All Forum Posts by: Mark Hu

We were looking at a 8 unit complex, and I learned that the interest on these is at least 7%, versus 5% or less for 7 units or less residential income.
So I am curious, does the GM of sales of large (8+units) apartments reflect the higher interest rate? So far it seems to me 8+ unit apartments tend to have lower gross multiplier (selling price) to help out with the higher interest rates.

1031 is for exchanges between seller and buyer. Paying off a mortgage is not an exchange.

How is condo ownership recorded in county archives, when there is no property lot?

I recently looked up some property lots down at the Orange County Records office, and I although I found one property I was looking for, I couldn't find a map of the lots of a condominium complex. Are they recorded in a different fashion than normal property lots? They are after all so small and on top of one another.

Thanks

If it is gutted, I would think it would make it easier to check out all the wiring, plumbing, gas lines, any wood rot, termites, etc. I might like to rehab a place like that.

We found the property, besides a 630k mortgage, has a 400k lien from the US attorney which we did not know about. We are walking!

I've just read that to be an outside property manager in California one must have a brokers license, not just a real estate salesperson license. Is this true?

Or you mean angry people being foreclosed on take them off?

There are a ton of foreclosures in my area, and I've never seen a trustee sale notice yet.
I suppose if I ever were to handle a foreclosure (god forbid) this means I could ignore such legal requirements as posting the trustee sale on the property, and maybe many others?

I've read that Title companies are good places to ask for recommendations for good agents. Why would this be so? And would escrow companies be good places as well?

Thanks.