All Forum Posts by: Jared Friedman

@David Medina I’ve got several investments with realty shares and crowdstreet. So far so good. I’ve been using my self directed Ira though these platforms which has been a pretty simple process. With crowdstreet you are InvestIng dIrectly wIth the sponsor so there is no middleman to take a cut so the returns I have found to be much better. Realty shares on the other hand acts more like a middleman so you technically invest in a realtyshares LLC which funds the investment. I think realtyshares is better for the novice investor as they have an easier investment process and great customer service. I use both for diversification and the offerings tend to be a little different. You need to be accredited for these platforms as well.

Any luck on getting paid with your late tenants? I have several properties with Spartan and I am also in a similar situation with a new tenant who stopped paying  and the eviction process has already begun. My prior tenant for the same property broke their lease after 10 months of steady pay and left several thousand in damages. 

I own 5 properties with Spartan and I'm closing on my 6th pretty soon. I purchased based on a referral from a colleague of mine who has long term experience with them (5+years). I have only owned for a little over a year and things are going as expected. Some properties rented before I closed. Some took a few months to rent. All in all no investment will be perfect. 

Long term with anything is hard to predict so due diligence is everything. I own and manage a few rentals in California as well that I personally rehabbed and rented. I cash flow very little with my California properties but I have seen appreciation between my two Cali rentals top $500k in the past 5 years. My turnkey properties however cash flow nicely- around $300-350 each but I am not expecting any appreciation with those. I think its all about diversifying your entire portfolio and not owning just one type of asset. 

Try spartan invest in Birmingham Alabama. Low property taxes, B neighborhoods, quality rehabs, prices range from $80-$120k. I own a few there and so far so good.

I bought 2 properties from Spartan several months ago. It typically takes 60-90 days to close as they are rehabbing the property during this time. The rehabs seems to be done very well. Mine had all new roofs, new floors, granite coutertops, new HVAC, water heater, etc, etc. They fixed most everything on the inspection report as well. I have a friend who purchased 6 properties from them a few years ago and has nothing but great things to say about spartan. Placing tenants after closing has taken much much longer than expected. As Philip mentioned communication is pretty light as well. PM me and i can give you more specifics.

I've been using realtyshares for the past 2 years with great success. I have about $150,000 invested in 18 deals. They have some great deals with 15% cash on cash preferred equity and some equity deals with 20%+ irr. So far I've never been burned and I get consistent cash flow and deposits monthly. It's definitely a great way to diversify from stocks and rental properties.

Hi. I own a rental in Southern California that has been rented by the same tenant for the past 5 years. The tenant has paid rent on time each month every year for the past 5 years. They keep the place in excellent condition, the neighbors love them and they are super low maintainance. The property is owned free and clear and my cash flow is $1300 month after taxes, insurance, Hoa dues, and a small buffer for maintenance. 5 years ago I rented this for $2100 month. Now 5 years later comps are renting for $2500. I haven't raised rent because this tenant is awesome and the checks keep rolling in without any issues. My question is should I raise rent just because I can? I don't want to be greedy but does anyone out there never increase rent on a long term tenant? Would giving them a 3 month notice that I will raise rent by $200 seem like a steep increase at one time? Any suggestions?

Hello. Im looking for feedback regarding the following issue i am facing. I currently own 3 Rental Properties. 2 of the properties are in California and 1 is in Alabama. As of now i carry a 4 Million dollar umbrella policy for liability. I am considering buying 5-10 more rentals over the next year. I own my 2 California properties outright with no mortgages. One is valued at $500k and the other at $300k. The other properties i am looking at buying are through a very reputable turnkey company with in house property management and fully rehabbed homes. I am debating setting up LLC's but as a California resident there is a $850 annual fee per LLC in addition to filing taxes separately and also my insurance would double as it would be deemed commercial property. I hear most people go the LLC route but California is crazy expensive to do so. I'd be looking at possible a $9K-10K per year if i owned 10 homes in separate LLC's. From a theoretical standpoint i understand the benefits of the LLC for lawsuit protection but It seems like its unnecessary if I'm covered for $4 million with my umbrella. My net worth is $3 million. I couldn't imagine any landlord getting sued for over $4 million from a tenant lawsuit. Has anyone ever heard of or been sued before for million of dollars? Im not looking for theoretical responses- Im looking for real word- has it ever happened? It seems like the LLC is extra protection thats really not necessary but people get scared into going down that path. Would i be naive to not have LLC's and rely on insurance only?