All Forum Posts by: Jake Zhang

@Rudy Curtler

REITs pretty passive

@Bryan BealI'm saying the exact opposite, i'm saying allowing "freedom" now will cost capitalism to fail in the near future. No one would be around... and i do not agree with the NYC vs other area assessment, yes NYC density is higher than any other city in the US, but restaurants, bars, movie theaters, gyms, coffee shops, hotels, airports, schools are everywhere and every single place will discourage social distancing and aid the spread of the virus... this is not the flu... to save capitalism, you have to sacrifice now, and hell it's not even all about capitalism at this point is about living and dying

@Ty Doke

Anytime someone’s giving you their opinion you have to know where they get their bread. In this case, I get my bread from real estate and your partners fa gets his bread from the mutual fund. More money in the fund means more mgmt fees and commissions. Currently the market is not doing well for them so commissions this year is probably zero, so they have to rely on management fees. So of course they changed their mind on their advice because the market changed and they still want to get paid, everyone does.

I think the argument will be derailed away from numbers (because they know you know them like the back of your hand) and focused on the non-tangibles like project mgmt and market projection. Real estate is good if you focus on value investing ie buying low and not good if you focus on growth investing

@Bryan Beal

I think you’re lacking basic knowledge about public health issues and what a pandemic is. But to your credit, none of us experienced this during our lifetime so you had good reason to ignore. My parents work in health care and I have relatives that teaches public health at universities that overlaps with insurance, so I know the potential damage of reopening the country prematurely and what you’re basically proposing is completely wrong. Period. If you look at this situation from a business standpoint, the risk reward ratio is so unbalanced it’s not even a question. And yet this country is not a business, freedom means nothing in the face of death. Maybe some parts of the country can open earlier than others but now is certainly not the time. So rather than talking about freedom you should talk about discipline and coming together. Freedom right now has a cost and it might just cost capitalism, are you willing to burden that cost?

Best time to buy was 20 years ago, second best time was today. Stick to you analysis and understand forced appreciation. Build enough cushion so that even if you do go underwater, your reserves or cash flow allows you to weather the storm. 

This is hilarious to read some of the posts here... Only reason your own agent is pushing back on you is because they don't want to be in this difficult situation having to negotiate for you and possibly lose this deal and not make any money. They want everything to be smooth and happy at your expense. You do you and need to look out for your own best interest (ironically that's also your agent's responsibility), and I would suggest using another agent next time. Best of luck!

I have a listing agent on one of my properties who’s not communicating with me at all. Conversations has all been one way and despite clear direction on actively reporting progress, he continues to fail to meet expectations. When trying to collaborate to find solutions on short term rentals, he again fails to present any decent ideas. Recently I found out that there was an offer on the table from a potential buyer that was never presented to me. I found out through the buyer, and by the time I found out the offer was closed. When confronted, he simply replied he thought it was a “ridiculous offer” that he didn’t even care. I’d like to fire the agent, because there’s a clear gap on how we work, but there’s still a lot of time left on the contract. How should I proceed with this? Any comments?

 Hi Salvatore, i'm looking into Atlanta's market around metro or north atlanta where cap rates are good.

Hi Erik, am looking for MF broker as well, have you had any luck since?

@Bob B.

One thing to note is that either party can terminate the lease by giving a 60-day advance notice. I have not given an official notice yet, just expressing the idea that I want to sell the property, and the tenant mentioned that he plan to leave once the property is on the market and that he received the 60-day notice. And then he came back with the offer to pay more rent if I push back on putting the property on the market. I’m not just kicking out tenants because I want to, the lease allows the flexibility for both parties.