All Forum Posts by: Jessica Yau

Hi BP community,

We are in escrow to purchase a duplex with an existing Clear Channel billboard. The seller is a Trustee and the owner was incapacitated for several years and passed away this Spring. The original billboard lease was signed in 1993 for $100 per month. Way below current market and has been auto renewing with no notices. The last auto renewal was in 2023. The trustee discovered uncashed checks going back 3 years. Some additional uncashed checks going back to 2013 were escheated to the State. I am looking for a real estate attorney who can review this with me and hopefully arm me with some concrete arguments for why the existing lease is/should be voided so that we can sign a new lease. Property and lease are in CA.

We own a farm property (5 acre rose farm) with an existing AirB&B cottage in Sonoma County CA. The property also earns rental income from hosting weddings and other events. We have a beautiful 3,300 sq ft Carriage House barn that is very underutilized. I have design plans to convert it to a 4-5 bedroom vacation rental/B&B but financing is a complex problem and I wonder if the juice is worth the squeeze. 

We have invested heavily the last 5 years in renovations of the existing gardens, AirB&B cottage, and structures for the event business. As of 2022 we have completed all the major deferred maintenance for the rest of the property and operating costs have stabilized (2022 loss was $12k on $165k revenue). We have over $1m in equity in this property (purchased at $2m / currently valued $2.6-$3.2m / with a $700k mortgage). The renovation would likely cost ~$1m and add an additional $100-$125k in annual revenue. I think realistically stabilized cash flow with the additional rooms would be ~$70k ($250 revenue - $180k total expense).

Wondering what the group thinks as far as 1) is it worth pursuing 2) how could I finance a $1m renovation with 5 years of losses under my belt?

Here is a link to our existing AirB&B: https://www.airbnb.com/rooms/1...

Its a rose ranch with a single family home and 3 rental units. It's also used as an event space for weddings. So there are 3 revenue streams: roses, rental income, events income. It's not being run well right now and needs a lot of time and investment to bring it back to its full potential. At its full potential it will not be a cash cow, but is a lifestyle and hobby and will make some money. 

Am very drawn to a new asset class, different lifestyle. Don't mind if I don't make a ton of money, but don't want to lose any of the gains we have made. Anyone make the jump from a reasonably safe investment with good return to a high risk one like a ranch or winery? Would love to hear from anyone with an experience to share, advice, or just thoughts to share. 

Closed Dec 31, 2014

Yes, damage during the most recent earthquake.

I received a letter saying they want to go to arbitration with the assertion that I had not disclosed material information. In the meantime they want me to file a claim with my insurance carrier when I owned the building for the recent damages

Subject property is in Oakland and need representation from an attorney specializing in contracts and litigation. Sold a property less than a year ago that suffered damages in the most recent earthquake. Buyer wants me to file a claim with my insurance and God knows what else...

Any recommendations for attorneys, thoughts or ideas? 

Sorry for the lack of details but obviously don't want to go into too much detail at this stage about the specifics on a public forum.

Thanks Ron!

I manage a property for a client. The tenant is a law firm and is asking me for a W9. Their rent payments are addressed to my company and then I forward to my client after deducting management fees but the lease is under the client's name. Is the tenant correctly asking me (management company) for the W9 or should it be the landlord?

Hello, I'm interested in making an offer on a multi family in McMinnville, OR and would like to discuss cooperating with a buyers agent. I'm an out of state broker/investor representing myself and another investor. Any recommendations for someone with strong local knowledge and negotiating skills ?

@J. Martin, nothing has been set in stone yet. Oakland prices are high right now and CAPs are low so the economics are so-so but there are two parcels and a few are SFRs. I want to see if there is an opportunity to split them up. We are a few weeks away from closing on our sale so I need exchange properties! I'm also looking at Napa area. Prices are really low there right now. More so for SFRs than multi-family. Regarding the above, the listing agent told me he sold a few other places for this same seller in the last few months and they all had similar liens but would be clear before closing. I get back to town tomorrow. Are there any holiday meetup's coming up?