All Forum Posts by: Geo Tan

Yes! I've had to utilize the late fee more than a handful of times. I usually do around $100 for a unit that rents for $3000. Same with bounced checks.

Like most people said, you can find other agents who co-list (means you need to hang your license and pay the fees) or find an agent who is open to paying a higher than average referral fee. The second option would be ideal since you don't have any of the blowback of issues on the listing if you are just a referrer and not the listing agent. Feel free to reach out if you'd like more details!

I usually do a full round of all the usual websites like you mentioned.

Usually consists of zillow, trulia, apartments.com, craigslist, hotpads, zumper, etc. All my tenants come from various different sites so wouldn't pinpoint one as being the best. More the better IMO.

Hey @Megan Alice!

Just sent you a message with my personal experience in the past that's somewhat similar to the dilemma you're facing now.

Great stuff Shawn! I'd love to hear more about those projects as well.

Hey Shawn!

Just wanted to say welcome to BP! By far the best investing forum I have been to so far. I'm on the same boat as you in regards to I got my license and worked the brokerage side to learn a bit more for my personal investing. Through the connections I made through my license I was able to pick up properties I wouldn't have otherwise so I'm glad you're taking the time to set that up on your end. Only warning I heed is the market is shifting so many of the flippers/developers in the LA area have been cooling off on the number of projects they're working on. Many are seeing longer times on the market when offloading their flips. Not saying the deals are no longer there but many have been changing their numbers a bit to lessen their risk a bit. Hope that doesn't discourage you on potentially doing projects here since the opportunities are definitely still there, just a tad more scarce. Best of luck with your real estate ventures and always feel free to reach out with any questions or just to talk some real estate.

Just recently attended a conference and most of the flippers that were on the panels were saying what the vast majority here are, in regards to a lot of flippers slowing down and making spreads larger. They've been focusing more on offloading their remaining flips and aren't acquiring any new ones until they know how the market goes. Interest rates are still going up and many development groups have been saying that it's going up so they have a cushion to drop back down to when the correction hits full momentum. It's a very odd time in the market, especially in LA County in my opinion.

Hey @Josh Howard,

It's definitely a challenge finding properties that cash-flow in LA but there are properties left if you take your time. After searching for close to a year I was finally able to find a turnkey cash-flowing fourplex over in Boyle Heights. The price point plays a big factor on it since most people are looking for a cash-flowing duplex or triplex for less than $600k. I paid around $1.5MM for my fourplex and it cash-flows around a few thousand each month. It definitely helps to get some developer contacts so that you can be first to know about new development projects on multifamily properties. So just keep viewing all the properties you can find and make as many contacts as you can to expedite your search. Always open to answering any questions you have on your end to the best of my knowledge so feel free to reach out. Thanks.

OFF MARKET 5plex in Boyle Heights, Los Angeles.

Great public transportation in greatly gentrifying neighborhood. Two duplexes and a SFR in front.

Roughly 6700sf with pro forma rents of $15.4k a month. 1x4b3ba unit and 4x3b2ba units.

Turn-key Non rent-controlled redevelopment project to complete soon.

Asking $2.5M

I actually own one of his projects and can say that it's been doing well for me so far.

Please feel free to contact me with any questions on the subject property.

Exactly Jacqua. Hopefully Boyle Heights becomes a Silverlake rather than an Arts District.