All Forum Posts by: Marissa Carroll

@Logan Freeman - I sent you a DM.

Echoing what others have said - I would get an inspection. The first property I had under contract turned out to have a major sewer issue that required a $25K replacement. Didn't go through with the contract. No amount of visual inspection can tell that. 

To me, I would first define what "significant" assets are. If there are truly significant differences in your assets, then it probably makes sense. However, I've seen friends argue back and forth with their fiances on this issue, one demanding a prenup and the other pissed off at the suggestion. Turns out, one of the couples was arguing for months over $30K! Totally pathetic.

Out of curiosity, can you get a prenup for significant debts? I can't imagine marrying someone with a six-figure student loan debt (that isn't a doctor) and that instantly draining my assets. That's worth having a contract over.

I would generally stay away from the Paseo. The address itself doesn't seem as bad as the majority of the street, but it has a reputation here. Most people just see the word "Paseo" and immediatly consider it to be in a rough area. 

@Account Closed - That's what I was thinking as far as needing to be priced under the luxury units. The unit I'm looking at is a 3/2 with an attached 1 car, and I would need to get $1600. The apartment units have mostly 2 beds or less, and the 2 beds range from $1600 - $2500 right now. The building just opened, so who knows if those will go down to fill it up. Of course, they have a crazy amount of amenities that I'd be competing with, but they also have to park in a garage and go through a huge building with long corridors to get to their unit.  As for square footage, the unit I'm looking at would be comparable to 400 SF larger. Not sure this is enough of a margin to be competitive.

For rent growth, it's hard for me to say. The area I'm in doesn't appreciate a ton, certainly not like the coasts. I'd say it's stable, but I wouldn't expect a lot of appreciation.

Hey BP!

I was wondering what everyone thought about buying a unit that backs up to a new Luxury Aparment and mixed development complex, and what that does to future values and rents. Here's the general info on the situation. - 

Unit is a half duplex in a class A area and needs a lot of updates, but the rent should be close to 1% once done. The back yard direcly abuts a new development that will have 700 luxury apartment units, 4 office buildings, and a tiny bit of retail. There's also an age resticted hotel looking building. The apartments are ugly as sin on the outside, in my opinion. The offices will be very nice, but VERY close to the actual home with highly reflective curtain wall glass that is south facing. There's a possibility of solar glare into the unit. As for the retail, there won't be much and it will be far out of walking distance from the unit. 

Any ideas on how something like this affects home values, generally? The overall location is great, so it probably wouldn't be terrible either way. If there was more retail I think it would be awesome, but those mega apartments are dreadfull in my opinion. 

Thanks for any insight!

Congrats Ali! Taking action so early in life will pay off massively. 

Awesome advice as always, Dan. Hope all is well in your world. 

Thanks!

@Ric Fearnside I had planned on having the tenant put it in their name, but what I'm hearing from other posts is that the owner of the property is still ultimately responsible if they don't pay and the utility company will require you to pay it. I'd like to avoid that possibility if possible. 

@Lee Ripma I agree, screening is of the utmost importance, but if I can lessen my risks on top of that, I'd like to. I figured one unit would be hard to cover though.

@Frank Chin Glad I'm not the only one I guess! I was totally thrown off when that started happening.