All Forum Posts by: Esther Thomas

Hi Everyone,

So this is a scenario that I encountered with my tenant a year ago, and in the end I ended up paying because I couldn't prove negligence on their part but moving forward i want to be more diligent about it. Besides the obvious, would love to know any other tricks or hints one can share on dealing with a similar situation.

My tenants were moving out and part of the deal is they had to get the windows washed (as they were washed upon their move in). They hired a window washer to wash the window. Upon inspection right before move out, I noticed the screens were messed up. All the window screens were damaged.

My husband, in disbelief that a window washer would cause that sort of damage, assumed that maybe someone tried to break in. In the end we have no idea how it happened, but besides the obvious of getting them to inspect it before hiring it out to someone, I'm assuming any damages that I can't prove were done by the tenants are my responsibility as the landlord. Any tips on mitigating such a scenario, either through something specifically written in the contract or through some proactive process?

I do think we should have a peninsula meet up. Maybe that will be my next contribution to BP :D I'll see if I can wrangle something up for May that doesn't conflict with the East Bay Meet Up.

Keep me in the loop on that peninsula deal @Account Closed Love that location. Time to come up with some cash :)

You're the hostess with the mostess. Okay you're a dude but you get the idea. You're so good about organizing meet ups! I will try to be there, and I can tell you about the 5plex I passed on in your hood. :)

In State / Out of State?
At this point in the game, probably both, pickings are slim in state :(

Strategy?
Buy and hold....hold for a long time.

Type of properties?

multi-family.

Looking for?

Meeting people, drinking buddy, learning some tricks of the trade, making connections, looking for seasoned investor, would be great to find some folks who have been doing this for a while.

Can offer / knowledgeable about?

Not a whole lot at this point in time, but hopefully I can once I get my feet wet.

thanks @Bill Exeter , that makes sense!

The property has definitely gone up in the past 3 years, 30%+

Okay advise Glenn, I probably need to talk to a CPA :)

Hi Everyone,

I have a former primary residence that I'm renting out and I can no longer qualify for the capital gains tax break if I sell it (have been renting it out for 3+ years).
My question is if I do a 1031 exchange instead for another property, SFH, and eventually end up living in that property for 2+ years (down the road), and then sell it while it's my primary residence (I know a lot of "what ifs"), how does this affect my deferred taxes? Do I still qualify for the capital gain tax break on primary residence or do I have to pay the deferred capital gains as it was originally part of a 1031? Any help, clarification, much appreciated. Thank you!

So the guy is paying $1,300 a month. His unit (assuming it's not trashed) would rent for $1,400 - $1,500 a month. He was paying $1,400 and negotiated to $1,300. I might try to see if I can take look at the inside this weekend.

This house is in the bay area and in a slightly rough neighborhood, and I think the reason why it hasn't sold already is potential buyers being apprehensive about all the stuff this guy might have and it could be a reason that the other side has been difficult to rent. At least he's not a jerk but would be great if he were a bit cleaner. Anyhow, something to think about next couple of days :)

Thanks all, lots of great information shared!