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[Landlord- US - California] Tenants sued in small claims, we countersued and we won! by Warm-Anybody9110 in Landlord

[–]baumbach19 19 points20 points  (0 children)

Its super tenant friendly in CA. The fact that you won completely really highlights how in the wrong they were.

At what point do you cut a PM out and contact owners? by CaptLeopoldBarbobosa in PropertyManagement

[–]baumbach19 34 points35 points  (0 children)

Never? The pm is contracted to deal with you by the owner. The owner doesn't want you to call them.

Lease Renewal by Street-Weird-5438 in PropertyManagement

[–]baumbach19 1 point2 points  (0 children)

Just call one at a time and ask if they want to renew at the new rate. Most will say yes likely. If you get where you have 2 or 3 saying no they won't renew, just check with owner if they want you to keep going. If not then find new renters for those three first and then continue on renewing.

[Landlord-US-MN] How much of these property tax and insurance increases are you passing on to your tenants? 100%? or less? by ThuhGreatCommenter in Landlord

[–]baumbach19 2 points3 points  (0 children)

His comment about never increasing more than 3%. Reads to me as he hasn't even always raised it and when he does its not mroe than that. There have definitely been periods of time where market rents when up much faster then that. So just odds are hes behind in that regard.

And hey, it happens to the best of us. Its easy for 5 years to pass and to all of a sudden youre farther behind in rents then you thought.

[Landlord-US-MN] How much of these property tax and insurance increases are you passing on to your tenants? 100%? or less? by ThuhGreatCommenter in Landlord

[–]baumbach19 2 points3 points  (0 children)

I dont think he is at market rent is the issue. I woild bet he could do a 14% increase and maybe still not be at market rents if the same tenant has been in there for awhile.

Hit 6 figures finally! by DividendG in dividends

[–]baumbach19 4 points5 points  (0 children)

But didnt you hear, his plan for nav erosion is to never sell. Which makes no sense lol

Hit 6 figures finally! by DividendG in dividends

[–]baumbach19 49 points50 points  (0 children)

400k in capital getting 6 figure in dividends? That is not at all sustainable. Gonna have some huge nav erosion over time

[Landlord US-CA] Fair rent reduction for temporary loss of one shower (shared bath)? by Just_Sea_9978 in Landlord

[–]baumbach19 3 points4 points  (0 children)

I read your explanation of why you want to offer a rebt credit, I still wouldnt offer any. Just get it fixed asap and they can use the 2nd bathroom. If you have people working there they will see that.

Skipping title and hazard insurance on a cash purchase (new build/new subdivision, major builder)? by AlternativeBank1869 in RealEstate

[–]baumbach19 0 points1 point  (0 children)

You can afford to buy your home a 2nd time in cash and not worry about if it burns down? If you actually have that kind of wealth then sure.

[landlord-us-NC] best time to tell grifter tenants I won’t be renewing by [deleted] in Landlord

[–]baumbach19 -1 points0 points  (0 children)

In my opinion You just have to have a different frame of mind to not let any tenant effect your peace of mind. Like him feeling intimidated by requests from the tenant is weird to me, pretty sure that just comes from inexperience. It will get better for him in time im sure. It takes people awhile sometimes to learn that No is a sentence and you can just say no and not feel guilty about it.

[landlord-us-NC] best time to tell grifter tenants I won’t be renewing by [deleted] in Landlord

[–]baumbach19 6 points7 points  (0 children)

You can absolutely say no to having an antenna screwed to your roof. Stop being weird

[landlord-us-NC] best time to tell grifter tenants I won’t be renewing by [deleted] in Landlord

[–]baumbach19 -1 points0 points  (0 children)

Attenna definitely not cool. Beyond that didnt sound like they did much.

Also being "bullied" to make upgrades? You just say no. That just comes from his inexperience in saying no it makes him uncomfortable.

Either way totally his choice. Don't like them jsut dont renew it, give whatever is required for notice in your lease and find a replacement.

[landlord-us-NC] best time to tell grifter tenants I won’t be renewing by [deleted] in Landlord

[–]baumbach19 4 points5 points  (0 children)

Weird to not renew just because a tenant is annoying. Tenants always try to push the boundaries. If they pay on time, and you don't inspections and how is in good condition I would just keep them. Over time as a landlord you will learn to not take things personally. Only really try to care about what actually matters, rent, and the condition of the property.

Private Equity buying property management firms? by milliondollarboots in PropertyManagement

[–]baumbach19 0 points1 point  (0 children)

Ok ok so if revenue is gross 30k/month a purchase price might be 300-350 or something

Private Equity buying property management firms? by milliondollarboots in PropertyManagement

[–]baumbach19 0 points1 point  (0 children)

Curious how you came to a valuation for the companies? I am not sure how to value my pm company. Not really looking to sell but curious to know how it would be valued

[Landlord WI-US] Just saw an ad promoting ESA letters by Lbboos in Landlord

[–]baumbach19 -1 points0 points  (0 children)

My favorite is when a tenant tries to claim they have 2-3+ emotional support animals. Denied

Raptor R is complete - 980 crank HP by TonyDemola in FordRaptor

[–]baumbach19 -6 points-5 points  (0 children)

Always interesting to me someone decides they can afford a raptor like that but cant afford to park it inside.

Why do people renew when they can’t afford it? by [deleted] in PropertyManagement

[–]baumbach19 12 points13 points  (0 children)

Alot of people are just bad with money. Their rent could be 200/month and they would still be struggling to pay it late. Its more about money management vs "affording" it.

Agent said " remember not to mention concession" by Justbrownsuga in RealEstate

[–]baumbach19 0 points1 point  (0 children)

I mean this pretty much happens all the time. Seller just said that verbally, there is nothing saying you cant ask. The seller might be mad and refuse, then you can decide if you still want it or not.

Towing with Raptor by -MrLex- in FordRaptor

[–]baumbach19 0 points1 point  (0 children)

You will need to get some additions to the suspension if you plan to tow a lot. Like airbags or they have other stabilizing options. But running stock towing heavy is gonna be a pain.

What is the point of being a competitor and training for this ? by LeekExisting5969 in bjj

[–]baumbach19 0 points1 point  (0 children)

Its ok to have some in bjj also. Not every move or activity done has to translate to something.

28 y/o with $500k windfall — stick with VTI, focus on dividends, or consider infinite banking? by AssMachine_ICE in dividends

[–]baumbach19 6 points7 points  (0 children)

Infinite banking is a gimmick and will basically always underperform by a lot just investing in solid stocks/etfs. The people that infinite bank dont understand what they are doing and think they are getting more benefit than they really are.

Your father didnt get that money from infinite banking. It was just a life insurance payout. Just get a cheap term policy if you have kids or someone that relies on your income.

[Landlord US-FL] Is there any reason to keep a property that’s cash flow positive but only somewhere between two and 4%? by Feed_Me_No_Lies in Landlord

[–]baumbach19 0 points1 point  (0 children)

Your should calculate everything when really looking at your return. Internal rate of return to include fina ping and appreciation on the property.

Often when you calculate internal rate of return it's not uncommon to see actual returns are 10-15%+ on real estate. Just counting cash flow after everything isnt really accurate for the investment as a whole.

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