All Forum Posts by: Gayle Eisner

Greetings:

You might consider doing a house hack.  Purchase mulit-unit and live in one and rent the other , hold on to some of the cash, until prices take a decline for you.  If you can afford to move and are prepared to live in the smaller unit, then you can "wait things out" until the market corrects and purchase something else at a profitable margin.  In the meantime, you can collect some rent, have a place to reasonably live and create equity and an investment at the same time.  

Or you might think about selling a rental, putting money into the new home, with the intent of converting/building something on the property, such as an ADU. Here in Bay Area, California, prices are already coming down so it might not be a good idea to sell the rentals but rental income is skyrocketing here. Good luck! A lot of us have that same dilemma.

Hi all:

I own a duplex in the Santa Cruz mountains, Los Gatos. Prices here are crazy high. I love the area/schools/great rental income BUT it is in a 100% fire zone-meaning high risk. Many of my neighbors have had their insurance cancelled & I expect at a minimum mine will be doubling. Last year I had to evacuate. There is a small  fire department close by but I don’t know if that really matters…With prices so high right now, should I jump ship & sell?  1031? Hang on? Or just sell & hold? Anyone else have experience with this problem?

Very helpful, thank you

Hi

My question is: it possible to 1031 exchange my home that has a downstairs rental & my home upstairs and defer the taxes? And, also can I claim the $250k exclusion since I live there as well? Would like to sell my home, but Im in CA and I will get beat down by taxes & am looking for ways to defer. Thanks kindly! Gayle

Hi 

My question is it possible to 1031 exchange my home that has a downstairs rental and receive the tax benefits? And, also can I claim the $250k exclusion since I live there as well?  Would like to sell my home, but Im in CA and I will get beat down by taxes & am looking for was to defer.  Thanks kindly!  Gayle

Tough market in Silicon Valley but rental prices are slowly going down, so I expect housing prices to take a downturn slowly as well. Lots of techies working at home and moving. Things are a changing I believe, but you still can't touch a SFR in the areas you are thinking for under $1 million plus. Good Luck!

Rents dropping San Jose, CA as well. Ouch!

I have a home that is rented by three tenants.  Two of those tenants have dogs.  One of the dogs seems to get out and I have now received a complaint from a neighbor next to the property.  I requested that all tenants now get renters insurance although they have lived there for two years. They balked and said it is too expensive.  I admit, I never thought about the liability too much (newbie) but was wondering if I can require this after the fact?  They are all on month to month and one tenant has a pit bull, the other is a great dane mix.  I'm learning, so don't be too harsh on me :)  Thanks all!

I’m having a really hard time with my daughter. I let her move in to my California beach rental property four years ago while She was going to college & she rented other rooms to tenants. Also rent was about $800 less than market. After she graduated, a year and a half ago,  Then things started really going down hill..trash, oil in driveway, old cars, etc. then boyfriend moved in so now 4 tenants, more old cars, cheap rent, old camper, chickens & dogs. I let it go too long. Know it’s now my fault...Anyone have experience with this? Advice, thoughts? Appreciated. Thanks!

Hello. I am asking for some suggestions and if anyone has had experience with trying to get their kids out of their rental property? My daughter was going to college and we agreed on she could stay there for two years until she graduated. Now her boyfriend and two other roommates have moved in. I am getting sub rent and I'm wondering how to go about getting them out in the most diplomatic, but effective way. I put her in charge of acquiring Tenants and taking care of the property for me and give her a discount on her rent for this. But, it is not working out that way. She has split her "discount" between the tenants and, just recently she had her boyfriend move in with numerous vehicles, a great dane, etc. I am also concerned about the economy and if I have them leave I will have a difficult time renting it out again. The property is a 3/2 SFR a couple blocks from the beach in Monterey, ca. I'm losing a lot of sleep about this I need to get them out. Like I said, they have extra cars, don't keep the place up very well, and basically are taking advantage of me. Further, the month to month agreements to all tenants were issued by her, not me. I have certainly gotten myself into a bind but will NEVER do this again! Thank you kindly!