All Forum Posts by: Account Closed

@John Heffner   It depends.  If the rents have gone down, then dump them.  On the other hand, if the issue is appreciation you might want to keep them.

Since you mentioned West Sacramento, I am guessing the issue is the rents are not keeping up with the appreciation.

I am not sure I would ask for an inventory  If I did not want guns on the property, I would probably just ban them from the property.

Well... in the next 12 months the new US 380 alignment will also push up prices in places where it will go.  Land owners will soon be working with TexDoT to maximize the benefits to them.

@Luke Easley    I would say... partner partner partner.

The first partner should probably be the current owner.  You mentioned the location is good.  That means they have equity to partner with.

The second partner should probably be a design group.  An engineer, architect, and interior decorator will all be needed.

The third partner needs to be the city.  They love professionals.  Some professionally done drawings will go a long ways.  It will be interesting to see what they offer.  Normally it will not be cash up front.  There are creative ways to use long term incentives to finance deals.

The fourth partner should be a construction company.  I would suggest finding one that does remodeling on large concrete buildings in your area.

The second partner should over see the quality of the work of the fourth partner.

Doing the project in the above mentioned step by step approach should help you keep the risk down.

The details of each partnership will be different.  For example the partnership with current owner might only last until construction starts.  It might simply be a 12-18 month option period where all the other preliminary work can take place.

I would be worried that about a claim about the dog.  I would be concerned that they would claim the landlord made up a new rule once he saw them.  Is the tenant a known member of a protected class?

@Jo Zhou    I think the problem the PM is concerned about is the fact that they have told the potential tenant that they met the criteria to rent the apartment.  Now they have seen the potential tenant and you want them to tell the tenant they do not really meet the criteria.

That is a great way to get a Fair Housing Lawsuit going.

The exact criteria should have been decided before the property was ever advertised.

All the property managers I know would not do it.  You might also owe them the fee for renting the apartment.

Well... the market is still very tight. I am expecting another 25% - 75% increase next year. The March MLS activity report I just got shows the market around Princeton is really picking up steam.

I do not think I will even bother fighting the ones in the Princeton school district this year.  The comps would be basically impossible to fight against.

Did anyone get a shock when they opened their appraisal notices?  I looked at a big stack of them today.  Some of our residential rentals went up more than 100% this year.  I was not surprised.  I did buy them for appreciation and cash flow.

This is fairly common.  People in the Dallas area have torn down $4,000,000 - $8,000,000 homes less than six years old to build other homes on the lots.

The house in the picture looks like a bulldoze.  Sometimes in our area many of the parts get stripped to be reused/recycled before the bulldozers start.