All Forum Posts by: Phil Reason

Thanks for the replies fellas, Dan, your Beverly hillbillies comment cracked me up

I had a couple contractors look at the addition before I bought the place and they said it was workmanlike and appeared to be to code from what they could see. From my view it completely blends with the rest of the structure so I guess I won’t sweat it

I’ll update later and let y’all know how it goes. 

Hey my friends, looking for your thoughts on this scenario

I just purchased a property here in SD with an addition on it. No permits but it’s been there for about 20yrs. 

Sdge is doing a utility project in the area, and is requiring me to make a change to my electrical panel. A city inspector is going to have to come out and look at the electrical work when it’s done. 

Nervous about having an inspector here, since I know there’s an unpermitted addition on the property. You guys think it’s likely this will turn into a massive headache? Anything I should think about ahead of time? 

Thanks!

Hey Bret congrats on the home. I have a great contractor. He’s busy but very reliable and affordable 

hit me up if you want his contact 

Hey everyone

The whole thing was kind of crazy, definitely learned a few things. Here’s how it all worked out....

So I tried to talk to the tenant about payment instructions for the upcoming month and he was super out of it and he shut the door in my face. ****. Might have a problem...

Same day, someone else came by the property knocking on the door, looking in the windows and trying to get a hold of him. Gut instinct told me to leave a note for that person, so I just left something saying, hey I can work with the guy just need someone coherent to talk to me, here’s my cell

Got a call the next day from one of his family members. He had an addiction problem in the past, had suffered a relapse and was moved into rehab. They moved him out, cleaned the place, and we were done a month early. I returned his last months rent as relocation assistance (CA law) and the full deposit to help with his rehab costs. Here’s what I learned

1. I totally underestimated the inherited tenant thing. got lucky. If he didn’t have responsible family he’d still be in there and probably not paying

2. I came 5k out of pocket on the whole thing. The rent and deposit were transferred to me in escrow, but went against closing costs, so I still had to come up with cash. Fortunately had plenty of buffer, but lucky again.

3. Glad I trusted my gut and left a note. 

I felt pretty terrible that I probably triggered a relapse by removing the guy, but I didn’t know. Did my best to treat him well through the process. It does suck to displace someone and I wasn’t 100% ready for that. 

But on the bright side, we got the STR side of the duplex up and running and our first booking was through a non profit for an Afghan refugee family, with two little girls and they are great. So honored to provide a place for them. So some good and some bad in this story

thanks everyone for the support here! So helpful to us

Hey friends 

Wish I was smart enough to be giving this answer but I’m here for wisdom instead

we are down in San Diego, and what’s happening with prices and inflation drove us to buy a duplex in South Park. It’s working out great so far. But one side of a duplex is not a forever home for us. Point Loma is the real target area and it is still sky rocketing. 

So we are thinking...is there an intelligent way to BRRR on a SFR that is out of our price range now, with the intent to live in it like 10 years. Seems like a lot of risk, but not buying feels risky too.

Any thoughts would be greatly appreciated.

-Phil

Got it. He paid the last owner for October, so looks like all I can charge him is 1-7 November prorated, with 8Nov - 8 Dec for free. 

Tried to talk to him today, and he was in a bad place. May need that contact info, unfortunately 

did you also do a Notice of Change of Landlord form? 

And congrats on your duplex! I couldn’t believe we got ours in this market 

Hey Lindsey! 
yeah that’s what we ended up doing, giving him the notice of termination of his tenancy, reason that we intended to remove the property from the rental market

I noticed that about the rent (it says it on the form) how does that work? Is it for his last 30 days or his last month?

For example, we gave him notice on the 8th of Oct, meaning he needs to be out on the 8th of Dec. Can I still charge Nov rent? 

Thanks for the reply!

Yeah he’s been there over a year, so 60 days is it.love the cash for keys idea. We may just try offering to give him his full deposit back if he can be out in 30. I spoke with him yesterday and he’s not expecting to get it all back due to some damages around the house. or maybe deposit plus a couple hundred 

seriously very helpful. Thanks for the great thought 

Hey everyone!

Just closed on our first property, super excited about it. It’s a duplex in a great part of San Diego

There is currently a month to month tenant in the side we are going live in. We need to give him his 60 day notice (been there over a year) and since this is CA, we want to make sure we get it right. 

I was going to use the NTT form and use the reason 2A that we intend to remove the unit from the rental market. 

Anything I’m missing here? Willing to use attorney if needed since this is my first time with all this. 

Appreciate any insights!

-Phil