All Forum Posts by: Kai Hicks

 Don't underestimate our generation's aversion to risk ; it's easy to forget that BP is a bubble. It's a great bubble of like-minded people looking to educate themselves and build investing strategies, but that is not the typical state of things elsewhere. I've talked to soooo many people who I would consider otherwise intelligent that were so shell-shocked by the '08 mortgage crisis they swear they'll never put another dime into stocks, bonds, or real estate because they're all scams. 

As far as I know, mortgage rates are tied to the 10 year T-bill, which I don't see demand dropping for anytime soon. But when rates go up, and CDs and savings accounts offer better yields which leads to less competition for alternative asset classes like real estate.

I don't think it's a bad idea, but I'm currently hoarding cash while waiting to see what happens with the Fed raising rates in Sep or Dec, and if China's stock market actually manages to erase its gains and then crash

I currently rent in Ballard, and the wife and I are unwilling to move because we're within walking distance of a Trader Joe's. I have friends in the area who are very strong tenants like us, and feel the exact same way.

@K. Marie P: Just out of curiosity: did you post here in the forums about buying that property or working with this TK operator? The BP nation can be hard on TK providers, but can be a big help with the numbers. And making sure the deal makes sense. Did you buy this property with a tenant in place?

I didn't post in the forums about working with the TK operator, it honestly didn't occur to me. I know that's a major fail! I'm pretty insular by nature, which I'm actively working on; I'm never going to neglect BP as an excellent resource again!  I talked to quite a few references, had a lawyer buddy that lives in FL do some extensive searching to see if he could turn up any dirt, checked BBB accreditation, etc. Please let me know if this is idiotic, but one thing I liked about the TK is that they didn't have a tenant guarantee. Guarantees just seem super shady to me. We bought the house without a tenant in place, and the TK placed her in about three weeks.

K Marie,

I saw the house in person and it looked fine to me, the property manager was there as well. At that time, the tenant (who did not know my wife and I are the owners) requested a power washing of the driveway. The property manager told her, professionally in my opinion, that since there was no oil or other sort of disfiguring substance present, that wasn't something they were going to do. The tenant seemed to have no problem with that response. So I'm a little less inclined to think that the PM is just rolling over for any tenant demand, but of course that all could have been show? I definitely agree with the consensus that we'll need detailed pictures before we agree to anything.

First off, you guys are awesome for sharing your thoughts and experiences. Let me throw out some more info that has been requested.

1) She's been a tenant for less than two months

2) I definitely need to find out exactly what sort of siding it is for logistics of the power washing 

3) I'd say the neighborhood is a B- / C+ in Jacksonville, FL. I'd tend to think the weather there typically doesn't make frequent power washings a thing?

4) Before she'd been there for a week, she asked about the driveway being power washed. There wasn't any oil, but the pavement is old

Cindy,

Oustanding post, and I'm very sorry about your dad. Thanks very much for sharing that tenant nightmare. I'm impressed that you stuck with REI after that! Gah, you're definitely right about putting your foot down, but you can empathize with me about putting a foot down with a sweet old lady... I feel pretty great about my PM, but they obviously run a business, so it's difficult to give one tenant special consideration. I think I'm leaning towards granting the request, but with a caveat that it's not going to be a regular thing, do you think that's too soft?

JD,

I like your idea of making it seem like my idea! I already implement this with great jokes I hear. So I let her know it's part of the routine maintenance / cleaning schedule, would you do it annually thereafter?

I got the email from the property management company while at work, so I'm not sure of exactly why she wants it done, I highly doubt that its mold Paul. Great point Kyle J; quality tenants are obviously great, just a bit concerned that more requests might come down the pipe and start eating into our baby cash flow.