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All Forum Posts by: Stanley Okazaki

Stanley Okazaki has started 7 posts and replied 104 times.

Post: Tax delinquent property owners?

Stanley OkazakiPosted
  • Residential Real Estate Agent
  • The Woodlands, TX
  • Posts 109
  • Votes 40

I'm surprised you've never heard of people talking about this strategy. This is a great strategy in my opinion. I've tried to target these delinquent tax paying home owners right when they're notice is recorded into my county's public records. Don't expect them to call you right away, a lot of them are overwhelmed and feel like they can make up the payments eventually ( sometimes they can). However, the ones that end up falling farther and farther behind are the ones that will eventually call you (may take a number of months). The next step for these home owners is foreclosure, so your pitch to them should be that you can help them prevent foreclosure and save their credit.

Best of luck!

Post: Credit Cards? GOOD OR BAD?

Stanley OkazakiPosted
  • Residential Real Estate Agent
  • The Woodlands, TX
  • Posts 109
  • Votes 40

Credit cards are only ever bad if you don't know how to use them. You'll need credit if you want to ever apply for a conventional mortgage. Get a c-card only if you know you can discipline yourself. Start off by never spending more than you have...

This was in reference to your personal life...

As for CC in your real estate investing career...I wouldn't know what to tell you.

Post: Options on bank owned distressed property

Stanley OkazakiPosted
  • Residential Real Estate Agent
  • The Woodlands, TX
  • Posts 109
  • Votes 40

@Rachel Gill 

It'll be tough unless you're close with the bank or someone that works with that particular bank. I've heard you can go to a bank & offer to purchase a "package of homes". 

Your best bet would be to figure out who the REO agents for that particular bank are. You can find this info by calling the bank or maybe even google.

Best of luck ,I hope this helped.

Post: Need help with Comps

Stanley OkazakiPosted
  • Residential Real Estate Agent
  • The Woodlands, TX
  • Posts 109
  • Votes 40

@Dexter M. 

Be careful with Zillow and Trulia. Often times they only put the tax accessed value on their sites. This is usually a lot lower than the home is actually worth.

Keep it up man! 

Post: Marketing for motivated sellers.

Stanley OkazakiPosted
  • Residential Real Estate Agent
  • The Woodlands, TX
  • Posts 109
  • Votes 40

Really, just consistency. Also, don't feel like you're failing when you hear about some other person that is generating all these amazing leads from direct marketing. Stay on your own path to success & eventually you'll get there. All these "millionaire investors" started by hand writing mailing addresses and door knocking...

Post: How to be a better landlord! (Tenant's POV)

Stanley OkazakiPosted
  • Residential Real Estate Agent
  • The Woodlands, TX
  • Posts 109
  • Votes 40

@Joyce Tavares there's always something we can do better.

@Richard C. a hands on landlord...I like it.

Post: How to be a better landlord! (Tenant's POV)

Stanley OkazakiPosted
  • Residential Real Estate Agent
  • The Woodlands, TX
  • Posts 109
  • Votes 40

@Jesse T. 

You're 100% right about that, but it's easy for a someone to write up a post and slant the argument in their favor. There are good landlords and bad landlords, this post was meant to inform the good ones and attack the bad ones :).

Post: How to be a better landlord! (Tenant's POV)

Stanley OkazakiPosted
  • Residential Real Estate Agent
  • The Woodlands, TX
  • Posts 109
  • Votes 40

@Ned Carey 

haha I'm sure the majority of landlords on BP are great. Good or bad, I'm sure every landlord can pick up something positive from this post. 

Post: Trying to build wealth in Houston, Texas

Stanley OkazakiPosted
  • Residential Real Estate Agent
  • The Woodlands, TX
  • Posts 109
  • Votes 40

Woohoo Houston investors! I'm in Houston as well... welcome

Post: How to be a better landlord! (Tenant's POV)

Stanley OkazakiPosted
  • Residential Real Estate Agent
  • The Woodlands, TX
  • Posts 109
  • Votes 40

Okay, I've got to admit, Bigger Pockets is a bit biased when it comes to tenant discussions. This is a site full of landlords/investors so the bias is understandable but don't you wonder what would be said if there was a Bigger Pockets website for Tenants? 

I'm a licensed Realtor in Houston,TX and have helped a number of people/tenants rent houses/ apartments/ duplexes etc. When I first meet a client the one question I always ask them is why are you moving? The large majority are just looking for more space or to be closer to work but there always people who tell me, " I'm moving because my landlord is f*****g horrible!"

Time to stop pointing the finger!

It seems that every time I hear this, it's coming out of the mouth of someone that has been nothing but the perfect tenant! They're never late on rent, have perfect rental history, great credit, clean, stable employment. It's crazy how some of these landlords treat their tenants, good or bad.

The #1 complaint I hear from these tenants is that their landlord doesn't fix things! The straight up truth is that some landlords are too cheap & stubborn for their own good. If your tenant calls you about a leaky toilet or broken AC there's no reason you or  your handyman shouldn't be out there the following day trying to fix the problem. 

Another big issue I hear from these tenants are with management companies. In my perfect world I would suggest that every landlord manage their own property but unfortunately that will never be the case! However, if you in-trust the responsibility of managing your property with a management company, be sure they're doing their job! 

FOR EXAMPLE: My father had a situation where there was a storm and it blew a tree down onto the roof of one of his properties. Luckily it only left minor damage but because it was raining so hard water had absorbed into the drywall ceiling of the tenants living room. The tenants told us they called the management co. to take care of it but a week later not one person came out to fix the leak. The tenants ended up calling my father directly & and I was actually at the property the very next day to fix the issue. Unfortunately when I got there the whole living room ceiling had collapsed; it's a miracle no one was hurt. Anyways we re-drywall-ed the ceiling the very next day and helped the tenants clean up all the mess. 

In Conclusion

Yes, there will always be bad tenants that you will have problems with regardless of how good of a landlord you are!

By being a landlord, you're making an promise to provide safe & livable conditions for your tenants & in return they pay off your mortgage. Treat land lording just like the business it is!  Stay on top of your management companies. If you are using management companies, tell your tenants how they can reach you directly just in case of an emergency.

If the perfect applicant came along and asked your current tenants,"What kind of landlord are they?", would you be afraid of what your tenants might tell them? Remember, you need tenants just as much as they need you.