All Forum Posts by: Jason Mak

thanks @Greg M.

that sounds like a nightmare but how am I not surprised.  Sounds like California politics and bureacracy at its finest. I'll be sure to find a good company.

Hi there - did anyone hear about this new law and requirement for all balconies to be inspected by January 2025.  I heard that the deadline for inspection may get pushed back until 2026.  anyone hear about this?

I don’t think I ever got a direct answer.  It has been tough to get straight and comprehensive answers around the state law, even when paying attorneys.

I ended up just serving a 60 day change in terms of tenancy, most tenants complied.  The ones that refused to pay their, back rubs balance, I just deduct it from their security deposit when they move out - since I am under the impression that you cannot evict someone due to  rubs

 @Preeti Tibrewala

Hi!  I didn’t get any response from this but I ended up subscribing.  It ended up being useful for me because of the constant changing COVID-19 three day notice forms needed  in the last few years.  

I also use it for other random notices and templates.  

Worth a try to see if it is worth it for you. 

@Scott Mac. I absolutely love that idea (though my wife would hate it! haha)

@Drew Sygit. thanks Drew - great advice - if I'm ever coming to Michigan I'm calling you!

Out of curiosity - how often do you talk/update your OOS clients and how often do they fly in to walk the property?

@Lucia Rushton

Thank you Lucia.  Just curious but do you typically find PM's willing to spend the time to meet with an OOS investor when they are flying in for site tours?  That's all good to know - as an OOS, the only insight I have to market operating metrics are the pro-forma provided by the listing agent and thus it would be a good idea to have them as part of the underwriting process to verify if the numbers are returns are achievable.  

For your OOS investors - how often do they typically fly in to walk the properties?

@Bob Stevens

Thanks for the reply Bob.  I'm interested in the OH market.  Generally, when do these investors get the property management firm involved?  During their acquisition search?  When they are in contract?  etc?

Hi there - I live in Los Angeles and own/manage my own portfolio of multifamily in LA county.  I have an in-house property management team and it works - I like it because I can control costs, be quick and actionable on delinquencies and other things that may come up.   It all works because I own the property and as the old adage goes "no one cares more about your property than yourself".

However, in contemplating going out of state - I know I'm not the first one here to ask this question - I wanted to some collective feedback and experiences from other people in my shoes.  Where are you investing?   How are you finding the property managers?  How are you holding them accountable?  What type of day to day/week to week/month to month involvement do you have as the owner?  Has the general experience been harder or easier than you expected?  And are the property managers meeting your expectations as well as your pro-forma?

Asking folks who are acquiring multifamily of 50-100 units buildings, and not for the turn-key SFH deals. Also - if you have any specific examples or experiences to share, rather than the typical "it depends"/general advice, that would be greatly appreciated!