All Forum Posts by: Peter Mckernan

Mysmartmove.com works pretty well! I have used it before on one rental, which went smoothly. 

I would take a look into some parts of Yucaipa, Highland, and I would say Redlands; however, the parts you would look for a house in Redlands at that price wouldn't be good areas. I can kinda give you some more insight if you send me a PM. 

@Shane W. 

@Grace T. 

Welcome to BP! I'm in SoCal as well and it's good to see more people jumping on BP in the local area! I wish you luck! 

Peter

Welcome to BP Ryan! You came to the right place to learn!! 

@Account Closed 

Welcome to the site and I'm sure you'll find what you're looking for here at BP! I also could not resist from welcoming you since I saw you're from Cedar Rapids, and there is a movie that came out named Cedar Rapids. The movie is pretty awesome! 

Have a good day! 

@Lakshman V. 

Thank you sir! Hope it goes smoothly! I wish you luck on your endeavors and I'll be seeing you around on the site! 

Peter

@Lakshman V.  Welcome to BP! I'm in the SoCal area too! I hope you have a good time on the site and let me know if you need something since we're both so close! 

That's what I have read too. I just wanted to get the correct facts and make sure my practices were congruent with the law. From what I have found and you both confirmed, interest on security deposits are only city based! Thank you for responding!  

@Account Closed 

I initially was looking for a primary residence to buy with a friend in Orange County, Ca. Once we started looking we realized that if we moved out and went our separate ways, but kept the unit as a rental that we would have been close to negative in cash-flow. 

I randomly came upon the BP Podcast and heard some people taking about buy and holding rental property, so I pitched the idea to my friend that was going in on the primary residence with me. We switched gears and started looking for rental property in the town we both grew up (that gave us local knowledge). 

Once we started looking in our hometown, it took about 2-3 months; however, the total from looking for the primary to switching gears was about 8 months. We bought the rental May 2013, and we have good positive cash-flow and a good tenant.

Hey @Michaela G. 

I wanted to see where you found that information? I looked in the book I have and also looked throughout the internet, but never found anything that stated the landlord needed to pay the tenant interest on a security deposit. I want to make sure I'm doing the right thing with my tenant that is why I ask.

Thanks!