All Forum Posts by: Lance Tokuda

Hello, I am looking to rent my home a neighbor (that I do not know) who is remodeling her home.  The rental is $10K per month.  Is there a fixed price or lower fee property manager that you can recommend?

Thanks,

Lance

@Melanie Mayeux - here is an update on Realty Shares

Hello, this is an update on Realty Shares in case you were curious about the service.  They just announced that they are shutting down new deals and using remaining funds to service existing investments.  

I invested in approximately 15 deals with Realty Shares over the past 3 years.  The highest return is over 30% and many deals exited at over 10% annualized.  One deal was fraudulent (loss of capital) and made national news:  https://www.nbcnews.com/politics/justice-departmen...  3+ other deals are in jeopardy and risk loss of capital.  At this point, I would guess a 7% return overall when everything is done.

Realty Mogul claims to be solvent and my contact there said that they were more conservative on deals leading to a lower default rate.  Some deals that appeared on Realty Shares were passed up by Realty Mogul.  Check you Realty Mogul if you are looking for crowdfunding deals with at 15%+ return potential.  You must be an accredited investor.  

I have also invested in the Fundrise growth fund but won't know the actual returns until they exit (5-year holding period).  

Hello, my neighbor wants to rent my 2nd home in California while she is remodeling.  I was planning to use AirBnB to take care of liability and rent collection.  On the side, she has agreed to pay for utilities. 

1.  Do you have suggestions on how to make the utility bill official?  If you have pointers to any public domain documents I could copy or other advice, that would be greatly appreciated!

2.  She says that I should pay for water used to maintain the lawn (single-family home).  Who normally pays for the water used in lawn maintenance?  I agreed to pay for the lawn care.

Thanks in advance for any tips!

Hi everyone,

We ended up connecting with @Sharon Tzib.  She sent us search results for homes that had a chance of renting for 1% of their purchase price.  I flew up from California once to view homes and we had one candidate.  Sharon thought it was work $10K under the list price.  We bid that ($135K) and won.  Rapid response times on all communications even on weekends.  All her referred services were great.

Nice first experience which we hope to repeat!

Working with @Jerry Ta for property management, Premier Home Inspections, Centauri Insurance, and Nolo.com for LLC formation.

Recommend exploring Jacksonville Florida. 

• Florida is landlord friendly
• Jacksonville can cash flow (noted twice)
• Jacksonville is projected to be #1 in the nation for appreciation at 5.7% per year over the next 3 years

See the Best and Worst Cities for Home Price Appreciation.  Note that Memphis is #1 on the chart from 2012 to 2018 but when you look at 2015 to 2018, Jacksonville is projected to be #1.  5.7% appreciation has the potential to cover your mortgage payment.

Hello,

I am buying a rental property with my girlfriend and we will be tenants in common.  She checked with her insurance and they won't give her umbrella coverage for the property unless she is the sole title holder.   

Do you know any insurance companies that would issue coverage to a tenant in common? Or is there another way to manage legal risks without creating LLC's?

Hello, I am looking for a banker/lender to work with an LLC that I will be creating in Houston for investing in real estate. Please let me know if you have any referrals. The initial purchase would be a single family home for rent and the intent is to work up to apartments.

Thanks,

Lance

Hello, I am looking for a broker I can work with to purchase a single family home for rent in Houston.  Ideally under $200, positive cash flow, very rentable, and potential for appreciation.  (Possibly Bellaire?)  Long term also interested in apartments. I live in Silicon Valley, California and would need someone that I could work with remotely.

Any suggestions would be greatly appreciated!