All Forum Posts by: Barbara Chan

We are contemplating buying a distressed property with a tenant that faced eviction because when he trashed his unit it became uninhabitable. Apparently his sister is stepping in to make repairs and keep him there.  Of course it makes us uncomfortable as we are not sure what else he may be capable of doing. There are broken windows on the building and we are not sure if he did it or there is crime in the area. It is the worse area of a decently good town.

Has anyone had experience dealing with tenants like this? We would like to know what issues we should think about in a building like this. We appreciate any feedback!

We own a well maintained apartment building in a good area of the East Bay of San Francisco Bay Area. We have great long term tenants because we maintain the building well and don't try to gouge them with high rents. We would like to get into more cash flowing properties but the competition is snapping up 3-4% cap rates, which doesn't cash flow if you need to use leverage. Prices are very high, so we need to use leverage. Because we realize the difficulty of our situation, we are trying to learn methods beyond the conventional to acquire multi family residences and acquire contacts to make it happen in a mutually beneficial way.

Thank you for your quick response. I am new and unfamiliar with what you mean by lien or deed state. Would you please explain? By the online tax record there was a payment plan arranged, but there was supposed to be a 4K payment by last week to keep it in place and 28k payment due next year to pay it off fully.

We are mulling options for an offer for a distressed MFR as we are new to ideas beyond conventional. Seller has a listing agent and I inadvertently mentioned I was looking at a property to an agent in my area and now we have a buying agent involved.

The property was built mid century, all original. Current owner bought early 2000s, has been collecting rent, deferred maintenance, owes $28K in taxes, and may be other bills. Apparently a section 8 tenant damaged his unit, made it uninhabitable & faced eviction, but sister is working on repairs so he can stay. Roof has been repaired, will eventually need replacing. There are several broken windows. Net income is mid $40s.

One option is bringing the property current on taxes and other outstanding bills, paying all costs associated with transferring title to a land trust with a friend as trustee (we being the beneficiaries) giving something to both brokers and giving sellers walking money. Without assuming the loan, we would take over paying the loan still in their name. We would appreciate feedback and advice!

Hi All, we are working on an offer for a distressed multi family property in Solano County California. I need to find a good title company to better learn what we might be walking into. Any suggestions?

Consider Evernote. You can create Notebooks and put all your receipts for one trip into the Notebook. You can have Evernote on your phone, tablet and computer and access the Cloud from any of them. Hope that helps!