All Forum Posts by: Negar P.
Negar P. has started 8 posts and replied 26 times.
Post: California Rent Control
- Posts 26
- Votes 4
Originally posted by @Mike Franco:
Originally posted by @Diane G.:
SFH is NOT exempt unless you are living in it and are renting out rooms, from what I read.....
Diane, I got tripped up on that as well, but item (8) says if your unit is alienable, under a separate deed, able to be sold separately, not controlled by a corporation/reit, it is exempt.
In contrast, apartment complexes owned by one owner, where units can't be separately sold, are not exempt.
Originally posted by @Edit B.:
@Eric G. Builders rolled over this because there is a provision which excludes new construction for the 1st 15 years. This was designed specifically to not impact them in the near term.
Builders are completely safe. New construction is untouched, and the bill expires in 2030, which is a mere decade from now.
I am a bit confused on this too... So if there is a townhouse with 4 bedrooms where 2 of the bedrooms have their own separate entrances, their own bathrooms and little kitchens, and this house is rented to 3 separate tenants (1 in the main house and 1 in each of the separate bedrooms) would this new bill apply to this townhouse?
Thank you all for your responses
@Laura Williams great ideas! We have actually been thinking about renting out a room and saving the rent towards an investment property, but hadn't think of Airbnb!
@Brent Shields can you please explain this strategy a little bit more?
If you hold the extra money and apply it to the buyer's down payment, how are you making more profit? Since it seems like you are giving back the excess money
Thank you all for your responses.
Hi all,
My husband and I are newbies in investing. Have been reading books and listening to podcasts to educate ourselves before making an investment. However, meanwhile I am having a dilemma! The more I read the more I understand that our primary residence purchase in 2017 was a huge mistake!
We live in Orange County in Southern California... Based on my calculations, our house has a negative cashflow of $800 and looking into its 10-year forecast it will continue to have high negative cashflow. It is also not wise to sell the house at this point because the proceedings will be way less than our initial down payment (20%)
Any ideas how to make this situation less financially hindering?
I really appreciate any help on this.
Thank you all