All Forum Posts by: James Peters

I am reaching out to the BP community as a potential tenant.  My father is a65 YO and I am moving him to be closer to my in-laws in San Diego.  I am looking for 55+ communities or other apartments for rent for him.  

I thought someone here might have a lead on a good rental that is a 1bedroom 1 bath property, perhaps in East San Diego county? Lakeside, El Cajon, Santee, La Mesa, Bonita, Spring Valley, Alpine?

Had several scam Craigslist listings and many places have waitlists, so I wanted to reach out here as well.  

A downstairs unit and an owner open to having 2 cats would be ideal.  I will be cosigning and have an 825 FICO (My dad's is in the high 600s) and we have rental income from another property.

Thanks for the help!

@Matthew Paul  I was referring to the article that @Brandon Hall wrote about BARRRR.  https://www.biggerpockets.com/renewsblog/forget-brrrr-try-barrrr/

Brandon had mentioned that you don't want a contractor to just give you an invoice that simply says something such as "Bathroom, $10,000"  rather that some of the work should be broken out as different work can be depreciated at different rates. 

Many of the contractors in SoCal tend to do high end restoration and are not focused on more economical remodels.  They are focusing on people who will spend 100k on a kitchen and 50k on a bathroom.

I am finally interviewing several contractors and GCs about starting work on a 3bd 2 ba in Long Beach, CA.  

Some of them are referrals or have good reviews online.

I have some questions that I plan to ask, including if they are insured, licensed, and to see if they do work on investment properties, rather than regular homes.  I also plan to ask if they will break out their remodeling costs so that my CPA can accurately depreciate the work done on the property.

I was wondering if any of the BP community has a checklist that they use when interviewing and hiring a contractor?

I have read J Scott's book on estimating Rehab costs, but being in California, the numbers will probably be way above what he states.

Personally I have done some light electrical, plumbing, and remodeled a bathroom, so I have some construction knowledge.  I need to get this project done so that it can start producing some income and appreciate the help!

Thanks for a great podcast @Amanda Han and @Brandon Hall!  I took to heart what you said about getting an itemized list of upgrades/repairs to a property that I am getting ready for being a rental.  I am talking to several contractors I was referred to and they will not break things down by item in their estimates.  Any suggestions on how to get them motivated to do that?

Thanks @Mike Flora!  I am in the midst of creating a Scope of Work and have some contractors lined up.  Getting the federal and state taxes straightened out is proving to be a process.  Not sure what will be involved with clearing the lien once I get the taxes filed and paid?  Thanks for the advice.

@Ned Carey That is the conclusion that I came up with.

@Mike Flora I just read over my original post and realized that I needed to clarify. The property tax is part of an impound account and is all up to date. The tax lien is due to federal and state taxes not being paid since 2009. I am in the middle of cleaning up that mess and filing the delinquent taxes. I am working to keep the property due to the low tax basis that I inherited. There is a good amount of equity and the property is in a great location for a SFR rental.

I am guessing the auction is a worry if it is due to property taxes not being paid?  If there is a 5 year deadline, I have till 2019.  

Thanks so much Jo-Ann!  Sent you a message and appreciate the help.

Hi there BP community! I have a friend who has a SFR rental in Oceanside, CA and is looking to interview a property manager to manage it. She had a tenant in there for 7 years and has a new tenant she screened and is moving in January 1.

My friend lives in New York and needs someone to manage the property in the new year who lives in the area.

She is in San Diego this weekend and I will be visiting her, so I will share your suggestions when I see her.

Thanks in advance for the help!

I am in the midst of cleaning up a mess from a property I inherited.  There is a tax lien on the property that I am working on cleaning up.  Since there is a lien on the property it is still showing up in my Grandmother's name.  I need to remodel the property before I move some tenants in.  I do have all the documentation that I am handling my Grandmother's estate and trust.  

The question is, can I get work done on the property (based in Long Beach, California) with the lien on it?

Thanks for any help out there!

Thanks @Josh Carr.  Since no taxes were filed for my grandmother from 2009 till 2014 I was told to see what the fed and states were using to determine their tax bill.  The house was a total mess and I have found documents in random places throughout the house.  I am not sure if the lien will compromise since there is equity in the house.