All Forum Posts by: Roland Chan

There are two car parking space, so two remote suppose for two cars, one for each. So one of them is broken. So I cannot ask seller to provide a good working one?

I just bought a condo, it has a common car park for cars parking, this condo has two parking spots. After the closing, I am given the mailbox key, main door keys and two garage door opener. But one of the garage door opener is not working properly and has broken clips. Is the seller responsible for the broken garage door opener? Thanks. 

I am look for property management software, which can keep track of income and expense and help tax return at the end of year. Please advice.

I am working on a 1031 exchange. 

I sold my condo and get around $250k proceed, what if I put some $50k cash in, and then buy a $300k property full cash. After closing, then I do a cash-out refinance to get $150k back? Is there any problem for the 1031 exchange? 

Thanks.  

I am in escrow of purchasing a house, the house is owned by two brothers (A and B), in form of joint tenancy. Now all the purchase contract is signed by brother A only. Escrow said brother B will grant deed to A at closing, then A will grant deed to me. It seems logical, but how do I protect myself? I feel not comfortable as the purchase contract only has one person's signature while the house is owned by two people. Is that normal practice?

Now the preliminary report shows the house is owned by two brothers in joint tenants, will the title insurance protect from any mistake happen in "B grant deed to A"?

Thanks~

Hi, I have a condo in san diego just finish the mortgage, which worth around $200,000. I am looking for next step in real estate investing. What is a good way? Currently I am renting out the condo and get around 4% annual return, but the tax is heavy, and the money is not leveraging. I am thinking to sell it and get around $200,000 and then split into two $100,000 and then buy two condos, with around $250k each. Another thoughts is to buy a more expensive townhome around $500,000. Any suggestions or comments? Thanks.

Hi, I am interested in investing in Temecula (CA), I did some research around the area. It has a new Temecula Hospital, it will open soon, so it will bring more employment. It also has casino and winery. And the population of the city is growing. I got a house pending in south of Temecula Parkway and I am thinking to proceed or not. It is a SFH with around 2000 sq feet.

My number one concern is the ease of finding tenants in that area. Any one with investment experience there and can share some thought? Thanks a lot.

Under $225K will be a condo for sure, and the HOA due will kill the cashflow for most cases.

In southern California, it is very difficult to find cashflow property with $500 per month, please let me know if there is any areas with that. I am good for around $100 to $200 positive cashflow per month.

Welcome and good luck.

I have similar situation, I have 2 properties with great cashflow and now I cannot find good investment properties. I am thinking to put the money into REIT before I can get into the next good investment property. REIT is very liquid and it has a OK return (like around 5% annual return now), as I am not sure when I can get the next investment property, putting into REIT seem a good choice.