Christian, thanks again for another great video. After watching this video, I don’t think I will buy another investment property in the state of California. Tenants have WAY too many rights. Mom and pop landlords will be obsolete soon due to the lawmakers in Sacramento. Anyways, my comment was with the first section of the video. Buying attached condos, usually most condos are attached. Very few detached condos are available, and are almost expensive as a SFH. I agree. Single family homes are better investments, but the numbers just don’t work out, especially with the increases in premium insurance rates……out of control! I guess this topic would be set aside for another video.
this is a great list! properties with pools is another thing i would add, but it's probably too specific to be it's own list item. the ongoing expense sfor maintenance, the electricity/water consumption, and insurance liabilities definitely complicate things to the point where it may not be worth it.
Thanks! Yes, that's a good one to add...all else being equal go without the pool. The utility fees can be passed onto the renter, but maintenance should really be paid by the owner to make sure it's done right, plus insurance will be higher.
@@WIREassociates i agree with the maintenance fees, but the energy costs have big spikes because of having the run the pool pump for so long. that may upset some renters and cause them to do silly things. also the liabilities get tricky if there's an accidental drowning/death on the property. ive heard of strategies to have the property in an LLC so that if that situation ever does arise, the owners assets won't be at risk. I'm not a lawyer, but the sheer thought of it makes me not want the headache and almost prefer to fill the pool with dirt before i rent it out.
Include buildngs over 80 years old; include buildings with asbestos of cracked plaster; include buildings in which the structure is not up to building codes, like broken soil pipe or room additions thar do not make code; cannot obtain mortgage financing on these buildings, cash only payment and a lot of repair work.
How about ADUs? Would those be considered illegal/legal nonconforming use? And does In-Law units have to be separate from the main house to be considered nonconforming use? Also, I was under the impression that manufactured homes/trailer homes would be in the Dont Buy List. Is this still true?
