Sacramento Property Management

Happy day! Old year is coming to an end. We lost many accounts because of foreclosures. Our clients owed more than the property was worth. They felt it would take years for values to equal mortgage amount.

You can’t blame them from quiting to drag a dead horse.

I did read some good news for Sacramento Ca. The organization that recurits new business to locate here announced that they have more inquires from companies exploring the possiblility of locating in Sacramento then at any other time. Two new companies are close to making the decision to locate here.    This means jobs. Sacramento lost more than 45,000 jobs during this great recession.

I feel 2010 will be better so- HAPPY NEW YEAR EVERYBODY!

We will be closed until Mondy December 28. Until then we wish our subscribers, clients, tenants, vendors, and friends a

MERRY CHRISTMAS FROM LAMBERT MUNZ

AND

MELE kALIKIMAKA FROM MY HAWAIIAN PARTNER JUDY MUNZ

It is the reason for the season

A prospective client called the other day to ask about our property management services. I told him the information he wanted and then asked him what property he was buying. He told me a condo 4-plex. I said take my advice and don’t buy that type of investment property. He asked why. Here is the answer.

By the way this information is in my new book HOUSE INVESTOR’S MANUAL. A condo 4-plex may have 4 owners and 4 tenants. Never buy a building that you share control with strangers even your best friend. You will not be best friends after the experience of owning this type of investment property.

Suppose you have a bad tenant that the sharing owner doesn’t control. They may cause you to lose your tenant.

Another reason is that they are hard to rent and hard to sell. Experience tenants don’t like sharing a garage with the other tenants and don’t like the lack of privacy.

The only way to buy a property like this is to buy all 4 units. (However, I discourage buying a 4-plex period.

He asked me if he bought the property if I would manage it and I told him no. I referred him to another property manager. It sounded like he was too far along to back out.

I have discontinued comments because of all the crackpots. However, you can email you comments to me at propertymanager@arbourpm.com

FORECLOSURE SUSPENSION

Good news for those facing foreclosure.

Citigroup is suspending foreclosures from Dec 18 to Jan 17

Freddie Mac and Mae are also suspending foreclosures from Dec 19 to Jan 3

Perhaps these bankers  had a visit from Christmas past which thawed out their hearts.

I have discontinued the comments plug in. Too many fruitcakes (the reason may be the season)  with nothing constructive to add. However, you may comment  by email  at propertymanager@arbourpm.com

There are bogus property managers out there. In California they are required to have a real estate license. Ask them to show you their license.

We have acquired properties that owner’s former manager ran off with the rent.

A clue that they may be bogus is that they offer an unrealistic low management fee.

They also should have credentials that they have earned through education and experience.

You don’t want unlicensed or even licensed amatures managing your valuable investment

A big help in the operation of the home is operating manuals. Not all appliances operate in the same way. Very few people have been educated about home operation. Especially young people. They don’t teach this in school. We cannot expect people to operate a strange home, without some basic instructions. If they are coming from an apartment, most things were taken care of for them. We have to point out that onsite maintenance is no longer available.

I have had some thoughtful owners prepare an instruction manual on the operation of the home. I ask owners to do this for us now for us.