All Forum Posts by: Elan Adivi

Hello @Shasha Jhaveri and @Carlos Altamirano thank you both for reaching out. All great advice I wish to meet and discuss more with you in the future!

@David Faulkner thanks for the input! Very good points. Yes that is precisely my plan seeing as the market is not the most stable at the moment, planning to hit real estate sales full force, build some capital and then get into it at a better time.

@Dennis Nathaniel Bennett thank you! It's great to know what you do and that your in LA, would love to get in touch. 

Thanks @Art Ritter I appreciate the input. And yes, as I explore my options further, it seems like a 1031 in this situation may not be one of them. However this other method you speak of sounds interesting, I will be sure to look into it, thanks again!

@Senika Levias I would love to attend as well, however I have previous obligations I must attend to that evening :/ Hope it goes well, maybe I will see you at the next one!

@Val C. I know a good realtor in Vegas who has dealt with SFR income properties, I can direct you to him if you wish.. PM me for more details!

Congrats bud, what an inspiring story. Would also like to know about the financing and value added/turnkey info!

What's up @Antoine Martel

Thanks me too!

I see you are in the Los Angeles area too, we should definitely connect! 

Brad,

Thanks for that info, makes a lot more sense and I will keep it in mind when making any decisions. 

As is, I think we can get around $4,500/mo for the entire property. However, if we convert the studio (add a bathroom) we could maybe increase the rent by $500/mo total because we could rent it out as a separate unit from the main house. 

AirB&B was a thought, maybe just for the studio, thats something to take into consideration as well. 

@Brad S. I do not have a hard number on the rehab cost.. somewhere between 75-85k roughly. It is our first project so we are still trying to get the hang of things.. contractor hiring being one of them haha. 

Thanks for the info on the DOM, how would I be able to find out that for myself? 

I was hoping to sell and then do a 1031 for a small multi-unit but it might not be the worst idea to hold onto it for a bit longer.. 

Second factor to consider is there is a second 300-350 sqft. unit on the lot as well which can easily be converted to a studio which would add even more value to the property, if we decide to keep it that is..

@Nick G. Thank you. Great to know that your in the area! Yes, the fact that they are so sought after and we managed to get a pretty good deal on it were the reasons we decided to pick it up, however it has been on the market for over a month and no serious bites. Try looking it up by the ID number #SR17137917 it popped up when I did the search, although when I searched it on Zillow for instance, it wasn't showing up as for sale. As far as I understand they pull their info from MLS so it looks like there very well could be an issue. Your assistance would be much appreciate!