All Forum Posts by: Paul K.

My friend is the master tenant in a 3 bedroom 1 bath rental in San Francisco. They recently subleased out the room for a 6 month period and then Month to Month. In the lease, they put down that the tenant waives their right to be the only one to put in the 30 day notice(section 37.9), and that they, the master tenant, can put in their 30 days after the 6 month initial agreement.  In the lease, it is not as clear but states "the master tenant informs the tenant in writing that tenancy is not subject to the just case provision of section 37.9. 

  The 6 month period is closing in and the tenant is saying he will stay until "he" decides to leave.  He is unaware of the section 37.9 that is giving master tenant 30day notice. 

My friend isn't planning on moving back in yet, but is planning to in the next 2-3 months. 

My question is- should they highlight the lease terms to the tenant now or wait till they decide to give the 30 day notice? 

They don't want to have a disgruntled tenant in their home longer than they should.

Thank you in advance for any insight, and i understand this is a very San Francisco question!

Hi BP,

I recently sold my florida property and was in the process of finding a new property in KC when i lost my W2 job. I was planning on getting a 30yr fixed mortgage, but that's mostly out of the question. 

I have money sitting in the bank to invest, and not sure best way to execute. Should i wait to get another job (2-3 months) so i can get a loan and purchase 2-3 properties, or purchase 1 property with cash?  I could then refinance at a later date?

Thank you for any advice🙏

Hi BP community,

Im looking to do long distance investing into south florida- * first time out of state investment

A friend of a friend found a condo that we will offer $70k cash. It needs a mostly cosmet rehab with new carpet, fresh paint and cieling repairs. Nothing too major.

The friend of a friend wants 25k for finders fee and performing and managing the rehab.

All in this will be about $95k out if my pocket and ARV will be $110k.

im planning renting it out, cash flow will be about $400, and refinancing property

decent deal?

does this seem fair considering im carrying the financial burden?

what other due diligence should i perform?

thanks in advance for any help with this!

Paul

Thanks @Chris

Hi BP community,

I was using sellers agent to represent me as buyer for a duplex. It was in decent shape but the As-Is offer "buyer buying a duplex in as-is condition without any warranty".. so I wanted a contingency of satisfactory inspection.

The agent finally agreed after a long conversation and included "Purchase contingent upon Home Inspection by professional inspector."

Would that have protected me as a buyer if major things came up in the inspection?

Theres is no language included stating approval, satisfactory, etc., but only that an inspection should be done.

Thoughts?

Thanks in advance!

PK

@Patrick M. Thanks for your insights!

@Chris Ma thanks for your input! Had a tough conversation with both tenants but it's all been dialed in and they agreed to the increase.

Hey BP community,

I raised rents by 6% on February 1st taking effect starting in May.   Now Corona has hit and one tenant says she can't pay and the other just paid the the old amount. 

Question is should I still enforce the new increase on both tenants, or since one can't even pay, should I delay the increase on both until the dust settles?

Thanks in advance.

Best,

Paul

My sister wants to upgrade into a larger house as her family is growing and she has 3 little girls(my nieces). She has her own small business and is looking to get into a larger house with 3 car garage and convert the garage into her headquarters instead of paying $3k/month into her existing commercial space.

The new home will cost $800k and she wants me to cosign with her.

She has also proposed me going into the property with her at 20% and her business will rent out garage from me. Idk at what amount but probably around $3k/month

What are your guys thoughts in this?

What would the numbers need to be for it to make sense?

Lastly, will I be impacted with future loans?

Thanks in advance for reading this far :)

-Paul

I want to get a book or suggest a course about Real Estate tax law for my brother that is a tax attorney.

Ideally something about taxes on small duplex/triplex investments, rehabs, depreciation, etc., and how to maximize savings and write offs. 

Any recommendations?

Thank you for anyone that makes a suggestion!

Best,

Paul