All Forum Posts by: Soh Tanaka

When you compare fees, make sure you check more than just the monthly management fee. Some property management companies charge a lot of different fees in addition to the management fees.

I'm not suggesting to do this, but you can take the names out from the LLC, get a loan, and put it back to LLC.

@Michael Ablan  Just like many things in real estate, "it depends" is the right answer. I think investing in one market can certainly work for all the reasons you mentioned, so long that you know the special risk that comes with investing in one market. 

@Joel Florek Basically what you said is what I'm thinking. If you are from Michigan City, IN, you are in a good place where you can get a lot of good rental properties!

@Jake C. There is for sure positive things about investing in an area where you can easily go. Having said that, I invest in a place where I basically never go (even though I can if I have to,) and just rely on my team to take care of the properties. So far so good. If I can duplicate this in another market, I'll do it.

Paranoia maybe, but with so many different things happening all over this country, I feel a bit unsafe to invest in just one area. 

@Frank Wong - Can I challenge your thought? I think if you are good enough to master one out os state market, you should be able to master one more. At some point, it becomes too much, but I think 3 markets are definitely doable.  

@Stone Jin I think I'm aligned with your thought process. 3 is my target.

@John Warren Maybe you are not a single family (SF) investor (and that's totally fine), but I think the situation is a bit different when it comes to SF in IL vs. NWI (North West Indiana). I think NWI becomes very competitive, maybe better. This is even truer if rent control becomes law in IL.

That said, I can see the challenges of 500-600 rent apartment. 

The way I look at it is not only which place is the best right now but also what if something happens to any particular market. As an example, I just found out that there are a few plants around where I live that are omitting very harmful chemicals. Depending on how this story develops, it's possible that this area could become a bad area to invest. These are the things that are just too hard to predict, thus diversification comes into play. What if I put all my eggs in one basket, all my money in one apartment building nearby the plant? 

For those who buy rental properties, do you invest or want to invest in multiple markets? I know a lot of investors who invested in one not-so-landlord-friendly state successfully. I know it can be done. 

That said, with a lot of unknown happened around the country, happening and sure to happen in the future, I feel like it's wise to invest in multiple markets. Any thoughts on this?   

I'm sorry you are going through problems. A company like this is one of the reasons why property managers get bad names.  

That said unless I'm reading wrong, as far as paying the management fees, even though you terminated, per B.(a), don't you owe fees till the end of the lease?