All Forum Posts by: Edward P.

Hi,

I am purchasing a rent controlled property in Los Angeles. I wanted to know if there is a way to get rid of one tenant. Is there anything I can write in a new lease to have them leave after one year of anything..

Thank you.

Hi Keishee,

Thank you for the information. I noticed a few friends mentioned to start a new lease when you come in.  Please let me know your thoughts.

HI BP Forums,

Thank you in advance for your help. Can you please let me know if you ask the tenants to fill out the new application and lease agreement when you purchase the property? I am new to this game. 

Thanks!

Eddy

Hi,

What is the benefit of having an RE License? Since you are not allowed to purchase your own properties?

Thank you in advance.

Sorry for the typo in the subject!

Hi BP, 

Thank you in advance for your help. 

I have a 1031 investment property (home) now I am buying an fourplex. 1.I wanted to know how to know if you are getting a good deal(if that even correct to ask)?

Built in the 1920s, lot ~6K, 4b/4ba, but it actually has 2 bedrooms each but was not planned/permitted. 2. (would this be an issue)?

Its a 4 unit: 1 duplex and 2 single homes, $4200 income. It is under rent control 3. I am allowed to do a increase of about 10% every year am I allowed to do it at the time of the new ownership and is it smart?

I know this is a multiple point question I want get a better idea on what to ask our broker or owner. 

Dave,

Thank you for all the great information you have taught me something I did not know!! I will probably purchase a multi-unit apartment home so there will be residual to take home. I did note know about the aggregate value of 200% is allowed for chosing 4 or more properties.

I did want to ask am I allowed to purchase more than 1 property since I am exchanging from 1 property. Or is this a like transaction? 

Thank you in advance.

Hi BP community, 

I have a few questions to ask about the 1031 exchange in California:

1. Is there a way to extend it from the 45 day period? I know by the 45th day you have to let the exchange company know that you are interested in 3 specific properties. 
   
   1. What if I buy another property that I did not list after the 45th day?
2. This property was for investment purposes should I purchase for my parents to live in? Or should I purchase a 5 unit apartment? 

If you have any questions please ask I will answer and thank you in advance for your help.