All Forum Posts by: Tony Tran

BP Family,

Have you ever had a tenant that always calling you to do a maintenance? Or consistently finds a problem for minor repairs? 

What have you done differently to reduce the numbers of complaints that something that always need maintenance?

Tony

Appreciation is speculative and I wouldn't factor it in. Speculative investing is like gambling at the tables. 

1. Do we have a real estate bubble right now?

Yes.

2. When do you think it will pop if you say "YES" to the first question? 

This is difficult to predict, but it is best to put all the risk mitigation techniques in place.

3. Are you going to do anything differently in 2015 vs. 2014? If so, what are your strategies to prepare for a real estate crash?

Buy more with a twist. ;)

Welcome to BP!

Setting up your profile with some details and pictures will be beneficial!

Tony

@Anthony Gayden 

This is very normal. The tenant(s) did not pay their bills. Period. 

It should never be a 6 month leniency. They are abusing your kind heart and most likely, will never tend to pay you back. 

Another way to look at it is: You gave them 6 months of free rent to get their act in order. 

Tony

Hey BP,

I can't seem to find anything on my search. Maybe someone can help.

I am looking for historical trend data for when general population tend to start searching for new residencies. Just based on experience, it is usually the beginning January and ends around summer time. 

Is there a site, or something that provides these statistical data?

Thank you,

Tony

For the age, I would do perform long-term investment (buy and hold, notes, etc.). Your friend can be leaving off the cash flow (possibly more than his salary). There are other variables to achieve this, such as demographics, trends, locations, etc.

@Gary Erdoglyan 

Similar to any purchases, factoring in buffer to counteract unforeseen issue is your best option. When I purchased my "turnkey" 4plex, the appraised value was $205k at the time. I ended up purchasing the property at $193k leaving a buffer of $12k. 

This buffer saved a bit of headache when I found out there was a mold issue in the crawlspace. Cleaned up the whole 4plex for $5k and the rest of buffer goes into the reserve fund.

Tony

@Jay Hinrichs 

Haha! Laser beams...love it!

Pam,

1. I can agree with @Daniel Burbol 100%. The tax man from each state including federal will always be there and they want their cuts (unless you find a way).

2. That was one of my fears, all these shows are turning people onto real estate without people understanding the risks. These shows tend to act as "middlemen" and they take a portion of the value.

3. I recommend that you look at the risks involved to avoid losing money, find ways to apply risk mitigation techniques, and do a bit more research (BP is a great resource) before jumping into the "shark infested waters".

Tony