All Forum Posts by: Ryan Wamsat

I've read through the voter information guide as well as the text of the proposition on ballotpedia.  Section 3f states "To exempt the owners of one or two residential dwellings from any local rental control law."  Neither provided any clear guidance.  I'm hoping the gurus here have more insight into this.

My questions are these:

1. If an out-of-state landlord only has one rental property in California and additional rentals in another state, is he/she exempt?

2. Similar to question 1: If a California landlord has one in-state rental and multiple out-of-state rentals, is he/she exempt?

3. Lastly, what happens if the rentals are put in an LLC and therefore not "owned" by a person anymore. Assuming that LLC only has the one rental. Is it exempt?

There is a REIA group for the Modesto area, headed by @Jenell Poncabare where you can meet many of us.  On Meetup. com, look up "Stanislaus County Real Estate Investors".  Unfortunately, we've suspended meetings until the concerns over Covid-19 subside.  I believe there is also a Facebook group, but I don't have those details for you.

@Miljana Pauzenberger It's the first post in this thread.

@Tricia O'Brien - I highly recommend Michael's FB group.  If she is named on the lease but is not a signatory, then you do not have a fully executed lease.  You should not have counter-signed the document until it was completed by your tenants.  I would highly recommend that you have her sign it.  A lease amendment, at minimum.  The 60-day notice would then be addressed to both parties.

@Katie Hudson, the group meets on a monthly basis.  It's typically been on a Thursday, but occasionally changes to an alternate day-of-week.  I believe there are a few other meetups as well (not specifically in Modesto), but those seem to be targeted towards a specific niche (flipping, tax liens, multi-family, etc).  @Jenell Poncabare's meetup is more all-inclusive and geared towards novice investors looking to learn from each other.

You and your husband are welcome to attend.

@Steven Holiday

I live in Modesto. It's not exactly an investment hotspot, I'm sad to say. Much like the rest of California, you'll have to buy your cash flow here.

@Miles Stanley  This is what I was looking for.  Thank you very much.

@Clint G. No, I'm from California.  I'm considering investing in Corpus Christi.  BFE = Base Flood Elevation.  Though I know the definition, I don't have a practical understanding of what it means.  And, therefore I have even less of an understanding of what "BFE9" means.

I'm considering purchasing a house for rent in Corpus Christi, on Padre Island.  I'm trying to research flood plains to assess the risk associated.  This house is in a BFE9 area.  I would appreciate it if someone could provide me with the pros/cons of owning a rental property on the island and an "Explain it like I'm 5 years old" explanation of "BFE"s, in particular BFE9.

Thank you,

Ryan

@Ned J.

That's the one.  See you there.