All Forum Posts by: David Tipton

Welcome @Kevin Yoder.  I'm in LA, but I'm looking locally first before going out of state.  It's good peace of mind to know you can always drive over if something comes up, even if you use a property manager.  RE is expensive in the bay area, but you should be able to find something between where you are and Sacramento that will have a lower entry point.

Hi @Sean Walton.  You need to be careful renting for longer than 30 days as you may create a month-to-month tenancy under California/San Francisco law.  You may have a difficult time getting those folks to leave and may have to go through a lengthy eviction process.  I heard stories of folks in LA setting up a 30-day AirBNB rental, changing the locks, staying for months until they were evicted, and doing it all over again.  You should be wary of anyone local trying to rent.  You should probably speak with an attorney in your area to get the full scoop.

You may also find this helpful, seems like they may have their own insurance program:

https://www.airbnb.com/help/article/871/san-franci...

Welcome @Joyce Tebangin! Happy new year to you as well. What brings you to BP?

Are there any other attorneys on BP who focus on real estate - whether litigation or transactional? 

Any attorneys who invest while practicing law full time in another specialty?

Any attorneys who left the practice of law to focus on one aspect of real estate or another?

I work full time doing litigation and just getting started in investing on the side. Just want to reach out and say hello. 

Hi @Rich Hupper.  You should speak to a qualified attorney in your state as these questions are very specific to your situation.

There is no ordinance yet, from what I can tell.  The Council voted to have the City Attorney prepare a proposed ordinance, in conjunction with other city agencies:

http://clkrep.lacity.org/onlinedocs/2014/14-1150_r...

It seems like the idea is to legalize and preserve those units so they can be used for low-income tenants rather than destroyed:

http://clkrep.lacity.org/onlinedocs/2014/14-1150_r...

 I agree, a lot of people never have any cash reserves and live paycheck to paycheck.  Even people with decent income will sometimes have very poor spending habits.  It seems like raising $20k - $40k for a down payment wouldn't be that big of a deal, but it is for some (I think the median home price in Phoenix is about $200k).  

Welcome @Johnny Park.  I don't have any recommendations up in that area for a broker, but I think you picked a great place to move.  Just wanted to say that.

@Crystal Aasir PM me and I can pass that along. 

You won't regret it, good stuff.