Prospective Newbie from Ventura, CA

[James Guilford]

Hi there,

I'd like to get into real estate investing, but I live in California where the laws definitely seem to favor the tenants. I'm wondering if there is a way to work around this by investing in other states, using good property managers to take care of the day-to-day details, or if there are ways to mitigate the unfavorable legal climate in California.

I'm looking forward to learning how other investors from California deal with this, as well as how to analyze properties and attract good tenants.

[David Tipton]

Welcome @James Guilford.  I don't think California laws should deter you from investing in-state if you so choose.  It's all about being educated about your rights and responsibilities as a landlord.  It also depends on where in the state you invest.  For example, Santa Monica and West Hollywood have notoriously tenant-friendly rent control schemes that require very careful study.  

I believe Ventura County has rent control for mobile homes, but not sure about any cities that have a more comprehensive rent control scheme. Obviously you would need to look into that for the particulars for your county and areas where you would like to invest.

Nolo puts out a guide called "The California Landlord's Law Book: Rights and Responsibilities" that does a good job of describing what needs to be done as a landlord in the state.  (Caveat: I've found some of the specific information related to particular rent control districts to be vaguely worded or slightly off, so definitely check with the local ordinances, rent control board, or an attorney for information on that).  I ordered a copy for about $20 online, but you may be able to track down a copy at a local bookstore that you can leaf through or perhaps the library has a copy.  

Going out of state is always an option, personally I'm looking local first.  I'm sure you will be inundated shortly with folks from Kansas City, Indianapolis, Memphis, etc. who may be able to answer market-specific questions on turnkey rentals.

BP has some great resources that I have found invaluable.  I'm in the education phase myself and really enjoy the podcasts.  If you'd like some recommendations on other resources I'm happy to give recommendations, just PM me.

Good luck!