All Forum Posts by: Account Closed

Straight from the internet to you.  They are fake.  If you try to demand them from someone with a real service animal you will be screwed.

http://registerservicedogs.com/

Act Today!  Only $69.00!!!!!!!

  There are no such certification papers that come with a service animal and asking for them can get you into trouble.

You two criteria will pretty much doom you to failure.

1.  You should look for rent growth.  If RTP is 1%+ but never changes then any profit will be lost to inflation and capex.

2. Cap rates are not appropriate for SFR but even if you could you need to understand that a high cap rate is ONLY the result of LOW demand. That is not good.

Cap rates are not a profit metric. Why would you target a higher cap rate as a goal? All it means is that there is less demand for the NOI.

All the higher cap rate means is that the NOI has less market demand. Why is that? The lower cap rate means the NOI has higher market demand. Why is that? All the cap rate is measuring is what IS. It is up to the investor to determine what the market is perceiving and if he thinks they are correct.

Pick better markets.

http://www.mercurynews.com/2016/09/25/bay-area-wag...

Over the five years that ended in July, the median home price has rocketed up 94 percent in San Mateo County, 74 percent in Santa Clara County and 67 percent in San Francisco, according to figures from the CoreLogic real estate information service. While the median in the East Bay is lower, home prices there have increased even more: up 105 percent in Contra Costa County and up 99 percent in Alameda County.

Well is the market cap is 8.5% then you overpaid $256,000. 

Are you buying his real estate business or the real estate?  His rent rolls and his taxes will be of less importance to you than market rents and the expenses you will incur.

No matter where you invest don't invest cheap just because it is cheap. I like condos because they can get me into a neighborhood where I could not buy a SFR. I have a building two parcels away from my first condo that sold for $25,000,000. Do you think my condo brings his value up or the opposite?

Your $230,000 condo sounds like an area that might not be in the best of areas.  I would look for a property that is not easily duplicated.

As far as HOA's and maintenance fees you need to look at what they are paying for and if it is being reflected in increasing rents. My condos are in THE location with minimal amenities. Newer condos are being built with crazy amenities that will continue to cost to be maintained but the use will be minimal and the rents won't reflect the additional costs.

HOA's need to be managed and I have had some issues. I have also had some issues with my SFR neighbors. I find it is easier to deal with a HOA when there is also a professional property management company that oversees them than to deal with some ******* SFR homeowner that does not have a calm professional overseer.

You want to make sure the HOA is financially solvent and if they are renter friendly. Most battles happen when an investor comes into a project that is mostly owner occupied with stringent rules and plops any renter into their unit. I always make sure everyone knows how to contact me and make sure I get them a good neighbor.

Be sure to get 6-12 months of HOA meeting minutes to see if there are problems and how they are handled.

Can you explain what this means?