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All Forum Posts by: Marco Macon

Marco Macon has started 2 posts and replied 6 times.

Quote from @Erik Estrada:
Quote from @Marco Macon:

Hello there,  I recently purchased a house, not sure what to do with the old one.  I'm installing central air, new roof, paint inside and out,  kitchen upgrade and bathroom.  I was getting ready to rent the house, but recently I have some doubts about renting, it seems that is a nightmare,  due to California pro-tenant laws.

1. Called 10 real estate lawyer in my area 9 were pro-tenants.

2. I had a conversation with the city inspector that did the inspection on my roof. He told me that ; a landlord he visited, had tenants growing drugs in the backyard, they took the landlord to court a won a judgment for $60,000.

3. The contractor I hired to do the bathroom, also told me that; him and his brother bought a house, the tenant paid the fist 6 months,  then she stopped paying.  The had to take them to court, and the court rule that they had to pay her to move.

I'm too old to deal with this,  but I want to get some opinion for individuals that have done this for years. Any input be appreciated. 

thanks!!


 There are many variables here. What would you do with the capital if you sold it?

Hi Erik I'll pay the mortgage on the new house and invest the rest of the money on CD or stocks.
Quote from @Joe Homs:

@Marco Macon I base my decisions on cash flow.  Did you live in the old home?  If so sell it.  If it's a rental and you're completing all those upgrades, does it still cash flow? If you don't like LA then do a 1031 exchange and go somewhere else.  If your just tired, then just sell.

Good Investing...

Thanks for your reply Joe, all the work is being done at the "old house " , the property is paid for,  no morgage. I do have a mortgage on the new house. 

Hello there,  I recently purchased a house, not sure what to do with the old one.  I'm installing central air, new roof, paint inside and out,  kitchen upgrade and bathroom.  I was getting ready to rent the house, but recently I have some doubts about renting, it seems that is a nightmare,  due to California pro-tenant laws.

1. Called 10 real estate lawyer in my area 9 were pro-tenants.

2. I had a conversation with the city inspector that did the inspection on my roof. He told me that ; a landlord he visited, had tenants growing drugs in the backyard, they took the landlord to court a won a judgment for $60,000.

3. The contractor I hired to do the bathroom, also told me that; him and his brother bought a house, the tenant paid the fist 6 months,  then she stopped paying.  The had to take them to court, and the court rule that they had to pay her to move.

I'm too old to deal with this,  but I want to get some opinion for individuals that have done this for years. Any input be appreciated. 

thanks!!

Hi Philip, I contacted my homeowners insurance; I told them my intentions to rent, my yearly payment is going to increase, not sure how much. I'm working on the LLC with a lawyer. I'm primarily concerned in the house itself, I have a large backyard my wife have plants that could cause injury if someone happens to fall on them, should I have to remove them?

Quote from @Philip Wayne Ostriem:

Talk to your insurance provider. I think most places can offer some kind of coverage for tenants in a situation like that. Might also be worth it to collect rent in an LLC so that they're doing business with the LLC instead of directly with you. Honestly though in 9 years of renting i've never once had an accident that needed covered.

***Knocks on wood surface nearest to him***

Best of luck!


Hi there. I'm "new" to the forum. I have read a lot good information and guidance from experienced members. I have few questions hoping to learn from the community on my new journey. I have a house that I'm getting ready to rent, my biggest concern is the lawsuit due to "accidents". could you please write any suggestion on what to do to the house to prevent injuries? For example: uneven concrete floor . Any suggestions would be appreciated. Thanks!