All Forum Posts by: Bruce Umeck

Hi Jessica

I have 2 condos in California and with the water shortage out here , the HOA fees include the water service and now they have sent out a letter saying that all 180 condos will be getting a submeter installed for their water service.

FYI

Hoping to get advice setting up a California LLC ........ did you use a service or DIY?

Is there anything you would do differently?

Thank you for any input.

Thank you all for your input.   .

Family has 2br 2bth condo in over 55 community.  Renters have been in unit for 3.5 yrs- very good tenants - now on month to month.   I called this week to set up date for carpet cleaner to do the unit.  ( carpet is 4 yrs old so want to do preventive cleaning. no charge to tenant)  Tenant wants to get vinyl wood flooring instead and says she will pay for herse lf.  

Has anybody run into a problem letting the renter pay for new floors?

Since this is a condo I checked with the HOA and they said it is all on me since i own it.

 I have not raised rent in 3.5 years so is she doing this so i won't raise the rent. ( retired couple who has the bills paid by their daughter)

Thank you for any input 

I have inherited a condo in California worth $325,000. mortgage free and rented out . only paying taxes and HOA fees ( $475/month) Rent is $1795/month . I would like to purchase a property using some of the funding available from this condo. Asking advice on what would be the best course of action in this crazy time of Low interest rates - high property prices here in CA. - should i wait for the market to go down? Should I buy in another state , lower prices . Should I set up this property as an LLC?
I wanted to get any advice from an experienced investor on what they would do if they were in my position.
Thanks

ok not in texas but in California - in most cities you can rent out the ADU and not live on the property .....but some cities are adding more restrictive laws ...such as owner occupied requirements.......

With 2021 here and California just extending the noneviction moratorium till June 2021, is it a bad time to invest in buying a SFH or a duplex? I know this not a simple question but hoping to get some good advice.

is this property in California - if so , how are the covid non evict rules working here?