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All Forum Posts by: Francis A.

Francis A. has started 106 posts and replied 332 times.

@James Wise

Sage words my friend. Now are you ready for this? In this case the investor is truly going to be a pioneer. He has a close relative who is moving permanently to Cleveland and will actually be living and co-ordinating from not too far from the new purchase. That's commitment if you ask me. 

Either way, this journey / process might be worthy a masters thesis when all is said and done. Something tells me not to write this family off. Some go where most won't. A favorite who comes to mind is the famous Mr "Grave Dancer", Sammy Zell himself. Only time will tell...

@Wayne H.

Very true regarding contrasts. I'm sure that can be said for most cities. I've always found that fascinating in an odd way. What has happened downtown Los Angeles is nothing short of astounding and all it took was a little spark caused by the Lakers switching home venues. Even then, change took at least 5 years to be really significant. I remember being blown away buy how much seedier downtown LA was over NYC. Don't get me wrong, NYC had some seriously seedy parts too. But just to see the contrasts at that time was something else. Today? You won't believe your eyes especially if you knew what went on here. Yes it took over a decade. From what that entrepreneur from Ohio City said in the article, it took just as long there. Today, I hear that the seedy parts of NYC that I would never have been caught alive such as the formerly infamous Red Hook is now FULL of art galleries and lofts. Mind Blowing! I guess it all boils down to dollars, cents and degree of patience.

That being said, the proverbial pioneers who have come before us (and with us for that matter) always blaze a path that's instructive regardless. I'm staying tuned. 

You know what's amazing about all this? According to Google maps, Ohio City is 6.2 miles from the 44104 zip code where a 4 unit apartment building can be purchased for taxes owed and nothing else. I know this because  a friend of mine purchased one. Ballsy move if you ask me. I tried to get folks out there to guide him and... crickets!!! But where there's a will there's way.

We finally devised a plan to reach out the the local politicians for assistance. After all this is an outside investor willing to plunk down money in their jurisdiction. He'll probably get more traction that way. Go Bro-Ohiol!! I'm rooting for you all. 

Influx of Younger, Wealthier Residents Transforms U.S. Cities

Another interesting article. Are there any Ohio City / Cleveland representatives in the house? I'm interested in your thoughts. 

http://www.wsj.com/articles/influx-of-younger-weal...

Post: Minneapolis - Bryant neighborhood

Francis A.Posted
  • Los Angeles, CA
  • Posts 352
  • Votes 142

@Sam Steadman

I have started pulling preliminary title reports on a couple of properties in and outside of Bryant. There is one that was in contingency that has come back on the market. I am curious about it as there are a couple of liens on the property. I want to PM you a few of the highlights later on to see what you think. Thanks.

Post: Minneapolis - Bryant neighborhood

Francis A.Posted
  • Los Angeles, CA
  • Posts 352
  • Votes 142

@Sam Steadman

@Laura Thorne

Thanks so much for your input and valuable info. I'll circle back from time to time as I proceed! Thanks again.

Post: Minneapolis - Bryant neighborhood

Francis A.Posted
  • Los Angeles, CA
  • Posts 352
  • Votes 142

Does anyone live and/or own in the Bryant neighborhood of Minneapolis?

As an out of state investor, my preference has always been duplexes and up but lately, I've seen some nicely refurbished SFRs in the Bryant neighborhood. If you do, I'd like to know there significant attraction to the neighborhood for families with kids or young couples starting out? I am researching the potential degree of difficulty of renting a 1300+ sq ft 3bed/2ba house. Obviously, the advantage (on paper) of a duplex over a SFR is how long the SFR might sit unrented as opposed to half a duplex sitting empty but I am stating the obvious. Any additional insight is greatly appreciated. Thanks in advance!

Can we call this "cornering the market"... for now?

https://www.mashvisor.com/blog/arizona-legal-airbn...

Post: Apartment Association of Greater Los Angeles - NO VOTE on AB 2819

Francis A.Posted
  • Los Angeles, CA
  • Posts 352
  • Votes 142

Actual bill 

http://leginfo.legislature.ca.gov/faces/billNavCli...

