All Forum Posts by: Kai Ponte

@Christopher Smith I just read about this proposition and came here to gauge the BP opinions. I’m not surprised at the response. I hope people get out and vote. (...and not just because I work for a County Registrar.)

Saw this today. An article discussing the future of Real Estate brokers. Not directly involved in REI but informative as we all use a broker for many transactions.

https://www.fastcompany.com/90540856/will-silicon-valley-put-real-estate-brokers-out-of-business

@Aaron Hollingshead I’m shocked that you can’t even ask. I kinda sorta understand not evicting based on the current situation and high unemployment, but not even being able to ask for when payments will happen? Seems like the State legislators didn’t understand the repercussions on owners.

@Paul Shannon. X2. Unless this vehicle is perfect, dump it. I would personally keep the car payments and buy another property.

@John Clark. Here’s the bill.

https://leginfo.legislature.ca.gov/faces/billTextClient.xhtml?bill_id=201920200AB1436

It bars a landlord from even attempting to get the debt back for 15 months.

@John Farady That Huffington Post article seems to indicate it pertains to banks in the EU. Does this clause also exist here in the States? Canada?

As we all know, Zoom is very insecure and should never be used. I was finally able to be available today for a webinar and was extremely disappointed to find I would need to install Zoom to attend. Who can we contact about this?

@Josh Hanson FWIW, I’m taking a slightly different approach. I own a home with a ten-year 3.25% loan. I’m paying the loan down and will be done in 22 months. I started with our first house in 1995, purchased at $150,000, then sold that into our current house in 2001. We sold the old house at $220,000 and bought the current one for $305,000. Current comps put the house at $700-ish, and we owe about $80k. My youngest son just graduated high school and will be starting university in the fall, so we’re waiting to pay off the house before investing so we have the $3000 (or so) monthly payments not eating into our cash flow.

I know I could get a 30 or 40 year loan and use money now to cash into another property but my beautiful young bride wants to ensure the house is paid off.

@Scott Lennon good question. Two of my neighbors just completed flips. Both houses were bought as-is a couple of months ago and both have sold in the past week. This is outside of Los Angeles, and the units are each about 2500 sq ft.

@James Tedrow my 77-year-old mother is a lifelong liberal. She protested for civil rights in the ‘50s, protested against the Vietnam war in the early ’60s (even though my dad was in Hanoi in the AF), and campaigned for liberal candidates in California. Yet, she fully understands the need to allow people to keep their money, supports California Prop 13, and loves that she pays property taxes based on 1981 rates while friends back east pay through the nose.

Nah, the 1031 won’t go away.