All Forum Posts by: Anssi Viljanen

By your business you mean airbnb, correct? I assume so. AirBnb is the end game here so I would just get cooking with that. It seems to me that you know what makes the most business sense but struggle with figuring out how to navigate the human aspects. Ideally you would test the business idea with just one unit and keep the benefit of having that MTM income from the other unit. If the business works, you will scale. If it doesnt work, you will go into year leases. Thats the ideal situation from a business standpoint, correct? You bought this property for business so I think it stands to reason to first commit to the solution that makes the most business sense. Once you are committed to that, we can figure out how to delicately get over the awkwardness factor. We wouldnt want mere awkwardness get in the way of making good choices, right? It appears that there are two points of awkwardness. Tell me if Im right. 1. Which tenant to move out and how to justify just moving one out and not the other one? 2. How to communicate with the staying tenant about their future? If I am correct about the points of awkwardness then here is how I would answer the first question. Is there business reason to move one tenant out before the other? Is one of the units better suitable for airbnb? I would say an end unit would be better than a middle unit. A bigger unit would be better than a smaller one. Make it a business decision. What words to use with the tenant? I appreciate that you have taken good care of your unit. When I bought this property I did so with the idea of using it as a vacation rental. So starting next month I will need your unit vacant. What about the staying tenant? I feel like it would be courteous to tell them that you are currently experimenting with the other unit as a vacation rental and that there is a possibility that you might need their unit vacant in the future too but for the time being they are more than welcome to stay and you heard good things about them from the previous landlord (if that is true). Thats my two cents. Let me know if I was incorrect in my assumptions.

Hello Community, I am working with a passive equity partner who is interested in making money off my interest in flipping houses. I am still new and in need of someone who would ride shotgun with me for my first deal. Here is how I think about structuring the partnership and I would like to hear your opinions: My equity partner will receive 40% of the profits for coming up with the 20-25% required for skin-in-the-game with hard money lenders. (I came across 8%, 2 points, 80% LTV loan here in LA) I want to find an experienced flipper to ride shotgun with me to make sure im not doing something stupid. They wouldnt need to bringing in any money, just their expertise. They would receive 40% of the profits. And finally myself. I would keep 20% of the profits. Does that seem like an equitable way of sharing profits? I know my equity partner could get more somewhere else but I am family and taking a cut in profits in the beginning in order to get me up and running is an investment that in the long-term will net them a reliable, knowledgeable, lucrative partner. What are your thoughts?

Hello community, I would like to connect with a buyer's agent in Los Angeles who specializes in working with investors. If you are one or can refer me one I would appreciate that very much.

Which subscription based wholesale channel would you recommend for finding properties to flip?

@Wesley Weber Id be interested in receiving more info: [email protected]

I just recently asked the same question and was pointed to propertyradar.com

I hope that helps!

Welcome on board Suzette Brathwaite ! Im in Pasadena, so not too far away from you. If in your househacking you need a sounding board for your AirBnb options dont hesitate to contact me.

I looked up some average numbers. Average mortgage in the US is $200,000. If interest was 6% one would pay only about $200 towards the principal in the beginning. So going with interest only and refinancinn every 4-6 years, I would be saving $200-$300/month. Haha, sounds like a great deal compared to paying rent, not - with the liability, risk and capex.

Ill reach out to Adam Stone!

Thank you for sharing your story

@Account Closed I figured that 30% tax break concept seemed a little far fetched.

I definitely wouldnt go for his idea but I was curious if there was anything valuable in there after peeling back the layers. Evidently not. Thank you gents!