| WIKI | FAQ | Tech FAQ | |
 http://csua.com/feed/ | |
| ||||||
| 5/24 |
| 2008/4/24-5/2 [Reference/RealEstate] UID:49826 Activity:low |
4/24 Landlord with a ... Yacht??? No, with landlord rage.
http://www.csua.org/u/lce (sfgate)
\_ More: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/04/27/MN0R10CDQC.DTL
\_ Is he a Libertarian?
\_ No, but he is a CSUA'er.
\_ can't finger macy
\_ 'finger kip'
\_ That's awesome, we should go visit him in prison. It's
Allumnus outreach. Did anyone here know him?
\_ Man, they must have some awesome rent to put up with that.
\_ Once they sue him for everything he owns they will be
doing even better. Also how the hell do you buy a 6 unit place
for 1 million in sf?
\_ http://www.csua.org/u/lci (5 units, okay)
Rental property in The City is valued mostly on the basis
of the CapEx, so a building with very low rent isn't worth
much.
\_ That's not the property.
\_ At 20% down that will pay for itself from day one
That seems more than reasonable in SF in this market.
\_ Yeah, but you have to put up with crappy tenants
who won't leave even after you saw a hole in their
floor! Selfish tenants.
\_ PITI + maintenance (1% of cost) per year comes out
about even in my book, which isn't too bad, but still
not exactly a great investment. What are you counting
on here to make a profit, capital gains?
\_ Deductions + gains + rents will go up (a lot once
someone moves)
someone moves). And, if you hold on to the property
for long enough some of that money is going to come
back to you when you sell.
\_ Why would you do that in SF when you can do the
same thing in another city that doesn't have a
draconian rent control board?
\_ Tahkisis will triumph!
\_ Sometimes the motd is awesome. -- ilyas
\_ If you invest $200k in the stock market and
hold it long enough, you are bound to eventually
make some money that way, too. Though I have been
thinking more about retirement lately and realize
that some rental property is about as close as
us private sector slobs are going to get to a
pension. At least rental income will tend to
increase with inflation.
\_ Our Heros are in the paper again:
http://www.csua.org/u/lcy |
| 5/24 |
|
| www.csua.org/u/lce -> www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/04/24/BAIU10ALDM.DTL Georgia (default) Verdana Times New Roman Arial (04-23) 19:04 PDT SAN FRANCISCO -- A landlord couple have been charged in San Francisco with waging a campaign of terror against their renters in a South of Market building, including cutting out the floor supports at one apartment after the tenant went to court to keep from being evicted, authorities said Wednesday. They posted bail after their arrest and could not be reached for comment Wednesday. The charges stem from tactics the Macys allegedly used after they bought a six-unit, three-story apartment building on Clementina Street for $995,000 in 2005 and started eviction proceedings against the five tenants living there. When one of the tenants, Scott Morrow, successfully fought eviction, the couple allegedly told workers in September 2006 to cut the beams that supported his apartment's floor. They also shut off Morrow's electricity, cut his phone line and had workers saw a hole in his living room floor from below, prosecutors said. The couple were also charged with terrorizing two other tenants in the building who began paying the Macys reduced rent after concluding that they were being overcharged under the city's rent control law. Prosecutors said the Macys broke into the tenants' apartment last June and stole $2,000 in cash, a Gucci watch and a cell phone. The tenants, Erik Hernandez and Jason Lopez, later filed a lawsuit accusing the Macys of first changing the locks on the apartment, then illegally entering their unit and dismantling some of their furniture. When Hernandez came home and confronted Kip Macy as the landlord was ransacking his apartment, Macy kicked him in the chest, the suit says. Threatening notes then started appearing at the tenants' door, and the water was shut off after the Macys stopped paying the bill, the suit says. In October, Nicole Macy broke into the apartment and poured ammonia on clothes, bedding and home electronics, prosecutors said. "I would say this is horrendous, a total abuse of tenants and human beings so they could have their way and totally ignore the law," said Steve Collier, the attorney for Hernandez and Lopez. Kip Macy is accused of three felony conspiracy charges, three burglary charges, two stalking charges, two grand theft charges and one felony count of shutting off service, related to cutting Morrow's power. Nicole Macy faces three conspiracy charges, three burglary charges, two stalking charges, two