All Forum Posts by: Jason Mak

@Ben Leybovich

Always presents a new and insightful way of looking at things

very nice!  congrats

@Casey Murray

Thanks Casey.  That's a great question.  On a large scale, office and retail as maintenance is pretty simple and I've personally had good tenants who paid rent (obviously this is attributed to location, quality etc).  You are also dealing with businesses, not families, so there usually is a straightforward and practical way to solving issues.  Hotels can be very profitable in a bull market but unless they are large (+100 - where you can outsource management), they are very management intensive.  You are essentially running a business now with many employees and more liability.  However, the ability to raise and lower prices on a daily basis allows you to make good cashflow when times are good.

However, in the end, if I could - I would still stay with the recession proof nature of multifamilies.  Unfortunately, everyone is trying to get in this game making it difficult to get a good deal.

Sorry to hear about your situation.  I've had many difficult tenants that I've needed to evict.  I usually give them a chance to work it out without hiring a lawyer but afterwards, I will simply hire a lawyer and let them do their job.  Sorry about the cash drain.  

It might also be worthwhile to contact several other attorney's to get a consultation or separate opinion.  It could be possible that your attorney is missing out on something or simply not experienced with this type of matter. 

Best of luck

Great thread.  I recently put in a new lawn and due to drought restrictions, the lawn went to hell in a few months.  I think drought tolerant is the way to go and can be made to look quite beautiful.  

When you have multiple buyers, how do you handle a buyer who matches the highest buyer's price (or beats it by a little bit)?  

For example: buyer A offers $90k, buyer B offers $100k.  Buyer A immediately offers $102k.  

Do you ask for a best and final from both?  Or give buyer B a chance to match/beat? 

Just wondering how others play this game

@Jeff Greenberg How are you my friend?  Sorry but I think you missed my sarcasm in my comment.  But that being said, the OP asked why would anyone sell a good asset and while I agree with what you say, I've seen plenty of transactions driven by ego!

hubris - some people like selling the property to show others that they made a huge profit!