All Forum Posts by: Jules Aton

If you provide actual numbers I think you will get more responses and ideals of options. Multi-family and commercial properties can be difficult to sell, so I often cringe at inexperienced investors jumping into these deals but on the other hand with three units there should be room for creative changes to increase your bottom line if you want to keep the property. 

PS. I though CA RE grew to the sky? ;) 

Maryland has tenant right of first refusal so I'd look into the current regs to ensure you are in compliance. If your place needs work do you think it can go FHA if your board allows? That is a consideration and would cut out a percentage of buyers in this price range. You also might consider owner financing for your current tenant if you are financially able.

50% up front is standard here and his price is in line with another who I know does decent work but takes forever to get a job done. This guy was recommended by a subcontractor who is solid so I'm hoping for the best. Contract is two pages with detailed scope of work, materials and time frame. Over the years I've had experiences that were excellent, decent and some not so great so will see how this shakes out. Appreciate your insight and I will keep my eyes open. 

If I didn't want a career in RE I would do exactly what I did 30 years ago. Find a cheap, ugly townhouse, in this case $100,000 range, finance as owner occupied and live in while making improvements funded by working OT at my day job. In a couple of years either sell or rent and rinse, repeat. Prior to answering I actually looked a a few marginal but ok neighborhoods in the suburbs and they are few and far between but there are listings in the low $100s. 

GC agreed to 50% upon signing, 25% after floor install and 25% upon completion. Hopefully it will be a decent experience. 

I would also let them break the lease. It is the decent thing to do especially for what was a good tenant. 

Hi and welcome! 

I just paid cash for one because I also needed to re-balance my AA and pull some money out of the stock market. 

This is a good example of sticking to your investment plan and having a reasonable asset allocation for your individual situation and risk tolerance. I plan to continue to lighten up on RE as I get older to have more truly passive investments and lower risk of litigation but that is based on my financial plan not in response to current events. FWIW I'm old enough to have seen a few times when RE was super hot as well as when it was a buyer's market. The STR boom also makes me suspect a correction is due there. Things generally need extra monitoring when the average Joe jumps on a bandwagon.

Ha a pet peeve here also. I hate the dust collecting, dust dispersing annoying ceiling fans so the remotes are just the icing on that crap cake. Unfortunately I my opinion is an outlier in the STR world so another remote to lose and malfunction is part of the deal. Any suggestions on remote wrangling would be appreciated.