All Forum Posts by: Tim Grich
Tim Grich has started 5 posts and replied 21 times.
Post: Does getting a Real Estate License and becoming a Realtor provide any edge?

- Investor
- Posts 23
- Votes 8
Taxes- qualifying as an active real estate professional will allow for more write offs.
Post: Looking for South Bay LA CPA recommendations

- Investor
- Posts 23
- Votes 8
Thank you.
Post: Attorney to help draft a rental agreement

- Investor
- Posts 23
- Votes 8
Post: Do you provide fridge for you Rentals?

- Investor
- Posts 23
- Votes 8
New twist on the question now that there have been many replies....
For those of you who do provide a fridge/appliances, do you include or not include a clause in the lease specifying that the tenants is responsible for the repair of said appliances?
Post: Inflation and the future rent increases in Los Angeles

- Investor
- Posts 23
- Votes 8
Quote from @Omid Sadeghpour:
Hello everyone,
I own 6 rental units in the city of Los Angeles and am new to this "rent freeze" topic.
Given that Los Angeles is rent-controlled, does anyone know the following:
Once the rent freeze is removed, will the city allow landlords to also increase past years (i.e.: 2020, 2021, 2022...) in which rent was not increased in an amortized manner given the rate of inflation?
Meaning, worst-case scenario is that inflation in 2023 is 3% and we as landlords can only increase rents by 8%. Ideally, we should be able to increase rents by 8%, and another extra 2.5% for the next 10 years. How do I get that extra 1%? Because the rent increase from 2020, 2021, 2022 should be at least 15% plus the inflation of those years which is about 10% cumulatively.
So 25% / 10 years is 2.5%. This is really bad math, but in essence... does anyone know if we are going to have that?
I'm not sure I follow your math, but the likelihood of the City of LA allowing you to impose retroactive increases to "catch up" is slim to none. It would also take a legislative act by the State to allow for more than the current allowed 5% plus CPI.
Post: Closed: 4 Unit Building Off Market Using VA Home Loan

- Investor
- Posts 23
- Votes 8
Post: Closed: 4 Unit Building Off Market Using VA Home Loan

- Investor
- Posts 23
- Votes 8
Congrats Erik!
Post: Evicting Based On Remodel

- Investor
- Posts 23
- Votes 8
I have not heard of any specific dollar amounts spent on the rehab to qualify it as substantial. The only thing I have seen is the number of days it will take to rehab, which in most cases is 30. Long Beach is changing theirs to 60 days.
Post: Evicting Based On Remodel

- Investor
- Posts 23
- Votes 8
Join the apartment association as they'll have the latest on things like this. As of right now, LA County has extended their eviction moratorium for renovations until Jan 31st (can't post the notice to vacate until 2/1). LA City has been ever harsher on COVID related stuff and I heard that there's no certain end date for LA City as of right now. Still recommend you verify.
Post: landlord insurance companies

- Investor
- Posts 23
- Votes 8
I can recommend Julie Balla at Knauf-Maxwell Insurance Services. They are brokers, so have access to many carriers. 323-550-7900, tell her I referred you.