All Forum Posts by: Yiv L.

Auction closes on June 11? I still get time to sell one of my props to bid on the thing :-)

Thanks Mike F. I like the idea of nail and take picture, then mail another copy.

I think the following scenarios can happen:
1. When a notice is served in person (ie 5-day notice pay rent or quit, termination notice, ...), what can we do if the tenant refuses to sign and acknowledge?
2. If the notice is sent by certified mail with signature, can tenant still argue in court that the letter he/she received has nothing to do with the subject on the case.

Please tell me my worries are unfounded.

In Arizona, it is even illegal to let someone live a house for free just to avoid maintenance and keep up the place.

For my "higher end" apt rentals, I put tile in kitchen, baths, family room and hallway, and laminate wood floor in bedrooms. You can get very good laminate wood (the one feels like real wood) from Floor and Decor (if there is one around your area) for $1.3-$1.6/SF, $0.30/SF pad, and install fee is the same as tile ($1.2/SF in my case). This creates good color contrast between hallway/kitchen and the bedrooms for "high end" feel.

For lower end rentals, I put tiles everywhere, including bedrooms. HD is good place to pick up small quantity clearance tiles for good price.

I normally tell the prospective tenant this is earnest deposit, not security deposit, and the earnest deposit will be applied toward security deposit amount later when they sign the lease.

This is got to be my quote of the week, and it makes perfect sense.

Thanks Thomas. No, I do not have plan to invest in Atlanta. I was just curious about the locations of $30k-$40k properties. Phx metro used to have $10k-$20k properties too, but I would be nervous just to drive by those areas. But looks like yours are all good.

Thanks Thomas for your success stories. Do you mind sharing which area(s) in Atlanta of your investment concentration?

Thanks everyone for warm welcomes, tips and advices.

@Sabrina Laplante, Prescott is a much smaller town than Phoenix metro. It has higher elevation, so day time temperature is not too brutal in summer :-) Should be quite a nice place to live and play

@Justin S., Nice to see fellow Chandlerites on this site. Let's have a drink some days and talk more about investing .... ;-)

@Jon Klaus, I paid $190k for each quad. Current rent is $650/unit. Probably not the best deal, but based on my rough calculation, it should generate some good cash flow if fully rented. There is not much inventory lately in SE phx area.

Regards,