All Forum Posts by: Shiva Bhaskar

 Hi Sharon, fellow CA investor here (LA area). Not sure if this was mentioned already, but I am looking into Cleveland, and there is a very interesting all day neighborhood tour, and meeting with lenders, insurers etc, conducted by one of the turnkey companies, in October of this year. A friend of mine in the Bay Area owns a couple of properties in Cleveland, one through this company, and has been happy. If you  are considering that market, could be of interest to you - I am going myself.  

I"ve been connecting with folks here on BP who invest or sell in the area, and planning on meeting them as well during our visit. Sounds like you are doing all the right things, best of luck! 

https://therealdeal.com/2018/08/11/meet-prospect-h...

A bit crazy to me that in NYC, where rental prices are astronomical (I lived there for years), one wouldn't focus on putting tenants in the properties. But heck, if she owns it or is paying the mortgage, who am I to say what she should do? 

A few things for me:

1. Getting up early. I wake up before 5 AM on weekdays. Getting started before anyone else lets you work when energy is high, and you are not distracted by calls, emails, kids, friends, colleagues etc. Obviously, have to get enough sleep too. If you are a late night person, and work best then, then OK, consider staying up until 12 or 1 or whatever works, when no one can bother you. Point is, hours when your energy is high and you can't get distracted. 

2. Exercise. I try to go to the gym 5 to 6 days a week, and go for an intense power workout at least once per week. I think Tony Robbins said "Motion creates emotion." It's so true.

3. Recovering: I do think that burnout is real, and it is better to take a certain number of hours and be very highly productive, than to say we worked like 14 hours, but a lot of distractions in there. So, this means, eliminating all distractions when working, but finding time (ideally one day a week) when you really unplug. 

Fresno could be  good option for a bit higher cap rates, possibly some of the areas deeper in San Bernardino County (Victorville, Hesperia etc), or the Riverside area (one you get an hour or so out of LA county, going towards Coachella area.

However, if what you want is cash flow, as opposed to appreciation, CA is not the place to look, as compared to out of state. I'm looking seriously into Cleveland right now, like what I see. You can get good caps in B- / C+ areas, honestly even in slightly better areas. Connected with some folks on BP who invest in the market and have been happy. If you ask me, San Antonio is a market that will grow a lot in the future, arguably Dallas, Atlanta as well. All are becoming pricier, but good places to invest for sure. 

I think even if you end up with a lower rent after tenant leaves, this is a good deal. $40K for a house that is section 8 approved, and where it is very reasonable to think you could get at least  $700 to $800, even if a bit of work were needed, looks like a good deal. As long as the inspection is OK, go for it. 

I invest in Southern California myself and would not do this. We are probably at or near the top of the cycle in most areas, and when the unexpected happens (vacancy for a longer period or major repairs), you'll feel the pinch. There are still plenty of good areas in Southern California where you can get good appreciation and at least break even. Go look for those.  

 Jay Sahni at JSS Law in Manhattan is very good, whether for a closing or a tough eviction.  Feel free to message me for his contact information. 

 I haven't dealt with this myself BUT have heard from other investors that contacting their commanding officer is the way to go. He or she (and the military in general) have an interest in a solider paying their rent, and will generally take action to figure out what is going on. It's unfortunate you are dealing with this, but don't get down about the mistake. We are all human - you'll know better for the next one. Good luck! 

I am listing my single family rental, recently renovated, located in Gardena. We are pricing it in line with what's in the market for the area. What are the best places to list a home rental? I know Zillow and Trulia, and obviously Craigslist (which is not great), but anything else I am missing? 

Thank you all for discussing this. I think every single one of us should be concerned about this, and let people know what is going on. This is not just a battle that the big multifamily owners here in LA will have to fight - if anything, those folks are better poised to weather the storm. The heat will come down on the single family investors, especially in areas like Hawthorne, Inglewood, Long Beach etc.

I don't like to do politics on here, but we all know that promising voters something (like lower rental costs) will get votes, even if it is not the reality of the situation. I lived in NYC from 2011 to 2016, with plenty of rent control everywhere, and it remains the most expensive market in the country, with vacancy rates very low. But the supporters of this measure won't mention that.