All Forum Posts by: Gary F.

Sounds about right for SJ but Palo Alto would be much higher. With RE prices in Palo Alto at over 2M for a small 1200sf SFR residence rents are commensurate as well

I just signed up. Coolness!!

And the “should be reinforced “ is not a good sign at all. You could get an estimate and go from there if it’s really worth it to you. But foundation issues are never good. And that’s just what one inspector and one inspection revealed. Foundation issues are like cancers. Where one problem lies there could be more. Especially with the weight of a house on it and much of it unable to be seen.

It all depends on how much rent vs expenses are. I’m cash flowing by renting out rooms in my house. Plus at the end of the year I’ll get tax write offs as the house now becomes an investment vs a liability

LVP is also easier to install. Some shorter pieces can be just scored with a knife and snapped off. Saves time going back and forth to the saw and saves costs on blades (which are expensive at $30-$50 each). Lumber liquidators has a decent selection and good prices

Are the SFRs rentals? In my understanding you can only do a 1031 from one investment property to another of “like kind” which the MFR is. And if the SFR was your primary residence then you can exchange for a percentage of the property.

Hi jay Thanks for the update. I’m in a similar situation. Im trying to work with an elderly man, original owner of a house in the shambles but in a very hot market. My problem is he’s likely to have mental health issues so I need to cover all the legal bases before putting any time or money into it. I certainly don’t want his long lost distant relatives coming out of the shadows or any claim of elder abuse. And of course I don’t want to take advantage of him either. But if no one helps him he’ll lose everything and end up being evicted by the sheriffs and become a ward of the state.

So how’s it going on your deal?

@cl hwang. Thanks for the update. Riverside? I guess things are growing everywhere. I never thought of that area as RE investment. Tell me more

Unless you in an upscale area and close to a big business hub and transportation $1200 is high. If it’s a master bedroom with a private bathroom then maybe you could get that. Or included garage parking. Vacancy factor is based more on how choosy you are. Since it’ll be your shared private living space too I’d think you want to be even more selective than if you’re just renting out apartments where you don’t share areas.