grand theft charges, one charge of cutting phone service and one count of misdemeanor vandalism. Among other things, the Macys' attempted evictions under the state Ellis Act violated the law, the city says. The law allows landlords to quit the rental business, evict all tenants and move into the vacant units themselves or sell them to a group of individuals who would occupy them. But if any units are re-rented within five years, the rents have to be the same as those the evicted tenants were paying. The Macys, said Choi, simply rented to new tenants at higher rates. But Morrow fought his eviction and won in the summer of 2006. A fire in the apartment below his had exposed the floor joists, and after he won his court case, the Macys had the joists cut, Choi said. "That is one of the most egregious things I've seen, of cases of landlords really going to extremes," Choi said. One day, Morrow noticed the blade of a saw come through his living room floor, his attorney said. He and a friend managed to bend the blade, which had cut a 2-by-4-foot hole in the floor. Choi said building inspectors repeatedly visited the building and issued multiple citations, including one ordering that the cut joists be repaired immediately. In the end, the city did the work and sent the Macys a bill for $8,000, which the couple have not yet paid, Choi said. "It seemed like these landlords went from zero to extremely angry very quickly." He literally never leaves his apartment because he thinks the Macys will change the locks." "It's their property, they can cut holes in the floor, if they want to. After a few incidents like that, you come to the conclusion that anything can happen." |
| www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/04/27/MN0R10CDQC.DTL Chronicle Graphic One day in August 2006, Nicole Macy met with a San Francisco building official to talk about the damage that a small fire had caused to the South of Market apartment building she and her husband owned. She also mentioned she wanted to get rid of a stubborn tenant. Which one of the now-exposed ceiling beams in the fire-damaged unit, Macy asked, would need to be cut to make the building so dangerous that the city would red-tag it as uninhabitable? "That would be illegal," Inspector David Herring replied, according to a court filing reviewed by The Chronicle. Herring would never tell someone how to make a building unsafe, he later recounted to authorities. Macy was not too pleased at the inspector's response, he said. San Francisco prosecutors now say that Macy and her husband, Kip Macy, did have the beams cut supporting the floor of that pesky renter, who had managed to fight off eviction. It was just one salvo in a war of terror that prosecutors say the Palo Alto couple waged against their renters at 744-746 Clementina St. that also included cutting holes in the floor, falsely reporting the troublesome tenant to police as a squatter, and concocting e-mails in his name to an attorney for the landlords, threatening to dismember her children. Last week, the Macys' alleged tactics landed them in criminal court. Kip Macy, a 33-year-old software developer who has developed anti-hacking programs, and Nicole Macy, 32, a real estate agent whose office is in the Sunset District, were both charged with multiple felony counts of burglary, theft, conspiracy and stalking. A knock at the door Scott Morrow's nightmare, as recounted in a 61-page affidavit that prosecutors filed in support of the charges against the Macys, began not long after the couple showed up in June 2005 at the apartment where he had lived for six years. They introduced themselves as having just bought the six-unit building with a plan to live downstairs. The Macys were cordial, even when they soon moved to evict Morrow and the tenants of four other units under the Ellis Act, a state law that lets landlords remove tenants to let family members move in. Most of the tenants would have to leave within 60 days, but because he was disabled - suffering chronic, debilitating migraine headaches - Morrow got a one-year reprieve. In July 2005, the same month the Macys moved in and started eviction efforts, Nicole Macy called Morrow. She asked him if he hated her because of the plan to kick him out, he later told prosecutors. Not long after that, however, somebody stomped loudly on the floor of the apartment above Morrow, the one the Macys were using as an office. His electric power was cut in the middle of the afternoon. It lasted just five minutes, so Morrow didn't think much of it. Building trouble That November, however, things deteriorated rapidly. Morrow complained to the city about noise and dust from crews working on the vacant apartment