All Forum Posts by: Payman A.

Ladies & gentlemen,

I am selling some properties, which is great in a seller's market, but looking to exchange, which isn't great in a seller's market. An option I'm looking at is to partner with someone using a TIC purchase but wondering if I'd be able to buy additional ownership from other owner(s) of the same TIC ownership if I sell more properties down the line. Anyone have any knowledge or experience? Thanks!

Correct and that is still a liability policy on which owner can be named AI but that does not seem to be a common practice.

Hi all,

Posted this in a different forum but no replies, hope posting here makes a difference.

So I've seen/read plenty of threads on how/why PM should or shouldn't be named as additional insured on landlord's policy. Assuming that is agreed on and PM is in fact named as AI, why wouldn't landlord be named as AI on PMs policy? Of the 2, PM stands to make more mistakes without landlord's knowledge vs other way around so it seems landlord would have more reason than PM to be named AI. 

Thanks and looking forward to your thoughts/experiences?

Hi all,

So I've seen/read plenty of threads on how/why PM should or shouldn't be named as additional insured on landlord's policy.  Assuming that is agreed on and PM is in fact named as AI, why wouldn't landlord be named as AI on PMs policy?  Of the 2, PM stands to make more mistakes without landlord's knowledge vs other way around so it seems landlord would have more reason than PM to be named AI.  Thoughts/experiences?

Lol @ brother's lack of focus (& believe me, I'm laughing with you because I can very much relate).  Anyway, $30K-$40k SFRs would be something in the area, specially since market prices make them hard to compete with multi families.  I tried to hint/ask about Bakersfield's undesirables, but no bites.  Instead, I was told about Ridgecrest's high level of education and per capital income 👍

Hi all, just came back from my day trip, which I'll look forward to sharings, but heard something that I wanted to first see if any current owners/residents know about; there is apparently going to be a water surcharge on every property's tax starting next year (or year after)?  Anyone know about this and what that amount/rate might be?

Thanks Matt and a short drive is definitely an advantage with a trustworthy PM/team a close enough second.  Though I'd prefer more active involvement and presence, I've only had to go out to my out of state properties twice in the last 5 years.  Rest were either combined with pleasure/business trips or not necessary/effective trips. Of course, things could have gone differently, as they did in another market I was in for just over 2 years and then got out.  

Curious as to why you'd stay away from multi in an area like Ridgecrest?  

I can wrap my head around that.  Would you say the area has been pretty stable, getting worse, or possibly getting better/gentrified?

Thanks Steven!  It's good to know about the quick change of vibe you described and I'll try to pay attention when I'm looking around the neighborhood on Sat.  Also interesting is your experience with the furnished unit.  My take was that furnished units in Ridgecrest are often taken by traveling professionals, which gets me thinking MTM leases.  I wonder if that's even more sensitive to neighborhoods and proximity to base and/or hospital?  I did not know about the either the shopping center or the casino so 2 more things I'll be researching, thanks again.

Thanks Steven and nice to be in touch. In my very short time researching, I'm already aware that the area is sub-par and if the units can't satisfy the $900 target it's a no-go for me. I've looked at recent NW listings (on/around Perdew for example) but those prices are significantly higher than what I'm considering right now (& I'm sure they'd be even higher for updated units). Not that I'm trying to talk myself into anything regrettable, but the reason this grabbed my attention is the potential of owning "CA property" at about the same price and ROI as I'm now seeing in NC (where I mostly invest). I was thinking of furnishing a unit or 2 and marketing to traveling nurses and other short term professionals but "worst part of town" would shoot that effort in the foot...brand new interiors or not. One of the agents I've spoken with painted a similar picture of the neighborhood while a very well reviewed PM was surprisingly optimistic (she had 2 sons living on the same block in the last couple of years). Can I ask if you think the neighborhood is getting any better, worse, or feels stable? Thanks again and I'll take you up on messaging you with any specific questions.