All Forum Posts by: Michael Johnson

Looking to buy a rental property 1-4 unit for a long-term rental in one of the two above areas. I would like people's thoughts on which the is better area and why.

Thanks.

As far as what happens if a partner where to die would depend on how the property is held (tenants in common, rights to survivorship, etc) and also how your partnership agreement is written (which hopefully you have one). The partnership agreement should also have a provisions for buying out a partner. 

This may be a bit outside the scope of the original article, but what kind of price do you put on the fact that if you own, you can change whatever you want about the house. I may pay a bit more to own vice rent, but my counter-tops, flooring, toilets, door handles, etc. are all ones that I picked out and that (to me at least) more than makes up for the added cost of ownership.

Jason,

In my experience, as limited as it may be, I have found the best thing I did to raise private money is simply talk to people you know about wanting to do a deal/project. I think you will find that there are lots of people out there who want to invest and have money to put towards a good project.

Sorry this didn't really answer your question, but it's just my two cents on the matter.

Thank you both gentlemen.

Hoping you guys can help, I know in my state (CA) it is 16 units. I can't seem to find any info on other states however, especially since Google insists that every search result displays info for CA.

I am constructing a Pro-forma for an apartment building here in San Diego. 13 Units, asking price of $6 million and I'm having a hard time finding a good number to use for insurance costs. What figure do you use and why?

Thanks for the replies gents, I'm going to give them a call.

Looking mostly in the Glendale area and north of downtown Phoenix.

Good Morning BP,

I am looking at purchasing a property in the Phoenix area and a buy and hold rental and would like to get in contact with a property management company that is in the area to discuss some details.