All Forum Posts by: Andrew Martin

Bob,  That was a very helpful answer. Thank you.  OK, now does anyone else have an addendum I can use? Or I can make one up, just the same.

Does anyone have a Renters Insurance Addendum that they like and would be willing to share with me? I'm not sure if in Washington I can Require renters insurance, but I want to strongly recommend it and point out that i will not be responsible for their personal items, temp housing etc. etc. etc.

Can you send me a word version of what you use?

thank you,

Andrew

I've done very well investing in REITs that own anything to do with seniors. Care facilities, hospitals, housing etc. The population is getting older and this country has a severe lack of nursing care facilities. I'm not sure I can mention stock names here, but pm me and I'll give you my investments

I call them ambulance chasers because they are not actually people looking to rent a place. They are not applicants as you say, but the are "testers" (the words they use on the complaints), and most agents say the event never happened. Usually people that "sue" someone actually have damages. Since these were fake renters, asking fake questions, there were no damages. It's just how they have chosen to make a living. And to your point about being up-to-date, look at the previous posts and look at the mis-information. So, even people on BP who rent units don't have the correct info. I think the laws are confusing, so it's easy for a person who may rent out 1 home a year to not be up to date.

Be very careful with the service dog thing. There is a non profit company out of south San Francisco that has some employees call craigslist rental adds that say "no pets". Then they pretend they have service dogs and if you still say no pets they file a discrimination complaint with HUD. They are "suing" many real estate agents right now and their goal is to have the broker settle with them. That is how these ambulance chasing lawyers make their living. Our KW office is fight them right now. I read this post and most of you are wrong about the service animal laws. Read the law in your state and be careful.

Have them remove the loan and appraisal contingency when they make the offer. Then hold the buyer to the strict contract dates. If they don't fund on time, give them a 24/48 hr notice to perform. If they don't perform, cancel the contract, keep the good faith and get another buyer. Cash buyers can be managed.

I would suggest that you need to be fully invested in both. It's part of diversification.

I should re-word what I said and be more specific than labeling a whole city as bad.  I apologize. There are high end areas in both Richmond and Oakland that I would love to own property in, but can't make the investing numbers work. For the areas that do cash flow, there is some risk in owning there, and if you have the risk tolerance, then there are deals to be had. That's more what I meant to say.

When people say there are no deals left in the Bay Area, we usually mean without going into the lower income area. There are always deals if you have the risk tolerance of being in Oakland or Richmond. I personally won't risk my health or life to make a buck on a deal. So, I'm one of those that says there are no good deals left in "nicer" areas.

I'm buying my first out of state rental property and looking for help in renting it and soemone to be local for any issues. NOT looking for any rent collection or accounting help.

I'm having trouble finding (havent called that many) a Property Manager that will only do what I need help with. It's seems to be a 10% all or nothing.

Anyone have suggestions?

you can call or e-mail me   Andrew Martin Realtor Keller Williams Danville CA