18 October 2024 | 34 replies
Years later I had 50 mortgages at one time, and it seemed like all I was doing was writing check to mortgage banks and lenders.
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10 October 2024 | 2 replies
The goal is to make the property more attractive and functional for future tenants, boosting its After Repair Value (ARV).3.
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14 October 2024 | 9 replies
The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!
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9 October 2024 | 3 replies
Ideally I would like to build a new construction that’s smart and functional that I could then rent out not a palace.
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11 October 2024 | 2 replies
Tenant is required to notify Owner in writing of Intention to Vacate or Intention to Re-new at least 60 days before the expiration of this lease.
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11 October 2024 | 2 replies
Assembly Bill 1771, also known as the California Housing Speculation Act, aims to change real estate tax policy to discourage investors from quickly reselling properties like single-family homes.Under the proposed bill, an additional 25% tax would be imposed on the gain from the sale of a qualified asset (including homes) within three years of the previous sale.The tax reduction is dependent on the number of years passed since the initial purchase of the qualified asset, ranging from a 20% reduction for sales occurring between 3.01 to 4 years to a 100% reduction for sales occurring more than seven years after the initial purchase.The revenues generated by this tax increase would be deposited into the Speculation Recapture Community Reinvestment Fund, which aims to support affordable housing, local governments, schools, and infrastructure projects.The bill is introduced by Assembly Member Ward, and the proposed tax changes would take effect from January 1, 2023.Assembly Member Ward argues that short-term investors in the market, including fix and flip investors, contribute to rising housing prices, limiting opportunities for Californians to purchase homes.While the bill may discourage short-term speculative transactions, it is worth noting that California's tax laws still provide certain advantages for investors, including unlimited tax write-offs and depreciation benefits.The bill is subject to legislative approval, and Assembly Member Ward will speak publicly about the bill at the San Diego County Administration Center on a specified date.Please note that this is a simplified summary of the bill and its potential impact on fix and flip investors.
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9 October 2024 | 13 replies
Finding a qualified tenant/buyer is a function of marketing and terms.
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12 October 2024 | 6 replies
Depending on you area, if you do not have anything in writing than nothing is agreed to.
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12 October 2024 | 9 replies
If things got heavy I would tell them to follow the lease and send their complaint officially in writing, and I will respond accordingly, usually that ended it.
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12 October 2024 | 11 replies
hope this makes sense lol took me a while to write this to try to explain it best