All Forum Posts by: Deepak C.

Thank you all for the replies and the suggestions. I was halfway there, but the replies have gotten me all the way to hiring a property manager. I completely agree that CA is a heavily regulated state and I’d much rather do everything by the book!

 The mailbox in question was attached to the fence. In this case it involved removing the damaged mailbox and installing an equivalent one. I was living in Austin at that time and the property was in Houston. I was able to make the trip as I had some other work, purchase a new mailbox ($30) and remove the old/install the new in less than 10 minutes. About $250 they quoted was for labor. Of course I decided not to keep them going forward. 

Hi BP Community,
I recently purchased what I thought would be a vacation home for us in San Diego, but instead deciding to convert it to a rental. I’m from Texas and somewhat unaware of the nuances of being a landlord in CA. I do own a rental property in Texas and manage it myself. However, given that I’m out of state, I’m contemplating using a property manager. I’ve had a couple of not so positive experiences with property managers in the past, here in Texas. For example, the PM wanted to charge $300 to replace a broken mailbox. I’d like your thoughts on using one for this out of state property. Also, what is a good resource to find reliable property managers? Thank you in advance for your time and expertise!

DC

Thank you so much for the reply. I live in Texas, so info on San Diego STR rules is very valuable. Thanks for that.

As for the rationale, should I talk to the lender about it? Is there a reason for them to say no, given that it would have made no difference to them one way or the other?

Hello BP community,

I’m a newbie to real estate and had a question that has in the past been addressed to some extent. I wanted to see if there are any lenders here that can provide their input.

I recently bought a secondary home (2 months ago) in San Diego CA. I put 25% down, and at that time we were thinking to keep this as a vacation home where we plan to retire eventually. It was also financed as a secondary home (I was told that there is no difference in rate in the current environment between a second home or a rental). We’re reconsidering our decision to keep this as a second home and want to make this into a rental so that it does not sit empty most of the year. Based on the rider, this has to be a secondary home for at least 1 year. Can we ask the lender about converting this to a rental? I don’t want to just do it and potentially commit mortgage fraud. 

Alternatively, it seems like we can make this a short-term rental. Is a month-to-month lease considered a short-term rental?

Thank you for your time and help.

DC