Video instructions and help with filling out and completing residential lease for single family home or duplex editable

Instructions and Help about residential lease for single family home or duplex editable

Either bigger pockets it's math Faircloth are doing another video blog for you guys because I want to talk to you about this role of apartment buildings that we own for today anyway because we're selling them today today is a day of closing I'm actually leaving this site right now to drive to closing after this but before we left I wanted to tell you a few stories about this deal and some lessons I learned and hope to hopefully I can convey that to you too so here's how this apartment complex came about when my wife girlfriend at the time I and I both lived in Philadelphia we started real estate investing while we were dating we bought a duplex and we bought it put tenants in had made repairs to it and increase the value to the point where it was worth a good bit more than we had bought it for and then we got married and very quickly learned that it kind of stings self-managing a unit that's really far away when we got married we moved to New Jersey about an hour or so away from that duplex so very quickly we learned we got to sell this thing because we just move too far away from it to have to run down there and do showings if any maintenance issues come up or whatever she's too far away for us to self-manage so we sold it and we had a nice spread of value in there so we did a 1031 exchange for those of you they don't know what a 1031 exchanges briefly it's something where you take the proceeds of a sale and instead of having to instead of putting those proceeds in your pocket and having to pay tax on that which can be significant amount of tax you've rolled it into another project there's a lot of rules and regulations around it and there is a ton of stuff on BiggerPockets about 1031 exchanges so look that up if you want to learn more we did a 1031 into these two buildings this is 350 and then 350 to Concord Avenue we bought these two buildings with a 1031 exchange some more of our own equity and obviously a mortgage that went into it as well just these two so this is a four unit and a four unit is what is what these are so for about a year we own these buildings they did well we were happy we got a call from a building owner across the street and 359 Concord and they said hey we see that you bought those buildings would you like to buy ours too and we said absolutely so we bought that one as well structured some things with another investor that came in with us and thing on it and we put that deal together and closed that one the rents were low we increase rents we did


How hard is it to get a duplex or set of apartments rezoned to a single family home in San Francisco?
I don't live in San Francisco and never have, but I had a similar question concerning a property we were looking at buying and renovating in Laguna Beach, CA.My wife and I found a "duplex" (a front and rear unit) on a slightly hilly street in a quiet family neighborhood that was the 4th house 'up' the hill from the sand. The beach is public but because their is no public parking available anywhere near the beach it is essentially a quiet and private beach.The view to Catalina and San Clemente Islands and the coastline from these two 'units' is/was indescribable. The problem we ran into and one you might also be facing is that because the permits on file with the City are for a two unit multi family structure we couldn't 'convert and improve' the structure to meet our intended use.The two units were connected but not accessible through the connection. And since we had two kids (then young teens) and the larger rear unit was a two bedroom and the smaller front unit was a one bedroom we needed to be able to have the units connect through an interior connection. In addition we need to add more living room towards the front of the property which there was land and room to do. With the configuration of the units (they physically connected only at the 'corners") the hilly nature of the land, the lack of land,  and city ordinances forbidding the building of an interior connection we couldn't make the structure work unless we converted it into a single family use.This too presented its own problems. We could technically convert the use from multi family to single family but the cost was exorbitant. I don't remember the exact numbers as this is going back seven (7) or so years but if memory serves me right the total cost for the conversion to meet all of the requirements was somewhere in the neighborhood of $300k+-.In our specific circumstances the cost didn't justify the results. The "two units" were priced a hair under $2MM making each unit ridiculously priced from a multi family marketplace perspective. The property would never pencil based on the price and its current permitting of multi family. The property was 50+ years old and while no immediate work was required it was outdated and needed a major refurbishment. This work would have added several hundreds of thousands to the total property cost.We ultimately determined the property didn't justify the price for its current use and if we converted it to a single residence with all of the costs associated with the conversion, refurbishment, and other items we would be into the property for $750k+- over what we could buy a nearby beach home and about $750k+- less than what it would cost to buy a small beach front residence in Laguna Beach, CA.
How many have filled out an I-864 to sponsor an immigrant or opened their home to a refugee family?
It's an affidavit for support you can get it on line Homepage forms it's 10 pages. Get two or three or copy it in case you make a mistake.
