All Forum Posts by: Elizabeth Colegrove

@Tara Parker, I’ve been looking at real estate since 2009, but bought my first property on New Years’ Eve 2012. Not too shabby, eh? But really pushed my chips in during the crisis. A lot of it is about timing, in addition to finding a good deal, IMHO. How long are you planning before retirement

@Andrew Davis,
“You just wrote a playbook for so many who are after financial freedom. While I do work myself, I'm still in the S box of the cash flow quadrant, but am regularly inspired by you and pretty much everyone you mentioned to continue on the path towards passive income and true financial freedom.”

Really appreciate it Andrew! A lot of BP folks have inspired me, and glad I could inspire a few others ;) I don't even know where Winter park is! But I was thinking about checking out Miami, and maybe Tallahassee (I know, totally different..). Where are the best places to go in Florida? Not just lounging on the beach or going to clubs. But maybe something different..? 

@Jonna Weber
Been a while! How are you? Thanks! I’m thrilled too! :)
How is the market out there? Things just won't stop here! Wondering if I should sell next year if it keeps going this way.. I was going to stop at a few national parks and forests also. Some good nature places to check out in Idaho..? 

@Janet Voss
“ You've already been a help to me, and we've barely met, but I have my first travel nurse (booked through Airbnb) moving in at 5:30 pm today… I know you've already got a lot of travel planned, but my friend and I are headed to Italy (and then on the France for me) at the end of June and first bit of July. You're welcome to tag along.”

So nice of you to say Janet!! :) Glad I can help out, and some of that travel nurse inspiration comes from Al Williamson. Appreciate the Italy invite!! I think I’m going to SE Asia before going back to Western Europe, but have a blast! I love everything in Italy!! :) What cities are you going to? I like Naples. A little grittier ;) Nice to another Oakland er on the map too!

@Ryan Landis
Are you looking in San Mateo much? Or up in the East Bay? When I was just peaking into the prices down from S SF down to Redwood City, Mountain View, Los Altos, etc, just for sh*ts and giggles, WOW! I still like the East bay for that reason. Sorry couldn’t chat with you more before I’m getting less active. You came in to our group a little late!! Where ya been!? hahaha Keep going to @Johnson H. 's meetups, and keep your eye on the cycle!! 

@Elizabeth Colegrove , I finally did it!! :)

@Elizabeth Colegrove I am not sure what behave means. From my perspective it is just a business exchange of goods/services for money. If behave means that the tenant pays the agreed upon amount of rent on time, takes care of the property, and that they are respectful of my time then I fully agree, they should behave. If behave means something else then I wouldn't know. 

Yup that is what I meant. I guess I fell like when people have tenants that do this they think this is extraordinary when I feel like it is a normal expectation.

As for being a tenant being a job, I wouldn't know about that either. I don't do section 8, that is the only tenants that their job might being a tenant, so I usually choose tenants that already have a job and need a place live. I think customer service and understanding selling a product is important in any business.

Being a landlord is a job to me. I am running a business and I wish to make money and have a business that grow. I run this as a business with a goal of making money and keeping my house in great shape.

The OP's comment was that he preferred to have kept that tenant and instead was misguided by his PM. I would take a lifelong tenant that never calls me, takes care of the property, and accepts small increases in rent all of the time. In fact that is my ideal tenant!  How many times are you going to find an ideal tenant? 

I find them all the time because those are my expectations and I allow nothing less. My lease goes along way into creating that type of tenant. I have a break lease fee, a repairs deductible (prevent the time wasters)

Every-time that you place a tenant you are taking a chance, gambling that they are level headed people. If you get an ideal tenant you may have to apply a bit of customer service, sales ability, and a bit of appreciation from time to time to keep those tenants. I would spend $1 all day long to get $2 in return. 

I have just learned how to spend .25 or less to get the $2. I have learned that with great lease practices and management. I can have high expectation have tenants who meet them, without spending tons.

Most landlords fail because they do not run rentals like a business. They have to use a PM because they cant understand how to make a series of transactions on a personal level that benefit both parties. Then the PMs that they choose just suck at running rentals as a business also, so they are stuck in a cycle of neurotic business practices.