All Forum Posts by: Rodney Sums

2) What’s bad about Solar powered flashlights? They’ve been around since the 80s. Charge in day and use at night. Amazon got several even thought the company names are in all caps with random consonants. I get you were implying a solar powered flashlight with no batteries but….

Guys, regardless if this was intentional or unintentional click-bait, this has gotten weird, unproductive, and unnecessarily aggressive.

Thread lock?

Lol.

Interestingly, the military choppers, several, do have ejection seats, and yes they go up. Rotor blades have charges that blow-em off, or at least supposed to.

Regardless, it was just making a point, not to get lost in weeds of technicals.

Annual inspections are very important. It lends pro-active measures for various items that wear out, to effect maintenance early vs late. It lends insight into tenant habits, so one can make an informed decision on renewal or termination. And tenant mindset, knowing someone is checking changes habits.

The only tenants I have ever had who took issue with such inspections, were those with something to hide, not in theory, real world experience. Pet's had damaged something, kids had damaged something, there was reasons, reasons we only found about because of that annual inspection.

PM, in simplest form is: screening, monitoring, responding and accountability. Remove any 1 leg of the table, it get's real hard to keep things level and smooth.

Your comments are always the kind that I like, and get on my nerves at the same time. 😂😂😂 Regarding this subject, I agree with you though.

I also doubt the sincerity of the post...whether it was intended to advertise something, get attention, start an argument, or something else.

It is definitely is an inspection and I want it to feel like one. This is not a "kumbaya" momment. It's also not intended to make tenants uncomfortable. For me its:

-My way of letting you know not to mess around with my property or violate lease terms, because I'm watching

-An opportunity to catch what tenants fail to report and gets worse over time

-An opportunity to share their concerns so I can be of better service

-An opportunity to gauge if I want to renew their lease

It's not a preventative maintenance visit. Someone is coming to look thoroughly at the property. I won't disguise it as something else to be warm and fuzzy. If anything that could look like a lie. "If it's preventative maintenance, why are you looking in the closets?"

1 Vote

Gilbert, Arizona

Quote from @Jake Andronico:

I was NOT a fan at first, but some of his principles (though not all) have resonated with me.

Curious to hear everyone's thoughts.

In short, everyone here agrees he's right about most things he says....except financing.

That's because all of us here use it and see what it can do when used properly.

3 Votes

Reno, Nevada

What is your perspective on these investors, the response by the communities and politicians?

Side note: this is why I tell people not to finance a mobile home and put it on leased land. One man said he could by a house and pay less for it than what he pays to be in the MHP. Can't help but wonder why they didn't do just that aside from down payment challenges.

1 Vote

Quote from @Corey Conklin:

It would be easy to understand why it is so hard to find a good property manager if investors would look at it from the other side.

A property manager is paid very little to do the hardest work in real estate investing! They are getting their butts kicked day in and day out while you, the investors, sit back and collects a check every month. They are the ones handling the late-night calls, the needy tenants (and owners), chasing down payments, dealing with bed bugs, providing financial statements, leasing, maintenance inspections, property marketing and so much more. We expect them to excel at all of this while keeping your costs at a minimum. Seems realistic to me!

With the boom in real estate investing and the growing demand in the need for property managers there seems to be no way that this model is sustainable. Unless investors come to terms with the quality of service a company can provide at the rates that they are willing to pay.

Just to be clear, the intent wasn't to bash on property managers as a whole. Considering everything you said, it adds to my point why an investor should walk their property if at all possible.

PMs should definitely be treated with respect and appreciation.. I see PMs as an ally.

The challenges that come with the business are on the proprietor of the management firm, not the investor. They should not promise a level of service, and show pictures of people smiling having a picnic on their website if the business is too challenging for what they charge and they can't deliver what is advertised.

Yea, as an investor you should get to "sit back and collect the check" just like we sit back and collect a plate a food brought by a server at a restaurant. You pay for that luxury. Overall we don't just sit back. It took work to afford to invest, research where to invest, and the work that is done when decisions have to be made.

0 Votes

Quote from @Ned J.:

The wealthy and powerful dont go to CA ordinance meetings. All their influence happens behind the scenes.

When these types or ordinances come up, for me its all about following the $$...who is truly going to benefit from these changes. These type of regulations dont just change out of the goodness of their hearts....someone is looking for a way to make more $$.

In my experience most people looking to add an ADU are looking for a way to add income or equity to their property and the average joe isnt going to get the government to allow him to do that if its been prohibited before. When the big boys want to do it, it gets done.

