All Forum Posts by: Alex J.

do you have to be licensed in Houston to have a property management company?

South la is the only place to cash flow in la

do you need a re license to be a property manager in houston?

that auto corrected horribly

Refi cash out your place and then rent it out.  use proceeds to buy a place.  taxes defered you guys get a new place and you have somebodyg o pay the notes. Then when you pass yo heir they get market rate cost basis.  I think that might be a good solution

@manolod

yes you are right our architect got in there and found that there is a sewer line we can connect to, how its a question of what would be best for resell and what price.  we are planning on putting an additional inlaw suite or second unit in the back to add value

def not necessary.  it can be a good strategy but its not always the best.  if its for liability protection buy an umbrella policy they are usually a couple hundred a year for 2m coverage.  that would be my approach

its very difficult to find a good cap rate in los angeles. a lot of the investors i know personally are either turning to building if they can get a decent enough price for investment or are looking out of state.  the rare pocket of LA that has some relatively reasonable cap rates are South LA but that is because they are a much rougher pocket to invest in.  Its not terrible, but its not exactly a layup.

Honestly in major metros across the globe its really a sellers market.  to find some reasonable cap-rates you will prob have to look midwest texas and non coastal markets but the trade off is always the "appreciation" vs "cash flow"... in my personal opinion its not even an appreciation market anymore unless wages work their way up in major metros which right now is hard for me to envision that.    So basically right now i am leaning more toward the cap rate cash flow markets for wealth preservation  but im buying very selectively...and in the coasts (specifically LA is my market) I am looking for value add deals for buy buildout and rent/sell 

@aliboone

I actually found one in south LA , they arent exactly type A markets but its something i am comfortable with and have had investments for over 6 years.  I like parts of South LA because the non rent control areas tend to still have strong rental demand and you are giving people a chance to live in a place and care about it.  I personally go into a project with the idea to buy neglected, remodel higher end than what the neighborhood might command, then rent out at market or slightly above but not over the top.  One thing I can say about south LA, they are people like everybody else.  Screen tenants aggressively, require a deposit + first month last month to weed out those who are serious about their life, treat them with respect and they will treat you with respect

@justinfox its in the middle of an area in los angeles which is fairly densely populated...not hooked up to a personal well so might just be an old system and  i will have to rerun the line to the main sewer line.  i am exploring options but if it ends up being a flip i will just run the economics on what is the best value from an investment and will bring the best possible buyer...if that means replace to the main sewer at a 10k cost then it might be the best solution i think