below, prompting inspectors to issue a citation against the Macys for having work done without permits. Kip Macy got so mad, Morrow told prosecutors, that he jumped up and down in the upstairs unit with sufficient force that Morrow's ceiling paint started to crack. Nicole Macy shouted his name from the backyard and tossed pebbles against his window. At 5 am the next day, Morrow said, the music and stomping started again. An hour later, Kip Macy knocked at Morrow's door and asked, "How's it going, Scott?" Later that morning, Morrow found the new work permit stuffed through his door. Over the next few months, Morrow's water was shut off repeatedly without notice. In December, the Macys moved out, but they made it clear to Morrow they were still thinking about him. Investigators say that a few days after his shower water was cut off, in January 2006, he got a note from Nicole Macy asking how he was doing. "If you come out," she wrote, "I have cinabons from IKEA. Electronic warfare In March 2006, Morrow was notified that the Macys wanted to sell. The building did go on the market as a tenancy-in-common, with Nicole Macy as the agent. Kip Macy, prosecutors believe, turned his software engineering skills against Morrow. Someone started generating e-mail, using accounts under Morrow's name, to attorneys in his eviction case. Morrow later told prosecutors he didn't even have an e-mail address. The first e-mails went to Morrow's own lawyers in July 2006, the same month that marked the end of the year's reprieve. There was going to be a fight about the eviction in court. One e-mail purportedly from Morrow told the lawyer that he had been a "disaster and a f- up." The next day, the same lawyer got another message: "You are no longer my counsel. When a court ruled in Morrow's favor in the eviction case, a lawyer at the firm representing the Macys got an e-mail purportedly from the tenant that read, "One day you are going to come home to the Victorian house ... Then each day a package will arrive with a piece of them. J Scott Weaver, Morrow's current lawyer, said the messages prompted the lawyer to obtain a restraining order. When Morrow found out, the attorney said, "he was horrified. She was spotted by a friend of Morrow's who photographed her carrying a rock, and Morrow heard a large crashing sound in the back of his unit. Later that day, Nicole Macy called police and reported that a homeless person was living in the building and had threatened her, police dispatch records show. When Morrow opened his door, the officer rushed in with gun drawn and ordered Morrow and a friend to the floor. Morrow convinced the officer he was a tenant, and Macy conceded that she knew him, Morrow told investigators. But Macy also told the officer about a small fire that had damaged the unit below Morrow's a few days before. Morrow told prosecutors that after a night celebrating his victory in staving off eviction, he had come home and found the unit below his on fire. The officer told Morrow that the building wasn't safe and that he would have to leave. "Watch your backs," the officer told Morrow and his friend. A strange conversation Nicole Macy proceeded to call a city inspector to the building and ask him to rule that Morrow's unit was not habitable because of the fire. The inspector concluded the structure was unsafe and issued a violation notice. Not satisfied with that, Nicole Macy showed up at the Department of Building Inspection, asking building Inspector Herring to have the Clementina Street structure condemned so she could get rid of Morrow. Herring replied that another inspector had already checked the structure and would have red-tagged the building if needed. Besides, he said, he understood the fire to be minor and that none of the ceiling joists had been damaged. "Nicole Macy replied by asking what beams she would need to cut to make the apartment building structurally unsafe so the inspector would red tag (it)," according to the prosecution's affidavit. Rebuffed, prosecutors say, the Macys went ahead with their plan. Then in September, he started to hear rumbling noises from below. One Saturday, he discovered a 1-by-2-foot hole had been cut in his living room floor. When Morrow protested, Kip Macy replied, "I'm afraid you didn't inherit the building," the affidavit said. The contractor the Macys had hired, Ricardo Cartagena, later told prosecutors that Kip Macy had asked him to cut out walls in the first-floor unit. Cartagena protested that it could cause the upper unit to collapse. "Wouldn't it be a shame if it collapsed," Kip Macy replied, Cartagena said. Crews did cut wedges into the floor beams, prosecutors said, which Morrow discovered when he looked through the hole in his floor. When he called building officials, Nicole Macy told inspectors that it was all because of a misunderstanding with the Spanish-speaking crew she had hired, the prosecution affidavit said. Then she pressed for building officials to condemn the structure, but inspectors decided instead to declare just Morrow's living room uninhabitable. As the Macys' apparent financial problems mushroomed and the plan to sell the building for tenancies-in-common was put on hold, Nico... |
