All Forum Posts by: Hai G.

Thanks @Scott D Burrows, @Ray Johnson. Super helpful, especially the advice on talking to commercial department. Would love to hear more leads from the forum as well, these are great starts.

Does anyone know of any financial institutions in the Bay Area that offer HELOC on investment properties? Looking to take advantage of the equity through years of appreciation but big banks don't do HELOC against rental property. Any leads would be greatly appreciated.

Thanks!

Hai

Hi BP,

Does anyone have recommendation for good real estate lawyers in the San Francisco Bay Area? I’m looking to get some advice on a potential dispute on waterline easement. Thanks in advance.

Regards,

Hai

Thanks for the replies. I ended up doing both and the unit is now orders of magnitude much better in terms of airflow and heating time. The ductwork before was done very poorly and the heating guys redid the entire map in the attic.

Hi BP,

My rental unit (2bd 1100 sq ft) only has 3 total air vents for the HVAC system. This results in the house heating up very slowly. I’m looking to change this.

A heating guy said it’s better to enlarge the ductwork (currently 6”, suggested to make it 10”) than to add air vents to increase airflow. I was wondering if it’s better to add more supply vents as the airflow seems fine from the existing vents, but there are just too few of them (and spaced too sparsely in the house).

Any thoughts from the community?

Thanks, 

Hai

It sounds like you've already done your comp so price shouldn't be an issue. If you're getting no traction from a traffic perspective, I would definitely start by examining where the property is marketed (e.g. Zillow, Craigslist, etc) and how good are the photos, description, etc. Those are crucial to get right.

I'm looking at a situation where the seller is trying to back out after he has accepted my offer but I would like to proceed with the transaction.  Has anyone encountered a situation like this?  What was your experience like and what did you do?

Thanks!

As others have said, it depends on your goal.  Personally I would buy more if you have the means to get a conventional mortgage.  I'm of the camp that interest rate today is as low as it gets, and locking myself in with a cheap loan is worth it over the long term (I'm a buy and hold type). 

Thanks, all, for the advice.  I like @Tony Christian's suggestion of asking in writing for the rights to evict be transferred to me once the transaction closes.  

@Kelly N. how long will your wait be?

Hi all,

I'm closing on a Triplex in the East Bay.  All three units are rented out.  However, the tenants in one of the units have not paid rent for the last two months and the current owner has served an eviction notice prior to the transaction with a move-out deadline in three weeks.  

My question is, as I take over the property, how should I ensure this eviction goes smoothly? I'm getting a copy of tenant leases (might not even be available) and a copy of the eviction notice to make sure I have all the documentation if further action is needed, any advice on things I should watch out for?

Thanks in advance for any insight,

Hai