All Forum Posts by: Angela Yan

@Dylan Mathias I agree with you. The wages are just not climbing enough to sustain how expensive everything costs. As oil prices goes up, everything in the Walmart stores will go up. Also we must add to that the baby boomer generation is getting older and most of them don’t have any savings but yet they left behind generation X, which is not enough of them to service the needs to take care of them as for example in healthcare. There will be an extreme nursing shortage and also I might add a truck driver shortage. These fields of industries are just not sexy enough for the millennial to train to do. I don’t know how bad things can get but a correction is eminent.

I agree with HELOC. Hands down.

1) less fees 

2)you don’t want to start the amortization clock over again with your property in which most of your payments are all going into interests when refinancing.

3)once you pay down your debt with HELOC, your credit line is available again for more draws.

@Account Closed. LOL. Yes! Task rabbit is that service  perhaps people can get you that chicken noodle soup if you are sick in bed and no one can be there for you. 

It is a site for anyone that can work as much as they want creatively or on their own time. There are actually many small employers that are starting out but can’t afford to start payroll on some small jobs to get the work done by hiring privately. No BS benefits or taxes etc. 

What I see that is different in this economic cycle compare to the last is that people are able to work despite not having an employer.  During 2009 when I bought my condo in SF, to supplement my vacation income, I signed up with a company called Air BnB to rent out my place when I was gone.  I locked all my things in one room and hosted many guests with this property giving me great incomes over the years.  

This time around many people are no longer applying for traditional jobs interviewing all over the place.  They are simply free lancers, driving for car shared companies, or becoming Task Rabbiters and Thumbtack professionals.  

I think as an investor it is important to accommodate these people in my income properties.  Currently I am doing a fix and flip in which i am setting up the Master bedroom being able to lock off  apart from the rest of the house in case my potential buyers need it to do his or her own Air BnB.  

Also I am seeing that there may be a lot of good tenants out there that doesn’t have W2s and it is important to see the whole picture as to how they get their income from their “gigs.”  

What do you think is still driving this economy and what are some investors doing to prepare for the next down turn?  I would love to hear your thoughts.  

@Brandon Wilson thanks for the research. Having an Air bnb in SF since 2012, I can see the city's challenges with STR. Now that Air bnb is no longer an option for me, my income for my property which is 2 blocks away from the convention center has taken a hit.

I am seeing property values suffering in places like Lake Tahoe as it became stricter on their STR laws. Without the supplemental income on the for sale properties, the value is not there and people are dropping their prices.

I hope cities like Atlanta can see all sides before jumping into forcing huge restrictions on this. 

As for my personal situation, hotels in my area are now charging way more because there are simply less Air bnb for rent. Hotels win, small property owners lost. 

@Jason Tucker.  I hear you regarding turn over service.  I trained my housekeeper whom has been cleaning for me for about 10 years to do it.  I think you just have to interview a bunch that you trust and create a team for yourself.  But I love the turn overs once it is set up as it means my cleaners are in there taking care of the place.  

@Dennis M. and @Terre B.  Thanks for the feedback.  I am getting my PM to price out for a fence too because my dumpster is ugly and I think it will look better.  I think a sign that says “Smile, you are on Camera” will get people to think twice about what they do around this dumpster.  

I keep getting citations from the city for people illegally dumping near my dumpster on one of my Multi units.  These people don’t even leave their junk into my dumpster and just leave it right next to it making my property unsightly and even unsafe.  What are some of the interventions you have done to prevent this?  

@Rick Baggenstoss thanks for the discussion.  Currently is Atlanta charging hotel taxes etc.?  I am a veteran Air BnB Superhost in Sf that couldn’t do it any more due to new city codes which is a big hit for me this year.  I hope Atlanta doesn’t shoot themselves in the foot by outlawing Short Term Rentals as there are needs if the economy continue to grow.  

@Sara C.  Great point with the university and hospitals!  I love areas that serve those needs.  My place in SF is 2 blocks away from the convention center and it is rented on a weekly basis with a 5 day minimum.  But god, I miss my ability to keep doing it due to new law ordinance in SF. 

@cheryl

@Cheryl Wilson and @Anna Watkins, Thanks for the heads up on the Atlanta Market.  I am so impressed by how much it has to offer.  I have had a successful AirBnB gig until SF outlawed it to just only 90 days for the entire home so good to know that Atlanta has some niche on it.