All Forum Posts by: Al Lee

In looking over the properties available in MidSouth, it seems the cost of the properties are now much higher (as is everything else).  Looks like minimum is not around $120,000 for a property.

Was wondering if Midsouth has contacted you yet, I've been on the waitlist for over a year also.  Just e-mailed them and they said they are working on their backlog and will contact me in 8 weeks.

Was wondering if anyone can provide any recent updates to their experiences with Memphis Investment Properties.  

@Jaime Rossini. Don’t get me wrong SF is a great place to live but tough for landlords. I know because I am one.

If the property is in SF, it's a tough environment.  SF is a rent control market.

First find out about any current tenants, how long and what the rents are

Second, It's a lottery to convert multi-units to condos and since there is rent control many people keep the property vacant during the process.  

TIC, don't know much about them but there are a lot of restrictions. Prior to covid, any unit for sale under a TIC was selling below what a condo would be asking for.

If you have an annual lease that states your rent is $xxxx for one year, then the landlord should not be able to increase the rent for at least one year, due to the lease terms.

However if you move to M2M, the landlord can increase your rent again with a 60 day notice as long as they are within cap specified.

Does anyone know how long this bill is in effect for?

I'm still on the waitlist for Mid-South, been well over a year.  Due to Covid their backlog has been extended, hopefully they will be contacting me in a few months.  Glad your experience so far is positive.  

Congrats's on completing the remodel, the house looks great.  Appreciate you sharing the cost breakdown.  I'm always surprised by all the cost in the DYI shows and how they are able to complete their remodels at such a low cost.  Realize the shows are regional based, but always surprised on how much they can complete with their budgets.  

I've seen many new rooftop decks being added when we were able to go to open houses (in SF).  I'm surprised that a zoning change is needed.   Here is a link to the SF Building Dept for rooftop decks - https://sfplanning.org/resourc....  and another document on SF rooftop decks - https://sfgov.org/bdappeal/sit...        The documents does state permits are needed (which in SF is a pain in itself) but nothing about zoning changes.  The requirements will vary by city, but I would think SF would be the most restrictive.  

My daughter would like in the future to add a rooftop deck to her condo in SF.  So I'm interested in this subject as well.

Have a 1 bed room in-law that was rented a year ago for $2,000/month up for renewal in December.  The tenant asked for a rent reduction to $1,750, he wanted to stay in San Francisco but he was considering moving to out of SF since he could now work from home.  I felt he was sincere, so since I would have lost at least a month rent if he moved out decided to renew at $1,750.