All Forum Posts by: Jake Jefferies

@Mark Gagner This post is a little late, but we manage over 600 units from South San Jose to San Mateo. If something comes up in the future, feel free to reach out to me.

@David Briley Penn Foster has a great online certificate on Property Management. You take all the courses and tests online and they issue you a certificate in the end.

@Mikisha Simms A property management certification course might be something worth while for you as well. First step is to learn the laws. Second step is to build your team; you'll want to have an attorney (eviction specific) and vendors for all maintenance, etc.

Thank you @Robert Warren and @Jon Holdman

In Colorado...can an LLC have a non-owner managing member?

Explanation - I'm a California resident. To avoid paying the California LLC fee for my Colorado LLC, it was recommended I make my brother (Colorado resident/property manager/registered agent) the managing member with 0% equity in the LLC.

Thanks in advance.

@Tatyana Shevnina Welcome and good luck!

@Amit M. He did not mention anything about RE Investing, but mentioned that he did not enjoy his trip because the city smelled like urine and was dirty. I'm assuming he didn't spend much time in Marina/PacHeights/RussianHill/CowHollow. Personally I love the city, no reason not to like it.

Yeah, it would make sense for 20 something's to be living in the less expensive areas and still have quick access to the city and their (tech) jobs in the valley. I wonder if East Palo Alto/Menlo Park will eventually push out across the bridge into the East Bay? We have several owners that only invest in those areas, maybe because they see a better future?

Unfortunately the database does not track where people are moving, but in order to go through the move-out flow we have to put in a forwarding address. I would say 50+% of our tenants that lived in the peninsula that are moving, are moving out of the peninsula/South Bay/SF area completely. This probably has to do with the fact that we are getting $2600 for non-updated 1 bedroom units in downtown Palo Alto and $4000+ for updated 2 bedroom units in the same downtown area. 

@Sean Connolly We generally like to keep our rents just under market so tenants still feel like they are getting a good deal and they will realize that if they begin to look elsewhere. We also include a phrase in our rent increase letters that says we know rent increases are never pleasant but if you look elsewhere you will probably find that you are still getting a good deal. This decreases the chances of turnover. A bit off subject but might help to break the increase news.

Thanks @Fred Sams !

@Account Closed check out this link http://www.commercialbanc.com/property-classifications.html for the CREFCOA. It breaks down the different multifamily property classifications and how/why properties are classified the way they are. Hope this helps.

@Joe Fairless In the past I've done gift cards for the local grocery store before Thanksgiving and included a personal note to enjoy their Thanksgiving. This will obviously be tough on a $5/unit budget but it is the thought that counts. I'm sure they will really appreciate whatever you decide.