All Forum Posts by: Ana Marie B.

I wish I had your optimism when it comes to paying taxes @Benjamin E Salas. Glass half full approach is always nice :)

But do let us know if you still feel the same way after a few years (and don’t become jaded like the rest of us!). 

Exactly @Nathan Williams. His policies are conditioning people to be dependent on government aid — not self-sufficient, which should be the goal. 

Also, people will become spoiled and expect these types of assistance programs every time there’s economic recessions. Is spending billions (trillions) really sustainable? Someone’s footing this bill and it’s not the poor/lower middle class. Likely it’s the future generations who will feel the negative impacts of the decisions made by today’s politicians and be responsible for paying off this insurmountable debt.

@Michael Gabin - Not sure what city your duplex is in, but in San Francisco we have a nonprofit that helps resolve conflicts between tenants (among others, like LL/tenant and even relative vs relative) using friendly mediation. One of their specialties is communication breakdown.

In SF this service is offered by “Community Boards” and I often referred clients to this organization when I was working in eviction defense. Very effective.

You might want to google or check with housing resources (ie. Legal aid offices) in your city to see if a similar service exists. Good luck!

@Joshua Duenas - Welcome to BP! Just want to drop by and say hi since I rarely see folks from around my area.  I invest both in CA and out of state (OOS). Obviously pros and cons to both strategies. Good luck with your journey!

@Chipo Asare - Without knowing more about your tenants, I would just add that I’d be cautious about raising rents due to the eviction moratorium.

If these tenants are dropping hints that they may have difficulty affording a rent increase, they may become disgruntled if you proceed and decide to: A.) cont. paying you the lesser amount or B.) stop paying altogether. And with the moratorium, you’d have no recourse. 

For this reason, I personally chose not to raise rents on my tenants this year, unless I’m moving brand new tenants in. Just my $0.02.

@Jackson Andrews - I personally don’t see people moving out in my community. I live in the suburb outside of San Francisco called the Peninsula. 

I check listings regularly and still see low supply and high demand. Prices remain high in my area. 3/1 SFRs in the South San Francisco area are still selling for between $900k - $1M+, comparable to pre-COVID values.

@Greg Moore - Your post is so timely! I have an appraiser arriving in an hour.  This is for a refi. House was purchased for $1.55M and should appraise around there esp. with upgrades made  (I understand COVID has caused some decline in home values but a look at local sold comps should still get me around there). 

I’m already prepared for the appraiser to be someone from out of town who will use the wrong comps. My town is sandwiched between 2 larger cities and appraisers love to use comps only from the one city with lower value homes! I always argue to use the other neighboring city. Will see how this goes. 

Reading through this thread and I see people trying to be “PC” as usual. Let’s keep it real, whoever serves as president matters and it will have an impact on the overall economy. That’s why some investors choose the wait and see approach. 

Free college for all?  Guess whose pockets will fund such lofty initiatives. Definitely not the poor or lower middle class. Oh yes likely it will be investors like those on BP. Yay higher taxes!

@Kevin G. - Your plan to live in the home for a few years then move and rent it out is a good one. Actually it’s one of the popular ways people are able to become landlords in the expensive Bay Area

My husband and I got our start this way and several years later, our rental house cash flows very nicely. That’s because the Bay Area housing market is historically strong and rents increase nicely over the years. COVID is here but won’t last forever

Good luck to you! 

@Jon Schwartz - Here is your post a I was referring to: 

I'm buying what you're selling, Christopher! Do you have any links or references to support your third point? That Prop 15 is the first step toward reversing Prop 13?

Thanks so much!

Jon