All Forum Posts by: Brendan S.

Did anyone see this? 

https://reinstate58.hjta.org/

To repeal the death tax part of Prop. 19. Right now if my kids inherit my rental property it will be reassessed to market value and their property tax will skyrocket - it takes a while, maybe a year or so after the death of the parent for all that paperwork to go through the county assessor's office. If someone's property tax is $6000 a year (parent's low property tax basis) then it goes way up to $25,000 with a reassessment many people would have to sell. It's only if my kids inherit my primary residence and live in the home that they inherit my low property tax basis. That's my understanding of Prop 19 and that passed under the guise of helping fire victims and senior citizens transfer their low property tax basis to a new property if they moved. 

This wasn't more widely publicized. I circulated the petition and got a few signatures but someone people didn't want to sign it. Someone actually tried to argue with me lol...This would have removed the death tax part of Prop. 19 but it didn't get enough signatures to get on the Nov. ballot, sadly

Hi All,

I live in NY but have family in the bay area. I'm looking to get a property in and around the Emeryville, California area. Would love to work with a knowledgable buyers agent. Any recommendations?

My understanding is that a SFH with an ADU would be considered a 2 unit so would be subject to rent control per S.F. Rent Board rules. My downstairs could be a studio apartment if I put in a kitchen. There's not much room in the yard to build an ADU so I'm unlikely to do that.

I wouldn't be able to raise the rent more than 3.6% with rent control. If an existing tenant moves out, the new tenant would pay market rate rent (this is what happened with the apartment building on one of the units). If it's a SFH there's no rent control. I talked to 2 property management companies who I should rent the house out to one tenant/one household (e.g a couple or family). If it's a roommate situation everyone is under one lease. Some landlords have a master tenant who collects rent from the other tenants but that's not the best way to set it up - I think it could potentially open up the tenant trying to seek legal action against the investor and say that they're under rent control protection with any rent increase.

Right now I'm self managing and renting to a family member who is getting a great deal (whole house to themselves) so I eventually need to get it up to market rent to make any decent income. My family member is open to having compatible roommates. I've considered doing MTR to travel nurses with the other rooms (would need to furnish the bedrooms). I've had other investor friends tell me I could rent it out by the room but that means separate leases, which to me would make the SFH now a multi-unit. It's confusing to me.

I found this about rent control in California. It looks like about a dozen cities and there's a difference between rent stabilization and rent control. 

 https://sparkrental.com/rent-control-in-california/

Were you able to find anyone? I am an agent in the Des Moines area and can refer you to someone over in Cedar Rapids. Feel free to shoot me a message.

@Brendan S. - The price point in Lake Isabella might be better, but the insurance might be outrageous due to it's very high propensity to experience yearly fires in the summer. There are only a couple of roads in and out of that community, and it's historically been very dry there. My folks have rentals there and I am an agent in Bakersfield. I would definitely recommend more of the Bakersfield and surrounding areas, without going to the lake. Please reach out if I can be of any assistance. 

Hello, 

. I am renting out 4 rooms in my home in west oakland.  I currently am living in the home parttime and come to Oakland 1 or 2 x's per month for work.  I am having issues with the "borders" not paying rent on time and not communicating when they are going to be late.  The house is extremely messy and I was bit up by bugs when sleeping last time I stayed there so I haven't been sleeping there when I come to town.  

I am considering selling my home due to the stress it causes me not knowing if I will get rent from my tenants and the state of the home is really depressing.  After trying to enforce late payments (we signed a written stating this) I was told my one of them it is unlawful to charge late payments.  I am currently looking for someone to advise me on what to do and what I can do to not break any laws.  I have called every landlord related lawyer I can find on google over the last 2 weeks and have not gotten askingle call back.  Can someone help advise me or recommend me to someone who can?  
Thanks so much for any assistance.  

The rental knowledge you have is something that other bay area investors don't have, which might be YOUR superpower if you decide to stay in the area. Wherever you choose, starting sooner is better than later! 

@Brendan S. - Very interested in the fact that Lake Isabella has been a location you have been looking at.  Why is that exactly?  Most people will go straight for Bakersfield at that point.  Fresno does seem to have higher prices than Bakersfield, and Bakersfield is growing at a pretty decent clip especially with all of the new development which has come over the past few years.  I am obviously a little biased to the Bakersfield area, but I think with the growth that is going on now, and the potential to grow into the future that Bakersfield would be a great place to look for investing.  We have been seeing a lot of Bay area investors down here as well.  Feel free to PM if you want to chat further about this as well!

 The Inland Empire is a great option and the Central Valley are good spots too. Those spots are both in a good price point and for prospective in growth a good place as well. There are a ton of stuff to see, buy and invest in within the state that can get a good property. Check out the podcast with Jason Pritchard, he is on the BP podcast and lives and invest in the Central Valley with a great portfolio.