All Forum Posts by: JC Conchas

My wife and I have 4 rentals, so just mom and pop landlords. You don't believe the SBA loans will help us.

thanks
JC

Originally posted by @Sam Cherry:

Internal Revenue Code (IRC) 101

To understand what Department of the FEDERAL GOVERNMENT provides relieve you must understand the IRC.

SCHEDULE C (Employers) are the responsibility of the Dept of Commerce and therefore the SBA. This is why the Treasury Secretary and President keep talking about Employers keeping EMPLOYEES on the payroll.

SCHEDULE F (Farmers) are the responsibility of the Dept of Agriculture. Farm aid is doled out by that agency.

SCHEDULE E (Landlords) are the responsibility of the Department of Housing and Urban Development.

This is why the SBA Loan application doesn't make sense.

As landlords we deal with Gross Rents not Cost of Goods Sold and Gross Revenues.

You need to call your representative and tell them to get the Department of Housing and Urban Development to make emergency changes to the Section 8 program.

That is how it is done for Landlords.

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Bought 4-plex, one tenant installed security cameras on the outside of the building, because their car had been previously stolen. I confirmed with Realtor, tenant never asked landlord for permission to alter the building. They were installed one weekend and the previous landlord didn't care. so, he never asked the tenant to remove the cameras. I'm having the building painted. I want the cameras removed so we can repair and patch any and all holes. The property is not subject to rent control. Do I need to serve tenant 3 day notice to remove them or can I have painters remove them. Since they altered the building without permission. thanks JC

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Learn from this and do not repeat the same mistakes.

Clean it up, find another tenant.

Good luck

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Hi Zach, i sent you a rewu thru BP.

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@dmitriy that's perfect. I will only do white collar work.

Thanks

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Hi Dmitriy,

I'm in the process of purchasing a rental property. I know all income and expenses go into and out of the Solo 401K. I want to confirm, I can collect rent, pay bills and call contractors/repair men to fix stuff. I just can't do it myself. Is that correct? So in essence I will be the property manager.

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Originally posted by @Sam M.:

Regardless of what you do, I would consult with an attorney to make sure your traces are fully covered. Even sending the 60 day notice requires very diligent steps and procedures that need to be followed. Would be terrible if after the 60 days you find out that the tenant wasn't properly served and you'd have to start back from square one all over again.

@JC Conchas, by default, all SFR in the city of LA are NON rent controlled: http://hcidla.lacity.org/RSO-Overview

@Account Closed, can I get your attorney referral as well? I have one who I've used in the past for eviction, but would love to have a backup.

@sam manoo didn't know SFR were not included in rent control. I would still ask that property be delivered vacant

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Why not specify you want property vacant at close of escrow. Also double check property is not rent controlled.

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Do you offer commercial loans for trailer parks in California?

Can you send me some info.

[email protected]

Thanks

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Hi can you send me more info, [email protected]

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All Forum Posts by: JC Conchas

JC Conchas has started 6 posts and replied 49 times.

Post: Attn: SBA Disaster Loans for Landlords

Post: tenant security cameras without permission

Post: Is this a fact that tenant has abandoned the property?

Post: 27% ROI Turnkey, $505/m net cash flow, only $20K down!

Post: Self-Directed Solo 401k for Real Estate Investors – Q&A

Post: Self-Directed Solo 401k for Real Estate Investors – Q&A

Post: Evicting a tenant in LA

Post: Evicting a tenant in LA

Post: Competitive Financing fix and flip, rentals, new construction

Post: 10 UNIT RENTAL INCOME!! Multi Tenant House and Trailer Park 275k