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All Forum Posts by: Lyndon C.

Lyndon C. has started 2 posts and replied 12 times.

Post: Statutory Agent for OOS owner in Arizona

Lyndon C.Posted
  • Rental Property Investor
  • Irvine, CA
  • Posts 12
  • Votes 1

@Pamela Sandberg

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

Post: Statutory Agent for OOS owner in Arizona

Lyndon C.Posted
  • Rental Property Investor
  • Irvine, CA
  • Posts 12
  • Votes 1

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!

Post: Newbie looking for advice

Lyndon C.Posted
  • Rental Property Investor
  • Irvine, CA
  • Posts 12
  • Votes 1
Originally posted by @Nathan Gesner:

I would seriously look into purchasing a larger multi-family property in an area that provides solid cash flow and has a good property management company to handle everything.

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.

Post: Recommendation for Multi-Family Property Manager in Phoenix Area

Lyndon C.Posted
  • Rental Property Investor
  • Irvine, CA
  • Posts 12
  • Votes 1

@Ryan Swan thanks for the prompt feedback!

Post: Recommendation for Multi-Family Property Manager in Phoenix Area

Lyndon C.Posted
  • Rental Property Investor
  • Irvine, CA
  • Posts 12
  • Votes 1

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

Post: Prospective tenants appear super interested, then flake

Lyndon C.Posted
  • Rental Property Investor
  • Irvine, CA
  • Posts 12
  • Votes 1

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?

Post: Is AZ a place to start of your first investment?

Lyndon C.Posted
  • Rental Property Investor
  • Irvine, CA
  • Posts 12
  • Votes 1

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

Post: Is AZ a place to start of your first investment?

Lyndon C.Posted
  • Rental Property Investor
  • Irvine, CA
  • Posts 12
  • Votes 1

@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.

Post: Building a STR Business

Lyndon C.Posted
  • Rental Property Investor
  • Irvine, CA
  • Posts 12
  • Votes 1

@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!

Post: Building a STR Business

Lyndon C.Posted
  • Rental Property Investor
  • Irvine, CA
  • Posts 12
  • Votes 1

@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?