Interview with California Investor & Landlord: Michael Zuber

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In this interview with Michael Zuber, a buy and hold investor who is based in San Francisco, but focused in the Fresno and Madera areas of California, we gain some great insight into the mindset of an experienced landlord. Michael shares his 10 years of experience and covers topics including the importance of having a strong, supportive partnership with your spouse/partner, why you should buy green houses, 1031 exchanges, and much more.

You can also find out more about Michael at his website, Wealthbuildingpro.

Edit: I was informed by Jeff Brown of some info that both Michael and I missed in our discussion about 1031 exchange. He was kind enough to provide the following info for us to share:

Delayed exchange rules in part:

Once you close escrow on property you’re relinquishing, the following rules apply as it relates to time periods. All time clocks begin at closing of the relinquished property escrow. (The relinquished property is the one you’re tradin’ out of.)

1 – Must ‘identify’ property(s) to be acquired, often called ‘uplegs’, within 45 days. Your intermediary will have the proper forms, etc.
2 – Must close property within 180 days. IRS counts holidays, weekends as days.

WARNING: If you close your ‘relinquished’ property such that April 15th, tax filing day, comes before your 180 days are up — you MUST close on 4/15 or sooner. There’s an out though, so don’t have the heart attack I almost did almost 20 years ago when I personally ran into this. It’s solved by simply filing a timely extension. Once you’ve filed your on time extension, you may go ahead and close after 4/15, but on or before the original 180th day as originally planned.

Got any thoughts or questions? Please leave them below.

About Author

Joshua Dorkin

Joshua Dorkin (@jrdorkin, Google+) founded BiggerPockets.com when he saw a need for free, trustworthy information about real estate investing online. Over the past 12 years, Josh has grown the site from self-funded hobby to full-time job and passion. Today, BiggerPockets brings together over 600,000 members, housing the world’s largest library of real estate content, iTunes’ #1 real estate podcast, and an array of analysis tools, all geared toward helping users succeed.

19 Comments

  1. Funny, just lately I was talking to a friend and describing SFRs as little green houses and multis as red hotels. We get to play a fun board game for decades! Thanks for sharing, Michael.

    Josh, I love these video interviews.

  2. Good interview, and Thanks for telling the newbies it’s not just work, but an obsession! My 20th year in multifamily. Here’s my tip for fast removal of suspicious or potentially “wanted” occupants or tenants: Don’t inquire or play your hand too quickly, call them in a couple days and reveal as an FYI that you just received an inquiry from Detective or Agent So & So, (some law enforcement officer, a detective, sheriff, FBI, Secret Service, ATF, DEA- whatever seems appropriate), about the occupants of their apartment. My “questionable” occupants vacated their apartments almost immediately, in one case, had a U-Haul and most of the contents out in less than an hour, leaving behind 2 teenagers, who weren’t home at the time I delivered the news by phone! They asked my resident manager to tell them to go to “Sal’s”. The other tenant left overnight. That was the end of it! Both times no damage, no revenge or attitude, just gratitude in one case, and they had only been there 3 weeks. Technically, it takes two weeks until abandonment here, yet in the situation above, I had no problem changing the locks immediately and advertising the vacancy the next day! Never heard from either again.

  3. Ha! Nice tactic, Mary. I had a similar situation when the son and friends of a vacated tenant were squatting. I showed up with the locksmith and announced that “I know you have warrants and I’m dialing 911 if you’re not out in an hour.” It took a bit longer than that, but they skidaddled.

  4. Great interview and thanks for all your efforts to help us newbies!

    Michael’s Aqusition Reports are really interesting to read through too – very educational in a post mortum kind of way – thank you Michael too

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