All Forum Posts by: Kyle Boughton

Thanks for the link Mitch. An interesting read for sure. 

Hey Jay,

It does pay off to have those relationship in times like these. We just closed on a house in NE Portland for personal not business. From the relationships I have in the area it seems everything is still going for over asking and having multiple offers. They did mention a small slow down on 800k+ properties. Not sure what your seeing in the Portland area but being in the median price point in that market as a lender I would feel secure moving forward with funding.

If you don't mind me asking are your developing in Portland or bordering counties? Everywhere up here seems hot.

We were on our way to break ground for 20+ units and BOOM all my large lenders shut down new construction financing. I understand this as being the most risky at this time, especially with the possibility of labor and material shortages; but these are not an issue in my current market. 

Anyone else dealing with these issues? Any lenders still working with their clients? 

A have a few private lenders still tagging along on a few projects but not enough capital in the pool for millions in construction costs. These are secure projects with great returns and we feel strongly by the time these would be completed that the pandemic will have past.

Looking forward to hearing from others!

The landlord is usually the one that gets hit the hardest and if you lose a few hundred dollars over something simple it's way easier to go that route. The moral of the story is even if you had all your paperwork in a row and you did everything to the legal standard if they get an attorney and sue you and you have to hire an attorney to defend yourself you will end up paying a large amount and legal costs even if you win. It can be a tough game! 

Ultimately if you had all your ducks in a row you could potentially fight it. But an attorney will find a loophole somewhere in the process if you were to get sued. This would end up costing you a lot more money in the long run. 

It can be tough starting out and everything is a learning curve! But anyways hope it all works out.

Good luck!

That's correct. Only if you know mold is present it is required. I would always include one anyways that states that your not aware of any known mold issues. My addendum also includes information to the tenant on mold. But when he states "As far as he can tell" that there isn't any mold it's not worth the risk over $300. Did he have a certified company come inspect the home for mold? California is a very tenant friendly state and with PERSONAL experience in our local court regarding issues similar to this. You will lose. I can tell you that my time is not worth $300 to fight this issue on a legal side and I'm sure yours isn't either. Mold is very common in our area and 90% of the time there are small traces somewhere in the home due to the damp climate in our area. 

Nathan provided some great information and I do not disagree but I'm telling you this is not worth your time to try and fight. The effort you could potentially put into this could easily be used to fill your room by next week. Simple as that. Now if there was a large dollar figure attached to this I would take a different approach. 

Brandon,

Did you have the tenant sign a mold addendum in your lease packet? It is a California state law requirement. 

If not it's definitely not worth the legality risk and I would give her the prorated rent and move on. If she were to backlash in a legal dynamic and you didn't have the proper paperwork you will lose in court period and you will end up spending way more money to fight it. 

Hope that helps!

Awesome! Thanks for the info. 

Have been sourcing wholesale materials from the bay area for awhile now. Have been using Sincere Home Decor for cabinets. Quality has went way down and prices have gone up. Have looked into online retailers but with shipping the pricing doesn't pan out. Seeking a wholesale cabinet supplier in the San Francisco/East Bay area or further north. RTA or not. Looking for cheap but good construction. Preferably not fiber board design. 

Anyone have any good references or experience with businesses in the area?

Thanks!

Kyle

Unfortunately I won't be able to make it tonight. Got caught out of town until tomorrow. Looking forward to seeing you guys at the next one!