All Forum Posts by: Brian Lacey

both are important.

Cash flow is passive income (generally speaking).

Lumps of money come from a JOB. 

I enjoy my W2 job. Some don't, and start a new job in RE. 

I'm a big fan of @Ben Leybovich and his approach. If it's not passive, or will result in passive income, I'm not generally interested in it (this is not an absolute rule, there are exceptions) because it becomes work.

Pictures/Examples/Numbers of/on any of these properties?

Your experience with the government is very different than mine, based off your comments.

 I got the gist of the point. Then got into the meat of the article. 

 I like the proactive nature. Cash for keys is a good idea. One step back, two steps forward essentially. 

http://justaskbenwhy.com/2015/10/28/how-much-does-...

I read @Ben Leybovich 's article today. It's obviously a bleak picture being painted in the article, but that's the reality of evictions. 

This may be naivety on my end, or my undying optimism, but how can we make this a win/win?

Is it something we (investor/PM and renter) can assess prior to reaching this point where emotions get too high?

No wins in the situation painted in Ben's article. It's clearly a volatile situation, but can we take steps to helping tenants find more affordable housing?

Essentially, what I am proposing is a mutual break-up to put it in layman's terms. Investor/PM find a new tenant, renter can walk away, and deal with their new situation accordingly? Possibly us, putting them in contact with other local investors/PMs?

The obvious caveat is that this tenant has been a role model type tenant, but just fell on hard times. Why would we allow this situation compounded and snowball into the nightmare that was detailed in Ben's article?

Any thoughts, or experiences? Maybe I'm just a schmuck (that very well could be it) lol. 

What you're thinking about doing is called "House Hacking", coined by BP's own Brandon Turner.

Tons of threads about it, search "House Hacking", loads of info.

Great idea, but be sure to remember that you're running a business. It's your *** on the line with that property, so be careful who you rent it out to.

- In that case, grad students, are probably your safest bet.

Hi, welcome to BP. 

I'm from San Diego as well, and living in Korea teaching English. 

Happy investing, and tons of resources, and info to utilize on BP that may help with your interest in the SD area.

Nancy, I'm looking at turnkey as well. One thing to also look at, is to find out who from these turnkey companies are active on BP. I know, I'm working with Norada right now on a property, and their founder Marco Santarelli is a frequent visitor to the BP forums. To me, that speaks a lot to the issue of credibility. Not to mention the other various associations, and appearances on podcasts.

Welcome fellow San Diegan! 

If you're looking for a podcast, I can't say enough good things about fellow BP member Joe Fairless'. His podcast has such great concise information about all niches of RE. 15-30 mins, can knock a bunch out throughout your day.