All Forum Posts by: Mark Oliver

My new tenants moved in 5 days ago. On the first day, they said the AC was not working well enough. On the 3rd day, they said there was an electrical issue (when the light switch in the bedroom is turned off all the electrical outlets turn off in the basement too). Today (on the 5th day) they said the lock on the sliding door leading to the back yard is broken. This seems like a lot of complaints in a short period of time. What do you think? And who should pay? 
For the AC, I quickly provided them with 2 portable AC units for the upstairs rooms that they said were "unbearable". Though the previous owners said the AC was fine, and myself and the realtor knew it was fine most of the summer. I agreed to pay their first month's electricity and look into making the AC better once we know the issue. I am getting an electrician out to see what the issue is with the electrical. But the back sliding door. Seriously. This was working fine when they started renting. I'd like to make sure their first week goes well, but OMG, this is eating into any profit I might get and is starting to annoy me. Advice?

Thanks for posting this.

While large OTA's (Online Travel Agencies) offer a great way get bookings, keep in mind that many people do not search first for a property. 

Many people search an "area" first. For example, someone might search for "Best beaches in Bodega Bay". 

So, if you invest some time creating a blog story that shows you are an authority (on the beaches) in an area, and that blog article links to your property websites (not Airbnb) you'll get some bookings and not have to pay their commissions:)

Something to consider.

Thanks so much for posting this Lisa! 

This is why I started this post - so the biggerpockets community could help out directly. 

I think you've got some really great ideas here, and I hope others in the community might be able to come up with some solutions.

Yes, the Red Cross and others will obviously help victims in the short term, and provide some initial relief, but there needs to be help provided for the long term.

I imagine trying to navigate insurance companies, and knowing your rights (regarding insurance contracts) might be helpful for some folks.

Sorry to hear about that Jenelle. I hope you are able to return to your home soon. Sounds like the fires are still not contained. Let me know if I can help in any way. I expect the property prices will rebound, since Santa Rosa has low unemployment and job growth is projected to increase a lot in the coming years.

The town a few miles north of me (Santa Rosa, CA) was devastated last night by a sudden wildfire.

Thousands of people are homeless.

Is there a way to help these folks have a place to rent as they wait for their homes to be repaired?

How would you help?

I'd like to tap into this talented, creative community and find a solution to help my neighbors.

Any thoughts?

Yes, it's my primary home. I would rent another property in Marin.

I bought a house (family home) in Marin County, California, in 2014 for $775k.

Now worth $1.1 million.

I owe $585k mortgage on this property.

A few months ago I bought another property for $315k - it's a vacation condo in Lake Tahoe for personal use and is also used to rent out (vacation rental). Payments on this property are around $24k per year (this includes payments on a $70k equity, taken against my first property). I get about $14k in vacation rental money per year from guests.

I have about $25k in savings, not including 401k.

I now want to become a property investor. I'm looking to buy & hold around 100 properties eventually. (i.e. Rental properties that produce cashflow).

Considering that there is a high chance we are at the edge of a crash, and considering that I bought most of my property fairly recently - should I sell my first property, wait for the crash, then buy & hold some other houses/condos?