All Forum Posts by: Ash Patel

I have always managed all of my own properties (NNN, STNL, office, MF, residential, warehouse, medical etc). As far as software for CAM, I use Excel to create the year end statement. You asked about monthly statements, I have never had a lease that required monthly's. True, each lease is different and as Joel mentioned, there are often amendments to consider, handwritten notes that are part of the lease etc. Big ticket items like roof are often amortized over 20+ years so you have to keep a running count of those costs. It is time consuming but I can get the reconciliation done in one weekend/year. I am a full time investor so I like not having a property manager. Every tenant has my cell phone number and I think each correspondence is an opportunity to impress your tenants. Not saying this philosophy works for everyone but I have found it builds loyalty.

This is a pretty run of the mill deal.  You can find these all day long.  If one/both tenants don't renew, you are left with some pretty costly dirt.  I would recommend you pass on this.  If you are young trying to grow capital, this is not the deal for you.  Since you are young, find a value add deal, not one that simply yields mailbox money.

How about storage?  Lots of different storage solutions out there.

I went from a 15 year career in IT to mixed use to retail to single family to strip mall to land development to office etc.  The first one was multi-family over retail and that led me to focus on commercial.

@Terry Lao - I know its very difficult to time the market or atleast time the stages.  Thanks for posting that chart!

Thank you everyone for all the different perspective.  I didn't realize how paranoid I was from the last couple bubbles.  I truly appreciate everyone's input!

@Andrew Johnson  as @Michael Hayworth pointed out DFW is absolutely booming.  The boom is less from speculation but more from demand and lack of supply.  The MF syndications I am in are value add properties, the type that would benefit initially from an economic downturn.  For me, its a way of parking money and keeping my finger off the buy trigger.  I am also well diversified.

I have been putting profits into MF Syndications in the DFW area.  Those will tie up funds for five years.  The plan is hopefully at that point there will be more buying opportunities.  I agree that there is no way to tell the peak, this market can keep going strong for some time.  

Good points @Michael Hayworth, I also lived through the last two crashes.  I think that has a pretty big impact on our decision making.

I am mostly a non-residential commercial investor. I have sold half of my commercial holdings and wonder if I should start selling the few SFR's that I have. The prices have increased roughly 50% from when I purchased them. The dilemma is how much more upside can this market endure vs. what is the downside risk? My philosophy is don't get greedy and no one ever went broke from taking a profit. Would love to hear your thoughts.