All Forum Posts by: Cheryl C.

Will K, I wouldn't call myself fulltime, but I don't work. I spend a lot of time looking and reading REI related stuff - but I goof-off mostly. I haven't been able to make a meeting yet but plan to.

Brian Cindy Walls, I've got a few places in KG and just closed on a short in N. Stafford. It seems that Stafford numbers still work for me. Our summer place is in KG, so the distance from Reston (home) isn't an issue. How is F-Burg? The market seems still quite weak. PM me if you want to talk about F-Burg, Stafford or KG.

Chuck Redman...where the whisky flows and the beer chases!

All, thanks for the replies. I am waiting to talk to the Deputy on Wednesday when he is back at work.

I am losing an excellent tenant due to the adjacent owner continually calling the police complaining of noise violations. He has called 5 times so far this year. My tenant is a middle-aged Hispanic woman. He contacted me early this year and I went over to talk to him and then my tenant. I do not believe there is any noise (radio) violation. After another visit from the Sheriff on Saturday, she has had it. I don't blame her.

I called the Sheriff this am and was told that different deputies had responded on the various occasions. These complaints were all filed mid-afternoon and no citation was ever issued. I was told that it is SOP for the deputy to knock on the door of the "offending party", regardless if they hear any noise or not.

This behavior starting shortly after my tenant moved in in December. The place is beautifully decorated and spotless. When she moved in, she told me that she never wanted to move. I am really angry as I believe it's racial. My prior tenant was awful and he never complained.

What, if anything, would you do? I plan to talk further with the Sheriff's Office, but my tenant IS leaving.

Jeff S, I certainly don't have any crystal ball. In the past it seemed to boil down to the numbers. Around here (Northern Virginia) the numbers didn't make sense to me after late 2002/early 2003. People went crazy, imo. Obviously, I left $$ on the table. We seem to have corrected back to 2003-2004. I'm just wondering what others are thinking/guessing. I believe that the last 3 cycles around here were 15yrs, peak to peak. I do believe that it will take a few years for supply to catch up with demand (unless that hidden reo tsunami comes about).

In retrospect, following the inventory turned out to be a very good indicator of things to come. I saw it start rocketing up in June of 2005 and knew that the party was over.

You are correct in that there are many variables - but hasn't there always been? RE (and everything else) could implode if a disaster is bad enough. I was caught mid-flip on 9/11 and lost $$. I'm just trying to gauge the "known". The pipeline can be reasonably forecasted. Population growth can be reasonably forecasted.

Those with a longer time horizon probably (and rightly so) don't care too much about peaks and valley's. I am only wanting to hear what others are thinking. I'm not going to Vegas based on this post.

Note to self: e-mail blast to all tenants re: insurance.

Make them pay the deductible. This will also show up as a "claim" and may affect premiums going forward.

Seeing that no one has responded may contradict what I say. I'd give the guy a call and ask if it's a good time to talk. If not, he will tell you and you can set a time tomorrow or whatever. Many people are involved with family/church on Sundays. I don't call contractors (usually) on Sundays, but I will call an agent or tenant. I don't call anyone after 8pm.

Having been around since the very early 80's, I've seen a few real estate cycles. I'll freely admit that I did not foresee the extent of the recent collapse. I saw a decline/correction coming, beginning in 2003 - when I stopped putting "new" money into RE (I still did 1031's). I got back "in" in late 2008.

I am looking to consolidate and/or liquidate some holdings at the next peak. I am thinking we are 5-7yrs out. I know this is just a guess. I think that (absent a Nuclear War) these cycles are somewhat predictable and, by following inventory, one can "see it coming". What have you all been thinking? I am at a certain age (Ah hem...mid 50's) when exit strategies are at the forefront. Please let me know your thoughts (guesses welcome!).

Steve Babiak, anything coming from Cornell is the "Gold Standard" in my book! (class of 1980)

Bill Gulley, do you have a cite for the 1yr restriction? I have never heard of it. I imagine that it would be in the DOT(?). I have some 3 yr leases. I've never given it a thought.

Prashant P. I reguire a minimum 60 day notice on all my leases.

Dawn A., they usually tell me and ask for some flexibility. I normally don't ask where they are going once I get notice. I just go over the "move-out" requirements.

I have a tenant with 6 months remaining on a 2yr lease. I received an e-mail last week asking me what the renewal rent would be for a 1yr lease and for a month-to-month tenancy. I have never had a tenant ask for this info so far in advance. I gave numbers that would be acceptable to me. I don't really care too much whether they stay or go as I don't anticipate any downtime or repairs (perhaps some light touch-up on paint and some cleaning). They have been very good tenants - it just seems odd to be looking that far ahead. I assume that they are house hunting.

btw - do you normally let the lease convert to month to month OR do you require a 1yr renewal? I normally require a 1yr renewal. I think a month-to-month tenant should pay more as I could get stuck with them leaving mid-Winter.