| www.csua.org/u/lci -> sfarmls.rapmls.com/scripts/mgrqispi.dll?APPNAME=Sanfrancisco&PRGNAME=MLSPropertyDetail&ARGUMENTS=-N709168090,-N217468,-N,-A,-N13280980 Remarks Fully Leased Investment Property with $76,420 annual income. Front building is 3 one bedroom flats, rear building is ground floor studio, and two level apartment. Rear structure is full detached and front structure is detached on 3 sides. Excellent rental location near ocean beach, golden gate park, N Judah street car, Java Beach Coffee House, and other amenities with in walking distance. The buildings are not next to each other, they are front and rear. |
| www.csua.org/u/lcy -> www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/04/26/MN0R10CDQC.DTL&tsp=1 Chronicle Graphic One day in August 2006, Nicole Macy met with a San Francisco building official to talk about the damage that a small fire had caused to the South of Market apartment building she and her husband owned. She also mentioned she wanted to get rid of a stubborn tenant. Which one of the now-exposed ceiling beams in the fire-damaged unit, Macy asked, would need to be cut to make the building so dangerous that the city would red-tag it as uninhabitable? "That would be illegal," Inspector David Herring replied, according to a court filing reviewed by The Chronicle. Herring would never tell someone how to make a building unsafe, he later recounted to authorities. Macy was not too pleased at the inspector's response, he said. San Francisco prosecutors now say that Macy and her husband, Kip Macy, did have the beams cut supporting the floor of that pesky renter, who had managed to fight off eviction. It was just one salvo in a war of terror that prosecutors say the Palo Alto couple waged against their renters at 744-746 Clementina St. that also included cutting holes in the floor, falsely reporting the troublesome tenant to police as a squatter, and concocting e-mails in his name to an attorney for the landlords, threatening to dismember her children. Last week, the Macys' alleged tactics landed them in criminal court. Kip Macy, a 33-year-old software developer who has developed anti-hacking programs, and Nicole Macy, 32, a real estate agent whose office is in the Sunset District, were both charged with multiple felony counts of burglary, theft, conspiracy and stalking. A knock at the door Scott Morrow's nightmare, as recounted in a 61-page affidavit that prosecutors filed in support of the charges against the Macys, began not long after the couple showed up in June 2005 at the apartment where he had lived for six years. They introduced themselves as having just bought the six-unit building with a plan to live downstairs. The Macys were cordial, even when they soon moved to evict Morrow and the tenants of four other units under the Ellis Act, a state law that lets landlords remove tenants to let family members move in. Most of the tenants would have to leave within 60 days, but because he was disabled - suffering chronic, debilitating migraine headaches - Morrow got a one-year reprieve. In July 2005, the same month the Macys moved in and started eviction efforts, Nicole Macy called Morrow. She asked him if he hated her because of the plan to kick him out, he later told prosecutors. Not long after that, however, somebody stomped loudly on the floor of the apartment above Morrow, the one the Macys were using as an office. His electric power was cut in the middle of the afternoon. It lasted just five minutes, so Morrow didn't think much of it. Building trouble That November, however, things deteriorated rapidly. Morrow complained to the city about noise and dust from crews working on the vacant apartment below, prompting inspectors to issue a citation against the Macys for having work done without permits. Kip Macy got so mad, Morrow told prosecutors, that he jumped up and down in the upstairs unit with sufficient force that Morrow's ceiling paint started to crack. Nicole Macy shouted his name from the backyard and tossed pebbles against his window. At 5 am the next day, Morrow said, the music and stomping started again. An hour later, Kip Macy knocked at Morrow's door and asked, "How's it going, Scott?" Later