Livermore, CA · Member since 2010 · 25 posts · 13 votes
Hi All!
Apparently I've been a longtime member (signed up in 2010), but finally now tuning in to BiggerPockets on a serious level. There is such a wealth of useful info here, it's mind-boggling! Why haven't I jumped in to the deep end of this pool...I don't know. But better late than never ;).
I'm an independent real estate broker in the San Francisco Bay Area with a property management division. My wife quit her job working at a local financial institution a year ago and is heading up my property management endeavors.
In addition to growing my company with hiring real estate agents and managing more properties; I'm now looking to increase my personal inventory of buy-hold real estate (rental investment properties).
Looking forward to helping others as well as enjoying the wealth of knowledge that abounds here!
Real Estate Agent · Las Vegas, NV · Member since 2015 · 2k+ posts · 1k+ votes
9y
Congrats you are certainly in an exciting area How are you finding the property management end of your business with all the political backlash against landlord rent controlled evictions? The only reason I ask there seems to be a lot of BP members coming across this problem after they buy rent-controlled assests to move into
Livermore, CA · Member since 2010 · 25 posts · 13 votes
9y
Hey @Account Closed.
I haven't seen too much political backlash (SF, Oakland, Berkeley) other than the fact of: don't buy a home as an investment in a rent-controlled area when occupied by a little old lady! ;)
Some investors/home owners will try to game the system to work around it...but the penalties are just way too stiff. Of course, the tenants don't need to be little old ladies...there are plenty that fall into the protected classes. In my opinion, it's just not worth it. And likely not worth the bad press either.
I've seen REO properties sit on the market for a long time at ridiculously low prices, all due to the simple fact of a tenant living there that doesn't want to give it up; even if they're not really bonafide tenants. A tenant will likely get free or no cost legal assistance/representation and the property owner will need to pay full retail cost of an attorney and legal fees to battle things out.
I don't know if I answered your question, or just expressed my 2 cents on the matter ;).