All Forum Posts by: Lyndon C.

@Pamela Sandberg

Thanks, that helps! Appreciate the prompt feedback and love the BP forum!

Hello BP,

Following closing of my rental properties in Greater Phoenix area (Pinal County), I have received an mail from county assessor demanding out-of-state owner to designate a statutory agent who lives in the state and who will accept legal service on behalf of the owner. 

I'm just curious what would be the most cost-effective way to accomplish this new requirement, considered that I'm currently holding the properties as sole proprietary and thus no need for a registered agent?  Can I designate anyone (my agent, property manager, or a friend) for that purpose?  I would think for anything serious, the county should be reaching out to owner directly... 

Thanks!

That definitely sounds good, I'm in similar boat and curious if anyone has input to suggest such cash-flowing area for multi-families.  Following the thread.

@Ryan Swan thanks for the prompt feedback!

Hi Fellow BP'er, 

I am looking for reputable property management companies that offer great service and value for multi-family properties (2-4 units) in greater Phoenix area (Mesa, Tempe, Chandler, etc.)  From my search on google and yelp, none that have reviews that stand out and many just don't do business in Multi-family homes.  It will be great if any knows of one they can recommend here on BP.

I do have a property management in place for my SFH, but unfortunately they don't support MFH.

Thanks!

Lyndon

There could be so many reasons, simply put yourself in their shoes; when would you flake even if you are initially interested?  Just thinking out loud, a reason could be that more research from tenant shows they can get better values, either lower rent for similar house in the neighborhood, or same rent but a bigger/better house.  You have called out another one which is the timing.

Following up with them to get some feedbacks wouldn't be so hard?

@Deepak Mahajan San Tan Valley & Maricopa, exact reasons mentioned by Ryan, due to price/rent ratio.  

@Deepak Mahajan I think you are lucky already.  Similar to other CA investors, I had no choice but to look out of state for cashflow, and the greater Phoenix area is exactly where I closed my first two rental properties last month.

@Ryan Foster sounds interesting. Would PM you to understand more about STR opportunities in the area. It's too bad I just returned from Chandler yesterday!

@Ryan Foster makes sense then. I'm doing regular rentals as I don't know how I can make STR work being out of state with reasonable ROI. Do you make use of property managers or doing it yourself?