All Forum Posts by: Joseph Cooper

Hi Amanda,

Lake County, CA is a unique place. Check it out but I believe the current required notice of non renewal for a lease 1yr or linger is 60 days. The lease should automatically switch to a month to month agreement after the expiration of the 1 yr. agreement. Month to month agreements only require 30 days notice. Again check to verify that this information is correct. Do you live locally? The job market is tight here in Lake County right now. Avoiding the occupants from squatting is best addressed with background checks, employment verifications, and references before signing the lease. Turning the management of the rental over to a property manager can relive a lot of these issues. I would be interested in knowing what town the property is in. The quality of available tenant varies drastically depending on the neighborhood. Ultimately, clear communication and expectations handled in a respectful manner can avert any issue. It sounds like they have been paying, maybe talking to them about your concerns can help them better meet your expectations. Then everyone can be grateful for a long-term arrangement. 

@Noelle Debruhl I was raised in Lake County, CA and am living there now. There are some great oppertunities. It can be tricky to invest particularly if you do not reside in the area. I am working on STR now and expecting to see it booked about 45% of the time at around $150 night. Unique offerings tend to do best. Many of the health care professionals travel to the area for 3 month contracts and can provide an oppertunity to do well with MTR. A property manager or the ability to regularly check on the property is important. There are always people looking for rentals however with the lack of industry and compensation relativly low in the area many of them have one foot on a bannana peel. Things can chang quickly and recovery can be slow.

Happy to talk more and answer any questions.

Joe

@Thor M.

I am born and raised in Lakeport and currently live there. My family has been in Lake County construction and real estate for almost 70 years. @Jay Hinrichs is always so knowledgeable and I agree with both @Orion Walker and @Brian Burke. With that said, the rental market is alive and well however it does take a bit more work to get the right property that will attract good tenants. Investing in Lake County is more than a numbers game but there are deals to be had. I am happy to discuss specifics of individual properties, provide referrals or even do a little leg work if it helps. 

 Gordon, I live in Lake County. There are defiantly air bnbs all around the lake with regular occupancy.  The area can be tricky. Happy to share what I know, refer quality professionals and even do some leg work if you continue to pursue an investment in the area.

 Sharon Salvador at Fidelity National Title in Lakeport is awesome. Super experienced and very helpful. Easy to work with and just a nice person. 

(707) 263-0127

see the link below for reviews.

https://reach150.com/fidelity-national-title-lake-county/review/11939/sharon-salvador#:~:text=Sharon%20Salvador%20has%20been%20in,forward%20to%20working%20with%20you.

Very clever Erik,

Just goes to show that how working with a real professional who knows the industry and wants to help makes all the difference in achieving purchasing goals.

Thank you for sharing.

Thank you, I just knew I had to have this place. It was a challenge from the start but I am pleased with the current condition. There is also a 1bd 1ba plantation style cabin on the property, where I would like to live some day.

@Kristal Matthews Did you invest in Lake County. I was raised there and recently moved back. My family owns a small brokerage in Lakeport. I do feel like there is opportunity however, diligent research in the beginning is important. I am happy to go check anything out and give you my initial opinion.

 The numbers say it all. The property is free and clear (no cost to me). It will rent for 1,000 -1,200 after renovations (12K-15K) The major benefit of sticking with the existing dwelling is that property taxes are low low low right now. I expect property tax to more than quadruple with a new home on the lot. The renovation investment allows this property to pay for future improvements. The more time it stays rentable the greater the improvements in the future.

Thanks for your response Gene.