All Forum Posts by: Alex U.
Alex U. has started 37 posts and replied 93 times.
Post: Notice to leave California

- Investor
- San Diego, CA
- Posts 94
- Votes 32
I had a question for some of our experts. My tennant sent me an email stating he is leaving in 28 days, our lease says he must give 60 days notice. I told him fine, I would make every effort to market the property and find a new tenant quickly.
I sent him a form from the bigger pockets landlording book"Notice to vacate" I want him to sign the form stating when he leaving and a forwarding address.
He is not responding, so my question is does an email constitute a notice to leave?
Post: Inherited tennant leaving - No condition report

- Investor
- San Diego, CA
- Posts 94
- Votes 32
Thanks everyone for your feedback. At the time I purchased the unit, I did do a home inspection. It is 20 pages long. My understanding is that the since a condition report is from the tenant, they lay out everything that is lacking, and thus it is assumed that everything is perfect minus what the tenant may have stated. This vs, an inspection report which is not from the tenant.
Though during the 4 years he was there:
He broke, and I paid for all the following out of my pocket.
washer dryer, new garbage disposal, broke 2 drawers, broke front door security gate lock, broke front door lock, broke kitchen faucet, I re caulked bathroom, changed light switch, installed iron chair railing(because he complained after living there 3 years ), ceiling fan, toilet seat. This does not include the holes in the walls, scratches on paint, and carpet that is ruined. All in all I think I lost money over for years, as cap rates in california are 2%.
Post: Inherited tennant leaving - No condition report

- Investor
- San Diego, CA
- Posts 94
- Votes 32
I am a fairly new property manager. I bought my first rental 4 years ago, and inherited a tenant from hell. Luckily, he just gave me 28 days notice that he is leaving, even though our lease says he has to give 60 days.
When the previous owner rented it to him, no condition report was made. I did get an email from the old owner, that the tenant sent 4 things that was wrong with the property when he got possesion. This was in a free form email, not on a form or anything. Then tenant, 2 kids and dog, have been hard on the 2/1 900 ft condo.
Any idea, what I should do in inspecting the property when he exists? What condition can I compare it too? Ive never lived in the unit, nor did I get a good chance to inspect it even when purchasing it.
thanks
Post: Looking for direct mail partner

- Investor
- San Diego, CA
- Posts 94
- Votes 32
Post: Cashout refi on Primary Residence to payoff rental mortgage

- Investor
- San Diego, CA
- Posts 94
- Votes 32
Post: Cashout refi on Primary Residence to payoff rental mortgage

- Investor
- San Diego, CA
- Posts 94
- Votes 32
Post: Buy and Hold in San Diego

- Investor
- San Diego, CA
- Posts 94
- Votes 32
Post: Cash out refi for rental property

- Investor
- San Diego, CA
- Posts 94
- Votes 32
I was wondering if someone could give me the pros and cons from an asset managment and tax perspective regarding doing a cash out refi to purchase a rental condo ( for cash)
Rates on owner occupied properties are about 2.625% 7/1 arm, whereas on a rental they are 3.5%, so by taking cash out of primary I get a much better rate.
My understanding from a tax perspective is that, I can still take the mortgage interest right it off on my primary, which is similar to interest on rented property as it all goes to a persona 1040.
Post: Buy and Hold in San Diego

- Investor
- San Diego, CA
- Posts 94
- Votes 32
Post: Buy and Hold in San Diego

- Investor
- San Diego, CA
- Posts 94
- Votes 32
Appreciate all the feedback and personal experiences. Having lived in San Diego my whole life, I can relate to the strong demand and rental rates, and strong appreciation(bubble-like). The only deals that I find that kind of have worked for me are distressed sales(short sales), but those are really drying/dried up.
Do any of the folks on this thread, do bandit signs, mailers, driving for dollars, or absentee owner lists? Or are most of your purchases MLS?
I have been attending a few Meetups in San diego, most of them turn out to be sales pitches from RE agents, Title companies, Mortgage brokers....any recommendations on some real investor meetups where experienced investors are willing to mentor?