All Forum Posts by: Bryan L.

I was in Fund 1 and saw a 72% return in two years.  Then invested in the Hollister deal the end of 2022 looking for depreciation - that's been about the only benefit to date.  The first distribution was just received and on pace for 1%.  It's early but all projections are short.

We have a mixed use property in a small downtown area with a busy salon on the ground floor and 2-2BR apartments above.  There are 4 spaces in front and 17 city owned spaces directly across the street so each unit has one off street parking space and plenty of other parking available.  This has been the situation for the last 6 years until the city posted the public spaces "No Overnight Parking".  

Our current Apt Leases say 2 spaces available so we've told tenants to park in front of the Salon while we attempt to find another solution...to make things worse, one has two large trucks so access to the salon is tight.  It's not much of an issue during the day since our tenants work but the extra vehicles and weekends are problems.  Not sure what can be done now as Leases don't expire for several months but current situation has salon owner upset.  Any thoughts other than tearing down the new signs :)

We haven't had any come in under, they always seem to come out right where we need them too which is good...but I think the entire process is a joke, both residential and commercial.  They're starting with the purchase or listing price and want to know what improvements you've done or how much you want to borrow...

Even with the tenants paying all utilities I can't see how this would break even...you're one capex away from a big loser.  I'd look for something else unless you can buy at a better price or increase rent.

Sounds to me like you're being overcharged but I'd be looking for a new manager simply because you're not able to get on the phone with someone who can answer your questions or address your concerns. You may be a small fish to them but I assume your portfolio is a large investment to you.

Crazy what what people will fall for and scary how legitimate some scams are.  We recently applied for a trademark and shortly after it was filed received very official documents with our trademark and trademark images saying they required an additional $7500 to complete....hand signed.  They asked for too much!

How’s the parking in the area, could you lease a few spots?

First duplex, I think it’s a great idea to manage yourself if you have the time/desire to.  Plenty of books on managing rental properties - I’ve even heard about one that someone from BP wrote ;)

I’d encourage her her jump right in - better to know how the property runs before handing it to someone else to manage.  She might find she enjoys that portion of the business.

Wish I could offer advice on the language barrier but if she speaks some English she’s ahead of me - I know no Spanish!

I assume you still want the deal?  I would think you could find a better way out if you don’t.  

Sounds like the current owner didn’t manage the place very well if he let these things get overlooked - probably why the other two are empty.  

If it’s a good deal, just buy, enforce the lease and get new tenants!

I'm hoping someone has experience negotiating a purchase with a Conservator? I'm working on a counter but would like to know if they're limited in what they can sell at because of an appraisal they had done.  Not much info available on the topic.

Thanks!