How do I find a land to buy in Canada to for building a single family home or/and multi-family building?
You don’t say whether you are in Canada or not.The easiest thing to do is, once you know the general area you wish to live in, go to Realtor (DOT)ca and see what is available.Then ask the realtor with the listing to show it to you. If you have good chemistry with them, ask them to work with you to any others in the area. The realtor will probably also be able to recommend some good builders.Sometimes you can find a building lot that come with a house package. The lot next to us was listed like that for a while.
How can the mice in residential homes be trained to poop outside or in a small litter box left out for them?
Rodents typically “go” as they go, i.e. as they walk around, urine and feces are dropped along the way. Their tails generally leave a trail of urine as the critter moves around your house. Being non-sentient creatures, they have no control over their digestive system. Therefore, they cannot understand the concept of pooping in a box, much less on command!
How do I fill out the online application for a tourist visa to Canada for a family, one account and two applications or two accounts for two applications?
One account for all applicants is adequate assuming others are close family members. if they are not related in any way, ask them to create separate account and apply on their own. You can keep yourself as primary applicant and add family members as secondary. Just follow instructions on the website- very simpleApplication for Visitor Visa (Temporary Resident Visa - TRV)
How can I survive in the Bay Area with $400k family income? Even with this kind of salary we are unable to buy a single family home in Cupertino. We want Cupertino’s good schools and shorter commute. Any suggestions for investments or business?
The brutal, complete answer: don't procreate. Sure, you may be the smart, thoughtful sort of person that humanity absolutely needs in its gene pool, but Silicon Valley doesn't want you in its gene pool: you don't make enough to own a house in a top school district. It's sending you a clear economic signal. So, you have two options.The first is to leave Silicon Valley. It's expensive, exclusive, obsessed with power and success with no concern for how they are achieved, and an utterly terrible place to raise children-- unless you want your kids to be the sort who bawl when you give them, as a 16th birthday present, a car that's "only" $35,000, because the doors "open like this instead of this". Unless you have no hope of getting a comparable income (say, $250,000 or up, considering cost of living) in Boulder, Chicago, Austin, Seattle, Boston, or New York... (ok, New York probably requires more than $300k to raise a family) I don't know why you would stay there. The Bay Area's fine when you're 22 and need to establish yourself, because the benefits of being in Corporate HQ if you work at, say, Google or Apple, are pretty massive. If you haven't made fuck-you money (so you can say "fuck you" to all the insufferable people in Silicon Valley, and even if they have more power and wealth than you, it doesn't matter because you have enough) by child-raising age, I don't know why you're still there. It's not a mark of failure to leave Silicon Valley. (Hey, I know plenty of really smart people and, statistically, most of them will never get anywhere close to $400,000.) It's a mark of good judgment. San Francisco is just OK, and the rest of the Valley is an overrated, unattractive suburban tract. Sure, the Bay Area has an incredible 3-hour-drive radius... Napa Valley, Big Sur, Yosemite... but, let's be honest, it takes a vacation to really enjoy a place like that and, if you lived elsewhere, the money saved on not paying Bay Area housing costs would easily cover airfare and hotels, anywhere you want to go. The second option, which is underrated, is not to have children. Suddenly, you don't have to own a house: renting's just fine. You want to own once you have kids, because it's good for their self-esteem to see their parents as owners rather than renters, but adults know that the difference between renting a place, and renting money to eventually buy it, comes down to mortgage rates and taxes at the time and isn't a mark of personal value. You don't actually become a different person when you're paying a mortgage instead of a rent check. If you're childless, school districts and private schools aren't on your radar, and you couldn't give a square root of a fuck about Stanford or Harvard's opaque and fluctuating admissions standards. Even in the Bay Area or New York, a childless couple can live pretty well on $400k per year. You can even (imagine this) save up money, go somewhere else, and retire. You can get a beautiful house in the woods of Pennsylvania for under $200,000. Or, if you don't like winter, you can go to Costa Rica or Mexico. You seem not to be having trouble "surviving" but with corralling the means to ensure a decent life for your children. The economic signal that our society sends is that it doesn't need or want more children. If it did, it wouldn't cost so much to set them up for a half-decent place in society. And, paradoxically, smart kids are far more costly than average