All Forum Posts by: Jin Zhang

@Jin Zhang yes of course you can, just not under 30 days at a time

Thanks for confirming that! What about near by cities? Does the same rule apply to Round Rock, Leander, Georgetown, Cedar Park, and Pflugerville? Thanks! 

im in the exact same situation but here in LA county. Currently in a never ending escrow for a duplex. My duplex is little different zoned 2 condos one 1 lot so requires 2 seperate transactions. We are in contract but going no where. Initial terms were to get one unit vacant to move but but seller soon finds out from their attorney that can't happen at this time. The sellers are trying to arrange a meeting with both tenants to set up a cash for key offer. If they move out they will each get $2500 (1 months rent) to move out. Im adding an extra $2500 to the contract if they do move out and sellers are too. So far only one tenant has agreed to meet while other tenant hasnt bother responding yet. Its a tough situation because like your case property is great value and my offer is also 100k less list price. I know SFH/condos/townhouses fall under different rent control rules than multi-family. I believe the current eviction rules really only apply to multi-family 3 units are above. Only thing stopping my case from doing an eviction process is no courts are open right now. My game plan if tenants both choose not to move out is to try to negotiate an extra 20k off the contract price since original terms was 1 unit vacant. I can realistically set aside that money for attorney fees whenever this pandemic and eviction crisis gets back to normal. My case is also month to month tenants. One key thing to ask is if all the tenants are up to date on rent. That is very important. You don't want to be stuck with a deadbeat free loading tenant which could cause alot of stress. Both my tenants are super long term over 10 years tenants who are paying below market price so I could see them not accepting the cash for keys.

Did you ask the seller if you can even go in to see the property to get inspection/appprasil done? In my case both tenants said no to letting anyone in so it becomes specially troublesome for the financing part to go smoothly if i can't even get an appraiser into your property. 

Hi David, 

I am also interested in duplex and wanted to learn what happened. Did you get at least one tenant out and moved in yourself? How did you do it eventually? Thanks for sharing! 

Best,

Jin

This duplex popped up in the perfect neighborhood of Bay Area, the first of its kind in over 10 years to be listed. There were bad photos and incorrect listing information, so I was able to see it first and make an offer before anyone else! Here's the catch...

My offer is 100k below asking price with contingency that one of the units be vacant so I can move in - she said NO due to contingency, not price. Apparently the seller is acting weird and just not wanting to deal with asking this guy to leave / evicting him. He's got a lot of guns, taxidermy, dirt bikes, etc. and scares her.

My question is - given I won't see an opportunity like this again in this area, should I proceed with buying the duplex at a fantastic price? His lease is month-to-month so I can give him 30-day notice, potentially offer cash-for-keys, or wait until courts are open to evict him (uncertain of when this will be). However it's unclear on how long this will take or what it will cost. Apparently it plays in my favor that I want to move in to the property myself rather than evict him for a new tenant?

Thank you in advance for taking the time and for any ideas!

Cheers,

Kyle

Note: Yes, I am working with a good agent + lawyer to find out my options; I simply wanted to bounce the ideas around here to see if there's any new perspectives.

I have a property rented close by and have an ADU on its way. I tested the market by putting an ad to see if there would be any interest and I got a ton of inquires.

@Jin Zhang Student housing in Covid is struggling. If you are betting on when it comes back - sure. But keep in mind, its also a tougher rental to manage remotely. You will need a good property manager.