Former tenant testifying (Re: situation that brought about the bill)

https://www.youtube.com/watch?v=81CLyeFODDE

Post: Apartment Association of Greater Los Angeles - NO VOTE on AB 2819

Francis A.Posted
  • Los Angeles, CA
  • Posts 352
  • Votes 142

I received an interesting email from the AAGLA. Here's the gist of it.

----------------------------------------------------------------------------------------------------------------------

TAKE ACTION NOW!

AAGLA Needs Your Help in Defeating

AB 2819,

a Bill that Hides a Tenant's Bad Behavior

from Property Owners

AB 2819 Bars Access of Owners to Critical Information

About Past Residencies, Failure to Pay Rent.


Tell your legislator to VOTE NO on

AB 2819.

AB 2819 (Chiu) is another measure that ties the hands of rental property owners when a resident doesn't pay his or her rent.

Indeed, AB 2819 intends to do one thing:

hide non-payment of rent from the next property owner.

Other than to promote more bad behavior

there's no reason for this bill.

Call your legislator and ask for a NO VOTE on AB 2819.


(Below is a list of phone numbers for

Members of the Assembly representing the Southland)

http://findyourrep.legislature.ca.gov

----------------------------------------------------------------------------------------------------------------------

Why we are OPPOSED to AB 2819 and request a NO VOTE:

Under California's unlawful detainer (UD) "masking" law," UD court filings are hidden from public view for 60 days following the initial court filing, and then are unmasked. If during this period the tenant prevails, the filing is permanently masked.

AB 2819 will permanently mask all UD actions, unless the rental property owner obtains a judgment in court within 60-days. The bill unfairly places on property owners ALL costs, burdens, and responsibilities for ensuring public notice of tenant defaults.

Among the reasons to oppose:

AB 2819 will unfairly keep a majority of all UD actions hidden from public view. Most property owners who get possession of their properties before a UD proceeding concludes do not go back to court for a judgment. There is no incentive to do so. They've already lost months of rent, and they've paid court and attorney fees to file the UD action. The last thing they should be required to do is pay more court and attorney fees to get a judgment. Because judgments will not be sought, thousands upon thousands of rent default records will remain hidden from public view.

Property owners are already burdened by the fact that they have not received rent, they will likely never receive any rent, and they have to pay for substantial attorney and court costs to bring an eviction action. Once they finally get possession, they have no incentive to pay their attorney to go back to court to get a judgment. And they shouldn't be required to do so. Legislation should instead focus on making it easier for tenants to correct their records if any mistakes occur.

Like mortgage defaults, and other debt obligations, non-payment of rent is a civil matter of public record and concern. Whether it's a mortgage, credit or loan, default histories are paramount. Non-payment defaults, including non-judicial foreclosure actions, are always made public without the need for a legal judgment. Non-payment of rent should be treated no differently. Property owners to be fully apprised of a prospective tenants fiscal responsibility use a tenants credit history.

AB 2819 is contrary to California's open records and public access policies. When California's masking law first went into effect in 1991, this legislature stated, "[i] it is the policy of the State of California to promote open access to public records. It is in the interest of the public to assure, to the greatest extent possible, that there is open public access to court records, including civil case files. (See SB 892, statutes of 1991, Legislative Counsel Digest.)

Requiring property owners to obtain a judgment in order to unmask a UD proceeding only serves to promote more delays and frivolous claims. UDs are supposed to be expeditious proceedings, and one of the few policies that encourage resolution is the masking law. Because proceedings become unmasked at the 60-day mark, parties are encouraged to settle or complete trial within that period. This bill removes the incentive to settle quickly, while encouraging the practice of lodging baseless and meritless claims to further delay proceedings.

Property owners have the right to know whether a prospective tenant is a serial rent defaulter or vexatious litigant. AB 2819 unfairly keeps rental property owners in the dark and from knowing the truth about prospective tenants.