All Forum Posts by: Michael D.

I'm sure we do, as I am in silicon valley.

If that's what you would suggest, how can I decide between them?

Unless the website is malicious in some way, I think it's a bad idea for BP to sensor/block it. Linking to other valuable websites does not diminish the usefulness or revenue potential of this one - it improves it.

So which banks do you all recommend?

I've been an unhappy BofA customer for quite a while, but I still haven't switched. A combination of inertia and not knowing who to switch to have been keeping me from switching.

If that $9000 tax bill is accurate, then you will never really own this building even if you pay cash for it - you will forever be renting it from the government. And you can't move. And they will enjoy raising your "rent."

What are the tenant laws like? Can you raise rents whenever and however you like?

And are you sure that water number is per-year? It looks too low for that.

It is possible for you to have negative cash-flow here even if they gifted you the property.

Thanks for all the great advice guys. I should have known better, but I'll know for next time.

Lynn M., you also bring up a good point. I think there are (rare) times when it's clear that you'll probably end up getting paid and there's no need to make a big deal out of it. In your case, the tenant is openly and clearly communicating with you about what his plans are. I wish all mine were like that!

Ryan Pyle, I like it.

I wonder if there is some industry-standard definition of vacancy rate.

What about if you're reporting numbers to a potential buyer?

(assume that the non-paying guy is long-since gone, but you still have incomes holes for those months).

One of my tenants stopped paying recently. My PM suggested that we not start the eviction process right away, because he might get himself current and eviction can be expensive.

Well, you all know how that worked out. He didn't pay the following month either, and we had to evict anyway. I basically lost a month.

I know there's probably a little gray area, but is it ever right to ride it out a little, or do you always just proceed under the assumption that you won't get paid?

Thanks.

Do you guys make an accounting distinction between non-paying and vacant?

I.e. when you're thinking about your own "vacancy" rates, do you include people that aren't paying?

If, out of the last 72 unit*months (8 months times 9 units), I have 4 unit*months of actual vacancy, plus another two unit*months of non-paying, would you say my vacancy rate is 8.3% or 5.6%?

Darrin Bentley, How?