All Forum Posts by: Eric Chiu

@Account Closed the NARPM definitely a good place to start, I was only searching for PM from yelp.  Also thanks for those questions it will come in handy.

Hello BP members, I am planing to invest in multi unit in those cities and would love to talk to property managers or investors about them.  

Hello BP members, I'm looking at a property in LA, it has 2 units on the property with 14k sqft lot. According to LA county assessor the zoning is LCA1* can I build a 3rd unit with proper permit and possibly with a new address and water meter? What is the process of getting such permit? Thanks in advance!

Hello BP members! l am looking to do my first BRRR. The biggest hurdle for me is whole rehab process, like how to find good contractors and estimate the cost of rehab. I don't know any contractors at the moment should I get in touch with one and have him come with me to the property for an estimate before making an offer? But I don't think the contractor will be serious since I haven't purchase the property and the estimate may not be accurate. Or should I find contractors to bid on the project once I complete the sale of the property? It will be great if I can get some step by step guide as to how to get accurate estimate and how to go through the whole rehab process.

Hello @Christina McManaway thanks for your advice. I haven't decide what I'm going to do yet because my previous offer just got declined =(  If I do ever land a deal it will be my first rehab project, I guess I can do the the design work just by looking at some reference catalog or get ideas from looking at new houses.  I may consider hire a general contractor if the property needs a lot of work.  

Thanks @Chris T. for the recommendation. 

Hello BP members!  I am looking into invest in old multi units (build before 1960s) in around LA area. I want get some advice as to how to find good contractors or general contractors, what kind of steps do I need to take to screen them, and what kind of questions I should ask? 

Thank in advance! 

Great point @Brent Coombs! I am pretty disciplined if not I would of bought a 911 with that money =) The main issue is, it is hard to find deals that make sense in my area (SoCal). I want to get into commercial real estate but that's for another discussion. 

@Kyle J. the reason I can't deduce taxes on my investment properties is because my income had gone pass a certain amount, the only way to do it is through a line. Even then I agree is really risky, and after talking to few other people I don't think I will do it. 

@Brent Coombs, the market value for my primary resident is about 700k, and investment property are 150k and 200k. Return on investment is about 10%. Yes this is a decision solely for tax reasons and you are right I rather have it fixed than variable. That is why I am hesitant to do this.