All Forum Posts by: Andrew Faukner

Hey Justin, if you look at South Lake Tahoe, make sure you look at the local restrictions on vacation rentals. We were going to start renting out our cabin, but then the city started introducing lots of restrictions, so we decided against going the vacation rental route. Good luck!

You were going to buy a new fridge anyway, so just buy it for her. I like to keep my tenants happy, (and paying the rent on time). Forget about Homedepot and Lowes when you need an appliance right away, it seems like they have to order everything, and it takes weeks. If you were in the same city, I would say to try and independent appliance dealer. In my town we have a Sears Outlet store, and it has been great for the discount, and they have the appliance right there in the store. Good luck!

Interesting that you brought this up. Talked to my CPA a few months ago, and he told me about a client that is buying small warehouses, and rehabbing them to rent to growers. I thought it was an interesting idea.

Just had an idea for you Lenny. Next time you are at South Lake Tahoe, stop by the rehab they are doing at 1101 Sonora Ave. Talk to the owner if he is around, or the contractor, and ask about the problems they've had. My family has a cabin in that neighborhood, and I hear he has had lots of compliance problems with the city. Also, for new builds find out what it costs to connect to city water. My cabin has a well, but neighbors that have switched from a well to city water tell me it cost them $10,000 in fees, and $5,000 to do the work. I don't know what it would be on new construction.

Lenny, make sure you do all your research before buying any lots in South Lake Tahoe. I don't know what the exact rules are now about new construction, but in the past it has been near impossible to build new homes. Rehabs have also been very difficult. Be careful, and do your homework!

Andrew

In our duplexes we supply washers and dryers. The washers and dryers we buy at a used appliance shop. One issue we have resolved by including the appliances is damage to vinyl flooring.

South Lake Tahoe enacted a lot of regulations on vacation rentals last summer. You might check them out before buying there. I have a cabin there, and we were going to list it on Airbnb, but I just don't think it is worth it now.

When looking for gift cards, you might consider cardpool.com You won't be able to choose the design, but it is nice to get the discount. I have purchased $1,500 worth of cards for personal use from them with only one problem card that they resolved quickly.

I was thinking about putting a solar unit from Solar City on the roof of one of my duplexes just so I can collect the tax credits then advertise for the residents to save big on their electric bills.