All Forum Posts by: Michael D.

And from above, when you mention making $2500 in a single deal, do you really feel like you're adding that much value? It doesn't sound like it to me. As others have said, a similar site could be created for a few thousand.

You've basically got him in the position that the right thing for him to do is dissolve the business and go his own way - which wouldn't be good for the friendship - which is why he hasn't done that yet.

If this is something your partner is depending on and you decide to stick with it, you could find that your friendship depends on your ability to succeed.

Sounds like you don't really need the money, and a few thousand isn't much to worry about anyway.

Why not just ask HIM for a number - and then just take anything reasonable?

What are you protecting?

Lisa Goodwin,

I could understand if you lived there - and it was therefore in your backyard, but since you've decided to make the whole country your backyard as I have, why such focus on Surprise?

With a cap rate around 7% (mentioned optimistically by other poster), the price range you're looking at is probably close to the top unless rents go up. Do you think they will?

Why not explore some of those other areas where BP members are getting 10%+ cap rates? Others have already been mentioned, but I'm rather fond of Pittsburgh right now.

When properties are getting 10 or more offers on day 1, why do you think it is a deal?

Minh L., I just don't want to be a property manager. I could be a good one - but it's just a job I don't want.

Phillip Dwyer, thanks - though it looks to me like the web site is down.

Really, nobody is or knows a good property manager in the SF bay area?

Would any of you recommend a good property manager in San Jose, CA that can meet the following criteria:
- Willing to manage a SFR in the Story/White area
- Speaks fluent Spanish (and English)
- Established professional management company

Thanks!

That shouldn't have anything to do with it. If it does, you should strongly consider a professional manager - I use them for this very reason.
No, not everyone does - but you should. Just make sure that it's working for you, not you for it.
Are you sure you want that job? 'Cause that's what it is - and you've already got one. I don't, which is why I hire professionals. It's expensive, but if it makes or breaks the deal then it's a BAD DEAL anyway. You should always have room to pay a manager, whether yourself or someone else. I pay my managers a lot, but much less than I would have to pay myself to justify the work.

6) Size of family to house size (6 people in 3 bedroom is a no)

In the SF bay area we have to accept 2 adults per bedroom, plus 1. So your 3 bedroom would be 7 (!!) people. (assuming other criteria are met)

Really?

Being able to use a kiddie pool is a deal-breaker for them?

That doesn't make sense to me.

"Months of screening?"
Are you sure you're doing this in the most efficient way? That seems like a very long time unless there are extenuating circumstances.

You have to say no - in writing, on the lease, and specify safety as the reason. If you specifically say "safety reasons," it's going to look pretty lame to accuse you when something unsafe happens.

If they do it anyway without your knowledge, at least you have something pretty good for court.