Alternatively, if you do have enough cash and can move around there are a lot of markets you can house hack, figure out the best areas to invest, and house hack again in that area.

Another thing is if they need some renovations be sure not to skip corners because the work you put into them starting out, or at any point particularly on the systems, will be the work that hopefully will last for the next 10-15 years while you hold the property in your portfolio and then you shouldn’t get calls to come and fix that specific element again.

Some of these replies are probably a little too specific to be helpful.My two cents- you need an entire team that you trust 110%.

Payton Chung do you have any thoughts about what specific areas in Raleigh developers will go to first if changes are approved?

The way I see it, you can break this down into three parts:1) Setting your price- Find comps nearby, think about location, renovated/un-renovated, BR & BA count, specific features, etc.

With the advancement of AI, I thought a cool way to solve this issue would be to build an AI that can take in the information that I provide it about a specific unit, and when people inquire about the unit, either to ask a question or to schedule a showing, the AI would be able to provide them with answers to their questions as well as ask them for simple information to qualify the lead, such as, "what is your monthly household income?"

However any particular lender may have specific requirements of what you disclose.

I would love to know what everyone thinks of these.No-fault eviction rules will change for owner move-ins and remodels under Senate Bill 567, effective April 1, 2024.The California Tenant Protection Act of 2019 has been amended.Starting April 2024, more information is needed for a homeowner to end tenancy for moving or major remodel.To reclaim as owner-occupier, move in within 90 days of residents moving out.You must stay in the home for 12 months before it can be rented out again.The homeowner's close family must also follow this rule.Family members (spouse, parents, children, grandchildren), names, and relationships must be disclosed in the termination notice, following the same rules.Having occupied a rental unit on the property or a similar unit elsewhere does not qualify as grounds for lease termination.For remodels, owners of rental homes must provide more details of planned work, including copies of permits or signed contracts.If the work isn't completed, you must legally contact former tenants and offer the opportunity to move back in, so make sure to get a forwarding address when remodeling your rental home.Starting July 1, 2024, security deposits will be capped at one month's rent.Previous laws allowed 3 months' rent to be collected as a bond, in addition to the first month paid before moving in.With rising rents, move-in costs were becoming unaffordable for renters, especially for furnished properties.Moving forward, for a monthly rent of $2,500, the move-in cost will be capped at $5,000, including the security deposit and the first month's rent.This cap applies to both furnished and unfurnished homes.No need to return the difference if you already have a large security deposit of more than one month's rent.You can keep this amount even if it exceeds the new caps, until July 1, 2024.Homeowners will have increased protection against illegal occupancy with the implementation of Senate Bill 602, effective January 1, 2024.Trespassing and squatting pose genuine concerns to homeowners with empty properties.Starting in 2024, homeowners can notify the police about their vacant property, authorizing them to evict any trespasser who tries to live there or falsely claims to be a legal resident.This notice used to be valid for just 30 days.The amendment to SB 602 extends trespass letter validity to 12 months and allows electronic submission.A valid letter allows homeowners to avoid court eviction for illegal occupants.New laws to prevent credit history discrimination were introduced (Senate Bill 267) on January 1, 2024.Update your tenant screening process accordingly.If an applicant receives a government rental subsidy, you must reconsider how you evaluate their credit history and rental application.To prevent discrimination, changes to SB 267 prohibit landlords from relying on credit history unless the applicant has the opportunity to present alternative proof of their ability to pay their share of the rent.You must allow sufficient time for tenants to provide benefit statements, pay records, or bank statements.Consider this information instead of their credit history when deciding on lease agreement offers.

Working on large-scale data is great b/c sometimes it's all about how many owners you approach daily; the issue with over-the-top details is also getting lost in targeting specific owners and situations, aka focusers/tax liens, etc.

Feel free to reach out with any specific questions.