Tenancy Deposit Claims

 The California Real Estate Market is quite the roller coaster.  In the 70's it was flat, in the 80's it spiked, in the 90's it fell, in the earlier half of this decade it shot through the roof, and now it appears flat again.  This up and down performance has many analysts, investors and economists scratching their head, and postulating about what the upcoming year will do for California real estate.  All the advice of which is for not, because no one truly knows.  However California isn't as hard to read as all of that. First understand the history. In the 70's real estate was flat because interest rates were extremely high. In the 80's huge investment in technology and aerospace brought lots of jobs to California In the 80's the interest rates came way down as well. In the 90's aerospace jobs and tech jobs hit a wall, and left California In the late 90's tech investment again surged In early 2000 the interest rates came further down In mid 2

 Hey everybody, Who out these uses a CPA that specializes in working with real estate investors? Let me know. I am really curious. I have been to a lot of seminars where they have spoke, but they seem to be very expensive. This goes double for the ones I have met in the Bay area. For those of you that have used one, have you seen a big reduction in your taxes? I am really needing to know, as I had a regular accountant in Houston do my taxes and I owe big time and I felt like I should have had tons of deductions. He said it was because they are not in LLCs and that if they are in LLCs I would save a lot on my taxes. Thoughts? Chip Ahlswede wrote: LLC's can save you a bunch, and are worth looking into as part of your program. However the real benefit to a real estate accountant is the potential for business development. A real estate accountant knows about the holdings, tax basis, and financial structure of many clients. Although it is illegal for him to share

 One of my colleagues recently had to evict a tenant.  The tenant stopped paying the rent, waited for the full proper service of notices to vacate (this took almost 2 months), and they encountered more problems than they had ever hoped they would.  This is the kind of scenario that almost every rental housing investor has encountered.  The kind that makes investors sell and never be landlords again. However it is also an opportunity to learn from common mistakes, and figure out how to better your system next time. Problem 1 - They didn't run a credit check.  In case you missed this post on tenant screening, go back and re read it.  Not knowing your tenants will hurt you in the long run (as evidenced here). Problem 2 - Didn't follow up with the tenant.  This tenant brought in a dog.  This was a clear violation of the lease agreement, but since the owners weren't checking up on the property, they never knew.  A good landlord, and a good property management company will do the

 Let the creative selling begin! A friend of mine forwarded me the following email requesting my opinion:   Hullo everyone!   I just received several newly built properties that a builder is trying to liquidate in Surprise (about 10 here) and Queen Creek (2 left here), AZ.  They range in price from £284,000 (1393sf) to £360,000 (1987sf).  I'm closing on one in Surprise next week and the Queen Creek by end of November.   The Downside:  The properties are not priced below market value.   The Upside:  Zero down is possible (depending upon credit approval) (£3000 in earnest money required)   The BIG UPSIDE:  The builder will put £50,000 into a separate escrow account and pay your mortgage till the £50,000 runs out. (£6000 of it goes towards closing costs).  First come, first serve!   What you can do:  Get a property manager to manage and fill the property for at least half of your loan (preferably more); save your cashflow; when the £50,000 runs out use your saved cashflow to continue

 Renting property is more than just a business, you are providing a home to someone, potentially someone's family.  More often than not pets are a part of a family, and not ones that are easily let go. As a landlord regulating pets may not seem like a big deal, but cleaning up after a renter who had a pet can be.  The key to making the arrangement work is being clear about your expectations, desires and rules up front.  Furthermore make sure that your rules are included in your rental agreement. Use this guideline as a way to understand your rights as a landlord, and the responsibilities you should expect of a tenant. Pets Yes or No? You can't just make a blanket statement that you will not allow pets.  First the Americans with Disabilities Act allows for handicap assistance animals.  Second, elderly rights groups have lobbied, in some states successfully, that the elderly should have rights to animals for safety reasons.  Third, so many people have pets that you ar

  Have you ever had a conversation with an estate agent or property professional and been bowled over by the use of property jargon terms? Fear not friends, we’ll go through the most used terms so you too can create shock and awe and sound like a real estate guru in your own property circles. Vendor – The individual selling his/her property. The “applicant” – The individual purchasing the property. Sole agent – The only agent selling a property. Chain free – An individual selling a property who does not need to find a property after selling their property. AIP   (Agreement In Principle) – A lenders letter proving you have a loan agreed to purchase a property. Offer   – Official letter from the lender proving you have a loan to purchase the property. Conveyancing – The transfer of legal documents from one person to another when purchasing a property. EPC (Energy Performance Certificate) – A certificate showing how energy efficient a property is. Subject to contract