All Forum Posts by: David Yu

Quote from @Robert Ellis:

Quote from @David Yu:

Out of state investor looking to connect and build a team in Ohio with broker/agents, licensed general contractors, wholesalers, insurance brokers/agents, lenders, property managers, and more. Investing in Columbus, Cleveland, Akron, and Cincinnati in properties 3+ bed, 1000+ sq ft, cosmetic rehabs for long term rentals.

 have you looked at new construction or building to rent? newer trend but good strategy to consider in columbus MSA

 I haven't thought about it just yet. It may be something I consider in the future!

Out of state investor looking to connect and build a team in Ohio with broker/agents, licensed general contractors, wholesalers, insurance brokers/agents, lenders, property managers, and more. Investing in Columbus, Cleveland, Akron, and Cincinnati in properties 3+ bed, 1000+ sq ft, cosmetic rehabs for long term rentals.

Looks like I missed this one! Would also like to be notified if there is a next one locally here in the South Bay!

Thanks for your responses. It seems unanimous that we won’t be able to do anything at the current time. Thank you

Quote from @Marshall Leipprandt:

@David Yu If you are still searching for a property, I would recommend meeting with a landlord lawyer before you do anything unless of course you find a property that will be delivered completely vacant. Before that meeting, give this a thorough read to try to understand as much as possible: https://housing.lacity.org/res...

Even the most "affordable" duplexes in LA County are pretty pricey, and the cost of having a lawyer help you understand the ins and outs of a potential purchase is negligible in the long-term. Plus, you'll have a connection established for when you do purchase a property if problems ever arise.

Are you looking to owner-occupy a duplex or will it be strictly tenant filled? Good luck in your search!

Thanks Marshall - It would've been a strictly tenant filled. Owner occupied is not an option at the current time. I agree, this is definitely something I would probably want to consult with a landlord lawyer. Thanks!

Quote from @Greg M.:

As you might be aware, the laws in CA are rapidly changing and changing in favor of tenants. Best to check with a local attorney.

No one is going to negotiate a new lease with you at a higher rate. Why would anyone do this? 

Last I heard, in RSO units in incorporated Los Angeles, rent increases and no fault evictions are banned until February 2024. After that a no fault eviction (AKA not renewing the lease in every other part of the world) can be done, but you may have to pay a relocation fee.

As you mentioned, Cash For Keys is a possibility. However, the payout could be massive. The free tenant lawyers are advertising not to accept payouts of $50,000, because they can get you $100,000+. 

 Thanks for the insight, super helpful. 

Hi! We are looking to purchase a duplex with Los Angeles RSO provisions. One unit is vacant while one unit is occupied with a tenant that is month-to-month and has rent that is way under market rent. What are our options in trying to get back to market rent?  Could we 1) negotiate a new lease with a way higher rent? 2) evict the tenant without any cause? 

I know we can try cash for keys but I know that is not always something that the tenant may accept especially with their rents being way below market rate. Looking to meet with a landlord lawyer but wanted to see if there was any general advice first. Thanks!

My wife owns astuteadvisors.co and she started out with Real estate investors/agents/brokers/developers so she has a pretty good grasp on real estate tax strategies and mainly works with her clients on tax planning. 

Looking for 1 ticket. Please DM if anyone has one available