that morning, Morrow found the new work permit stuffed through his door. Over the next few months, Morrow's water was shut off repeatedly without notice. In December, the Macys moved out, but they made it clear to Morrow they were still thinking about him. Investigators say that a few days after his shower water was cut off, in January 2006, he got a note from Nicole Macy asking how he was doing. "If you come out," she wrote, "I have cinabons from IKEA. Electronic warfare In March 2006, Morrow was notified that the Macys wanted to sell. The building did go on the market as a tenancy-in-common, with Nicole Macy as the agent. Kip Macy, prosecutors believe, turned his software engineering skills against Morrow. Someone started generating e-mail, using accounts under Morrow's name, to attorneys in his eviction case. Morrow later told prosecutors he didn't even have an e-mail address. The first e-mails went to Morrow's own lawyers in July 2006, the same month that marked the end of the year's reprieve. There was going to be a fight about the eviction in court. One e-mail purportedly from Morrow told the lawyer that he had been a "disaster and a f- up." The next day, the same lawyer got another message: "You are no longer my counsel. When a court ruled in Morrow's favor in the eviction case, a lawyer at the firm representing the Macys got an e-mail purportedly from the tenant that read, "One day you are going to come home to the Victorian house ... Then each day a package will arrive with a piece of them. J Scott Weaver, Morrow's current lawyer, said the messages prompted the lawyer to obtain a restraining order. When Morrow found out, the attorney said, "he was horrified. She was spotted by a friend of Morrow's who photographed her carrying a rock, and Morrow heard a large crashing sound in the back of his unit. Later that day, Nicole Macy called police and reported that a homeless person was living in the building and had threatened her, police dispatch records show. When Morrow opened his door, the officer rushed in with gun drawn and ordered Morrow and a friend to the floor. Morrow convinced the officer he was a tenant, and Macy conceded that she knew him, Morrow told investigators. But Macy also told the officer about a small fire that had damaged the unit below Morrow's a few days before. Morrow told prosecutors that after a night celebrating his victory in staving off eviction, he had come home and found the unit below his on fire. The officer told Morrow that the building wasn't safe and that he would have to leave. "Watch your backs," the officer told Morrow and his friend. A strange conversation Nicole Macy proceeded to call a city inspector to the building and ask him to rule that Morrow's unit was not habitable because of the fire. The inspector concluded the structure was unsafe and issued a violation notice. Not satisfied with that, Nicole Macy showed up at the Department of Building Inspection, asking building Inspector Herring to have the Clementina Street structure condemned so she could get rid of Morrow. Herring replied that another inspector had already checked the structure and would have red-tagged the building if needed. Besides, he said, he understood the fire to be minor and that none of the ceiling joists had been damaged. "Nicole Macy replied by asking what beams she would need to cut to make the apartment building structurally unsafe so the inspector would red tag (it)," according to the prosecution's affidavit. Rebuffed, prosecutors say, the Macys went ahead with their plan. Then in September, he started to hear rumbling noises from below. One Saturday, he discovered a 1-by-2-foot hole had been cut in his living room floor. When Morrow protested, Kip Macy replied, "I'm afraid you didn't inherit the building," the affidavit said. The contractor the Macys had hired, Ricardo Cartagena, later told prosecutors that Kip Macy had asked him to cut out walls in the first-floor unit. Cartagena protested that it could cause the upper unit to collapse. "Wouldn't it be a shame if it collapsed," Kip Macy replied, Cartagena said. Crews did cut wedges into the floor beams, prosecutors said, which Morrow discovered when he looked through the hole in his floor. When he called building officials, Nicole Macy told inspectors that it was all because of a misunderstanding with the Spanish-speaking crew she had hired, the prosecution affidavit said. Then she pressed for building officials to condemn the structure, but inspectors decided instead to declare just Morrow's living room uninhabitable. As the Macys' apparent financial problems mushroomed and the plan to sell the building for tenancies-in-common was put on hold, Nico... |