All Forum Posts by: David S.

I think @Annie T. has found on this forum a couple of experienced property managers who probably have worked enough evictions to know when to bring in a lawyer, although they appear to have differing views of whether partial payment should be accepted and so this needs to be clarified. Still, no harm in consulting a lawyer early especially since Annie is a first time landlord. In anycase, the cost should be worth the education.

Annie, you said that you used a lawyer to help you legally raise the rents...Although Daniel Bornstein has been highly recommended here, have you considered telling the lawyer you used about what has happened and asked their advice? They should be willing to give some advice without charging you.

I have been lucky enough not to have had to deal with bad tenants and I know nothing about small claims courts, but I have been wondering while this eviction moratorium is going on, whether suing in small claims court is an option in these situations. What do you think @Lawrence Leung and @Account Closed?

@Brian Burke. You said, "Somewhere in the middle is office, mobile home parks and self storage." Can you please elaborate on why you believe mobile home parks and self storage will not perform as well as multi-family this time around?  

There are many that view because of the supply constraints, the fact that MHP tenants own their homes and they stand to gain the most from unemployment and government checks to come, that MHP should perform relatively well vs the other RE classes.

In terms of self storage, many would argue that during recessionary times when people downsize, they tend to continue paying the $100 or so a month for storage. Personally, I am not so sure of this given all the new supply that has recent come. I am also inclined to think that this time around more people may start asking themselves why they need to store so much stuff but interested in your take. 

@T.J. Ferguson. @Julie Prewitt @Phil Collett. Thanks for all your responses. Someone did connect me with a local agent who also came up with Mercury and AmGuard.

Despite never filing any claims, we just received notice that our liability coverages have been cut in half while at the same time, the premium for the reduced coverages is still 15%+ over what we paid last year based on the original higher coverages.

Can anyone refer a contact for getting apartment insurance on a small apartment building located in Northern California?

@Mark Gliebe. Thank you for the info....Given the tornadoes that recently spun through the Nashville area and the ensuing damage as shown in all the media reports, can you offer any comments on how an investor should think about tornado risks in the Nashville/Tennessee area?

I am from California so we have to recognize uninsurable earthquake risks but wondering how to think about tornado risks and if maybe they might be similar to say hurricane risks in investing in Florida for example.

@Rhett Kelton. Appreciate your local insights...May i ask your view regarding tornado risks in light of the severe damage done by tornadoes that went through the Nashville area the other day?

I have been presented with an opportunity to invest in a couple of 250+ apartment unit syndications in Murfreesboro and Spring Hill Tn areas. These are class A properties built around 2017 so would also be interested to what extent these would appeal to those that work in Nashville?

I am doing my own due diligence but would also like feedback from others in the local area as to

- Whether these are worthwhile areas to consider if one wanted exposure to the metro Nashville market.

- Is one of these areas better then the other and why?

- These properties are both about 30 miles south of downtown Nashville. So do these areas really appeal to commuters who work in the city of Nashville?

- How resilient would these areas be when the next recession comes.

Thanks in advance for your input.

@Darrin Gross. I am interested in learning about your case but I cannot attend in person...Any chance you can message me the slide deck and then we can discuss over the phone?

@Paul Choi. I too am interested in your webinar...Can you please also DM me the details. Thanks!

@Tamar Hermes Thanks for sharing. Buying new construction would seem to eliminate risk of having to do major repairs in the near term and therefore theoretically no need for inspection.

Did your newly constructed property come with a warranty?

You said, "If you get a new construction, you actually get billed $2000.00 paid to RWN on closing. I did not realize this, but apparently it is in the fine print."

Can you elaborate, what this additional fee was for? Is it some kind of commission since RWN does not get paid a normal commission for new construction?