All Forum Posts by: Gaurav Bahal

Thanks @Bill B. and @Account Closed for your input. 

Thanks Bill. I will use these zip codes to start looking for properties. I understand that's it very hard to get a good cash on cash return in these Vegas neighborhoods but I am hoping for areas with future appreciation potential. Since you have on the ground knowledge, do you think these areas have that?

Hi,

I live in Bay Area (East Bay) and have been thinking of buying a property either for primary residence or buy 1-2 investment properties in Orlando/Vegas. From what I have researched the new tax rules for high income W2 earners (especially in high tax states such as CA) makes tax deduction on primary residence less relevant.

I do not have much experience in RE investing so want to double check with other investors/locals if it makes more sense to buy for primary residence or investment?

Thanks,

Gaurav

Hi,

I have started exploring the Las Vegas MSA for SFR investment. Can current investors/locals on BP recommend some areas/zip codes as a starting point for my research. I was thinking of the Summerlin area since there are some SFR for ~$250K going for rent at ~$1500. Is that a good area?

Thanks,

Gaurav

I am planning to buy a home for my retired mother in law to live in and was thinking of charging her rent. Any thoughts on if that is better than buying it as second home and have her still pay us to cover the mortgage?

Hi All,

I have a 3 (550 sq ft per unit) unit MF with a separate 1.5 Ton HVAC installed in each of the units. One of the HVAC systems broke and my property management's AC vendor has given me a quote of $3600 to replace it. Just wanted to know if that seems like a reasonable quote or am I being overcharged. I looked up the cost of the units online and it is around $1200.

Thanks

GB

Hi All,

I have a need to buy an apartment in a 55+ community (Laguna Woods, CA specifically) for my wife's mom since her current place does not suite her aging lifestyle. I am wondering these apartments are easy to sell or rent later on in case my wife's mom decides to move some place else.

Thanks and appreciate any advice. 

Hi BP members,

I have a multi-family in FL that is handled by a property management company. Recently a tenant vacated one of the units and the property management company wants me to sign up for utilities in my name (to help get basic rent-ready work done in the unit) until a new tenant moved in. 

Is this typical for PM companies in FL? I would have expected them to handle these situations without getting me involved. 

Thanks,

Gaurav

Thanks everyone for your suggestions. I was either going to give the paperwork over to collections or write off the loss but the tenant got back to the PM and offered to pay all dues. Lesson learnt from your suggestions - avoid month to month leases, always stay current on rents (as much as possible) and charge higher security deposit. 

In the past I have been lenient on charging tenants late fees but from now I will make sure to do that. Most times it's not that they don't have money, but that they don't prioritize rent over other payments.

@Michael Haynes This property is in Tampa MSA (Holiday) and I see quite a few 1B/1B going for ~$550 pm. In San Clemente, you can't put a tent in someone's backyard for that price :-) Oh CA!

Hi BP members,

I have month to month tenant who never showed up for his move out inspection and has stopped responding to our Property manager's calls. He owes ~$500 (500 November rent plus 500 damages minus 500 security deposit). Does it make sense to go to a small claims court for this amount? Any ideas on how I can avoid this from happening in the future?

Thanks,

Gaurav