You have heard it all before. Some of us have even said it ourselves, “Being a landlord can be a pain.” Most people in this country will agree that it makes a lot of sense to buy property and invest in real estate. We also know all the benefits of investing in real estate. You…
DetailsProperty managers spend a large portion of their time monitoring the fiscal aspects of their business. Whether they’re keeping a close eye on rent ratios or fine-tuning marketing strategies, it’s likely that they’re funneling the majority of their time and resources into the daily grind. When was the last time you got away from the…
DetailsQuestion 1: I have a Richmond tenant who submitted her 30 day notice on August 25 with a move out date of September 30. The tenant is now requesting an extension of 30 days, but I have already signed a lease agreement with another tenant who will take possession of the unit on October 1.…
DetailsHello everybody. The latest trend in labor law litigation by a resident manager against his employer is to file a class action type of lawsuit, known as PAGA, on behalf of all of the employer’s other resident managers living in other apartment buildings. In other words, managers are now not only suing to recover their…
DetailsThe below letter by Attorney Michael Millman, was sent to the Berkeley Daily Planet, in response to an article written by Harry Brill. Dear Friend: The destruction of affordable housing for “very low income” individuals arises from a study of the Failure of Rent Control.
DetailsThere is nothing more sobering than hearing a fellow investor talk about costly mistakes they made. Anyone who has done lots of investing has made bad decisions or made mistakes along the way. A quote of Jim Rohn comes to mind, “It’s important to learn from your mistakes, but it is BETTER to learn from…
DetailsIf you’ve missed some of the prior articles, basic guidelines on successful investing are in my book “Stairway to Wealth” available at LuLu.com. Continued from Part 23: It had taken her a touch over five years, but she now had bought and sold a commercial SFR that she had transformed into a day-care center, and…
DetailsWhen it comes to tax deductions, there are a few schools of thoughts. There are the people who want to write off everything, whether it’s legal or not, and figure the cost of an IRS audit won’t be that bad. Or else they think they can’t ever get caught. They are invisible, or so they…
DetailsQuestion One: I have rent controlled apartment in the City of Los Angeles. I inherited one tenant when I purchased the building. This tenant did not have a written rental agreement. At the time, this tenant owned two dogs and now he owns four dogs. This is really getting out of control. Is there something…
DetailsRecently, while waiting for an event to start, I chatted with the woman sitting next to me; a small property owner. I described SPOSFI and she sniffed, “Why join something like that? We’ve never had any trouble with our rental.” “We’ll be there when you need us,” I replied, as I moved to another chair.