All Forum Posts by: Udayabagya Halim

Hi everyone,

What's your opinion on butcher block countertop for a rehab/flip project?

I personally like how they look, and they are also relatively cheap/easy to process/cut being wood and all.   

I'm seriously thinking of installing one on a property, but I don't know whether it will be well received.

Anyone have some experience on this?

Thanks.

Will be there

For an investment property, it's best to calculate through average rent in the area.  The value of that property is 

(100 x monthly income of full occupancy) = max price

Or it's the same as the annual gross income is 12%

@Aaron Mazzrillo 

Yeah, I've checked the bigger pocket website for such clubs.  http://www.biggerpockets.com/rei/california-real-e...

There are 2 in LA, and both have "real estate guru" website feel to them.  I wasn't sure if they are legit.

I'm looking for a property to flip, and I though it may be a good idea to get in touch with a wholesaler.

And what do wholesaler do/ service provided?

I forgot to ask, what do wholesaler offer as part of their service?

I'm looking for a property to flip, and I've heard that getting in touch with a wholesaler might be a good idea.  I've been looking for a property and still haven't found one.

How can one find a wholesaler in Los Angeles?

Technically, even after obtaining a license, you can't really buy and sell houses OR manage other people's real estate without working for a broker.  In addition, the required classes you take will not actually teach you the process and paperworks required to buy a house.

Even if you get a license, those MLS access are not free. Most of the time you have to be associated with a broker who can make a deal with getting full access to the MLS -- in which you have to pay an annual fee in the thousands of dollars.

Redfin essentially copy paste the MLS data.  Some missing information are the "agent remarks" and the ability to search property based on the number of units--for example.  There isn't much else that's missing.

I think it's good if you are planning to do this full time. But otherwise, its probably not.

Function wise, Induction & Gas are both great.  It's a new tool, like moving from Windows XP to Windows 8.  It needs some adjustment to use a new tool.  There is a small issue of finding the correct cookware that is suitable for induction cooker.

Maintenance wise, gas cooker is cheaper and easier.  It's really just a gas hose and a spark.  If its not working, there is probably a leak somewhere that can be patched.  It can last over 20 years with no issue.

Induction, on the other hand, uses multiple electronic components that are much more complicated.  So fixing one can be an issue.  It's a new enough technology that its not clear how long it can last.

Asking the seller if the building is "OK", or the condition of the neighborhood is not very useful.  They have the incentive to say that things are good , sale price is reasonable and units are occupied all the time.

This part is something you kind of have to research on your own.

Rentometer, Rentjungle and craigslist are good source to find average rent around the area.  Craigslist is good because it shows current rate.

Something important to ask is whether they have all the leases/rental agreement properly documented for all their tenants.  Stay away from any verbal agreements. Also good to know if they follow local rent control ordinances if applicable.

Price wise, check if current monthly rent/ projected rent is at least 1% of the sales price.  Anything lower than that is not worth the trouble.