All Forum Posts by: Christine I.

@Chris Seveney thank you for maintenance advice agreement.  I did not think of that. This is a huge expenditure for my small business. Appreciate your comments. 

@Sergey A. Petrov You just opened up a whole new world for me! Wasn't aware this service was a possibility for me. I just googled the term elevator consultant and found one not terribly far from my location. Thanks!

@Richard F. Thank you for some great advice! I honestly had not considered a temporary move for tenants. I have discovered that people want to stay where they are even after I offered to cover the moving costs to a lower unit but maybe by broaching it as temporary (I'm told 3 weeks for work and 1 1/2 weeks to get state inspection) they would be more cooperative. I'm hoping that I am not legally required to foot the bill for a hotel stay. I'm also hoping I won't have to deal with people that are very capable of using stairs but prefer not to. Much appreciate your thoughtful reply!

I have 3 elevators in 3 buildings, built in the 1970’s. Each building is 2 levels with 10 apartments on the second floors. We have owned these for quite a few years and I plan to continue ownership. I’m in California. Anyone had any experience doing an upgrade such as this?
I’ve got one bid and in the process of getting a second. It sounds like they will be similar. Have a question in to an attorney of what my legal obligations are to upstairs tenants. 
If you have any experience I would love to hear about it. 

@Andrew Syrios and @Kim Tucker Thank you both for great advice in exercising caution when investing out of state. I'm currently exploring Ohio and realizing I may not be cut out for long distance RE investment. I want to see with my own eyes. 

@Basit Siddiqi I'm very aware of the step-up basis which makes a huge difference in my life. I've already turned the past two years of my tax returns over to the new accountant that I hired who I'm told has a lot of experience working with RE investors. Am also preparing to do Form 706 and split the trust. I had to get all property appraised. Who knew how expensive that would be. One of my main concerns is the fear of people taking advantage of me. The financial and legal aspects are complicated and I don't always understand everything. So right now I have a financial expert on my side, a new attorney who will help me make decisions about how to fund both trusts and a new CPA who hopefully will keep me on the straight and narrow with my taxes. Lots of people looking over my shoulders

@Curtis Mears I can't know if he will follow through with agreement. Eviction is not cancelled if he is not out on Friday at 4:30pm. He has a lot to lose if he is not out. He may be too dumb to understand this, though. 

@David P. I’m in Ventura county. And I accepted the deal. This is my second eviction for non-payment since Covid restrictions ended. Over the years I’ve had to do evictions and I think I can remember one case where we actually got payment of expenses from an evicted tenant. This was about cutting my loses. I truly hate the thought that he’s been saving up for first and a deposit so he can repeat this behavior on some unsuspecting landlord. I have one more to get out. The cost of doing business in California. 

@Manny Vasquez Thanks for your reply but mainly wanted to thank you for your expertise on STR market. I'm a computer idiot and somehow lost what you wrote but did read it! For now I am sitting on the side lines waiting for less worrisome time to invest in expensive property and saving my pennies so I can be more prepared to jump when I see a potential property. Thank you.

@Cameron Pendergraft Not sure why my message to you did not show up. Just wanted to thank you for your advice!