All Forum Posts by: Edwin Hsu

I also agree with using granite.  I used laminate on my first remodeling job and after I sold it, the first thing the new buyer did was replace the laminate w granite.

I would follow policy.  I remember when I rented a unit in a community run by one of California's largest real estate companies, they did this for every unit regardless of whether the tenant had cleaned the place up themselves.  I remember hearing some tenants complain, but I was actually impressed.  Property management's responsibility is to maintain the condition of the property.  A hotel would hire professional cleaning, an airbnb host would do the same.  I see no difference in your case.

I think Torrance is a difficult investment place especially if you are not local.  IMO, your best bet would be to find an underpriced house (or lot) and then if you have the experience and local team to strip it down and flip it, you might be able to make some money.  Lots of people did this in the beach cities (especially Redondo) where they tore down single family homes and then built new two or three townhomes on the same lot and sold them separately.  Unfortunately, the zoning laws in Torrance are different.

In general, the desirable places to live in Torrance are to the south and west.  It's sort of strange as that makes it farther from the freeway, but it's also because the areas near the freeway have quite a bit of industrial development affecting the overall desirability.  Schools in the south and west are also slightly better and that is a major factor for people in the area.  I would recommend following the local market for the next year or two.  Major employer Toyota will be moving out of state and it'll definitely have an impact on real estate in the area possibly leading to better buy opportunities.

I was curious how often most people are filing assessment appeals.  I get solicitations from companies that specialize in property tax appeals every year and since their fees are contingent, I was wondering if there was any negative to filing an appeal every year.

Thank you for your response Cody.  Your deal sounds very enticing and I'd like to ask a few questions.

1.  What do you see the advantages of working with a smaller guy?  Any of the brokerages should be willing to service a deal that size with proper service.  Not being local to the market, wouldn't you find it more reassuring working with a larger team that can provide more data and analysis.

2.  Was the property you purchased listed at that price or were you able to get it after a steep discount?  I would be ecstatic if I could find something similar or even anywhere close to that.  Nothing on loopnet seems to be within that range right now.

Thanks for any of your thoughts!

If your lease has expired, then it is understood that you are on a month to month lease.  Without knowing the specifics, the way I would approach this is to try to sign the existing tenant to a multi year lease at a rate you like.  If you are comfortable doing this, then you should do it on your own.  If not (as you have not done it in the past), you should hire an agent to do this.  If your tenant does not agree, then you should make it clear to them that your agent will market the space and that if you do find somebody that will pay higher rent, your tenant has 30 days to vacate the property.  This way the premises is still generating revenue while you find a tenant that is able to pay a higher rent.  But you should also note the risks associated with changing tenants.  The new tenant may ask for some free months rent or you may need to pay for improvements to the property so that it suits the new tenant.

http://www.dca.ca.gov/publications/legal_guides/lt...

It says 30 days for 10% or less increase, 60 days for more than 10% increase.

If I were the seller and had multiple offers, I would not tell potential buyers such information.  I would just let the process work the way it should and keep all qualified buyers engaged so that I get the highest price.  If you put in a clear offer to attract the sellers interest, then the seller will naturally inform you via their counter offers on how things are going.  Previously, I sold a place where one buyer offered asking price and three other buyers offered below asking.  I naturally countered all three and created a negotiating situation where I got the most out of my sale.

I think it would actually have a negative effect as they will think you are strange.  I would recommend that you just put in a clear offer.

Can people share with me the reputable commercial brokerage companies in Houston?  Coming from CA, I'd like to understand who are the large market players.  I see CBRE, JLL obviously are present, but who else?