All Forum Posts by: Gayle Eisner

I own a house near the beach.  It's too much trouble to keep "flipping" it for an AirBNB.  I'd rather sit back and collect the money monthly and rent a nice condo on the beach occasionally...

Hmmm, you can just tell her maybe that the neighbor tenant has complained, and if she denies it ,you might give her a 30 day notice? It depends on how much you want to keep her there...you don't have to tell her why if you don't want to let her go...

Or you could maybe just tell her there was a complaint, give her a warning and if the smell continues then you will give her a 30 day notice. It's her call...

I hope that helps, I know tenants can be difficult.  POT STINKS!

Well, in California, they changed the name and now call it an ADU accessory dwelling unit. It is difficult here to get permits, or should i say, it is takes a very long time to get permits and the property must conform to a lot of regulations such as lot size, near ocean, residential neighborhood etc. I have a house that has an upper and lower unit. I do, however, have parking for the house. I have had a lot of success as long as I rent it relatively below market. I have been turned in twice by whining tenants but overall it has been very financially productive. Another consideration is whether or not you want to pay all utilities or not. It is a hassle getting tenants to pay each month for utilities, or maybe you can charge them a flat fee.? good luck!

Instead of playing detective, when she leaves just charge her for smoke smell cleaning from her deposit when she leaves.  Let her prove she didn't smoke weed or cigs.  

I currently own 4 rental properties (one is a duplex) and was long-term thinking about retirement options.  Anyone done any research on using rental income as retirement income?  I am concerned about rental management companies but I sure the heck don't want to deal with renters in my retirement...thoughts, suggestions? Any books on the subject?   thank you kindly!

Good Afternoon:

I own a 3 br, 2 bath 1931 house (duplex) (1100 s/f) and (600 s/f)in a very desirable area of the Bay Area, SF, California. I currently live on one side of the duplex for 5 months a year and rent out this unit for 6-7 months a year.  The 6-7 months I travel for work..The other side is rented most all the time..The house rents for a very good price even though it is old ..it is a very competitive rental market for renters.  I have owned the property for 30 years but have had to retrofit for earthquakes, it is in a high fire danger in the foothills and nickels and dimes me all the time because it is old. Fire insurance is also very expensive... I have put money into things like a necessary new deck, dry rot, new windows (they were only single pane), new flooring, retaining walls etc...just to keep it well maintained.  I also have about a 1/3 acre that is adjoining the property and it costs me $1000-2000 a year to upkeep the trees and shrubbery (fire).  I'm getting older and am considering selling the property, it's just so much work and a lot of maintenance although it is always easy to rent and obtains good income.  Ideally, my thoughts were to use it as monthly retirement income and move elsewhere...

I hear recession is on it's way as well.   Another consideration is that my property taxes are very low and so is my payment.. but my capital gains will be outrageous as I have already used my one time exclusion of $250k. The roof is also 20 years old...So my question is-- should I keep the house and continue to rent till it falls down (just kidding), 1031 exchange it, sell it or ?   So many of you folks have so much experience...I also own another rental property as well if that would be important.  Thank you kindly!

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Yes!  Yes!

1. 2014, My first home was in in Merced, CA at the end of the recession.  Owners agreed to finance but the home was very expensive at $220k & so was the interest rate.  I put in an offer that was accepted, had a home inspector review and backed out at the last minute. Cold Feet!!!  The RE agent kept my deposit of $2500! But, ultimately I was glad I didn't buy it but then I was out $2500 on my first try.

2. In 2014, My second house was a bank-owned foreclosure, again in Merced, CA for $100k. I put a bid on the home and I was shocked when I won! It was a great deal but it is about 2.5 hrs from my house, BUT again I backed out.  The RE agent told me "you can just flip this one and make money!" But, I got cold feet and bailed  (could have doubled plus my money if I kept) Darn!

3. Try Again!! in 2014, my third try was a major old (1931) fixer in the hills of Los Gatos, CA (SF Bay Area) for $420k with earthquake damage...I decided to purchase, live in the home and work on it. It had an attached "in-law" unit that I rented out to help pay the mortgage.   Being a woman with no construction background, most of the work I had to hire out and it was major, foundation, double pane windows, heating system, etc. I did a home equity loan to pay for it... But,  after sinking slowly over 5 years appx $150k into the house,  it appraised in 2017 at $890k! Finally! Jackpot!

4.  In 2017, I refinanced the LG house and purchased a rental property house near the coast for $430k. Appraised at $604k in 2019!  

5.  In 2019, I refinanced and converted a barn into a small house on the back 1/2 acre that cost me $80k. HOWEVER,  I made a huge mistake as I didn't have it permitted and that story is pending....wish me luck!  I'll let you know how it turns out...

Okay, okay, I may have exaggerated a bit...but I am concerned and don't want to lose it all due to a big storm!   

Correction: "According to predictions from the state of California sea levels up and down the coast will rise two feet by 2060 and six feet by 2100. That level of change could erode Monterey beaches at rates between one and six feet a year over the next 50 years."

Hi all:

I own a coastal property in Moss Landing, CA that is currently rented and is an investment for me.  It is paid for and is one block from the beach at an elevation of only 17 feet above sea level.  It has not had a major flood for about 25 years but is vulnerable...  Im thinking about selling due to climate change and water rise.  It is also near a river that is in front of the dunes that are in front of the ocean.  It has appreciated quite a bit and I have owned it 3 years.  My question/concern is should I sell it in the near future, considering the predictions are sea level rise of 3 feet in the next 5 years? There is also sea water intrusion in this area of Monterey, CA as well.  Getting worried...Flood insurance ?  Anyone else been thinking about his as well? Thoughts? suggestions?  Thank you!