All Forum Posts by: Pyrrha Rivers

@Miho Hatanakaundefined I am really late to reply, but though I agree with all comments offered before based on individual perspectives and opinions, I want to add my voice to the discussion just to broaden the dimension. I have a completely different experience because of my situation. I work on a US navy base and rather than turned down, we are heavily sought after tenants because owners realize that there are several advantages to leasing to military connected people: Rents are significantly higher, tenants don't disappear in the middle of the night although the required notice is quite short as people may receive relocation orders that require them to move quickly. There are numerous companies dedicated to market properties to tenants attached to the US base. Agents speak English and serve as intermediaries between owners and tenants. Helping to bridge the cultural gap as well. 

What is absolutely true and affects landlord, tenant and neighbor dynamics is the cultural differences that invariable create friction. For example, Americans in general love to grill at home. Japanese people hang clothes outside and if the neighbor fires up the grill right bellow, clothing will be smelly and neighbors will be upset. Same with loud music at parties, parking on the street and a really big one is the garbage recycling. I've been told by Japanese friends that it is a big problem because Americans don't understand the recycling rules and sort the garbage incorrectly. These things can cause a landlord to turn a foreigner down because of not wanting to deal with neighbor complaints. The difficulty with communication may cause the foreigner to feel discriminated against when it can very well be that in true Japanese style, the landlord simply wants to avoid conflict. 

In terms of purchasing, I agree that having to pay all cash for property is a deterrent. However a big positives to landlording in Japan is that your property is not likely to be destroyed by the tenant or vandalized during a vacancy.

I wish I could attend the BP meetups, but 2 hours away on a weeknight makes it rather tough, especially because if I stay to the end, the  trains  stop running before I can make it home. Anyone in Yokohama or Yokosuka wanting to get together? 

Hello @Daniel Mills Any luck getting your meetup going? I've organized one in Yokosuka with mixed results. at times we've had strong participation from a few members, at other times weak participation from several members, but inevitably, it falls apart due to the military community members changing duty stations. Hope you can get things going, I'd love to learn from you and I'll be interested in visiting if I travel that way.

Hello @Jason Unrath Welcome to the site and I must agree with those who encouraged you to get involved and participate. I have found great people on this site. In response to your saying you don't know how to read with your ears, I've learned to do just that on this very site. The podcasts and audiobooks recommended are just as educational as books but far more practical because I can learn during my commute.

Best wishes!

@Steve Barfknecht Thank you for posting this question. I'm in the same boat. Own a property in my LLC. Was a cash purchase with extensive rehab. When it came time to cash out refinance, I found lots of closed doors. (A lot of cash I would like to use is tied up). I've purchased a couple others since but I'v done it in my personal name, which defeats the whole purpose of having the LLC. I keep looking for a lender who will do that refinance for me in GA because I would much prefer to own all of my portfolio in LLCs. Let's hope we get some good answers here.

@David Hamilton This is a very informative post. For me it's a reminder that you just don't know what you don't know. I had no idea about this so you've created an opening for me and others to grow.

Thank you very much! 

@Cody L. Would you be willing to share some of the experiences you've had with the sf container homes? Perhaps starting a new thread and linking to it here?

I see that many of us are interested in what you have done. Don't mean to put you on the spot but I'm really fascinated by that.

Thank you.

@Victoria C.This is a very interesting discussion! I love the variety of opinions, which gave me a lot of thoughts, so I apologize but this is a long one.

I sense that you are not completely of the mind of throwing the tenant out or you probably would have done it and we would have missed the chance to have this important discussion. However, the most important and pressing thing here is to make sure you and your property are protected and not in violation of any of your local regulations. If all is well with the law, I would not be too concerned with the neighbors who are probably not pleased with the home being a rental to begin with. As @Patrick Senas said, ,“make everything official.” I like the suggestion offered by @Account Closed, I love this suggestion for several reasons: When you show up for your reserved stay… (I would love to be a fly on the wall!)  

• There is no denying that she’s doing it. Whichever way you decide to go, this is certainly a great start to your discussion. If you get rid of her, please come back and let us know how your visit went.
• Since you have educated yourself, you are armed with the knowledge of what your jurisdiction requires, and because you’re well prepared, you know how you want this thing to go.
• If you are of the mind of allowing it to continue, this is a great opportunity to get a tour of the operation that she’s set up for you. Because of the element of surprise and finding the hand clearly in the cookie jar, I believe the discussion can be very much open and you remain in control, as you should be.
• If all terms are agreeable to you, meaning you are protecting yourself by enforcing the following of your city’s rules, this becomes your new property manager with maintenance shifted to her as suggested by @Craig Curelop, (If I could get a tenant to set up one of my properties as an AirBnB and run it appropriately, I would be happy with the supervision and upkeep my home is receiving. Think of what you would have to pay someone to run something like it for you and take it into consideration when deciding what percentage of the revenue earned you want to get. It will keep geed in check).
• I don’t have first-hand knowledge, but I do not believe the wear and tear is higher on an Airbnb property. As @Jerry W. said, the property is primarily used as home base for visiting the city, sleeping, showering for the most part. Few people will engage in a lot of cooking or spending extended periods of time in the home. During the reservation process, identity and credit cards are captured, The same way the host gets reviews, so do prospective guests which helps with screening, so although not impossible, I don’t see it as highly likely for the AirBnB to be used as a party house. It can happen, but the “house rules can help discourage it. Educate yourself on the AirBnB rules, insurance and best practices, get access to the booking portal so you can see what revenue your property is generating as well as the reviews it is receiving. I chuckled at first but I think Jerry W. is onto something by suggesting you buy additional properties and partner with this creative individual, as long as it is okay with your city to begin with.
• Airbnb requires the place to be in good working and sanitary condition as. We all know not all tenants will maintain the home at that standard Esther L. says of her roommates, it requires a lot of work and attention to detail if it’s to be done right.
• I don’t agree with the suggestions to take over the Airbnb business because that would be creating a labor-intensive job for yourself, which this tenant is already doing. Please keep us posted and thanks for sharing.

@Darrel Maxam I just came to Atlanta on vacation from Japan. @Anna Watkins told me about your project and I was blown away by the photos. To be honest, after living in Japan, the space doesn't seem so tiny, but that just shows extremely well planned and executed use of space. I love it!

Congratulations and thanks for sharing.

Great job!

Thanks for sharing.

@Adam Treece Thanks for the mention, and yes, I'm still here. As a matter of fact our first meetup of the year is scheduled for next Thursday. Our group is in Yokosuka, and it's true, "If you build it...they will come" I was very worried because my key members PCSd over the summer and I thought I would not be able to find any others to come. I still sent out an invite in October and the group is now bigger and quite diverse. Not all from BP but a mixture of entrepreneurs we are all very excited and motivating each other. I have been largely absent from BP because I've been focused on a purchase I'm closing 0n the 17th. As you know, everything is harder from abroad, but still possible. I started in August 2014 and this is my 4th purchase in Atlanta. So if you want to do it, you can do it. find your pace, your rhythm and build the relationships you need. Feel free to PM me if you need help in the area. I have found some great people to work with and some to stay away from. 

Best wishes!