All Forum Posts by: Pete Kay

Hi All,

I’m selling stocks (selling around $500k , around 50% of it is long term gain) to invest in a property. I’m already in high tax bracket ($350k income) . I’m selling mostly long term capital gains but I need to pay 20% on long term cap federal and 13% California effective 33% on my cap gains. Are you aware of any tax strategy in this situation? My CPA sucks , CPA recommendation is appreciated 

Hi All,

I’m selling stocks (selling around $500k , around 50% of it is long term gain) to invest in a property. I’m already in high tax bracket ($350k income) . I’m selling mostly long term capital gains but I need to pay 20% on long term cap federal and 13% California effective 33% on my cap gains. Are you aware of any tax strategy in this situation? My CPA sucks , CPA recommendation is appreciated 

Also does anyone have experience with "Substantial rehabilitation" eviction in SF?

Folks,

I'm buying a property in San Francisco which is in horrible shape and requires substantial repairs. I like to evict current tenants (as they destroyed the property already ). During eviction notice is landlord responsible for repairs? Nothing basically works in current property and I would like to evict people so we can start working on it. Our eviction option is probably Ellis act which will take a year! During this year can they sue new owner (me) for damages in the property ?
Am I responsible for items mentioned here:  https://www.sftu.org/repairs/

Hi folks ,

Please guide me for the best eviction strategy. I am a first time buyer and currently I am renting myself but I found a good deal in SF but of course with some caveats:
3 units / 3 eviction (3 units, 2 claiming protected status ( while we know elderly people were moved to these units recently its hard to prove it in court)

3 new recent owners, one owner(myself)  intend to move in , another owners mother might want to move in (not sure in reality if that can happen)

building and units are in horrible shape and requires major work, Might be eligible for eviction based on Substantial Rehabilitation not sure what's required for this

Current condition might be even safety and health issues for current tenants. The property is damaged significantly by tenants and previous owner negligence .Maintenance has been neglected over years 

In one unit tenants claimed 10 people in Estoppel certificate and in section 2 of Estoppel they claim: a)no occupancy limit / no household limit b)can sublease c)can have roommates so basically they are renting units themselves

If you have any experience on this please help or contact me