All Forum Posts by: Rob Pattison

Thanks for your help everyone.   I asked about Zelle, it is only a service for US Banks, not internationally.     I will attempt to use Wise.

For the past 3 years, I've paid my property manager in Costa Rica via paypal, a minimal cost for me and he gets his money next day.   Now he tells me that paypal is restricting the amount and frequency of his withdrawals and wants me to wire him my monthly payment.   A wire bank to bank is $50, plus my time in going to the bank.   Then he charges me his bank's $13 fee, so a total of $63.     I learned I could save $10 and time by doing the bank transfer from home, but still I'd be out $53 every time I pay.    Welcome advice on cost-effective way to transfer money.

I've been waiting 45+ days to be paid from VRBO.   My property manager in Costa Rica signed up for VRBO in addition to what we have with Airbnb.   I've had no issues with Airbnb.   First guest with VRBO, we have an issues, 45+ days delay.

James, agree with your post, which is why I refuse to own real estate in California.

The other side of the coin is that an elderly Korean War veteran on a fixed income is also being kicked out alongside everyone else.    

I own real estate outside of CA, both in the country and internationally but have chosen to rent in Hermosa Beach due to the high cost to buy a home in coastal southern California.

The apartment complex I live in was bought April 1st by an private equity company who gave all the residents a 60 day notice to vacate so they could due a total rehab.   

They are offering two months of rent as compensation (around a total of $3 for me).    Last week, I learned about Section 8.52.110 which is an LA County regulation requiring an owner to compensate residents they are evicting through the Ellis Act (no-fault) anywhere between $7k and $20k depending on the number of rooms in the apartments and the age/disability of the resident being evicted.

I believe Hermosa Beach follows this rule, the city lies within LA County, but can't verify with anyone from the City if the City has a rule that supercedes the LA County rule.

Can anyone with knowledge of this rule and how it is applied point me to a website or other source of information that would answer this question?

Great advice on getting the rental income transferred to me upon purchase.   I do plan to get an experienced, rock-star eviction attorney.  Thank you as well for the advice on checking on the legality of any extra work done on the property, permitted or not.    

Thank you for your advice, everyone.   In Costa Rica, there is a dry season, running Dec - till about end of April.  Usually the northern portion of the country has this issue.   This year, the southern portion (nearer the equator so more rain) also has the issue.

The city or county turns off the water for everyone.   I've noticed some restaurants in town and stores have water tanks mounted on top of towers.   

I'll need to get some prices to compare.   Looking towards more the water tank.   

I have a beach-adjacent property in Costa Rica, a 2 bed-1 bath house within 60 seconds of the beach.   I've owned the house since 2021.  For the first time this year, the local government agency has cut off the water to all houses from either 7am to 5:30pm, or from 12:00pm to 5:30pm.   I already had to let one tenant out of her contract as she had small children.

The gentleman that does my handyman work, and who built my house 40 years ago has suggested a well, but has to be done in April, during the dry season.    I'm not eager to spend what i figure between $3k to $10k on a well.   The other option is a water tank.    I read the average person uses 17 gallons when taking a shower.    

Anyone having experience with this challenge, I welcome suggestions.

I have the opportunity to buy a distressed property 3 blocks from the beach in the Torrance area.    The owner has 2 weeks before the home is auctioned off.  Complicating the matters are 3 tenants, non of them paying rent.  One of the tenants appears mentally ill and another has anger issues.   

The owner wants $1.4 million, I'm thinking closer to $900k, on account there is deferred maintenance and then having to get rid of all 3 tenants. I would plan to live in the house, rent out what appears to be an ADU unit in the backyard.

He says he "needs" cash within 2 weeks.   I'd plan to offer him a cash offer of $900k, or $100k cash down and he take back a note for $1.3k.   

I'm looking for suggestions, possibly even an equity partner in the deal, and/or a down payment help funding source.

Good Afternoon David Kelly and anyone else with knowledge of this subject matter.   We are now in 2024 and I'm interested in purchasing a property in Hermosa Beach, CA, as a first time home buyer, using some form of down payment assistance.    

Can the WISH grant and the Fannie Mae / Freddie Mac Home Ready/Home Possible loan options be used currently?