All Forum Posts by: Kristina Heimstaedt

I've been scouring the internet trying to find what I can related to the upcoming proposed legislation. All I know is that they currently have enough signatures to get it on the ballot. An LA times article indicates that it is more pervasive and less restrictive than what is already currently available. However, I can't seem to find any actual legislation to refer to. I'm trying to make sure clients are well informed, but tough to do if I can't find the proposed legislation. Thank you in advance everyone!!

@Tom Smith hopefully whoever you are Ori with can help you with that. Also, ideally spending some time there and getting idea of what makes what valueable in the area helps as well. My security blanket is always "can I rent the property for my expenses." Including property taxes, HOA, mortgage (if you have one), etc. You ought to be able to put yourself on some sort of feed for that either with your agent or with an app like Zillow or what have you.

@Tom Smith If I were in your shoes, I might rent for 6 months and figure out what I wanted out of my living situation as well as where I'm likely to get the best value. I would see it as a way to protect yourself from not getting the greatest value.

@Cheryl R. What are the repercussions for not complying? I might also take a picture of the plants that are supposedly a problem and head to a local gardening store where you can by the plants in question to demonstrate that the plants are intentional.

I myself had an HOA manager that was working to make the community in her image. As a result, she irritated the entire neighborhood, created a hostile working environment for herself and quit. I don't know that you're in a fight or flight situation, but I would learn who is enabling this behavior and essentially go over the head of whoever is sending out these notices. Ultimately in an HOA complex, you're all working together to make it a comfortable living situation. I might talk to the HOA president. Ideally, that is an elected position that requires input from the residents.

Hope it works out!! Best of luck!!!

@David Casey not sure how things are where you are, but if properties aren't already zoned for something here or grandfathered in, I typically recommend that clients stay away from them. To me, it's always easier to make the city happy because you've created what they wanted. These cities here are pretty strict though. 

@Daniel A Blecha welcome to the forums. Regardless of what you're learning, everything takes time. Keep reading the forums and do quick google searches of some of the terms that you don't know. Then head back to the forums to reinforce some of the terminology. You'll get it. It just takes time.

@Samantha Lotti in all honesty, I think as long as you have a bullet point list of things to remember to hit, I'm sure you'll be fine. I compare this position to doing drills for sports. You know the relevance, you know they are a necessary evil, but when you do them enough, muscle memory kicks in and it no longer requires active thinking to get you through the process and you can focus on the content rather than the routine of it. AKA practice makes perfect!! You'll get it. I'm sure it fits the 10,000 hour concept. Also, the advice I give everyone is to go into something like you've done it a 1000 times. When you're relaxed, oftentimes it can make the other person relax and feel more comfortable as well. One of those psychological mirroring things.

I would add to @Patrick Hermans comment and ask about all the numbers related to the property including income, expenses, ages of the major systems within the property  (electrical, plumbing, HVAC, roof, etc). I'd add that I would ask the potential seller to come up with the number first and maybe how much down they would like if they are willing to do a seller carry back. You might also ask about the financing structure that they would like to see. Once you have all of that information, I would let them know that you would like to go back to see if you can make that work for the both of you. You might also try to gather why they would be open to selling just to make sure you're not getting yourself into some crazy mess. 

I agree with @Anthony Hurlburt it seems excessive. @Derek Bonanni I would ask the investor what the purpose is of getting a photo of the tenant at move in. Honestly, most people post so frequently on social media that even if their ID photo is old, you can get an updated photo through a quick search online. 

@Melissa Gittens once you find the right investment property, invest in the right tenants. That will make your entire world easier. I typically ask myself, "if I had 10 of this tenant, would I be ok with that or would I be pulling my hair out?" I like the 10x rule for analyzing time management more than anything.