All Forum Posts by: Calvin Lin

Hello from Cary. While I agree that having Apple and Google coming here is a boost to the area there maybe 1 downside to not selling now: as this is your primary home by selling it for a profit it would be tax free where if you turn it into a rental you would lose the tax free status. Maybe create a LLC and sell it to that first and then turn it into a rental? Not a tax expert but worth doing some research.

Excellent story and congratulations.  Is it OK if I share this with some of my FB friends by reposting? 

I live in Cary but invest mostly in Raleigh, Durham, Holly Springs and Chapel Hill. In fact I just bought another SFH as a rental in Durham close to RTP. If you are looking in that area try looking within 5 miles radius of RTP because there are lots of high tech well paying jobs there. Stay away from areas closer to downtown due to crime as there been a huge uptick in shootings in those places lately.

Want to add a contrarian opinion here: if turns out in fact his survey is correct and he has the legal right to move the fence and you then try to use some legal statue to claim possession, then how piss off do you think he will be and what kind of problem can he cause for your rental down the road?  It sounds like your drive way is partially on his property and if so I think most of us would try to correct that situation.

If the tenant re-keyed without authorization isn't that a violation of the lease, which now you can use to bypass the covid no-eviction law?  Also not letting you or the PM into the apartment should be another violation.

Question was a background check done on this tenant prior to signing the lease?  Just want to learn if something was missed if a credit report was ran on her.

This is crazy but I am in Cary too and my tenant just texted me 3 days ago about the ice maker not dispensing ice.  It is making them but the blocks of ice would not break up and dispense despite the crusher making noises and trying.  I second the idea of using a table top ice maker which is no more than $100, problem solved.  I wouldn't even bother calling appliance repair because they charge $100 per trip before even fixing anything.

Hi all so I have been in the market to find a contemporary / modern style home for personal use for some time in a few different states on the E. Coast primarily but it seems that there are very few builders on the E. Coast that build such homes, where as on the W. Coast / Western US you can find plenty of such homes in places like LA, Seattle, Las Vegas.  Is this observation correct and if so why is that?  Is this type of home just not attractive to most buyers or something?

I just read an article on NYT today that according to Zillow data analysis done by a couple of researchers from Wharton Business School which said low-lying areas in FL and other places have seen housing prices depreciation since 2013 which was a period of rapid housing prices increase nation-wide.  It used Bal Harbour as an example where nominal prices fell 7.6% during that period and volume fell by 50%.  According to them this is due to hurricane flooding threats to these coastal areas less buyers are interested, not to mention high insurance cost. 

I have always wanted a place near the beach in FL for fishing but this was always the reason that held me back.

Yes screening is super important under this type of no-eviction environment but I hope people realize the longer the no-eviction policy drags on and the talk of new ones coming on after whatever current ban expires the more tempting it is for current paying tenants to stop paying.  Remember the GFC in 2008?  After many homeowners stop paying mortgages and walk away many under the water homeowners even though could have kept paying their mortgages stop paying too because hey why pay if others are not paying and get to stay in their homes for years because foreclosures are all backed up for years?  This situations can easily escalate into something like that, except this time it will hit rentals.