kids. (An average, 100 IQ, person will be happy with an average-plus job and a middle-income standard of living. If you pop out a 150+, you need a fucking fist on the scale to get her an ability-appropriate job/position in society because she has to compete with all the smiling, drooling dumbasses who think they're what she actually is, and who have better connections and more family wealth.) The message is painful to read but clear. Society doesn't desire more children, and it certainly doesn't perceive a need for more smart children. There are too many people running around who think they are what someone like me actually is, and who have the connections to get the positions, and too few who can tell the difference.Let's say that you already have children or decide to have kids for subjective or spiritual reasons. That's fine. Nothing wrong with that. I haven't had any children, so I can't possibly evaluate the subjective benefits of having one. (I do love cats and dogs, though.) Then you have to step back and realize this: that house in the top school district is just a means to an end. There are other options: private schools, home-schooling, or high-quality public schools in less expensive places (possibly outside of the Bay Area). Your kid doesn't need to go to a pre-school with billionaires. She doesn't need Harvard, again, that's a nice-to-have but it's only a means to an end, and there are a couple hundred quality undergraduate colleges in the U.S. that, while they do less in terms of connections, do as much (and, in a few cases, arguably more) in terms of education. She needs, when she's in her 20s, to get a position in society and a level of respect that matches her abilities. In her first 10 years of work, she needs to be seen as a protégée rather than a subordinate, so that in the next 30, she can get things done instead of implementing others' shitty ideas. How you make this happen is up to you. The Cupertino pre-school won't hurt, but is it really going to make a difference when she's 25? Probably not. The typical Manhattan parent probably plows $40,000 per year for 19 years (pre-school through MBA school) into the child's education, plus 50 percent for social keep-up expenses (e.g., being able to travel with classmates). If, instead, the kid were sent to public schools and that money were invested in an index fund earning 4%, you'd have $1.66 million by that point. Personally, if I were choosing between $1.6 million than a Harvard MBA, I'd take the first. That might just be me, though. Now, obviously you can't just drop a million and a half on a teenager and say, "Go wild", because for every one who starts the next Facebook, there'll be nine who waste the money or end up dead. If you're giving up the structured wealth transfer of elite schools, you need some other structure that ensures that the money isn't wasted. Prestigious schools (as opposed to their public counterparts that are cheaper and often equivalent in quality, but don't deliver prestige and connections) provide a service of controlled inheritance, because most parents understand that dropping a 6- or 7-figure sum on a teenager and expecting him to turn that into the connections, freedom, and prestige that are achieved through prestigious education... has "unpredictable" results. So, I'm not saying that you should give your kids a huge chunk of cash at age 18, and obviously you want your kids to attend good schools (which don't have to be expensive ones). My point is that there's a spectrum of possibilities. What you could do is: move out of the Bay Area, get a decent house in a top public school district for $500,000 instead of $2 million, and use the money saved by not having a monster mortgage to bankroll your kid's first business (while requiring her to actually have a business plan that makes sense, because you don't want her to get things without working for them and learn the wrong lesson). To be honest, the only case where it makes sense to pay top dollar for schools, from a middle-class perspective, is college and professional school. And with starting capital of $50,000-- which is less than what it costs to send a kid to boarding school for 4 years-- you can have your kid "start a business" at 17 (it doesn't have to be a successful or big business, because little is expected from 17-year-olds) and make a case that does as much for elite-college admissions as any but the top 5 boarding schools.I understand the desire to give your kids every advantage in college admissions, starting at the pre-school level, but it's very hard to predict the "feeder" dynamic, because the preferences and advantages change all the time. In one year, colleges want "well-rounded" students, in the next, they want "spiky" (pre-specialized) kids. Sometimes, it's easier to get into Harvard from an average public school in Montana than from Stuyvesant (where, due to the bad luck of it being in Manhattan, you're competing with NYC day schools that have pre-negotiated, earmarked slots in all the Ivies) and well-to-do parents send their kids out into the mountain states in 11th grade to cop a regional advantage. (Yes, this actually happens. It doesn't always work, though. These parents assume that their kids will do better in college admissions