All Forum Posts by: David Andrzejek

Ok John, I was obviously a bit dramatic to make a point and attract attention. :)  I’m in Silicon Valley and understand data and algorithm systems.  The more germane point is the industrialization of flipping by a company that will have a data advantage, and is getting into the business in direct competition with small operators on these forums.  There are likely years of opportunity still ahead but I predict for many it will be incredibly difficult to complete, and margins will fall over time as the Redfin machine gets more efficient 

From Redfin blog:

And we’re now working to predict the future so we can buy a billion dollars worth of real estate every quarter that can be sold by our home-flipping business at a profit.

What does this sound like to you?

Thanks David.  Saw a report that was projecting much higher vacancies in Austin next couple years due to a number of large projects hitting the market end of this year and next year.  Wondering what you are seeing on the ground 

Hi.

We are switching property management companies in CA for our 4 plex and one of the terms on the new manager's agreement is as follows: 

Indemnify, defend and hold harmless Property Manager, and all persons in Property Manager's firm, as permitted by law, from all costs, expenses, suits, liabilities, damages, attorney fees and claims of every type, including but not limited to those arising out of injury or death of any person, or damage to any real or personal property of any person, including Owner, (i) for any repairs performed by Owner or by others hired directly by Owner; (ii) for those acts relating to the management, leasing, rental, security deposits, or operation of the Property by Property Manager, or any person in Property Manager's firm, or the performance or exercise of any of the duties, powers or authorities granted to Property Manager;

Anybody else see Indemnity clauses in their property management agreements?  

 I understand that if I'm doing work or hiring for work on the property they should be held harmless, but seems to me that the property management company should be responsible for their own actions.  Just wondering if anyone else has seen this in their agreements, and if so can you share what you signed up for.