All Forum Posts by: Account Closed

Hi @William Mendoza

Welcome to BP! I'm also located in the bay area and always welcome the opportunity to network with local RE investors.  It might be advantageous to both of us to chat about targets and goals.  Let me know if you're interested in meeting up sometime. 

Good luck, 

- Chris

Hi Keith,

I replied to  you DM, but I'll reply here in case others are following the thread.  We ended up buying a primary residence instead of a rental, so we didn't require legal assistance at the time of my original post.  We have recently begun looking into rentals again, however, and thus also began considering RE attorneys.  If I receive a worthy recommendation I'll pass it along to you. 

Best,

- Chris

Hi @Ann Nguyen

Have you thought about xeriscaping your yards? Many homeowners and landlords alike have converted their traditional lawns to xeriscape (xeros = dry, -scape => landscape) in recent years, both for environmental and cost savings reasons.  The conversion might cost you a bit upfront, though it should eventually begin to pay for itself since it is quite low maintenance.  If done right, the results are equally as impressive as a well kept and maintained traditional lawn, in my opinion.  Here are some ideas for Northern California xeriscapes.  Btw, since I had a minute to spare, I just called the first landscaping business I found on Yelp in the Mountain View area, "Total Landscape." I inquired about xeriscaping a yard, and the guy I spoke with pretty much blew me off.  He wouldn't even offer me a quote.  He also said they're booked until September. 

Out of curiosity, how did you acquire your apartment? I'm on the market for a multiunit myself and am not totally convinced I should work with an agent. 

Thank you and  

@Dan Barli

@Tony Kim

Hello BP, 

We are considering moving out of our condo and into another property.  We're entertaining the thought of keeping the condo and turning it into a rental.  I'm wondering if, in the state of CA, we can claim depreciation on our condo since, technically, owners of a condo do not actually own any part of the physical building, just the airspace between the walls. 

Secondly, if we can claim depreciation on our condo once we put it "in service" (IRS jargon for renting it out), from which value would the depreciation be based? We bought a few years ago and we have since experienced some nice appreciation.  Will the depreciation be based on the value of the home at the time we rent it out, or will it be based on the original purchase price? 

Thank you for the extra details 

@Account Closed

I always appreciate information from people who have their finger on the pulse of the market

@Joe Zinger

Right, next door.  Good suggestion.  That's become quite popular. 

Indeed, @Dennis M. I share the same thought. At least I'd get a little interest with a savings account. Last time I checked, the ROI on making donations to an insurance company for over-priced insurance wasn't that good lol

Thanks, @Leo Kotschenreuther.  Is your rent withdrawn automatically from your account, or do you initiate the monthly payments yourself? 

I'm new to landlording and am curious to know how experienced landlords in my area attract quality tenants.  Specifically, I'm in the south bay area of CA (sunnyvale, mountain view, Santa Clara).  As one might imagine, there are a lot of millennial techie types in the area.  What would be the best strategy(ies) to attract this demographic? I know there are quality tenants in other demographics, but this is the dominant renting demographic in my area and I'd like to make my advertising efforts as effective and efficient as possible.  Do Facebook ads work?  Rent.com? hotpads.com? Other ideas?

Thank you!