All Forum Posts by: Naga A.

Edita,

I think my asking price is at least at par or lower than the market. I checked the craigslist and my asking price is lower than most properties in the area.

I will talk to PM shortly and tell him that I might have to fire him.

Well. It's been a month and half since the property was in rent ready condition. Since the tenant broke the lease, PM replaced all carpets with tiles and did other repairs, which took them two months and half. I feel they were so slow to get anything done and the only solution they offer to rent my property is to lower asking rent amount.

I feel like I need to switch my PM. I've tried to lease my SFR in Vegas after the former tenant broke the lease and moved out in December. Our PM arranged for rehab (changed from carpets to tiles) and got the property in rent conditions. But my property has been vacant for 4 months. Any recommendation on PM who is strong on leasing a property?

Hi Tak,
Glad to finally find you here on BP. Tak is a good friend of mine and fellow country man. I believe I introduced BP to you a while back. Didn't I?

I am so jealous that you could go to BP Summit. I wanted to go so bad, but my family obligations prevented me from doing so. We should meet up in Tokyo one more time and talk about our experiences.

@Uwe Thanks. Good. Sounds like he was not completely duped.

@Joe, I wouldn't do too much leg work for him as he is more like an acquitance to me than a friend. He needs to do all the leg works by himself. Otherwise, he should sell that house.

@Tenisha, thanks so much for your advice. I will relay your advice. He might contact you to get your referral on PM or sales agent, if that is okay with you.

The Japanese agent is not an agent per se. At least, he is not licensed in the US. He is more like an intermeditary, or facilitator using his Japanese language skills.

I believe the property manager is also the one that actually sold the property to my friend.
They tied up and sold so called a "turn key property" to him.

Well, I remember there was a thread a couple of days ago, started by a UK investor, about a property management problem she had with her property in Detroit.

I just happened to find out that a friend of mine (really, not me as I do not have any interest in investing in Detroit) got caught in a similar scam targeting at foreigners.

My friend is a Japanese citizen like myself who bought a duplex through another Japanese agent working in the Detroit market.

When he bought the property at $25,000, the duplex had two units occupied and rent paid for $450 each.The agent said that this property was located in a nice, strong rental area so it should be rented out quickly and claim a same or similar rent amount even if current tenants moved out.

Well, soon after he purchased the property, one tenant stopped paying rent so he had to evict him. Then, other tenant threatened to move out unless a rent being reduced to $325. That was a year ago. So, the other unit has been vacant for a year as of now. Instead of receiving $900 for rent, he has been receiving only $325.

The problem is that he is not very fluent in English and the Japanese agent refused to pick up a phone from him, so he asked me to help.

Is there anything he can do? I do not know anything about the Detroit market, but is the property really in a nice neighborhood?

The address of the property is 8945 Pinehurst Ave. Detroit, 48204.

I invest in the Metro Atlanta Market.

As an out-of-state investor, it's hard to get a good grasp of good/bad school districts in the market. I do not have the benefit of talking to prospective tenants or PTA moms etc.

I posed the question because I was wondering if there is any way to figure out, by using an on-line website, whether a property is located in a good/bad district or which school district is suited for investment.

We all know that a property situated in a good school district tends to be rented faster and a tenant stays longer. So, if you are a buy and hold investor, researching a school district in which a particular property is located is important.

But, when you screen properties, how do you go about searching school districts?
Is there any good on-line website you use? Is there any criteria you use to determine whether a particular property is located in a good school district or not (such as 2 miles within an elementary school with 5 star rating etc)??

J. Scott and Ann,

Thank you for your advice. Well it seems like my mindset was wrong. I am still learning, and am glad that I posted my question here because otherwise I might have inadvertently ruined my reputation as a buyer.