?

@Steve B. Oh it would be hilarious if it wasn't an actual lawsuit. They are suing for lose toilet, no screen on a window, non-working outlet in bathroom, pests, hall light not working (light bulb needed to be replaced) and non-functioning smoke alarm (they never replaced the batteries). The numbers are silly but living in CA with very tenant friendly courts I might still have to pay money.

@JD Martin Thanks JD. I figured as much but is good to hear someone else second that it is in the insurance's best interest so I can trust the lawyers to take care of it.

@Bettina F. All good points Bettina. I have all my documentation and I doubt they have any. I'm just making sure I havent missed anything that could trip me up. Remembering to breathe is prob best advice of all!!

@Alice K.

I've contacted @Sean Walton for the next possible meet-up this or next month but seeing that the bay summit is coming up in October he'll more than likely organize again before the major holidays. (Maybe)

It's usually general info on what every attendee is investing in. The first 3 meet-ups, there was usually 5+ that attended including @Jason Hsiao.

Maybe see you at the next one?