All Forum Posts by: Denise Cardwell

Last year I purchased 3 condos under my name, a few months later I put all my condos into an irrevocable trust I was already charged supplemental taxes as a new owner now I am getting charged supplemental taxes again as a new owner because it is set up as an irrevocable trust under my name is that correct? Not getting much help when I call LA County.

I purchased a condo in October of last year, head a lot of issues on getting information from the seller but because my time limit was almost up on my 1031 exchange so I went through with the deal. A few days before closing I found out that the perfect tenant was getting evicted. Now the tenant is behind a month again because her check bounced. I have a Property Management  company handling everything. The property manager collected 150.00 and gave the tenant three day notice with a promise she would pay the balance last Friday of course that did not happen.He collected a 100.00 more yesterday and he keeps telling me give her a few days. I have been in this situation so many times and I learned the longer I wait the more money I loose. Should I be patient and take the advise of the Property Manager or start the eviction process.

Bought a property in California in Jan. from another investor, already tenant occupied. Tenant decided to move out February with no thirty day notice, previous landlord never did a move in inspection. Per old lease tenant moved in early received 4 days of free rent in return for cleaning. Tenant took pictures of place when moved in and it was dirty. Since tenant moved out I charged for cracked window, lock changed because i did not receive them until the 1st, paint because of discoloration of walls from grease in kitchen only. Now tenant is suing for security deposit because of the charges I applied to security deposit. Tenant lived in unit for 6 months signed my new lease but I told her it was not valid because she marked through parts of the lease and put n/a on clauses so I told her I would refer to the old lease. Am I wrong for charging these fees?

Thank you responding to my e-mail, I do want to use the money to buy more investment property. 

I recently created an LLC this year to help with getting more financing to get more involved in investing in real-estate. Since I live in CA I have to pay $800.00 a year to the FTB. I recently spoke to my CPA and he suggested that I should dissolve my LLC because it is not worth pay an annual fees for an LLC he said if I was concerned about protecting my investment I would be better off paying a little more for better coverage of insurance. So I am torn, I want to eventually grow my business but having a personal debt ratio and recent short sale there is no way I can obtain traditional funding.