All Forum Posts by: Isaac S.

age old RE argument...both sides well stated! please keep us informed of the the choice and outcome

Originally posted by @Paul Moore:

Hi @Isaac S. and others. I have had a bad attitude toward Delaware Statutory Trusts (DSTs) for a long time... with their high fees and low returns. But once I studied them more I learned that the returns can often be more predictable and strong than many other investments. And there are now some options to directly invest in a DST with a sponsor without paying the heavy front-end loads and commissions that weaken the investment. I am glad I looked closer.

 Hey Paul,

Thanks for chiming in and keeping the thread going!

I'm not sure if you have read any of my previous posts, especially at the top of this page.

My primary issue with DST market and process is: I find that it's very annoying to require accredited investors, and then make them jump through hoops before OM or actionable information is available. it's been my experience that 90% of the DST market is not that attractive to an investor like me, and that's why they keep things so cryptic and difficult to accrue information about each offering.

I would be surprised if the majority of the DST customers bass is not mostly people that are too far down the 1031 path to do anything else, retired and just don't want anything to do with RE fee simple interest, or less sophisticated investors that have high enough net worth to satisfy the "accredited investor" criteria.

Are you a DST broker? Do you personally own DST? How long and how much invested?

I'm curious to hear your experience.

You guys are funny....there's a freakin pandemic....there is no fair housing agents/lawyers trying get discrimination cases started on an issue like this! But, it was funny to see you guys get all aggro towards each other.

Oh, and by the way...in SF:

3 people share a tent

3 people share a needle

3 people share a partner

you may not go to hell for such transgression...but definitely purgatory!

Repent now before it is too late!!!

ooouch, i just fell off my soap box

Is it wrong for me to chime in on this thread with snarky irrelevant humor?

Depends on you granite cost....her in LA its only a $120 for a finished 9 foot piece and back splash, Bainbridge Brown the most basic color-pattern. Cost more for delivery and installation than the counter.

I have installed formica from big box and granite....formica is way more forgiving and easier for one man to do solo....granite must have at least two guys and one must be very skilled with an angle grinder and have the correct polishing and cutting blades.

depending on how competitive the market is, it can make the difference on attracting the primo tenant, and some tenants don't even notice or care about that specific feature.

good luck!

On a related note....recently reported religious artifact found thought to be the eleventh commandment....

11. Thou shalt install shelving upon request!

Originally posted by @EJ K.:

She has people buying some of the items she’s removing. The rest is an FU to landlord. She was there 13 years and once covid hit was harassed about payment.

She probably added 6 figures of upgrades through the years without rent break. 

Hey EJ,

Sorry for the hassle you are going through....honestly, this all kind of comes down to the above quote.

I understand what you are saying about the "sweat equity" that was a labor of love, that your MIL put into the place...but, at the end of the day, it is a business and businesses have very specialized highly detailed leases that spell out every little thing the tenant pays for and the landlord pays for.

The stuff you are talking about is exactly what is covered in a commercial business lease, and the reason they cover that stuff is specifically to protect the amount of time and money you invest into developing a business and cultivating that business and it's associated location. Unfortunately, when you don't go over those details and protect yourself, on the front end, in a lease contract, you run the risk of adding value to an asset that is not yours, and the landlord eventually realizing they can now get much more rental income from your sweat equity.

Sorry for the harsh lesson, but, you should not do anymore "...FU to the landlord..." type of stuff....and try to end this amicably as possible, or risk being even more expensive after adding your legal fees and the landlords legal fees and damages.

Don't let pride or self-righteousness add more fuel to the fire, it only makes it sting and cost more.

Best of luck! Stay healthy.

Originally posted by @Manuel Luz:

Originally posted by @Isaac S.:

Cash for keys start at $1500-2000 and be willing to go to $3000, you are paying her about one year worth of the difference of the increased rent, it has to be enough that she can afford to move and enough extra as an incentive...Also, don't overthink it....let her stay, if she is paying, it's the devil you know....and deal with evicting her and getting market rent after the lockdown is over.

Just my 2c

good luck, good health

Thank you I think you're right in just letting it be for now. She is fixated on this town and she wants her kids to continue school here so I dont think any reasonable amount of money will get her to move and honestly dont think anyone in this town would take on her situation anyway.

Ultimately I'm wondering what would be the most direct path to getting her out, pricing her out of the place with rent increase vs just asking her to leave with a 30 day. Either way were going to be going in front of a judge again 

Yeah, that's the million dollar question, isn't it? I would definitely raise the rent as soon as possible/legal. If she will pay market, no need to get her to move.

You are gonna have to develop thick skin and short memory for managing apartments. I have tenants that have tried to really jam me up, calling the code enforcement and saying all kinds of things, some half true and some just flat out lies...that's part of the biz, and you have to do your best to not take it personal and to realize that it's the only option for otherwise helpless people that do not have any resources like  money for lawyers, or money to move or send their kids to a private school, etc.

I'm not saying you shouldn't have those things, I'm just saying they don't and they know it and it makes them me feel helpless and therefore be prone to do goofy stuff like call code enforcement instead of talk to you.

I guess what I'm trying to say is that in the beginning of my career as property manager investor, I really would want to control this crazy problematic tenant and get her out asap and would have been insulted and offended at her creating this adversarial climate by calling the code enforcement, etc. But, now I just try and let go of that defensive feeling and need to control the problematic tenant. Just keep it professional, keep good records, and do as much correspondence in writing, as is possible.

These things have a way of working themselves out.

Hope this helps and best of luck!

Cash for keys start at $1500-2000 and be willing to go to $3000, you are paying her about one year worth of the difference of the increased rent, it has to be enough that she can afford to move and enough extra as an incentive...Also, don't overthink it....let her stay, if she is paying, it's the devil you know....and deal with evicting her and getting market rent after the lockdown is over.

Just my 2c

good luck, good health

Sorry, don't know...but, I think if you are going the HUD route, just ask the HUD representative....you will find that if you are a reasonable responsible landlord, most HUD policies and employees are just helping you to use best practices and keep your property in proper condition.