All Forum Posts by: DG A.

I just completed the petition on my place.  I got my exemption certificate early (I have it now) but it won't be valid until later this month.  The office over there is working on the petitions from August and September.  You should start filling your paperwork about 4 months before you'll need it. 

Also the certificate is only really necessary if your tenant disputes your notice to increase rent.  So assuming your tenant doesn't dispute you could go without it too.

Exempt from the rent control ordinance,  not just cause. Thus he can raise the rents in 12 months (I'm thinking) 

The percentages are how many homes in the county are affordable? So, in Alameda County for 2018.2 only 16% of homes are affordable. Is that right? 

Hey @Henry Lazerow , 

Is this change (allowing the purchase of 2-4units) coming from Fannie Mae? That exact issue has delayed me from buying my 2nd property in Oakland for a while now.  

Also, is the down payment on a 4 unit only 5%? That's amazing if that is the case. Typically, the down payment required gets bigger the more units you buy.

Lastly, what are the cash reserves required on the property (duplex) I'm departing, and the next property I buy (I'll be aiming for a triplex)? I just have the one duplex now. 

@Saj Shah How did you finance the next 3-4 properties after your first? Did you have 20% down for each of the next ones? Did you pull equity? I'm stuck saving for down payment number 2 at the moment.

I just saw it go pending. Did you take it down?

Duuude,  listen to Arlen. He let me ask a 100 questions at a meet up in Milpitas. You're going to make so much more money in CA in the long run. Read his posts. 

yeah,  I have to agree. Single family home owners want costa Hawkins rent control exemptions on single family homes. 

Repealing costa Hawkins went up for vote, but repeal was voted down recently. I don't think it's going to pass because of SFH owners interests in the exemption.

I would build a new fourplex with that money.  All units would be exempt from rent control for the foreseeable future.

I wouldn't do it,  you don't have any plans to get the rent up. You'd do better putting your money into the stock market. You need a plan to increase the value. This deal as is wouldn't interest me.