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15 June 2024 | 8 replies
What investing strategy are you planning on pursuing?
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14 June 2024 | 18 replies
I’m also in California and have debated about every strategy out there 😅.
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14 June 2024 | 23 replies
My strategy is to have a portfolio with a mix of LTR/MTR- single family or small multi.
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14 June 2024 | 4 replies
From hearing different strategies like BRRR, Fix & Flip, House-Hacking, etc., I've gained most interest in Mid/Long-Term Rentals and BRRR's, and I would most likely want to try to Owner Occupy a House-Hack as my first property.
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15 June 2024 | 54 replies
Linwood Ave from Dave Koehn | PDF Attachment8/29/2016 - Received photos of 2021 Linwood Ave from Dave Koehn at Morris Invest8/29/2016 - Brian Freeman e-mails Dave Koehn of Morris Invest to take the Linwood property8/29/2016 - Nicole Meckley emails Brian purchase agreement8/30/2016 - Nicole Meckley emails Dan from Paramount Title9/7/2016 - Sale closing of Property9/12/2016 - Nicole Meckley sends me info for the cost to rehab; ($5,100) | Estimate Attachment | Wiring Instructions10/3/2016 - Nicole Meckley responds to Brian Freeman that the flip is now complete and they will send photos and start marketing the property;Note that the property never needed to be “marketed” as there was purportedly a tenant already in place at the time of sale of the property (see 12/13/2016 below)10/13/2016 - Nicole Meckley writes that the flip is complete and she only has a photo of the furnace because there’s a tenant in already;Note that if any rehab was done it was while there was a tenant occupying the property10/18/2016 - Nicole Meckley writes all of the contacts at Oceanpointe to start rent deposits;Note that Oceanpointe likely received and collected a month rent without remitting it to the new owner from closing date of 9/7/201610/31/2016 - I notify Morris Invest that I have already been cited by insurance for an improper dog breed;11/15/2016 - I write Clayton Morris that I never saw the before & after rehab photos; I ask for the lease paperwork.11/18/2016 - Bert Whalen tells me he will send me the photos personally;11/29/2016 - Nicole Meckley writes an email with photos after the flip that are of poor quality; she sends the repair estimate that states what was fixed; | Part 2 | Estimate11/29/2016 - Brian sends payment by wire via Wells Fargo $2,55012/13/2016 - I inform the Morris Invest team that I still do not have a copy of the lease;12/13/2016 - Clayton emails me a one page lease signed by a Kent Stork on 7/2/2016 (prior to my purchase of the property - I did not notice this at the time)Copy of lease4/17/17 I write to Clayton Morris informing him that the taxes doubled from the advertised taxes for the property;11/2/2017 - I write to Clayton informing him that I am being sued by the Marion County Health Department; | Copy of Summons and Complaint11/3/2017 I write to Clayton Morris asking if it’s normal to get sued by Marion County; he replies yes that his office handles it;11/3/2017 I write to Clayton Morris informing him that is was a surprise there were so many reported issues with the property;12/29/2017 - I inform Clayton / Oceanpointe that I was cited again and he tells me that they are working on it.
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15 June 2024 | 8 replies
Pleasant but my agent did not recommend that area for rental, especially medium term (my strategy).
15 June 2024 | 7 replies
Finally, other tax deferral strategies prevent you from getting immediate cash, and your stated goal was to get cash for a down payment.Either this firm does not understand what you're hoping to accomplish or they are not being straightforward with their promises to you.
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13 June 2024 | 4 replies
Deposit Insurance Concerns: In many countries, bank deposits are insured up to a certain limit by governmental agencies.
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13 June 2024 | 3 replies
Landlords worry that the security deposits allowed under the bill will not be sufficient to cover these damages.The presence of pets can lead to higher maintenance costs due to wear and tear, noise complaints, and the need for more frequent and thorough cleaning.Financial Implications: The bill prohibits landlords from charging additional rent or security deposits specifically for pets, which landlords argue is necessary to offset the increased risk and maintenance costs associated with allowing pets.Landlords may need to increase their liability insurance coverage to protect against potential issues arising from having pets on the property, which could lead to higher insurance premiums.Key Provisions of AB 2216No Blanket Pet Bans: Landlords can’t have blanket bans on common household pets without valid reasons.No Extra Charges: Landlords can’t charge extra rent or security deposits for pets.Documentation Requirement: Landlords must provide written documentation if they restrict pets for health or safety reasons.Pet Liability Insurance: The bill might require tenants with pets to have pet liability insurance.As always, I’m here to discuss how this might impact us as property managers and landlords.
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18 June 2024 | 121 replies
During the whole transaction, everything seemed above board until after being "approved", the "lender" hit us with a fee of $4,510 for loan orientation, documentation, and insurance fees to be paid before receiving the loan.