All Forum Posts by: Jake Thompson

@Matt R. Do you think they will put their headquarters so close? I was expecting something on the other side of the country, or at least somewhere in the middle. I don't see them sticking to the West coast, but then again who knows!

I would highly recommend using your own agent if you decide to proceed with this deal. If the seller won't agree and you still want to move forward, offer to pay for your agent yourself (although this is uncommon). You and your dad need someone experienced to help you out and avoid being burned. @Dave Foster is spot on here I think. I have an agent I can refer to you if you are interested. The safest bet here I think though is to move on from this deal and find another. I prefer to work with people I would trust on a handshake deal, even though I still do everything in writing. Whatever you do, don't transfer directly to the agent. Use a title company. They are 3rd party that is unbiased to protect the parties from each other. An attorney wouldn't be a bad idea either, but may be overkill. I would at least get your own agent and use a title company though. Let me know if you need any referrals.

Hi @Bich Pham, I personally can't answer this, but let me reach out to my network and see if they know any architects that can help you out! @Parker Cox has a huge network and may be able to connect you with someone.

I wish I could make it! I've got classes on Wednesday evenings.

Welcome Daniel! BiggerPockets is a great place to get information and network! There are several meetups in San Diego as well that can be very beneficial. Let us know if there is anything you need!

That's a good point! I would personally just rent to someone that meets my criteria without a cosigner, but some people don't mind allowing a cosigner. If you choose to allow a cosigner, make sure to vet them the same as you would a tenant. 

I would say my biggest struggle was not getting emotionally involved. I have had to learn that emotions have no place in business. Now, when dealing with problems I remain calm and keep a level head. It has reduced the stress a lot. Oftentimes I would later realize that the issues weren't even that big I was just making them seem worse in my head.

In order to avoid discrimination you should have a set of minimum qualification standards for all applicants. If that minimum is at least 2 years of credit history, for example, than that's fine, just as long as that applies to everyone. If your standards change based on the applicant you are opening yourself up to a potential lawsuit. If everything else checks out I'd say go ahead and rent to them. If you are worried you could also have them get a cosigner.

Welcome to BP! Thank you for your service, what branch are you? I'm former Navy. And congrats on your success thus far! Are you investing in Hawaii or another market? I can definitely help you with connections here in San Diego if you need any.

@Michael Halow I know @Casey Murray has a listing for a triplex with one unit needing some work (If you're open to a 2 or 3 unit proeprty). @Karl Kyler do you know of any 4-plexes coming available?