All Forum Posts by: David Mirza

I know this thread is old, but selling is the worst choice.  Nobody here has factored in the appreciation of homes in California.  Doesn't that have value in itself!  Homes in California don't typically cash flow as well as homes in other parts of the country.  The reason for that is because the homes are steadily increasing in value and investors are willing to take a smaller cash flow in exchange for building equity.  It's the same logic that goes into paying a higher p/e ration on stocks that have higher earnings growth.  Had the poster taken the advice of others on this thread he would have most likely missed out on a return of $150k for his $100k investment, even factoring in today's market conditions.  

This doesn't even factor in California's tax laws that only allow property taxes to go up 2% a year regardless of the homes current value. 

Quote from @Paul Meyer:

@Danny Polanski does it really matter if someone has a criminal background if they have a quality employer and solid income? Your history doesnt have anything to do with how you choose to live in the present. And you would likely not consider a low income tenant with debt regardless even if they had a clean background check. Its kind stupid that you all are sqwacking like lame ducks over this. Just grow up some. Lime the NJ guy said. Business continues. Nothing changes maybe just your negative attitudes. And yes I do have a criminal background and Im a landlord too and all of my contractors are excons too. The best! 😂

 Not true, you could have something like a sex offender with a good paying job. Not all criminals commit financial based crimes.

I don't think we should get too worked up about this.  For those landlords that are experienced it will allow us to raise rents as new landlords will opt for other investments due to the vast amount of regulations/restrictions being imposed.  There was actually a study that I heard on NPR and they were discussing the direct correlation between ordinances to "protect" renters and increasing rents.

I have some SFR in stockton, CA and the insurance rates are going through the roof. Any recommendations for either companies that bundle multiple properties into one policy or an affordable individual policy?

Thanks for the advice.  Doesn't sounds like there are to many options here.  I don't really want to do a 1031 for more expensive homes because the price/rent doesn't make sense and we don't really have any nice 4 plex's in the area (stockton and sac).  My wife does own 2 rentals free and clear but I'm concerned that's not enough income to qualify for a loan.  I may need to pay off one of the rentals with a smaller mortgage and transfer that to her name so she can have additional income. 

I have 10 mortgages and can no longer get conventional loans.  Is there a way to transfer a mortgage to my wife without applying for a new loan?  I would like to free up my income to purchase more homes? 

If not, is there a creative way to allocate some income from the rentals to her so that she can qualify for new loans?  All 10 mortgages are in my name although she is a joint owner on some of the properties.

I would run the numbers and see if it would cash flow with 25% down.  When buying with no money down, it makes it harder to cash flow.

I try to keep them on the call as long as possible.  Sometimes even get callbacks.  If everybody answers these and other spam calls with the same mindset then you destroy their business model and the calls will end.

Originally posted by @Joe Villeneuve:

What crash are speaking of?  The one they've been predicting for the past 20 years?

 The crash they predicted 20 years ago happened 16 years ago. People who waited for it (like myself) made out pretty well.  

Umbrella insurance does not cover handyman injuries.  At least mine doesn't.