All Forum Posts by: Chris John

@Alex Silang

That's a great question.  I love Dale Carnegie's negotiating advice in "How to Win Friends and Influence People."  It's an old book, but I believe the information is timeless.  I'm not always comfortable negotiating, but I've used his strategy of being complimentary and honest several times and have been very pleased with the results.  I'd encourage you to look into it.

Best wishes

@Karen Margrave

I think we agree on a lot of points, but if the government wants to subsidize these people (which it apparently does) they should probably put them on a bus to greener pastures.  I keep hearing about how people in California are homeless because rents are too high.  That is ridiculous.  People are homeless in California because there aren't enough properties to house them, which is driving the prices up.  It's not a chicken or egg argument, there's clear cause and effect here.

Allowing them to pitch tents on sidewalks, park wherever they'd like and live there, or live under overpasses isn't compassionate or effective (I realize you're talking about a different subset of homeless, but let's be honest.  There's a lot fewer of the homeless that you speak of and they won't be endemically homeless either).  California either needs to allow builders to increase supply (maybe without such onerous building fees and permits) to meet demand or, again, give these people a bus ticket to some of the cities that have declining populations and vacant properties.

I don't squat in Beverly Hills because I'd like to live there, but can't afford to.  I just live somewhere else. 

Honestly, with stuff like this, it's not even about the money for me.  When I was managing my own properties, I made the decision pretty early on that I'd rather rent to a blue collar worker than a Section 8 applicant.  I've made my feelings known to my current property managers, but haven't actually verified that they're following this strategy for me (it's not a rule and I don't have some crazy vendetta or anything).  Anyway, I'm sure it's cost me money in the long run, but who cares?  I support what I want more of and, for me, that's people that are willing to work for what they have.

@Matt Anderson

This unsolicited suggestion is worth exactly what you paid for it, but have you considered Robert Kiyosaki's strategy of buying an asset to pay off a liability?  Maybe apply that 50k towards a property and let the cash flow from the property pay the student loan debt for you?  That way, you will still have paid off your student loan debt (on an income statement - not a balance sheet), but will also have an appreciating asset for the future?

I'd be hesitant to pay off a student loan early as they're typically at favorable interest rates.  Anyway, I know this strategy isn't for everyone, so congrats on saving that much coin in the first place as that's quite a feat!

@Wale Lawal

Great thread.  I'm excited to see what people say so hopefully I can learn a lot.  I would say that my two biggest mistakes have been:

1.  Not understanding the importance of appreciation (and focusing too much on cashflow) as early as I'd have liked.

2.  Trusting my tenants too much.  It was a blessing and a curse as we've had some absolutely amazing tenants.  I truly believe we've been able to bless their lives as they've blessed ours and it was always exciting to lose them to becoming homeowners themselves.  However, there have definitely been some tenants that have taken advantage of that trust, so now, we run it like a business.

Serious question because I'm out in California where a "For Rent" sign will generate 10 leads (forget about what happens when you post something on the Internet).  Are these stories of having pit bulls forced upon you because you only get one application or something?  Can't you just say something like "we had several qualified applicants and, unfortunately, could only choose one"? 

We have one insurance agent for all of our Cali properties and one insurance agent for all of our Florida properties.  It's difficult for me to imagine being excited about insurance agent shopping so that one perspective tenant, as a one off, can hug their pit bull whenever they want.  It's farcical.  

@Nathan Gesner

I'm sorry for the confusion.  My comment was in regards to @Account Closed 's comment about service dogs and not the emotional support animal conversation.  Again, I could be wrong on my guess because although I haven't seen a pit bull service dog yet, that certainly doesn't mean there isn't any...  I'd be way more inclined to try to work with a pit service dog over an emotional support dog though.

@Nathan Gesner and @Account Closed

And, I'm totally guessing here because I honestly don't know, but they probably won't be a pit bull.

@Evan Swanson

Most people aren't actually trying to get ahead, so it makes it pretty easy for those that are.  This world is yours if you're willing to go take it.

As an apparent bad guy, I'm very thankful that there are so many people that are apparently willing to work with people in this situation.  I'd do anything and everything to find a different tenant, so it's great to know that they'll be able to find a place from one of y'all anyway.  Makes me twice as quick to say 'no'... errr, I mean, "Sorry, I found a more qualified candidate" when I'm next confronted with something like this.