All Forum Posts by: Dylan Vargas

@Herman Fox Welcome! Interesting situation. The long California play is a great call if you want to stay in California until history proves otherwise. With regard to Arizona if you are in the Phoenix metro and suburbs your equity will buy a decent primary home say for 450k but not leave you with much cash  to buy a second home (unless financed of course). You may have enough to swing 1 entry level 300k house in say Casa Grande, maybe. I dig on the no mortgage and sounds like your jobs and income will be able to move to Arizona. This will allow you to pile cash away. High interest rates, high prices  which mean higher rents make it tough to play the rental game as you may not get that required rental amount to make profit on rentals. Have you thought of out of state rentals? Might be an option if you sell California home, move to Arizona and have more purchasing power out of state. Maybe cheaper areas of Arizona or bordering California/Nevada towns to make your rental property purchase go further. At any rate....just some thought to get your mind going. Good luck and keep us posted.

@Becca F. @Nathan Gesner Welcome! Nathan said it best "You paid this guy as much as you would pay most professionals". Raise the rents %10 and Boom! Property management is covered if you think rents are low. The entire point of paying the %10 property management fee is the property management company does the service call work, leases, rent amounts etc. So I would dump your buddy. On the other hand if you have time to do this I personally will save money on property management fees and it helps;ps you learn the ropes in the area you invest. Many others wiser than me say the property management is well worth it. I just dont like the renewal fees and 1 month fees as this eats at profit. So each to his own. Depends on if you have the time and also want to be the bad guy when needed. 1 last point......if you have trouble getting service people for a class C property then it may be best to property manage. An class A property would be much less service required I would think. Good luck and keep us posted.

@Jane Ho Welcome! Several Section 8 tenants are Seniors and on Social Security income. Many are not Seniors but disabled on Social Security income. So their income will not change except for COL adjustments which are nominal usually. Section 8 also has people that work but still dont make much money so a Section 8 voucher helps them afford a place to live. There are many types of tenants on Section 8. Good luck and keep us posted.

@Shireen Y. Welcome! I live here in Chico. D neighborhoods are few and far between but are here. We have eviction attorneys in Butte County. You need a local one. I am concerned your attorney is not an eviction attorney. You need a specific attorney and a local one. I can drive by and scope the house out for you, just message me. We also have a local REI Group and I can reach out to them for you. Good luck and keep us posted.

@AJ 

@AJ Wong Welcome! I had seen a place online 3 days ago, fixer, good price and rural Northern California town. Agent had 9 offers in first day, all offers were 15k over asking. Very interesting I thought. Good luck and keep us posted.

@Eric Fernwood Thank you for the info. Great stuff!

Very good deal for that square footage. Make sure its good paint. Good luck and keep us posted. 

@Christina Salas Welcome! This year is different as the inflation adjustment is allowing a total of %10  for annual increase in most if not all California counties. This is what I had seen on the news and it caught my attention. I would confirm as this was the news and not direct from the county information. Per the rent control law, the law states %5 plus the cpi which is max at %5 this year which equals %10. I would call the El Dorado County Housing Authority and ask for an exact amount. Good luck and keep us posted.

Hello Anna! Welcome! I would check with the county to make sure you can place the homes you want to place. Some counties have limits on how many homes or tiny homes you can place on a property or how many per acre etc. Good luck and keep us posted.

@Dana Revallo Welcome! Well if he had simply replaced a E L Musty unit with something similar the cost would have been much less as he didn't have to move any plumbing for the most part. Problem is he built a wall and shelves that added some costs. So, the walls and shelves were not necessary but for the look its reasonable. Next time get an hourly cost ahead of time. The moved drain can cost some time and money though as well as the new valve install. With what I see done the cost isn't too bad. Question is will this get more rent money or no? If not then I would have done a simpler remodel. May have had to move drain anyway though. Good luck and keep us posted.