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17 October 2024 | 12 replies
Regardless of who wrote the lease, if it violates state law it is not enforceable.
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16 October 2024 | 5 replies
If the lender does find out that a property transfer has taken place, and chooses to enforce the due on sale clause, the lender must provide the seller (debtor) and, if applicable to state law, buyer with notification of default under the mortgage or deed of trust, and specific time as specified by state law to cure the default.
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17 October 2024 | 12 replies
If they are VERY professional, they will have their processes in writing as verification that policies are enforced equally and fairly by their entire staff.6.
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14 October 2024 | 0 replies
My only thing is why they didn’t enforce a renewal option on their contract.
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16 October 2024 | 32 replies
Further legislation continues to impact residential RE investments.
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17 October 2024 | 20 replies
I strongly believe that legislation should be introduced to prohibit property wholesaling and also prevent double closings unless it can be demonstrated that the property's value has been substantially improved.
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14 October 2024 | 13 replies
After operating 1 rental for 2 years and another for just a few months, I just got notification from the code enforcement at my municipality (whom I had visited in person) that I didn't file a paper correctly and fines are possible.
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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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14 October 2024 | 7 replies
In your next lease ensure that you have a one month penalty for breaking the lease and enforce it along with getting everything in writing when they give notice and you accept it.
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11 October 2024 | 4 replies
I am trying to make sure I am only enforcing the lease and not reading it with a biased perspective.I would happily consult an attorney for a reasonable fee (any recommendations are welcome.)The original annual lease had an end date of 3/31, if that is helpful to know.