All Forum Posts by: Ricardo P.

Ladies and Gentlemen, 

I have a landlord friend of mine that lives down the street and is getting roasted due to covid 19 and a tenant who hasn't paid rent since February 2020. He lives in a small 4plex apartment in which he occupies one unit with his wife and kids.(3bed house) He's been living there for 4years and planing on selling and buying a SFH. 3 units will be delivered vacant at the close of escrow. Tenant who hasn't paid will be the only to stay in the property. Can he use a 1031 exchange? Or 121 exclusion?? Or maybe both?? Let's say he rather just sell his property out flat how much tax is he looking to pay when he sells? 20% or is it 25%?? I understand if you file single your exempted up to 250k tax free on your primary residence but I'm not sure if this applies to multi unit property.
Sadly he’s looking into walking away from this business due to the rules and regulations California has set during covid 19. What other way can he be able to sell and buy his home? Any help would be appreciated. He’s an older dude paying the mortgage on his own. I’ve been trying to help landlords around my area in any way possible. Specially when tenants are taking advantage of this situation 
      

I just hope this doesn’t get extended past the January time frame. 

Has your property manager tried to file paperwork with the courts? Or are you just waiting for their notice to leave expire?

@David To I don’t think you can. California has a no Just cause eviction. It was passed I think in early 2020 or 2019. From my understanding courts aren’t taking ANY NEW eviction cases. I believe they only agreed to resume the cases they had pending before the pandemic when the courts shut down due to covid. 

Well from my understanding the judicial council dropped their eviction moratorium. I think that was screwing landlords 

I’m 100% sure this eviction protection isn’t going to end in January 2021. I’m sure it’s going to last throughout 2021. Like does it really take Over year to find a job? 

@Debbie Farmer so since this law started in September and it goes through Jan 31. And their rent comes out to $5000 (For 5months)  r they supposed to pay 25% out of that $5,000?

=$1250 🤔

@David To Well on the bright side of this new law that just passed is that tenants need to pay atleast 25% of their rent in order to be protected from eviction. Are you thinking of filing when oct comes around? If so let us know how it goes. 

@David To did you end up filing paperwork with the courts about your case? My neighbor down the street told me the court wouldn’t take his paperwork due to the city and state eviction moratoriums. They told him that the judicial council lifted their ban to only process pre-pandemic cases from Jan,Feb and March. 

What about pre-covid cases/evictions?? 

There’s no way a tenant can sign a paper stating he can’t pay due to covid when he hasn’t paid since January