All Forum Posts by: Nicole Jones

@Landon Dolezal

Just wondering the outcome on this? I am in the process of looking into the same thing in the extremely difficult market of Long Beach, Ca.  

@Joshua Springer I like that you say "CHEAPER (not always free)" for house hacking. This is the truth. Any form of cheaper mortgage as opposed to a comparable or even higher rent is a win in my book. 

Thanks @Mandy Silveira 

It did not work but that's alright! I have a meet up account and will search for you guys that way. Looking forward to meeting with you guys one of these meetings... 

@Kenneth Reimer @Kevin Harrison @Jeff B. Thank you all for your advice. I'm definitely going to look into implementing that RUBS system. I also think it would be beneficial to increase/make sure to enforce late payments and lastly....possibly look into what I need to do to lower mortgage payments if I can. All of these are great ideas. Just appreciative for people taking the time to offer some tips. 

Thanks to all of you for your help! Al Williamson You bring up ideas I haven't considered although yes, short term stays such as Airbnb don't fare well here in Fresno. I would be interested in the book you wrote if it would help me with other shorter term ideas.

I have two multi-family properties purchased within the last 8 years in Fresno, Ca. Although I have always passionate about real estate investing I'll be the first to admit that when purchasing these I didn't do my homework or use any calculators to ensure profitability. I was lucky enough to at least break even and some years even come out ahead but I'm wondering if anyone has any advice for re-evaluating these properties to assess the steps I can take in increasing profitability. I'm thinking in terms of fixing things up a bit on them to pull in higher paying renters. One multi-family in particular is literally the worst property on the block, I inherited a very low paying section 8 tenant when I purchased and after doing some rent analysis on the area (as well as getting some complaints about this tenant) have decided to not renew his contract this year... Possibly do some improvements and get the property up to par with its neighborhood. Is there a calculator to evaluate the max amount of money I should put into a property vs. what I can realistically expect to charge for rent? As in when I should expect to recoup my investment. Also, both properties have a bit of equity in them. My goal in the next year is to make sure I am making as much as I can with the deal I already got myself in and then look at my options for possibly using the equity to purchase a new property within the next year. Any advice pertaining to anything I mentioned would be greatly appreciated.

@Mandy Silveira

I'm an investor in Fresno and have been off and on looking for a meeting such as the one you mentioned. Do you mind giving me info? 

@James Park

Any recommendations on fastest most efficient way for the brokers license? 

@John O.

 I could do that but it would cost money I'm not willing to spend and would create a very odd space out there. The front neighbor has access but his door opens to the side of the house which is very narrow. The back neighbor has both of her back windows on either side of the back so splitting the yard in 2 would make it so that one of her back windows is facing "his backyard" and one is facing hers. Too confusing and expensive to really be the privacy the female tenant is asking for, but thanks for the suggestion.  

@Aaron Montague

 Thank you, this gives me peace of mind. I'm only worried of getting into a situation where rent stops coming in from her and she can use my inaction as justification. But I suppose I would give the exact advice you are giving.

I have 2 Section 8 tenants in one of my multi-family properties.

1st tenant has been there since I purchased. He is an older gentleman tenant that I inherited and is hearing impaired. His mother has lived in the next door multi-family property... which I do not own. I am expecting this tenant to be around for a very long time in order to be close to his mom. He is a great paying tenant.

2nd tenant has been there for a year. She is a younger female whom is a decent tenant. She pays her rent late most months but pays consistently on the same day and pays the pretty hefty late fee so I haven't minded much as of yet.

One issue is that the hearing impaired gentleman can come off as intrusive and has been too forward in trying to get female tenants attention. He is loud and has a hard time with personal space. He has done the same with me but I just figure he is trying to let me know about certain things going on at the property when I'm there. I'm concerned because according to female tenant, the male has recently pushed the female. This crosses a boundary that I am not sure how to deal with. The female stated that it wasn't a hard push but she wants the male tenant to leave her alone and to even stop talking to her. I advised her to call the police if he touches her again and notified a family member of the male tenant that this is unacceptable. I made a mistake and haven't sent a letter right when finding out but I still intend to. The problem is there is a huge language barrier even with written correspondence so I am unsure of how to notify him in a way that he fully understands what I am trying to say.

There is also a shared backyard that is in question. They both have backdoors leading to a backyard but the male has his unit mostly facing the front yard and female has her unit mainly facing the backyard. She would like for him to stay out of the backyard because she has a dog she keeps there. Pet deposit was received for pet. Initially she had no issue with the male tenant going to the backyard however he keeps leaving the back fence open for her dog to get out. She purchased a lock for the door and the male tenant took the lock off and threw it away according to female tenant. Female tenant has been sending me long text messages about being upset with male tenant. Her lease is almost up and she says she does not want to leave.

There are so many issues, I just thought I'd reach out for advice. The tenant misunderstanding is one thing. The violence and disability/language barrier has made this a more complex issue than I think I can figure out on my own. Any input appreciated.  

Looks like you're off to a good start! Not many people can say that they have a dream team right off the bat. Welcome to BP. I'm fairly new as well. The forums are a great way to soak in all kinds of info. Good luck with future endeavors.