Matt A.
What makes an apartment in Oakland, CA exempt from rent control?
3 January 2022 | 3 replies
I pulled this list from Oaklands Rent Adjustment Program page.The following are subject to exemptions from Rent Control.Subsidized Housing.Motels, hotels if occupancy not more than 30 days.Hospital, dormitory, extended care facility, etc.Non-profit cooperative owned and occupied by majority of residents.New construction (built after January 1st, 1983)Substantial rehabilitation.3 units or less owner occupied properties.The unit that an owner occupies in any building.Non-profit facility-homeless/substance abuse treatment.Unit in trust for the developmentally disabled.Shared facilities with owner and tenants (bath/kitchen).Costa Hawkins-Single family home or condominium.Vacant unitsLink: https://www.oaklandca.gov/reso...The most notable is the houses built after Jan 1, 1983 exemption.
Scott Gammenthaler
Potential renter "injured" during property tour
12 October 2021 | 14 replies
"pain and suffering", "future loss of enjoyment", "rehabilitation for the injuries" - 20 visits to the chiropractor who would need x-rays, MRI's to make sure there is no soft tissue damage, who the heck knows?!?
Jason Velie
Advanced Taxation Question Related to Opportunity Zones
19 October 2020 | 9 replies
@Jason VelieCareful planning is required for you to take advantage of the benefits provided by qualified opportunity zones.There are a couple requirements of a QOF1) Using capital gains to fund the business2) buying a property within a qualified opportunity zone3) proper allocation of business assets(QOZ property vs non-QOZ property)4) Proper amount of rehabilitation done to the property5) holding periodGood luck!
Ethan Kramer
Fix and Flip Loan + Cash Out Refinance?
23 October 2020 | 4 replies
I will be closing on a second property in a couple of weeks and I will be in a saving mode for about 2 months before I could possibly close on a third property.I am wondering if it is possible to obtain a Fix and Flip loan to cover the closing and rehabilitation costs then do a cash-out refinance instead of selling the property like people typically do?
Ben Alan
Self-Storage Adaptive Reuse Conversions
30 October 2020 | 2 replies
I would pursue historic rehabilitation, mainly to qualify for Historic Tax Credits (Federal 20% and State 20%) unless I am obligated to abide by strict historic preservation rules which I don't believe I am.As you point out, I'm in contact with the City as well as Engineers/Architects specialized this area.I'd appreciate hearing from anyone with first hand experience in any of these areas, historic rehabilitation, adaptive reuse, conversions.
Barima Opong-Owusu
Rehabbing in 4 Unit and trying to avoid adding Fire Sprinklers
12 September 2021 | 4 replies
Has anyone ever experienced this scenario or have experience specifically in Michigan with Michigan Rehabilitation Code.https://up.codes/viewer/michig...
Sam Bannister
Should I Get A Conventional Loan?
19 November 2021 | 4 replies
But if your deal is in disrepair, FHA 203k rehabilitation mortgages allow you to combine both the purchase and renovation of the property into one long-term, fixed-rate mortgage.
Srayan Guhathakurta
Tenant who was served a 14day pay or quit notice reported flood
7 December 2021 | 2 replies
I've heard horror stories about how extensive and long it can take to rehabilitate a property, is it wiser for me to terminate the tenant's lease?
Julio Gonzalez
How to Save Money on Your Real Estate Property
7 December 2021 | 0 replies
Historic Tax Credits – If you rehabilitate historic buildings that are part of the National Register of Historic Places, you can receive a tax credit for qualified expenditures.What are some other ways you have utilized to save money on your real estate property?
Tom Casey
203K Rehab Loan Question
4 November 2021 | 7 replies
“Streamline Option” – or “Limited Repair Program”Total financed rehabilitation costs cannot exceed $35,000Maximum Sub-Contracts is 3If more than 3 are needed then a General Contractor will be requiredRepairs are limited to cosmetic repair only.