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All Forum Posts by: Alnie F.

Alnie F. has started 2 posts and replied 10 times.

Post: California Rent Control

Alnie F.Posted
  • Walnut Creek, CA
  • Posts 10
  • Votes 9

Thank you!

Post: California Rent Control

Alnie F.Posted
  • Walnut Creek, CA
  • Posts 10
  • Votes 9
Originally posted by @James E Tan:

Given that condos are exempt from the state rent control bill, and the fact that FHA is relaxing its financing requirements for condos, I expect there will be more buyers for condos. Here in Sacramento condo prices have not recovered their previous peak in 2005. If interest rates continue to be low, I should think that the condo prices will continue to increase.

I have a condo built in the 1970s. Would that be exempt? That was not clear from the recent articles...

Thinking of renewing my insurance, currently with AAA for rental/home and Geico for umbrella and car. Any recommendations from San Francisco landlords? A colleague of mine got sued by his tenant and he had a positive experience with AAA not trying to get out of defending him. They are $1K more expensive than Geico for car insurance premiums and would only do umbrella if your car insurance is with them.

Welcome back @J. Martin! Love the photos. 

Post: BP I NEED YOUR HELP! starting real estate in San Francisco?

Alnie F.Posted
  • Walnut Creek, CA
  • Posts 10
  • Votes 9

Strongly recommend the meet-ups by @J. Martin in SF. I was in the same boat as you are about 2 years ago and attending the meet-ups helped me dive into RE investing. The seasoned investors will be more than happy to help share info and knowledge.

@Account Closed. Can't wait to meet everyone.

Post: Lots of application...noob question

Alnie F.Posted
  • Walnut Creek, CA
  • Posts 10
  • Votes 9

I am helping a friend rent her place. The rental rate is way below market here in the San Francisco Bay Area so for single day I had 16 showings and at least 5 applicants, with more to follow who will be sending me their applications online.

Do I have to run credit on all those who applied and paid or can I just shortlist the top 5 based on the answers to the application form and charge only the shortlisted applicants $35 for credit/background check?

I just feel bad having people pay $35 if I know they are not going to make the shortlist but want to make sure I'm not breaking any discrimination laws.

Thanks in advance for your help.

Post: How many rental properties do you own?

Alnie F.Posted
  • Walnut Creek, CA
  • Posts 10
  • Votes 9

Accidental landlord, so one. Hoping for a dip or plateau in my area and add another one soon.

@J. Martin building gun powder and just watching market for now. Always looking... and will act when the right opportunity is found. This is a bit addicting. :-). Had also tons of fun in your party, got to meet the local RE idols @Amit M., @Arlen Chou. Too bad I missed @Account Closed! 

@J. Martin Congrats again, you have been an amazing mentor and a major inspiration. Enjoy the whiskey and the travels! Keep us posted what you're up to. Are you keeping a travel journal or blog?