All Forum Posts by: Dave Kay

Thanks all! 

Hi 

Does anyone know of a good source to get education & info on multi-family investing? Looking for videos and or seminars/education materials/downloads to help me better analyze deals, learn what to look for, and look out for, ect ect - 

In Los Angeles area btw. Thx! 

I have 2 properties in Los Angeles. The first is in a nicer area. I've used Craigslist a lot for this building and I've had decent luck with tenants. I attribute this partially to the location. 

I just bought a 2nd multi-unit property in an area that's much more of an up & comer. Lot's of development coming to the area of my new property, but it won't start effecting the demographics for at least 3-5 years. 

Thinking that I need to post ads on websites where I can weed out some of the more unqualified folks who might respond on Craigslist. I am an RE agent so I can also post on the MLS... other than that, some suggest Westside Rentals.

Any other suggestions? Thx! 

If so, which one? 

Multi-unit here who recently got real estate license (SoCal). Are there benefits/downsides to listing a rental on the MLS vs a site like Craigslist or Hotpads?

Meaning, are there any ups/downs to finding a tenant through a realtor via the MLS vs on your own on Craigslist?

@Aly W. My attny is advising an assignment of rights agreement. But without a cooperative seller, this can't be done. Seller is offering to leave $$ in escrow, but demands the eviction language stay in the addendum. I'm afraid my lender will not lend with this language in place. 

Long story short. 

In escrow on a 4-unit in rent controlled Los Angeles. In the middle of escrow I found out that 1 tenant is actually 6 months late in rent and I was horribly misinformed from the start. 

Seller has started eviction process but this will not finish before close of escrow, so I'm trying to get seller to agree to assignment of rights to let me continue the case on my own after escrow closes. 

Seller's agent is demanding we put all eviction agreements into escrow. I am almost certain that if my lender get's wind of it they will not fund the loan. I do not even want to ask. 

Loan officers... will you still fund a loan with an ongoing eviction? 

I recently acquired 4 unit in Los Angeles. The building has 5 detached garages, one of which is empty. I'm thinking of converting the extra garage into a (coin) laundry room for the tenants, as the building has no washer/dryer. 

Wondering if anyone has an idea of the permit process in Los Angeles for something like this... the cost, the restrictions, the hassle, ect ect. 

Thanks! 

@Steve L.  Great advice, thanks! 

In escrow on a 4-plex. One tenant is over 60 days late in rent. Can I, or the seller start the eviction process at this point in time? This is rent control in Los Angeles, and non-owner occupied.