All Forum Posts by: Ana Marie B.

Thanks @Mark Gallagher. We’re actually the 4th house that has closed, but only the 2nd to have moved-in some of our belongings (we’re waiting to move in valuables until we have a security system in place, which requires a landline or internet...). 

I get what you’re saying and was afraid to hear that. Sucks that it requires several owners to push Comcast to finish adding our homes onto their grid.... Whatever happened to good old customer service? 

As to our contract, I’m not sure if internet/cable was specifically mentioned. I guess it’s one of those things I didn’t pay attention to, as I’m used to purchasing longstanding homes that already have internet lines set up. Live and you learn I suppose *sigh*

Hi BP Fam! Need some help here. My husband and I recently purchased a $1.5M SFR that will be our primary home (we rented-out our former SFR). This new house is a new build, that is part of a 9-home development. The builder is what's known as a small builder, unlike KB Homes and other more prominent developers.

We closed on 7/17/18 and began moving in on 7/18/18.  Our agent (who also happens to be the builder's agent) informed us on 7/17 that there was some delays on getting internet/cable installed due to the cable company (Comcast's) fault, but that internet lines will be installed underground on 7/18/18 and we should be good-to-go after that.  Sure enough, while moving-in on 7/18/18, we saw Comcast outside of our house digging and laying the internet/cable lines. 

The next day, we called Comcast to start internet service. Comcast rep. said we should wait 3 days, as our address is still showing as "Unserviceable" in their system.  Fast forward to 7/27/18 -- We decided to go to a local Comcast branch to inquire about internet service.  The Comcast rep. tells us that not only is our address still "Unserviceable," but also that our development will not get internet service until April 2019!  Our jaws dropped.  

QUESTION:  What do we do from here?  I'm in contact w/ a Comcast Branch Manager who said he'll contact their "Tech Ops" unit for a resolution.  I've also emailed our agent about this several times and he swears the builder is going to address the issue ASAP.  Do we have any legal recourse?  

Thanks in advance everyone!  Apologies for the long-winded post.

@Jenny Bayless - I opt for individualized showings.  To help reduce the # of no-shows, I agree w/ Anthony Wick in that you should phone prescreen your prospects by verbally asking them questions or emailing them a couple of short questions (i.e. When are you looking to move-in?).  You can do a quick google search to find a concise list of questions.  Only those who respond favorably to your questions would then get an invite to an individualized showing.  Note that these methods don't ensure 100% show rates, but in my experience, greatly reduce the # of no-shows. 

Another option I recommend is to hire a seasoned leasing agent who can handle all showings, up until the point where keys are handed over to tenants.  Then, I take over management of my property.  I find that the cost (usually 75% to 85% of the 1st month's rent) really outweighs the headaches.  Good luck to you!

@Ryan P. Kotschedoff - I'm impressed.  You're only 16 years old and already asking such prudent questions!  Anyhow, I don't know enough about commercial real estate to provide any comment there, but can say that I already see tech companies delving into the residential side.  While I don't believe tech will be the end to residential realtors, I do think that whatever you do, it would be wise to adopt and learn new relevant RE technologies along the way to stay ahead of the game. 

PS - I know realtors who did not adapt to technology and are now having difficulty maintaining a portfolio of clients, especially millennials who want everything done electronically, etc.

@Brian Hughes -Yes!  Thank you for the excellent tip!  We did try this after calling around and learning about other PMs' lower rates.  Our current PM works for a brokerage and was unable to improve his rates much.  

@Gideon Sylvan -Sorry for the delay, but I was busy during the holiday.  Anyhow, thank you so much for the reply!   I always compare requests for PM referrals to CPA referrals -- not very many BPers are willing to give out this cherished info. for fear of their PM or CPA getting too busy (and raising fees!).  

I'll reply to your private message.  I was looking for a PM who charges in the 7% range, as my current Seattle PM charges 8.5%. However, the other terms you mention are much, much better than my current terms.  I would be open to at least chatting with Enrique.  Thanks again!

Hi BP Fam!  I'm looking for an awesome property manager in the Seattle, WA area that is on the smaller scale for my two properties.  I like to avoid having too many different points of contact. I prefer to email or phone my PM and be able to speak with him/her and not a receptionist or a differ. PM I have no knowledge of.  It comes down to preference. :)

As background, my current Seattle PM is AMAZING....however when I signed the PM Agreement 3 years ago, I was a novice and didn't have a good idea of average PM rates in the Seattle area so I didn't negotiate terms.  I'm paying 8.5% of the monthly rate for starters and a hefty lease renewal fee for stable tenants I have had for the last 3 years.

By comparison, my San Francisco Bay Area PM only charges me 7% per month for a rental in South San Francisco, CA.  Any recommendations would be much appreciated!  I looked on Yelp and primarily saw larger-scale PM businesses.

Thanks in advance!

@Aaron L. - Welcome to BP and the addicting world of real estate!  I'm also from CA and understand the reasons behind out-of-state (OOS) investing.  I don't have an answer to all of your questions, but do want to point out 2 things: 

1.) Obviously videos and Facetime can help you view properties remotely, but unless you have a very trustworthy RE in the state you wish to purchase in, I would advise you view the property before submitting an offer.  What I find is that some REs don't see or observe details such as a creepy alley next to the house or a sunken garage that may lead to future flooding issues, for instance.

2.) I would advise against renting to friends/ family.  This can get messy. 

Anyhow, best wishes on your RE journey!

@Leo Kotschenreuther - To your question about what you could have done differently, I would answer perhaps conducting more thorough research about the city/town/neighborhood you plan to purchase your out-of-state (OOS) rental.  I have never heard of Roofstock.com, but I would never simply rely on their data or research.

When I bought my first 2 OOS rentals in Seattle, WA, I made it a point to do thorough research online and at the local bookstore.  I researched everything from crime rates and local attractions to earthquakes and flood zones.  Obviously there are unforeseen acts of God that we simply cannot prepare for, but so far so good. *Knock on wood* 

Anyhow, just my $0.02.  Best wishes on your next rental!

I'm a bit late to the party, but here goes:

• Do you live in California? - Yes
• Have you lived in California in the past 5 years? - Yes, all my life
• If so, where? South San Francisco
• Will you be staying or leaving? Definitely staying
• Why? I travel extensively around the world and often try to imagine living in the various cities I visit.  After a couple of weeks, I honestly become homesick and want to return to the SF Bay Area.  The cultural diversity, stable weather, and food scene are just some of the reasons.  We have some of the most authentic Asian food around -- Chinese, Japanese, Korean, Filipino...  you name it, we got it! My family/ relatives also live in the area, which is a big deal. Everything and anything you can possibly want can be found in CA -- from snow and desert geographies, to Japanese anime and Star Trek meet-ups.  I love it here.  This is home.  I'm very fortunate to already own real estate in CA.  I do feel for those who are just getting started. 
• What is your full time income producing job? My husband works in tech and I work in local government.