@Clare CuiI would requalify her - meaning have her provide you with unemployment amounts, how long she is able to collect and also how much $ she has in bank just like I would do for a new tenant

Not ideal, but their assessments are still double digits under true market value.

I know it'll significantly increase the value of the property by making 4 total units on the lot, but refinancing out of my 3.75% interest rate seems like a huge bummer.Thanks in advance!

However, the statute provides for exceptions that are important for CA landlord’s to understand.First, the statute expressly states that the one month limitation does not apply to rental agreements entered into before July 1, 2024, so if you have an existing security deposit of two or three times the monthly rent, you do not have to reduce that security deposits to comply with the new law.

His team apparently hires the coffee farmers and provides them a good job, fair wages, health and pension benefits, etc.

I provide private lending for Fix/Flip and BRRR projects.Outside of real estate, I enjoy spending time outdoors with my wife, twin boys and golden retriever.Excited to learn and connect with you all!

If you have performed rehab, my favorite programs offer both no seasoning and 90-day seasoning requirements to use the appraised value as the basis for your loan.

The first of course being ability to repay (which borrower should qualify for in this instance since their payment is going down), but more importantly is the loan to value. 

However, I do not plan on investing in this area due to hurdles of entry such as expensive product and high competition.

We also had that issue with several properties that had a lot of cash flow in the spreadsheet but not as much in reality, and have optimized our portfolio now to focus only on locations with high rent and value appreciation.