All Forum Posts by: Account Closed

@Julie Kern 

Also, don't expect college students to help fix problems with the house when they occur. Many of my tenants are long-time SFR renters who are "handy". That means they're not scared to make minor repairs when they come up or work proactively with my handyman to get repairs addressed.

I think college students are better suited to apartment communities or condo complexes, where there are onsite repairmen and amenities.  They may pay more in rents, but they will definitely be more costly when it comes to property management.

@Julie Kern 

I would suggest testing the market and seeing how many calls you get.  If you get more calls and students are willing to pay higher rents (because usually their parents are paying) then renting it to students might be better.  But, sometimes students are more flighty (increased turnover costs), so they will virtually always be more work on turnovers.

When I faced this choice, I decided not to go the student route, but I have contacts (mostly multifamily) who have gone the student housing route and are profitable. 

I also believe that students generally prefer apartment communities or college/dorm culture with amenities (wifi, lounges, meeting rooms, pools, etc.), so most are not suited for SFR living.

@Scott Trench 

A good topic... I would make them take "personal financial management".  Required reading for the course would include:

 "The Richest Man in Babylon"  By George Samuel Clason

"Think and Grow Rich" (original 1937 edition) by Napoleon Hill

"The Science of Getting Rich" by Wallace D. Wattles

I would also require them to submit a class project, which would be a business plan and requirement to raise capital and take action to actually implement the business plan (I started a lawn moving business at 12 years old).

@Jon Holdman 

Is the option of knocking down a layer or two of brick possible to bring the TV down a bit? I would do that, then create a wood cover painting the same color as the wall to cover the tv up when not in use.

Thanks @Aaron Norris 

How the tech industry I think is impacting the cycle is it's stretching it out a bit, so the peak should last longer, but we will eventually see the market soften.  I'm pretty well-connected in the tech space and we're seeing lots of engineers moving from Europe, Asia, and South America to start their tech companies in Silicon Valley (to access talent and capital).  So, it's unclear how stretched out the cycle will get, but I would be a more than a little nervous buying in CA right now.  I would likely wait for the next drop and scoop up deals at that time.  I'm currently buying in markets that are still in the expansion phase.

@Karen Margrave 

Another alternative is setting up the TV and having it lower down from the ceiling.  If you don't have the ceiling clearance, a projector with screen might be a better fit (minimum ceiling clearance required).  Have it placed in the ceiling in front of fireplace.  Click a button and the projector screen will drop.  I don't watch TV, but enjoy movies, so this is a project I'm planning to work on for one of my vacation homes.

@Aaron Norris 

I hate to burst your bubble, but prices in CA do go down and the markets are cyclical (see chart below).  Based on this analysis, LA was predicted to be at a peak in last June.  You watching days on market, construction, vacancy rates?  Any declining trends? 

What's unclear is what the impact of the tech industry will be on the real estate cycle for markets that are heavily tech focused (SF, Silicon Valley, to less extent LA)...

@Will Barnard 

Yes, I agree...a bad decision. Banks rarely learn their lesson, unless forced to.  They're like sheep following the herd.  It will increase competition and demand for properties, but should help drive prices up for us buy and hold investors.

@Karen Margrave 

Is it possible to recess the TV into the wall above the fireplace and have it covered when not in use?  This way it would be more clean and fung shui.  I would think that MOST reputable interior designers would advise you against having both on the same wall.

@Karen Margrave 

Personally, I think that you're combining two functions in one space, which will consciously or unconsciously confuse people.   It would be preferential to have separate spaces for TV watching and the fireplace.  Maybe it will force you to get rid of the TV all together, which wouldn't be a bad thing, which is what I did several years ago.