Money & Investing | Asian American Poll

MONEY & INVESTING
(Updated Tuesday, Apr 1, 2008, 05:11:59 PM to reflect the 100 most recent valid responses.)

Who handles the household checkbook in your family?
The Wife | 74%
The Husband | 26%

Which of the following ethnic groups attaches the most importance to making money?
Chinese Americans | 51%
Vietnamese Americans | 14%
Japanese Americans | 1%
Corean Americans | 30%
Filipino Americans | 4%

Which of the following do you consider to be your most important investment method currently?
Buy/Upgrade Own Home | 39%
Other real estate | 4%
Stocks/Options/Futures | 31%
Mutual Funds | 10%
Bank Deposits | 16%

This poll is closed to new input.
Comments posted during the past year remain available for browsing.

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WHAT YOU SAY

[This page is closed to new input. --Ed.]

To: 1/2LostSoul

Yes, bad tenants are the worst thing that can happen to a property owner. But bad tenants are just another cost of doing the rental business. In my experience, I only had to evict one tenant – one that I inherited from the previous owner.

Tenants who pay late or refuse to pay are not as bad as tenants who pay and disturb other good tenants. First, it’s a lot easier to evict a tenant who doesn’t pay – you start with the 3-day notice and proceed. For those who disturb others, the disturbances are much more subjective, but the effect is that you can lose a bunch of good tenants along the way. Whatever property damages the tenant cause, you can sustain. The biggest cost is if you end up losing good tenants because of a bad one.

I was actually very close to having to evict another tenant. However, instead of going through the process, I offered her the deposit balance plus $200 in cash, and I offered not to deduct damages and cleaning, and I offered to move her out – provided that we move her out in 24 hours. She took the deal, and I was out about $2k and a big Chinese dinner for my buddies who helped out. But that was a small price to pay compared to 3 months in the eviction process and possibly losing other good tenants through the ordeal.

I’m not sure what it’s like in NYC – I know you have rent control. Do you also have what we call here in California just-cause eviction? Berkeley always had ridiculously stringent laws against property owners, many of them later found to be unconstitutional. Back in 1998, San Francisco passed Proposition G, which is just-cause eviction. Thanks to Mable Teng, who drew up this proposition and sold us out to the dirty Willie Brown San Francisco politics. You have a bunch of hoops to jump through, even if you want to reclaim the premises for your own use. Oakland now also has some form of just-cause eviction as well. For all the great things Jerry Brown did for Oakland, I’m surprised he let this one slip by.

I might be wrong here, but I think San Mateo and Santa Clara counties do not have rent control and do not have just-cause eviction. I think MLK is in the clear in her area.

Repost Saturday, July 06, 2002 at 01:48:49 (PDT)

Repost,

Where do you go to purchase rental properties? Internet, or a real estate agent?

Also, how and where do you find your tenants?
B. Lee Friday, July 05, 2002 at 23:23:05 (PDT)

to Repost

What do you mean by "ping"? I don't understand. Is that a way I can contact you, much like email?

I let a friend test drive my car and he said it feels like he's driving a toy car. So much for the male perspective on the Miata's driving experience. I've gotten a really good tan because I drive everywhere with the top down, and I'm normally very fair-skinned. You also misunderstood my comment. I meant to say that if I make a major investment mistake at this critical time, eventually, when I grow old, I will become a bag lady sleeping on a San Francisco street corner rather than an old woman who can afford to retire in sunny Bora Bora, writing my best-selling historical romance novel or something like that. Camry? Gosh, that's a really staid dull car, just what an old woman would drive...although I dare say, once I reach the golden age of around fifty or so, I would love to get my wrinkled buns into a nice Jaguar. Now that's what I call an old woman's car, but with cool class! hehehehe...can't you just imagine me in one?

By all means, please take my comment about you being a lawyer as a compliment. You write very well and you sound like a very well educated man.

And I can't afford your 1Mil duplex, but I do appreciate the offer. My sister (she lives in Texas) says property there is soooo much cheaper to buy. I don't know. It really does sound complicated. Perhaps I could use some professional help from you. Please show me how to ping you. thanks!
MLK Friday, July 05, 2002 at 23:10:14 (PDT)

Repost,

Yeah but employment checks don't give any information to payment behavior and bad credit or what not.
AC Dropout Friday, July 05, 2002 at 14:09:24 (PDT)

1/2LostSoul,

"Tenants have a lot power in nyc and can stall for months to years."

Four months actually. Unless they really know the system, maybe six. But you can get them evicted at a price.

I heard TX is the most landlord friendly state.

AC Dropout Friday, July 05, 2002 at 14:07:57 (PDT)

MLK,

Hey a new belt cost $5 dollars. I can get a cup of coffee with that!

"My suggestion is the newest in fashionable colors of hot pink, key lime green, or leopard skin with gold highlights"

Is that the description of the new belt system or your underwear draw.

You have to be a pretty tough guy to get mad at a piece of balsa wood and break it in two. Usually martial art masters don't have dogs helping them out. :)

"sexual miscreant, you!"

Oh please, it has been proven in a court of law I'm a normal guy in my sexual practices. Please get your mind out of the gutter. :)

"My favorite sport is curling. "

For real, I love watching blonde women sweep the floor with vigor. I should invite you over to the estate sometimes to show me your technique.

"...my hair, that is"

Oh I get it. But doesn't that hurt the sensitive skin in the pubic region. Wouldn't it be easier to get it waxed.
AC Dropout Friday, July 05, 2002 at 12:25:49 (PDT)

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