All Forum Posts by: David To

It'll be like paying for insurance (no difference then home insurance, car insurance, health insurance). We need landlord insurance.

James, I agree. Lets get a landlord union together and file a lawsuit to all the governors of all the states. I'm willing to put in a monthly due as well. We should try and get as many landlords together and make this happen so we don't get screwed again next time.

I thought California's eviction moratorium has been extended to July 28, 2020? 

This totally sucks for me since I have a tenant that isn't complying with payments.

So far, they owe me a month's worth of payment and since the tenant just got divorced and has been unemployed for several months, will be missing this month's payment as well. What I'm pissed is that in California, if you apply for unemployment, you are actually getting $4,000 per month, more than enough to pay the rent but this stubborn tenant refuses to pay. 

That's what unemployment is for, to pay the bills. Also, refuses to show bank statements, etc. So some people are totally abusing the system since they have the money to pay but are not complying. I'm having my property manager file an eviction right away at the end of July, unless the stupid governor extends the moratorium. 

Hi Daniel, what's considered a B neighborhood in Palmdale / Lancaster? Any homes West of the 14th freeway???

HI Everyone, I was able to locate a realtor to work with already. 

David To

HI, I'm looking to purchase a duplex or single family residence or 2 bedroom / 2 bath condo in the price range of $125K - $175K in North County San Diego (Escondido, Oceanside, San Marcos, Vista). And also Class B / C+ neighbordhood. I would like to rent out the property for around $1K - $1.2K.

Can a realtor or realtors send me some MLS listing of properties that are available?

If so, please contact me.

David To

HI Kristofer, I just sent you a private note. I'd like to have a local MLS listing of duplex properties available in the AV area as well.

Wow, a 3 bedroom townhome for less than 20K. Talk about affordability.

How about

I don't quite agree with the negative cash flow scenario. 

1) what happens if you can only put down 30% down payment on a house and you will see negative cash flow of several hundred dollars because expenses (mortgage, property tax, insurance, vacancy, property management fees, repairs) are several hundred dollars more than the actual rent? 

Does this make it a bad deal? Not really. Because the tenant is paying your mortgage for you. Which is a lot better than you having that money in a checking / savings account which yields practically nothing.

SO even if you have negative cash flow, your mortgage is being paid and you are gaining equity on the house. WIthin 3-5 years, you could essentially be moving into positive cash flow, all the while gaining more equity in the process (and this is not your money and you are building wealth much greater than having that same original 30% down payment sitting in a bank all this time).

Also, if the house appreciates, more money to you. 

So in summary, negative cash flow isn't bad if the house is in a great location, you screen the tenant properly so you suffer minimum damage to the property, rents are paid on time, and the house has a good chance of appreciating. 

Thoughts and opinions???