Once upon a time, California was business friendly and people migrated here for a better life. Builders could count on lines of buyers ready and able to purchase anything with a front door. Buyers could count on lenders to cooperate with increasingly easy-to-qualify-for loan products, allowing prices to graduate ever upwards. This excitement led to…
In a competitive environment, the way you “sell the value” of your properties, not just “show” your properties, is critical. I often get asked by landlords who are frustrated, “Why can’t I get it rented?” The landlords believe their properties are in excellent condition, they even include WOW factors. But yet, they show their rental…
Dear AOA: Thank you so much for sending this alert. I did receive quite a few emails from outside USA when I put ad for rent on Craiglist. Most of the cases were that they had business here and needed to come to the US and wanted to rent my property. Then they asked for…
The IRS is on the warpath against real estate investors. Perfect. You’ve taken money out of the failing stock market, or prudently decided to put it in real estate before the stock market even sniffed apocalypse. You have your rental properties in Los Angeles County, or your rental homes leased out in South Orange County. …
You probably agree almost nothing is worse than having an empty rental property. Two kinds of costs can hit hard: real costs (like utilities, taxes, maintenance, and cleaning) and opportunity costs (like lost rental income and a higher risk of crime). In this business, we call it the vacancy rate. But that’s kind of an…
I have elected today to reprint an excellent article I recently read. The article is written by Peter Ferrara, a long-time serious conservative/libertarian. This is perhaps the best critique of President Obama that I have ever read. If you are an Obama fan, you probably don’t want to read this; on the other hand, maybe…
If you’ve missed some of the prior articles, basic beginner guidelines on successful investing are in my book Stairway to Wealth available at LuLu.com My clients generally prefer mid-sized apartment buildings from, say, 10 to 40 units. Ok, I Know that’s a wide range, but for a variety of reasons ten units are usually more…
Q: What can I deduct from a tenant’s security deposit? A: The refund of security deposits is the most common disagreement between landlords and tenants. Common problems to avoid are:
Question 1: I believe the tenant in one of my units has died, since someone claiming to be his nephew contacted me to discuss ˜taking over the lease’. I told him I would have to have all the details in writing, and would then respond. What happens to the tenancy when the tenant dies? And…
Question One: I have a rent controlled building in the City of Los Angeles. One of my friends owns a similar building that was built around the same time as mine. He tells me that he is not under rent control because he has a luxury exemption. I have never heard of that. What is…