All Forum Posts by: Michael Perreira

@Jeff Zimmerman

Hello Jeff, we just moved locations to Clovis area.

I took advice and sent an email (took out emotion) listing the payments, with a link for Ca 21 day deposit law, emails from him confirming payment, the lease, and the “check out” form signed by his property manager saying I left it in as good, if not better condition, as move in and that it’s ready to rent.

His reply was that “he can send me his attorneys info if I want to continue with legal threats and that he simply couldn’t get to me, if any monies is actually owed after he views property (had someone else in 21 days ago now) any deposit due to property manager on vacation and the Holidays.

The “property manager” called me a stated he’s just a handyman, not property manager, and that he never took vacation and that the owner hasn’t paid him for several months for the “walk through” before our move in, the “walk out”, and next guests “walk in.”

@Scott V.

First, amazing job on your earnings and financials with no debt.

I was in pretty much the exact same position roughly two years ago and was in the market for new car (my Hyundai engine blew on 210 fwy at 185k miles).

I travel a lot for work and wanted a Tesla model S w autonomous driving ($85,000) but am all about saving and investing (max 401k, investment properties, index funds) so buying a depreciating asset scared me.

But I found a solution: Car sharing companies. I “car hacked” a new Tesla model S on weekends and drove it on weekdays thereby covering my loan w weekend rentals and cutting my over $500 a month gas bill since it came w unlimited Superchargers.

2 years in and it has worked so far. Get your dream car sir, and if things change you can rent it out, or as I tell my friends that ask “how can you rent out your brand new Tesla?” I ask them: “would you take a free used car that you get to drive roughly 3 weeks out of the month.”

@Kathy Johnson

Thank you Kathy, I will take your advice and reach out to them after the new year if he still has not returned all funds.

Hello, I was recently relocated for work and had to use a short term lease (June 10-Dec 10) in Fresno CA. Unfortunately, this limited options and when we found one we put first and last month plus double monthly rate as deposit. In the hustle and bustle of work, travel, and holidays I accidentally paid the last month rent again, forgetting I paid first and last upfront.

The land lord is now saying he will not return my double payment for Nov 10- Dec 10

Land lord says he will come view the property in order to give an accounting “after New Years” which means he’s holding my deposit past 21 days

Land lord also had the place rented and moved in 3 days after we moved out.

He’s pretty threatening to work with and anytime we asked for stove to be fixed (burners never worked) or broken windows and glass to be removed from backyard (still there upon move out) he would tell me that he spoke with his handyman/property manager and that it would be removed. (Never was)

I have a sign off from handyman walk through that says the property was left in as good if not BETTER shape upon exit then move in (same guy did move in).

This guy has been pretty terrible and now has $1,700 from extra payment that he states he won’t return and hasn’t given deposit back.

@Scott V.

First, amazing job on your earnings and financials with no debt.

I was in pretty much the exact same position roughly two years ago and was in the market for new car (my Hyundai engine blew on 210 fwy at 185k miles).

I travel a lot for work and wanted a Tesla model S w autonomous driving ($85,000) but am all about saving and investing (max 401k, investment properties, index funds) so buying a depreciating asset scared me.

But I found a solution: Turo. I “car hacked” a new Tesla model S on weekends and drove it on weekdays thereby covering my loan w weekend rentals and cutting my over $500 a month gas bill since it came w unlimited Superchargers.

2 years in and it has worked so far. Get your dream car sir, and if things change you can rent it out, or as I tell my friends that ask “how can you rent out your brand new Tesla?” I ask them: “would you take a free used car that you get to drive roughly 3 weeks out of the month.”

@Katie Lepore. Thank you for so much insight. There is so much to unpack here. I would love a referral for so cal area due to the complications of multi-state and multi-LLC. I currently live in Santa Clarita but am willing to travel a reasonable amount to visit a quality reference.

@MaxGradowitz, ty! Have you experienced how having multiple SFR in separate states affects taxes? Should I have a sep LLC for S.C and CA?

Hello, I currently own 6 SFR properties in Bakersfield CA and 3 SFR properties in South Carolina and am looking for the best advice on how to structure a partnership. I own 3 in Bakersfield on my own, and the remaining 6 with a partner. We are buy and hold investor's looking to build cash flow and, eventually, start buying houses and acquire funding from a tax id of some sort. Looking for guidance and recommendations. Thank for all you do!

@gerard Lester I was also looking at investing in vacation rental in Santa Barbara area but with the changes in STR laws I’m feeling kind of stuck. Love to connect and see what idea u have as well as fees.

April 15th sounds great!!