All Forum Posts by: John Collier

A while back, Brandon Turner @beardybrandon, had made a recommendation for a website that I believe was meant for property/market analysis. He said there were additional benefits if you were an investor in Texas because the founders of the software/website were from Texas and so they had more insight/additional information available. 

Can someone help me out? I felt like the name bird was associated in some way... but I may be way off...

Thanks BP

@Nathan G. I like the idea of a gift card, since it appears to be more than what it is, (25$, 50$...) I feel that I have to lean to deal with the growing pains of balance between running a business verses having a hobby and treating as such may mean not always looking favorable/ make everyone happy. But the gift card sounds like a win-win.

@JD Martin it was a matter of problem solving, ordering parts and the such. It does make sense that if it was gross negligence, that I would owe them the credit; but in this case is was normal wear and tear, the issue was handled appropriately and as timely as possible. I think it is more my conscious deciding what is right/wrong rather than logical thinking. With them being new tenant to me, I know I don’t want to start off in a bad foot where they resent me and miss appropriately treat the property out of spite. But I also know I want to establish myself as a business, not their best friend.

So I am fairly new to owning a rental property... 3 months to be exact; and my tenant had their water heater go out. Immediately we ran down the basics of coaching tenant to relight the pilot, and with no success we had plumber out (the same day) and the problem was fixed in 4 days... long story short it was not the water heater, but a gas line issue which is why it took a little longer. My tenant is asking for a credit for being without hot water and I don’t think it is unreasonable to compensate but I’m at a loss as to what the compensation should amount to. Regardless of true cost of rent($500, $1000, $1500...), and of tenant demographics (single, married, family...) how would you personally (if at all...) compensate the tenant as a rent credit? 1. Rent divided by 30 days times days without hot water. Or percentage of said amount (50% of formula...) 2. Flat fee credit ($50, $75) or flat daily fee ($15 per day, $20/day...) 3 Some other metric...? 4 None... Thanks for the help fellow Bigger Pocketers John

Hey Juan, Welcome to BP. I am fairly new to BP and REI, but with your job being in motion picture, I’m guessing your work can take you (in theory) away from the area for an undisclosed amount of time. If you have a SFH rented, it may make it hard to have management... maybe look into duplex/triplex/four plex. Look to keeping one for yourself... renting out the remaining. It gives you free place to stay (when you are home) it can potentially offset the costs of a management company. And when you are away on a shoot, you could Air B&B your unit? Just something to consider.

I believe it is at a clothing/retail store.

I have been using a realtor who specializes in investors. She is fantastic!! She even has her own app in the App Store: ACCURATE listing. The app has her contact, but she has been great with helping me, not just with finding properties, but also putting together my team of lenders and even contractors. Worth checking her out.

Looking into different legal entities, (LLC, LP, S-Corp, Series LLC... ) what are the tax benefits that can be realized in one entity that would not be the case in the other? (Depreciation, profit/loss, expense basis...) does it matter if you do more flipping, rentals, brrrr... Thanks BP! 👍🏼

Hey the  BP Members!

Im in the process of trying to research to narrow down particular markets. I like to see the population migrations, jobs, and income. Are there any specific resources you like using for finding these characteristics/fundamentals?

I've used Census Bureau, CBRE, and city-data; but I'm always trying to get ideas from other investors as to what they like to use for their research. Any other recommendations?

Thanks guys!

Are there  any specific resources you like using for finding these characteristics/fundamentals? I've used Census Bureau, CBRE, and city-data. Any other recommendations?