All Forum Posts by: Gregory Schwartz

@Nick S. it sounds like this property isn't close enough for you to self-manage. If that's the case I would strongly suggest building your team before pulling the trigger on an Airbnb. STR even more than LTR are management intensive and the host can make or break the ROI.

@Javier Molina , dude, you're military so you know this.  When has a "mildly complex" idea ever been anything besides a cluster? When I was active, the O-4 Good Idea Fairies always tried to re-invent how we did business, and 95% of the time, they overcomplicated a simple process making our lives way harder. We always did better sticking to the K.I.S.S. method

Real estate has enough complexities and none of us are rich enough to need super-secret anonymity. 

Jeff I also hate seeing all that equity just sitting there but you really need to look at where else you can put that money to work that will out-earn the current investment. Make sure we're accounting for the appreciation, cost of the sale, cost of the purchase and one of my favorite factors, the risk. If all of those are taken into account and your money can do drastically better in another property then yes look into 1031. Assuming you can get the loan for the new property 

Its easy to say that an older property cashflows better when you look at a spreadsheet. In reality, most older homes will cost you considerably more in maintenance, capital expense, and vacancy (people just generally like to live in and rent newer homes). But these expenses are hard to quantify. So most investors just throw in the same expense factors no matter the age of the property. Double the maintenance and capex on a 40's built home as compared to a 2010 build home and then let me know if it cashflows that much better. 

Sounds like a bad situation. From my experience tenants like this need to move on, IE move out. Have you asked her why she doesn't like living there and if she's considered moving? 

Rarely is the complaint the real problem. She doesn't care that you manage the property, she cares how you manage it. Clearly, shes not happy and an unhappy tenant usually results in more issues down the road, and you can bet they'll be expensive issues. 

 Smart move. documentation is your best friend :)  Stay safe out there. I worked for a property management company that requires all potential tenants to check into the main office prior to showing as a means to provide a safe showing for the employees. Despite the extra requirements we had plenty of showing and very little vacancy. 

What about being a private money lender for a flipper? It's kind of like investing as an LP in an apartment before buying one yourself. In return for the low interest rate, ask to ride along for the deal. Do this 2-3 times and you should have all the knowledge you need. Cheaper than a guru and easier than learning it on your own. 

A few thoughts, 

- let him know you're unable to show due to your showing policy. Are you not necessarily denying him based on screening criteria 
- Some landlords make it a requirement to view the property prior to letting the applicant apply. We don't have that policy and I don't ever tell an applicant they can't apply I just make sure that there are multiple correspondences documenting our screening criteria. This helps keep me out of hot water with fairhousing. 

Hey BiggerPockets Community,

I'm excited to invite you to our next BiggerPockets Investor Meet-Up here in Bryan, TX!

📅 Date: Thursday, December 12th
🕠 Time: 5:30 PM
📍 Location: Schwartz Realty Group
                       4103 S Texas Ave, Suite 105
                       Bryan, TX 77801

We’re thrilled to have Conner Kinney as our guest speaker! At just 20-something years old, Conner is crushing it in today’s market. He’ll be sharing the story behind his most recent deal and answering your questions about how he’s navigating challenges in this competitive real estate environment.

Come for the inspiration, stay for the networking! We’ll have food and drinks ready. This is a great opportunity to connect with like-minded investors, share strategies, and grow your network.

🎟️ RSVP by replying to this thread or shoot me a DM.

Looking forward to seeing you there!

We don't monitor utilities. What am I going to do if a guest uses too much energy... nothing

The goal is to run MTR for a few years and then convert to LTR. As such my market research is based on longterm rental criteria. Growing population, great employment opportunities, steady appreciation etc.

The best amenity has been location. But we're also finding a high demand for 1 bedroom relatively inexpensive stays like studio apartments. 

Pricelabs and Buildium.