All Forum Posts by: Jacqueline Gardiner

Hi Max, If this is truly a flip project (something you have owned for a relatively short time), it won't be eligible for a 1031 exchange. The property has to be something that you have held for investment purposes (I think generally this would be at least a year during which time it was a rental - either before or after you made the improvements). I'm not an expert on the matter, but if you do a search, you'll find plenty of posts on the matter. 

That sounds like a good business opportunity. I wish I would have found such a site :)

Hi Brendan, I recently completed a 1031 exchange. I spoke to a lot of people for advice. Three people (my CPA, my attorney, and another investor) recommended going with a large company with deep pockets and good insurance. For that reason, I ended up using Asset Preservation, Inc. which is affiliated with one of the title companies.

@Account Closed might outline for us all of the steps he does in a title search. Can you provide a list of all of the places that one needs to search through the county records in case someone wants to try this on his own?

@Ryan Z.  I have not used Lienlist, but it doesn't look to me like it would be sufficient.

Hi @Bernard McRae, You'll find that most jurisdictions won't allow the creation of new mobile home parks. You'll probably be better off searching for an existing park near where you want to live that is in need of TLC and then acquiring it and fixing it up. You might consider getting some good experience by helping to manage an existing park prior to diving in too deep. Another great resource for learning about mobile home parks is this website: 

http://www.mobilehomeuniversity.com/

I spent most of a weekend watching the videos and found it to be very useful.

Thank you all for your valuable input. It turns out that the Prop Mgr did mail the notice on the same day she posted it, so I'm good there. I spoke to the tenant a little while ago and offered the $500 incentive. I also told her that I would be starting the eviction process on Monday.  She didn't really seem interested in the incentive. She's actively searching for somewhere to go and, I think, hoping like crazy that something works out. I'll let you know how it works out (fingers crossed)!

I'm getting ready to sell a rental house in Livermore, California and had the property manager issue a 60 day notice on May 31. The tenants have said that they can't find anywhere to move and aren't planning on being out. I think the real issue is that they were hoping to find a comparable property in the same town for the same rent amount and the house has been rented below the market rate for several years. 

I was getting ready to start the eviction process concurrently with offering a "cash for keys" deal. But, in going back and reviewing the details of the lease and what was done, I don't think the property manager issued the 60-day notice correctly. (I believe she called first and then posted it on the door, but did not follow through with a written notice in the mail as required by California.)

So, now I'm thinking that it will be a waste of time & money to hire an attorney to start the eviction process. Agreed? 

I can still go ahead and offer them $500 to get out by the end of the week as a motivator, but it would be nice to have a back-up plan. 

The property manager suggested a new lease for 30 days with a requirement that they are out on the last day. (The old lease converted to a month-to-month agreement.) But, CA law requires a 60-day notice if all of the tenants have been there for more than a year, which they have. So, I think I would have to give a new 60-day lease concurrent with a 60-day notice to vacate at the end of it. Does anyone know if this is correct? 

Any other suggestions? 

Any suggestions for an attorney in Alameda County (east bay area) that would be good to advise me on this?

BTW - I have several contractors scheduled to start renovation work in the next two weeks - which wasn't easy to get arranged. I am trying to take advantage of the hot market by selling this year, so I really don't want to just set back and wait this out.

Thanks, All! 

Here's another good website:

http://www.mobilehomeuniversity.com/

Both @Kevin Bull and @Adam Bontrager talk about doing due diligence on the fund manager. But, how do you find good information? The only information I can find is what they say about themselves on their websites. Where does one go to find 3rd party reviews about sponsors and syndicators?