All Forum Posts by: Jonathan R McLaughlin

hard to give useful advice without specifics...

sure sounds like you are investing to me! Congratulations. And if you could make a little money on the timber of that lot....check out Jay Hinrichs' stories of timber investing. 

 If I'm reading you right you already have a primary, so keep it and rent it out when you finish building and voila, there is your investment property. Or sell that and get another.

You will know more than 90% of investors once you complete this project as well. Any chance you could build a duplex or some kind of second unit on the property you bought? Even an in-law would allow for some income and flexibility. 

And you 

@Bruce Woodruff I hear that and generally agree. But I think a reasonable person could have a different view of whats appropriate and it's not a red flag by itself. And a lot depends on the why and how they ask. 

You love a place and it is not quite in your budget and you ask for a number that is? I wouldn't see that as offensive. And I'm just as comfortable saying "no the price is the price" as "yeah I can do 1150 instead of 1200" in February. The guy with the audi copping an attitude and telling me its worth less than I priced it? Yeah, get bent.

I think with this poster's situation it is a little less clear cut what the standard negotiation ettiquette is.  He is crafting an option (medium term, furnished rental) that seems a little more open to negotiation than a cut and dried rental posting.

I wouldn't hold tenant A's attempt at negotiation against them. They are given a stipend to use as best they can and they are trying to maximize their advantage. Why is that a negative? Seems you just say yes or no to their proposed rate.

I mean as a landlord you pay a mortgage (presumably) and try to charge tenants as much as you can to maximize your earnings. I'm not seeing any real difference there.I'm not saying to take them, just that you seem to be holding that against them. Work from home? Meh. Whatever, probably makes the dog less likely to bark.

wow to this chutzpah:

 to a 12 month minimum, the other banned any new rentals but grandfathered in several existing ones which board members owned, but not my clients).

Would love to see that one in writing and in court :)

check the state laws to see if you can access the money up front or have to do it monthly. 

Red flag: this is a classic way to get a small landlord to overlook problems till it is too late. Certainly many people have had their credit trashed in a divorce but I'd be verry careful. Where is the $18,000 (!!) coming from on 19hr? Part of a settlement? 

I'd move on. Spidey sense tingling. I have no experience in CA but the people on this board tell horror stories about getting people out. 

@Scott Kimminau if this was a serious case they would be waiting to write a demand letter until she could demonstrate actual medical costs and damages. Many years ago, I was served with papers for a medical claim from a traffic accident about a week before the 4 year time limit after the accident closed. 

Turned out the gentleman that brought the claim was heading back to work on his first day back from disability when he claimed he hurt his neck in our accident, allowing him to go back on the clock. Go figure.

We objected to our insurance companies offer to settle for short money as inadequately protecting my interests in terms of rising rates and having to report an adverse civil judgement. So we went to deposition and....they wrote them a small check with some kind of "not my fault" document and the guy disappeared and they never dinged my policy.

Not strictly relevant but maybe educational. Sounds like a fishing expedition. You are the first line. Maybe she should sue her Mom. 

@kim 

@Kim Hopkins can't imagine why that was confusing! Reread it and I didn't understand it :)

I meant that if you did nothing with your 100K other than keep it in a savings account or buy treasuries with it you would earn 5%/year or 20K over 4 years. So keep that in mind when you compare alternatives. 

His giving you a 25k reduction of principal is essentially equal to the same amount you would earn in a savings account while keeping the 100K liquid

I think thats what I meant :)

@Joshua Bautista I'm confused about what you mean by that exactly,  "the normal family not doing real estate?" Why would they be asking this question? Brain tired, I'm sure its me

But I would say no, its not good advice as would be true with any blanket statement of the kind.