All Forum Posts by: Gene Mattos

@Dylan Vargas mentioned a bunch of good markets.

I've had decent luck in Sacramento as well. After a while, I got tired of driving 2 hours whenever something needed to be done, so I ended up hiring a property management company out there. Not yet sure if it's worth it, but I'll give it a year or so before I consider switching back to self-managing.

I am in a similar situation with a condo in San Jose.

There are multiple factors to keep in mind. 

1. Do you believe the housing prices will continue going up in the Bay Area?
   1. If yes, definitely keep it, as it will not only add to your income, but will also grow your equity.
   2. If no, sell it, take the money, and invest it elsewhere. 
2. Is the property giving you any trouble?
   1. If it's in a good improving area, and the tenants aren't bad, keep it.
   2. If it's a headache to manage, sell.

So a car drove through the wall of my property recently. 

I already got the estimated from the independent adjuster, for about $10,000, and I'll be getting a check for that in a few days. 

How do I go about finding the right contractor for the job? The ones I called say they work directly with the insurance company, which I feel gives them no incentive to come up with a lower bid.

Can I just find a contractor to do the work for less and keep the difference? Would there by any legal concerns here?

I've had some bad luck with one of my properties in Sacramento. 

A drunk driver hit the side of the garage and caused quite a bit of damage.
I'm also looking to repair a large crack in my driveway (per insurance requirements). 

Can you folks recommend a contractor in the area that you trust to take on these jobs?

Merced is not really where I would want to live, mostly for personal reasons.

If I get priced out of the Bay Area (due to job loss), there are more appealing options out-of-state for me. On the time vs money trade-off, I'll always pick time. I'd rather pay more to live closer to my work than save money and spend 2-3 hours commuting.

I was very disappointed to see a NY Post garbage article on BP. 

Can we please find better sources to back up any inflammatory thread title we use?

This was a little late notice for me, but I'd like to come out another time.

Zero. I work full-time and don't have the time nor the patience. Cashflow is lower, but I don't have to deal with too much ********.

There are a number of things you can do:

• Pet rent (basically a rent increase). I used to charge $50 per pet. The property was renting for $2200, so percentage-wise, this was fairly low.
• Pet deposit (in addition to the standard deposit at the start of the lease)

I think the biggest issue with pets is the added liability. Most insurance companies will never insure a property where a tenant has certain breeds of dogs. Huskies are fine, but please keep the liability in mind when choosing to rent to pet owners. If someone gets bitten by the dog and they sue, insurance may not even be enough to cover the settlement.

I love dogs, and am a dog owner myself, but I would prefer not to take this risk. There are many many terrible dog owners out there. However, keep in mind that my properties are in Bay Area where it's easy to find renters, so your mileage will vary.

Hey @Jon Quijas, just curious, why did you choose the KC market for your out-of-state investments?