All Forum Posts by: Alex Zuroff

Interview #3 - I'd be careful with anything that's subjective, as a rejected applicant in a protected class could claim discrimination - especially if they otherwise met all of the objective criteria.

Application #4 - Failure to provide verification of employment/previous address/etc would be grounds for rejection in my opinion. 

Application #6 - Not being able to pay the entire security deposit would be grounds for rejection in my opinion.

So we really can't get 60% COC with that fund? And here I had already written the check out and everything. ;)

I just checked the Zestimate for our old house in Modesto (standard disclaimers about Zestimates apply...) - it's still barely more than half of what we paid for it in 2004, and less than half of what it appraised for in 2006...

So, it's very possible to lose money in Northern CA if you buy at the wrong time, like we did.

What should you do?  You should honor your word and give her a discount until the grass is in.

Let's say I'm holding an SFR in an LLC (call it "LLC A") and I want to 1031 exchange it into a 4-plex. Before selling the SFR, can I buy a 4-plex in a different LLC (call it "LLC B"), and once the SFR sells and the 1031 clock starts ticking, have LLC A buy the 4-plex from LLC B to complete the exchange?

Wouldn't a separate checking account only for "The Business" pretty much accomplish the same thing without the complexity of setting up a separate LLC?

The security deposit is there to cover damages you find after the tenant moves out.  If he moves out and leaves damage to the property, a fresh coat of paint won't help you too much.

Personally, I'd treat "Joe the Painter" completely independently from "Joe the Tenant".  Joe the Tenant has to pay a security deposit like every other tenant.  If you feel that the exterior even needs painting, Joe the Painter (assuming he has previous experience) can bid on that job along with other painters.  If he has the best bid, you sign a contract with him and pay him accordingly.