as 99th-percentile students from a Montana school than 85th-percentile from Trinity... but the kids in Montana are smarter than these carpet-bagger parents realize and their kids end up only 90th-percentile from a Montana public, which is not Harvard-bound.) Other times, those preferences reverse and it's impossible to get into an Ivy from Montana. With all the opacity and the shifting preferences, you end up with is a system where, based on fear rather than data, people (if they have the means) pay huge amounts of money to put their kids into feeder pre-schools that lead to feeder grade schools that lead into feeder high schools that lead to prestigious colleges in order to get them good jobs. But maybe there are (or will be) other, less expensive, ways to get on the track at a later point, because the schools don't matter (as anything other than a means to an end) whereas the long-term effects of first professional entry do. Some kids go from Harvard to failure, and some go from state schools into great jobs (although the odds are obviously better at the elite college, and at the college level, spending the money is probably worth it). To give a concrete example of the general shiftiness of prestige and "feeder" advantages, I graduated from high school in 2001 and, on the East Coast, Stanford wasn't considered very prestigious. (College prestige was more regional than it is now.) Harvard, Yale, Amherst, MIT, Columbia, U. Chicago, Princeton, Brown... we'd heard of those. Stanford was somewhere in the same region as Michigan or Berkeley: a good school, for sure, but not eye-popping. In 2015, I don't know where Stanford stacks up in "prestige" (I don't have kids, I don't care) but a kid pretty much has to go to Stanford to have a chance at Silicon Valley. (Google admits people from other schools, but the good projects go to Stanford kids.) Ten or fifteen years ago, no one on the East Coast would have predicted that. Stanford beating Yale anywhere? No way. And yet, despite Yale's higher selectivity (yes, I know that Yale accepts a larger percentage than Stanford does, but that means jack shit) and stronger educational fundamentals, Yale kids apply to law school and Stanford kids get seed funding on the name of the school alone. My point is: 20 years out, it's pretty much impossible to predict this garbage, but you probably don't need to live in Cupertino in order for your kids to be eligible for decent jobs. At least, one fucking hopes that that is true. I'm guessing that there are multiple ways to get your kids what they really need. They need good jobs in their 20s, and elite schools two decades before that are just a means to that end. Okay, I'm done with this topic. I feel dirty and I need a shower. Good luck, OP.
How hard was it for you to move out of your family home? Did you make the decision or were you removed by some other situation?
It wasn’t hard for me. I wanted to leave. About 28 months previous, when I was 15 1/2, my parents split up. 6 months after that, I went to live with my uncle and his family overseas. During that time, my father remarried. My mother was not stable or interested enough for her eldest son to be around upon my return.There was essentially no home that I was familiar with to return to. It had been an unhappy childhood anyway. I spent my senior H.S. year with my Dad and his new wife, eventually moved out. About 8 months after that I joined the Navy for what turned into 8 years. I would have been in a military service no matter what. At that time, while there wasn’t a draft any more - there was a lottery system. My number was 4 - no way was I getting out of doing military service.Thanks for the A2A.
How hard is it to get land rezoned? If I buy a single family home on a large property, is it realistic to consider splitting up the land and building other homes? Or zoning the land for multi-family property?
You’re asking several different questions:How hard is it to get land rezoned?It is not hard to get land rezoned. You simply propose a re-zoning of your land and submit that proposal to your local planning board or municipal office through whatever process they use for zoning approvals. Then wait for their decision.If I buy a single family home on a large property, is it realistic to consider splitting up the land and building other homes?Yes. This is called “subdivision” and can be very profitable depending on many factors. You would hire an architect and/or land surveyor to create proposed lots, or parcels, from the larger property. Each proposed parcel must meet local size and dimensional codes and typically must have access to (or “frontage”) on a public road or proposed road.Or zoning the land for multi-family property?Again, this would depend on local codes for multi-family property. If it meets the criteria, it can be permitted for multi-family construction.There are two types of land use permitting for zoning:In an “as of right” permit, the local municipality cannot deny your permit provided the proposed project conforms to local codes. Otherwise, you need a “variance” or “special permit” which requires local approvals. In most cases, you would need to demonstrate hardship in order for a variance or special permit to be approved.Consult a zoning or land use attorney.