All Forum Posts by: Tom Fidrych

As Joseph stated, a proper price point will move it. When you talk to your agent, they should recommend a price range and let them know your time frame. Many here believe prices will decline in the short term. Unfortunately, the market is agnostic to what you have into it.

Quote from @Ian Loonce:

Quote from @Scott E.:

I don't have an answer for you regarding your landlord rights. But just genuinely curious, why do you care?

I suppose there will be slightly more wear and tear on the systems (sewer, plumbing). And slightly more water usage which is annoying if you're paying for water. But other than that, what's the big deal?

 They are problem tenants.  The boyfriend got aggressive with me once (raised his voice, said I was about to make him mad).  I checked his facebook and it looks like gang signs and gang activity.  I saw what looked like possible distribution on the property by him and his friends.  They complain non stop.  

Hmmm....A drug dealing gang member with his own dorm room at the university? Doesn't fit in the box that I'm used to.
That being said, it's very common for a girlfriend to rent a place and sneak in a deadbeat boyfriend that would never qualify for the rental.
In some states, if you know someone has been staying there for a period of time, they have rights as though they were approved.
You best put an end to this. Either call her on violation of lease(if she is violating it), or he submits an application that you thoroughly vet-credit, criminal checks.

Whether you remodel the existing home or find a cheap home to move to your location, you're going to have to replace the foundation. You will not be allowed to place a new build or used home on the existing failed foundation. So you've got to calculate the all in cost of each option relative to the ARV of each product. Remember, if it doesn't make dollars, it doesn't make sense!
We're entering a period of declining home values and these are the times when poorly executed flips start to burn. I've seen a number of situations in the past several years where someone bought a fixer with no meat of the bones. By the time they finished, the potential ARV was juiced maybe 20-40% just based upon the markets rise. A rising tide lifts all boats. However, the nest few years are the proverbial time that Warren Buffet refers to we has stated that when the tide goes out, you see who's swimming naked.

Most if not all CPA's will be able to answer your questions. It's good that you are reaching out to an accountant before the sale. My late father was a CPA and every year he had clients come in who had sold an investment property, taken possession of funds, and then wanted to do a 1031. However, since they, not an intermediary, had taken fund possession, my father was the bearer of bad news. 

If you do plan to replant, it may be advisable not to use the same holes. They may have been exposed to a fungus or come with one and you don't want to expose the new tree to that initially. Also, make sure water is not pooling in that part of the yard as that can cause root issues.

Jonathan,

Thanks for the insight.

Seems if you plant a variety that is in demand today, by the time your vines are producing the supply side will be catching up thus eroding the price premium.  Also, when I drive by some of the large vineyards, I can't help but think they have a major economy of scale advantage with their mechanized approach and  can sell at a lower price than a smaller farm could produce for. There must a very large capital expenditure outlay just to get started.

Quote from @Theresa Harris:

Rent a trailer, get a shovel and dig them up and drop them off at the green waste.  You can plant some new smaller ones.  Depending where you are, some of those may be on sale at garden centres this time of year.

Theresa' got it right. The markup on planting trees is large. After all, what are you doing? Digging a hole and putting a tree in. If you can't do the work yourself, hire a laborer by the hour. The landscaper will likely argue that you over watered them and that caused their demise.

BTW, Planting a hedgerow or Arborvitae is a good screening solution and they should do well in your climate. 

Property managers, who's more or a PITA to deal with, owners of tenants? I always assumed that certain types of tenants are the main headache when managing properties. However, it's also likely that you encounter certain types of owners that have unreasonable expectations.

Perhaps the property owner feels that providing the tenants with a bucket to catch the water leaking through the roof is an adequate solution to a leaky roof-a lawyer shared that one with me. 

Feel free to unload.

Do you have any property management experience? The fact that your asking if it's profitable makes me think your new to the field. After all, the fact there are property management companies implies that a properly run one does indeed make a profit.

If you don't have any experience, it might be worth working for one for a year to understand what your getting into and develop the skills it takes.

Many people get started by managing their own portfolio and once they understand the field start to take on other owner's properties. 

Quote from @Jon Martin:

In terms of economics you answered your own question- the producing vineyard will make you money sooner. However if the existing vineyard has disease, poor design, wrong planting material, old vines etc it won't produce as well as a properly planted modern vineyard. If you want to make the best wine possible, the vineyard soil and weather patterns specific to your site are the most important. Depending on where this is, the best land is often developed already. 

I would also look for a property with some buildings on it and turn those into STR(s) so you can diversify your income streams. It would be a unique category.

I was a viticulturist in my past life, and still am to an extent with my day job that is adjacent to it. Feel free to PM me if you want to nerd out or need more specific info that you don't want to air publicly. 

Jonathan,
I've watched an explosion in vineyard numbers in certain areas of California and wonder what percentage of them actually make money. In some cases, making money is not the issue for the purveyors. However, if someone is developing the property with the intention to profit, what percentage would you say succeed? Is there a sweet spot for farm size? Perhaps your better off buying grapes from a large mechanized farm and just producing the wine?
Perhaps you plant enough grapes near the tasting room so it appears your not buying grapes from a contract grower?