All Forum Posts by: Aaron Kaplan

Hello CA BP owners,

Im sure someone out in BP land (or many) know this but wanted opinion...

Wife and I have SFR in Davis, CA fully paid off and plan to roll that equity in 1031 into something else.

Current lease is MTM as of June,2020.

Does COVID moratorium change things w MTM leases? I would think that since lease ends technically at end of each month we can give them notice we plan to sell (our contract has 60d notice) and then we could be good to go...

But w COVID does that still apply ? 

Seems murky to me but I am not an attorney.

Anyone with knowledge in this realm I would love the help.

Thanks in advance

Hello folks in the BP Davis community.

I have a SFR that was our prior residence in Davis CA that has been rented out for 8 yrs and now we plan on selling after lease runs out this June.

We need a good design build firm or contractor we can work with to run the project as we live out of state (Vancouver WA) and spruce it up with light rehab as much of the house is untouched since built in 2003.

We are definitely NOT doing crazy expensive upgrades but will do a moderate upgrade so that we can max the value add/ROI that's worthy of the good neighborhood this house sits in (Wildhorse). esp as we transition from current renters to selling to end user (eg likely family).

Does anyone have good trusted contractor or design build firm they can vouch for that does well executed remodels on time, on budget?

We dont plan on moving any walls or anything big... we do plan on tile work, countertops, lighting/fixture/hardware replacements, taking out old carpeting and replacing with LVP (vinyl plank flooring), replacement of old appliances wtih new stainless plus a moderate master bath remodel (take out old fiberglass tub/shower and make that area pop with new shower w tile and sitting tub. Interior painting as well.

basically-- decent amount of worth with ZERO structural or any wall changes etc. 

Thanks for any help in advance.

Mother in law has NNN Burger King in CA... tenant has been very problematic repeatedly. (Late in rent payments multi times and not paying late fees, Incomplete tax payments...)

Need good attorney to help w enforcing lease issues and what happens presuming tenant doesn’t renew or MIL doesn’t want this tenant anymore... not sure if these national chains find other franchisees to take over or?

Any refs or suggestions or help would be superb

Thanks in advance.

Wanted to find out if one can 1031 from a personal residence to a Commercial MFR? I thought that was a no-no but perhaps it IS allowed?if Not, how long would one have to rent out the personal residence (treat as a rental and hence a like kind) in order to then qualify as "like kind" for an exchange.

My dad has a house in suburbs of Boston and isnt selling soon but would be good to know how to dispo if he wants to do a 1031 eventually...

Any help from the BP congoscienti would be fantastic.

Thanks in advance.

 Hey wife and I are Aggies as well-- GO AGS (class of "gulp" 1994!) Thanks for the tip-- i will PM you to get that GC contact that would be really helpful. Much appreciated.

I totally agree @Sergey Tkachev. Key is to engage in a broker who knows this submarket and make sure to not  "over rehab" for sure.

I am passive investor in just under 400 units of which 1/2 are in ATL and 1/2 are in Texas (1/2 of those in DFW other 1/2 in a secondary TX market north of DFW). I don't invest MFR locally in CA. The ROIs havent made sense for a long time. Also CA is way too tenant friendly. 6 mos to evict (or potentially even longer)... uh thanks but no thanks.

Would love to get some assistance from the BP folks local to Davis or Sacto area...

wife and I live up in Chico...

plan on selling our house that's been a rental for awhile once lease runs out end of summer.

Need to get some early connections with:

1) Recommended listing broker whom knows the area well.

2) Design build firm to help with light remodel and ideas that would make the place "pop"

-- house built in 2000 with no upgrades since and has been rental since 2012....

along with usual painting, we plan on doing prob new countertops/backsplash/appliances, prob flooring (vynyl plank vs other) and stainless appliances (currently all white) along with master bath upgrades (1st off get rid of Carpet(!) in the master bath) and perhaps a few other things that would have good ROI.

3) in lieu of design build firm a few good local trusted GC's that do remodels prior to selling would be great.

Thanks for any advice people may have on this... wife and I are mainly MFR investors and what works in the large MFR space is totally different than the SFR space.

Aaron

I have cash and great credit score... it's a decent deal I'm hunting for.

Easier said than done... Esp for commercial mfr which is where I'd prefer..

Plus don't want to have all of my eggs in TRIC --

Nice to have locale for folks overall in Reno/sparks region so as

UNR grows and overall downtown and sparks continue to grow other potential

Rentors beyond TRIC workers will be interested in renting .

Much if not nearly all of NorCal doesn't cash flow. plus tenant friendly state in CA vs Nevada much more favorable for landlord.

Reno jobs coming in with Very high housing demand (Tesla, Swich, Apple and others in TRIC industrial park) seems like good place to have a 'driveable' place to invest to but wtih better overall cap rates and more friendly landlord terms.

NorCal REI visiting Reno again ...

looking to check out neighborhoods again and possibly properties if available to view for MFRs. Ideally commercial but a decent deal on a 4plex or less are still options

Any suggested Zip Codes to avoid??  Still a bit iffy on particular neighborhoods to avoid... seems like a decent chunk of 89509 is not too savory... are all of 89503, 89512 and 89509 a step (or two) above 509? 

Any true benefit to buying in Sparks being closer to TRIC (Tahoe Reno Industrial Ctr) with Tesla GIga factory et al. vs the other neightborhoods in reno proper?

Would like to meet with, if not this visit, the next trip out there for:

1) recommended GC's 

2) title company 

3) insurance agent(s) 

4) escrow folks

5) portfolio lender(s) / local recommended Capital

6) **most importantly** good & RELIABLE Property Mgt Company.

Thanks in advance.