All Forum Posts by: Johnson H.

Hi @Rashad Mammadov,

Two months ago @Account Closed and I viewed the project at the city planner's office. What was your plan for the massive retaining wall? I would love to hear your thoughts on it!

Regards,

Johnson

Thank you to everyone that attended last month's meetup as we had a record turnout of 82 investors! I really appreciate everyone coming out as you all make the meetup a success :)

Hi All,

It's another month and time for another real estate meetup! These meetups have had up to 82 BiggerPockets and Meetup.com members chatting about investing in the San Jose area and also out of state. We welcome anyone who would like to attend!

When: Tuesday, November 15, 2016, 7:00pm (usually I'm around at 6!)

Where: Now we are at Parktown Pizza Company! Find us in the back room.

1350 S Park Victoria Dr
Milpitas, CA 95035

http://www.yelp.com/biz/parktown-pizza-company-milpitas?sort_by=date_desc

Please support the small business by spending some money and tipping for the great service we receive every month! (I don't pay for the space nor do I receive anything from the restaurant)

Introductions will at 7:15pm and its free networking afterwards until 10pm.

Looking forward to meeting new investors and seeing familiar faces.

Regards,

Johnson

P.S. Please RSVP if you can at the following link and join the meetup to be automatically notified of the next one!

http://www.meetup.com/SF-Bay-Area-Real-Estate-Investing-Club/

Keywords:

South Bay , South Bay Meetup , Bay Area , Meetup , Meet up , Meet-up , San Francisco , Oakland , Berkeley , Alameda County , Contra Costa County , Solano County , Richmond , Hercules , Concord , Albany , Pittsburgh , Marin San Rafael , South Bay , Peninsula , Walnut Creek , Pittsburgh , Antioch , Pleasanton , Fremont , Castro Valley, San Jose, Milpitas, Sunnyvale, Fremont, Palo Alto, Santa Clara, Mountain View, Gilroy, Santa Cruz

 I was reading a book on Warren Buffett on the plane this weekend and during a fun FIVE hour lunch with @Account Closed yesterday it reminded me of a quote I read from Buffett:

"It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price."

I realized that this can be easily applied to prime Bay Area real estate with my take on the quote:

"It's far better to buy a prime property at a fair price than a nonprime property at a wonderful price."

I don't think I've ever heard of someone owning a SF property for 30 years say they wish they never bought it. :)

@Scott Kim - Looking forward to meeting you. I am glad I didn't have the meetup tonight or Thursday night because nobody will be there as the Giants game is on. I hope to see another thriller tonight, go Giants!

Hi @Erica Gan,

Although you don't have to sign up, I recommend that you do. I get an accurate headcount and you get to be automatically notified of the next meet up via email when you sign up.

Thanks,

Johnson

Hi Martin,

Is the vacant unit similar to the unit you are trying to OMI? If it's completely different there should not be a problem. If its similar, it could be considered an issue. 

Owner occupied triplexes in Oakland are considered exempt from rent control when you lived there for a year. However, there are some ordinances getting voted on this year that may change this.

I would speak to a reputable lawyer about your situation, Bornstein does a lot of work in SF and Oakland. Don't believe everything you read on the internet :)

Good luck,

Johnson

Units That Are Exempt From the Rent Adjustment Law

• Section 8 units and other units that have rents that are controlled, regulated, or subsidized by a governmental unit, agency, or authority.
• Accommodations in motels, hotels, inns, tourist houses, rooming houses, and boarding houses, provided that such accommodations are not occupied by the same tenant for thirty (30) or more consecutive days.
• Housing accommodations in any hospital, convent, monastery, extended care facility, convalescent home, nonprofit home for the aged, or dormitory owned and operated by an educational institution.
• Dwelling units in a nonprofit cooperative, owned, occupied, and controlled by a majority of the residents.
• Dwelling units which were newly constructed and received a certificate of occupancy on or after January 1, 1983.
• Buildings that were substantially rehabilitated after January 1, 1983. (See O.M.C. 8.22.030 B(2))
• Dwelling units exempt pursuant to the provisions of the “Costa-Hawkins Act” (see Ca.Civil Code § 1954.52; these exemptions generally apply to single family dwellings and condominiums).
• 2 or 3 units on a single assessor's parcel when one of the units is occupied as the owner's principal residence for at least one year.

NOTE: Exemptions from Measure EE (the "Just Cause for Evictions" law) are not the same as for the Rent Adjustment Law

http://www2.oaklandnet.com/Government/o/hcd/s/LandlordResources/DOWD008759

Hi @Katherine Kwan, welcome to BP! I am also local that has invested in Phoenix since 2010. Are you looking for multifamily locally or also out of state?