All Forum Posts by: Michael Swan

Thanks Brandon and Dave for the info. Sundeep the HOA fees were calculated into the total numbers. I purchased most of these properties for such low prices primarily in 2011 and 2012 for cash flow!! This incredible equity or appreciation was not a factor. It was way back in order of significance when completing these deals. I personally appreciate them. I don't have to worry about outside maintenance at all. When HOA fees go up, I just increase the rent and the tenants absorb this. This way, I just worry about the inside of my place.

Swanny

Thank you for the welcome!!  I will be looking in other states for single family homes and apartment complexes.  

Thanks Christopher.  I'm looking forward to discussing real estate with you in the future. 

Swanny

My name is Michael Swan and have been reading info and listening to the Podcasts for a while now. I just recently became a basic member here.  I have 10 condo rental properties in a suburb of sunny San Diego.  I have acquired these properties in the last three years.  I really enjoy being a landlord and I manage all the properties by myself.  I also am a full time teacher and a part time adjunct professor at Miramar College.  The appreciation that happened in the last few years is remarkable.  I now have way too much equity in these properties.  I'm a little worried that this equity will be a mirage.  I have seen this before in San Diego.  I have lived in San Diego since the 1970's.  Apartment cap rates are way too low and cash flowing Condo business model I started with isn't appealing any longer.  We have approximately $60,000 cash flow right now.  We invested approximately $600,000.00.  The outstanding loans are approximately $700,000.00.  The properties are worth approximately $2,000,000-2,200,000.  I am researching areas of the country that have excellent rent to value ratios.  BP has already been extremely valuable in narrowing my search based on past podcasts.  I look forward to contributing on the forums.  If anyone wants to pick my brain, feel free to connect with me on BP.  My nick name is Swanny.

Take care,

Swanny

I personally never commingle funds from my general account and my security deposit account. My tax guy let me know that. I'm also beginning to have all my tenants make checks out to my LLC, instead of my personal name. The bank was wondering why we had a general account in our LLC name and having the tenants make out the checks to us personally.

I hope this helps,

Swanny (Michael Swan)