So the private citizen and the housing advocates may show up at these meetings, but nothing changes until the big boys with the $$ want/need it to change

I was thinking along those lines. It takes something special to influence the city to change the rules, especially in what appears to be an affluent neighborhood. I'm curious why the angry owners don't take advantage of the ability to do the same thing the view blocking home is doing.

0 Votes

Quote from @Dan H.:

Quote from @Rodney Sums:

Quote from @Bruce Woodruff:

I always take a good hard look at any property I purchase, especially a primary residence. Who is living nearby? What would it look like if they built a second story or new unit? Or just let their trees grow? If a view lot is that important, you really have to think hard about what might impinge upon that view.

These neighbors have no recourse it seems, and although I feel a little bad for them, I gotta say, not too much. First World problem.....

Exactly. I found it ironic these folks were savvy and wealthy enough to own such homes but it didn't occur to them to have the same considerations in advance.

I also found it interesting this was prime time news worthy. Stop the presses! 3 people will no longer have a panoramic view of an ocean!

Note ab2221 is a new law that increased height restriction in a transit zone. It is very likely that this ADU could not have been built on the 2nd floor a year ago.

I hate zoning rule changes. You purchase properties expecting zoning to mean something. It is possible and probably likely that they looked into if it was legal for the neighbor to block their view. Then the rules changed.

This is akin to playing a game and mid game the rules get changed.

I hear you on that, good pont. I thought I heard them reference a change after the fact, and that is indeed unfortunate. My first comment was to check the zoning, and other pertinent information, which would be to consider if any other property is in front that may have the potential to be built or built up. An experience like that is good to learn from.

@JD

@JD Martin

Your first point is spot on and I'd be of the same mind, especially if a view puts a premium on the property.

On your second point Id like to engage that more. And I don't disagree with you. Their ocean view will not be as panoramic and potentially cause an economical loss like you said. On the flip side, they also have the option to build up and add an ADU with that law change (if their property can support one). That's a potential income property, more $/Sq ft, their neighbors home will increase in value and may help theirs, perhaps if they build higher they can have the panorama again?

0 Votes

@Bruce Woodruff certain experiences can certainly make way for doubt in that regard. The one I have in Phoenix is good though. I still walk it myself

@Travis Bohling @Richard F.

I concur. Video can be helpful but not for scrutinizing. There's good people out there that do well. Not everyone catches everything. I believe when it's yours, you look harder. I also try and look at it from the perspective of the post COVID tenant that has the subconscious fear of living in someone else's past. For example a stain can make them dream up a million possible sources. "Did someone die and bleed right there? Where they freaky and liked to make love on the carpet? We can't live here"

2 Votes

Quote from @Bruce Woodruff:

These neighbors have no recourse it seems, and although I feel a little bad for them, I gotta say, not too much. First World problem.....

Exactly. I found it ironic these folks were savvy and wealthy enough to own such homes but it didn't occur to them to have the same considerations in advance.

I also found it interesting this was prime time news worthy. Stop the presses! 3 people will no longer have a panoramic view of an ocean!

3 Votes

Here's the story if it hasn't been discussed here before:

https://www.nbcsandiego.com/news/local/solana-beach-neighbor...

How would you respond?

Personally I would have researched the zoning laws and other pertinent information regarding the potential for a blocked view before making the purchase

2 Votes

Quote from @A.J. Vanderhoff:

A family friend of mine who is a long time real estate investor with several properties has offered to sell me one of his properties. It's a 5 bedroom house with two 1 bedroom apartments attached to it.

He said a realtor has advised him to sell it for $500k so he wants exactly that as well as $80k down at a 6% interest rate. It's not on the market and he does not have to sell. If someone is interested in buying it (like me) he will sell for what he wants.

I do not have the $80k for the down payment. If someone could help me with my situation of needing to raising capital and how I should go about it I would really appreciate the input.

My concern for you is if you don't have a down payment, then you don't have any reserves either.

4 Votes

Eugene, Oregon

All Forum Posts by: Rodney Sums

Rodney Sums has started 25 posts and replied 558 times.

Post: Stop Inspecting Occupied Rentals

Post: Thoughts on Dave Ramsey?

Post: A fight against investing in Ohio

Post: Don't believe your property manager when they say...

Post: What would you do if your ocean view were to be blocked

Post: What would you do if your ocean view were to be blocked

Post: Don't believe your property manager when they say...

Post: What would you do if your ocean view were to be blocked

Post: What would you do if your ocean view were to be blocked

Post: Seller financing a triplex - $500k, $80k down, 6% - I don't have $80k, help?