All Forum Posts by: Jason Huber

Jaysen: 

Thanks for your feedback / view. It is interesting how you look at these properties by way of more than just condition. You have all ready built in assumptions about the quality of investment, Not that that is a bad thing. 

BTW, You spell your name wrong..... LOL

I would look at this situation and say " How do I make it even better?"..... For me i would take the following steps: 

1. Fire your PM. They did not uphold their contract and you don't need them anymore. 

2. Sit down with your tenant and create a new lease for this property. I would write myself in a monthly guarantee (probably whatever i was collecting in rent before). I would then ask for an additional 10-20% of all revenue generated off of the AirB&B rentals. I would outline their new responsibilities for maintenance and repairs. 

3. Because you don't have lots of time (who does, right) I would have them email me a monthly statement that I can quickly check on the website since I would also force them to assign me "co-host" status. 

4. I would make sure I have rights to the AirB&B web page for MY house. Those reviews are worth gold if I want to continue this model or get someone else to do it down the road. 

5. I would agree to this for about a 6 month term and them re-evaluate how it is working. If I was happy with these results I would then sit down and see if this partnership could lead to further investments. 

To me this is House Hacking without all the work! Not a bad business model. 

I hear all the time about A-B-C-D properties. These letters are used as a guide to describe the condition and the quality of renter one should expect. I get that. My question is, Is this grading subjective or based on a certain criteria? Is it possible that my "B" graded property could be looked at as a "C" grade by someone else? Or, is it because said property has a certain set of characteristics it would be labeled factually in a certain grade. 

Would love to hear about if there is a guideline posted somewhere. 

Thanks for the info on the meeting tomorrow night. I'm gonna do my best to make it there.

Nice to see other Inland Empire Investors here on BP. I currently live in Lake Elsinore. I have several rentals here in CA but am looking to cash out some of my equity and move it in to better cash flow out of state. I have a deal in Indiana in contract now but not sure that is the location I want to stay in. I would love to get more information from you all on this meet up in Riverside. What is the premise of the meeting? Speakers or just networking? I am really looking to get together with other CA investors about a solid Out of State investment strategy other than turnkey. Would love to hear all of your thoughts and maybe join yo at some of these meetups. Thanks

Like others in this thread I too have a cabin up in Big Bear. I have had it for abut 3 years. I have this as a guilty pleasure as my family uses the cabin as a get away and we rent it out to recoup the costs. I have been using one of the larger PM companies up there as it is a unique business. I have mixed emotions and results with this company. I am most likely going to go another direction soon. If you would like to reach out I can walk you through our entire buying and now renting experiences.

Originally posted by @Devin Haertling:

Jason Huber

We found the property first and then contacted 4-5 agents through Zillow and she was the first to respond.

 That is my point. You contacted an agent. She was the one that responded because that is her job. I get that you are trying to make it right on your end and I think that is noble. However, the person you are making this deal with is transferring title to their daughter to avoid paying commissions on a contract they signed.  I wont do business with people like this and I feel that by accepting that deal you are somewhat of an accomplice since you are aware of the situation. 

My personal opinion..... I think its unethical to make this deal and bypass the realtors. They have put a lot of work in to bringing you two together. Without the two of them you two would never have met. I could not pull the trigger (even if it was the best deal ever) knowing what the seller is trying to do is wrong....Again, Just my personal opinion. 

Hey BP team: I am in contract on a multi -family in South Bend Indiana. I am out of state, and this is my first purchase in the area. I am looking for any recommendations for a PM in this area. Any lead would help. Thank you in advance.

Happy Father's day to all.