All Forum Posts by: Jeff M.

Hello Colleagues: I am looking for a financial advisor who knows small scale SFR real estate and other retirement and investment tools for a diversified portfolio. I want someone certified who charges by the hour who I can partner with as an advisor. I need someone who will challenge my entrenched thoughts (hence the psych background) and provide fresh ideas. I've done my own stuff for a long time and it is time for an influx of ideas and energy from someone bright, professional and trustworthy. Quality leads appreciated. Thanks. Jeff

Thanks, Andy.

I have a tenant who violated the pet policy.  I believe I have grounds to evict but I have never done so before and my lease is not very clear on terms for cancellation/eviction.    The tenant, a young college girl with good reference (I checked before she moved in) apologizes and wants to pay fines and stay through end of lease (5 more months).  I see this is an opportunity to tighten lease, even have her voluntarily cancel lease and sign that she is staying on a day to day agreement.  It seems to me that if she does violate anything in the future, I will have a better lease with clearer rights to evict established.  

I realize it may be best to just pursue eviction or cash for keys now, but I wonder if any of you have had success using an opportunity such as this to establish stricter terms and more managemet control on a tenant.  Thanks. 

Hello, Ryan:  I live in Flagstaff and have been investing on the side for a number of years.  I'm small-time, having done about 10 deals and I own 7 properties now.  I have some definite perspectives on the market and would also like to hear yours.  Let's catch up for coffee. 

Hello Quinn:

I purchased a vacation rental in Flagstaff June 2016 and rented it through the summer.  Even with little lead time I was booked 26 nights in July and 20 in August.  I had a property manager run it for me and she estimated 150 nights a year.  I think 140 to 160 is reasonable.  That said, I chose not to continue with the vacation rental approach for a number of reasons.  I took it off the market and am now renting it long term.  Good luck!

There is a campground/mobile home park on West Route 66 at Woody Mountain road in Flagstaff. I consider it prime for a longer term investment and/or redevelopment, but I am not an expert. My focus and means are SFR. That said, I know a fair bit about the demographics, economics and politics of the town and would be happy to chat. Good luck to you.

There is a campground/mobile home park on West Route 66 at Woody Mountain road in Flagstaff. I consider it prime for a longer term investment and/or redevelopment, but I am not an expert. My focus and means are SFR. That said, I know a fair bit about the demographics, economics and politics of the town and would be happy to chat. Good luck to you.

The age old question: what performance do you seek to make a deal worth doing? Assuming criteria of quality B property in good location, I think a Cash on Cash return of 10% and a total ROI including principal paydown of 15% (without planned appreciation) is good. Expenses are factored in and these returns have to come after PITI, repairs, management fees, etc. With today's interest rates I find it is possibe to structure the above return on properties that have a cap rate of about 8%. Anyone else care to weigh in? What works for you?

I am struggling with the same question up here in Flagstaff.  The answer I get comes from Gary Keller and Jay Papazon in "The Millionaire Real Estate Investor". He says  something to the affect of "you are looking for deals not the market conditions that create them".  They are harder to find now to be sure.  Happy Hunting!

I am under contract and feeling good about it.  It fit my criteria and the terms were good.  Perhaps a case of the jitters is to be expected.  Anyway,it helped having a sounding board, so thanks!