All Forum Posts by: Dong Yan

Dong, thanks for posting this.  

I am not from California, and have no dog in this fight, but this is important.  The political winds are blowing against landlords in every market.   The public increasingly sees us as greedy and opportunistic --  they do not understand our increased costs or our need for a reasonable return on our investments. 

I hope all the CA investors call and email their state representatives.  It makes a difference.

@Jocelyn Canfield true but a 1099 contractor can be paid through an S-Corp and reduce FICA exposure via paying a reasonable wage. They can deduct health insurance and other ordinary and necessary business expenses. They can max out contributions to 401(k)s at $54k per year.

Ultimately, it’s a better to have control over your income and the corresponding deductions.

@dong 

@Dong Yan does not apply to rentals.

Formative property management in Riverside has special prices for investor properties. He also had a lead on a couple duplexes in banning by for around $200k.

I recently bought a duplex with inherited tenant, the phone numbers on the leases I received were fake. So I went to their door and knocked and I introduced myself and told them I was their new landlord. They both said they would pay me tommorow and I set a time to come get the rent at that time and one got arrested and the other said she would have it tommorow. How do people deal with someone that says they will have it tommorow then doesn't have it?