All Forum Posts by: Igor Nastaskin

Hi, thank you for replies, it reassured me the price is the key. Even though I had a trickle of appointments no one was submitting applications when rent was $5500-5900, except a fraudulent one. Looking at 4bd apartments available for rent in North Hollywood I noticed that none had rent at or above $5000. I also googled the rent trend for the area - apparently there was 20% decrease in rents in 2023. So I reducing the rent to $4900 which led to multiple showings per day, leading to two applications and apartment was rented out before the end of that week. 

Hi, I am renting out a townhouse in North Hollywood and am wondering if I am doing something wrong. Briefly this is a 4bdr/4bath 2400 sq ft townhouse in North Hollywood, built brand new in Nov 2021. I use Ziprent property management to find new tenants. The townhome is now 25 days on the market, my concern is that I reduced the price significantly and still no rental applications. Here is the link:

https://www.zillow.com/homedetails/347762481_zpid/

In 2022 I used ziprent to rent out this townhome for $5900. It took a month to find tenants (roommates). In 2023 same story - 1 month to rent out for $5900. Now I lowered the price from $5900 down to $5500 and now $5250. Initially at $5900 I had a showing once every 2-3 days: at the $5250 for past 5 days no showing. Brand new 4b/3.5ba 2000 sq ft townhome  on same block (5625 Riverton ave, North Hollywood) rented out for $5800 after 2 weeks on market. Any suggestions on what I can do different or what helped you rent out property faster? Any advise is appreciated. 

The way Ziprent operates is they charge $1250 flat fee to place tenant. Listing is placed on zillow.com and its affiliated sites plus I list property on apartments.com. For showing they would email a code to lockbox to prospective tenant once the showing appt arranged. After showing they email/text tenant for follow up. 

Hi, I own a fourplex in Los Angeles County and need help with condo conversion on it. Please reach out to me or recommend someone who can help with this process. Thank you.

Hi, I have 5 students/roommates apply for tenancy (in California) for one of the units of a fourplex in California. 3 students have cosigners (parents), one cosigner is architect and one is an out of state judge. This is my first time leasing to roommates - is this a good idea? My pm provided a standard california rental agreement - what extra terms must I include for my protection?

Thank you!

Hi, I came across purchasing a fourplex under master lease by a residential drug rehab business. Master lease is for 2 years followed by 2 year renewal option and rent escalators. Owner of this rehab owns several rehabs already. Anyone with experience investing into properties leased to rehabs? What should I watch out for? Is it even a good idea to invest in this particular situation? What to look for during due diligence period? All advises appreciated. (property is in Los Angeles county). Thank you.

Anyone can recommend lender who still does jumbo loans on duplex/fourplex in Los Angeles area? Thx

This fourplex is a brand new construction, all 3/3 units, 3 story high with tandem 2 car garage. There is quiet a number of similar fourplexes, in fact one very similar fourplex right next to it rented out for same/higher rents prior to covid. My goal is long term hold. [Solicitation Removed by Moderators]

Hi, I am looking for a feedback from more experienced members. Currently I am planning to buy a newly built fourplex in NoHo area of Los Angeles (sandwiched between North Hollywood and Toluca Lake). What concerns me is that for the past 2-3 years there is a lot of new development going on, putting similar townhouses on the market. I am a bit concerned that near term constant increase in supply would drive the rents downward. There are already several similar townhouses on market that are available for rent. Seller who is also a RE agent assured me that demand is very high and he is able to rent out other units in similar fourplexes rather quickly, even during COVID downturn. So I wanted to get some feedback from members who know this market to comment if it would be a good idea to invest there. My goal is 0 to positive cash flow and mainly banking on rent appreciation over time. 

A little bit of background info - all units in fourplex have garages, are 3-4 bedrooms, and delivered vacant. Some of the units that were rented out ~2 years ago and are back on  market are at same, higher and lower rents. Thank you.

Hi,

I came across a commercial real estate opportunity in Las Vegas (a small strip mall, 3 tenants). Since I am based in Los Angeles, what are the pitfals to pay attention to and to cover during due diligence process as related to out of state investment? Do I need to retain an agent to represent me who is from Vegas or to utilize one I already have in Los Angeles? Thank you,

Hi,

In my search for retail commercial property I came across one with a 10% CAP rate and NNN tenant signed for 10 years, with corporate guarantee on a lease. However its a leasehold type of investment. What are the downsides and pitfalls on acquiring and managing this type of investment? Thank you.