All Forum Posts by: Nhi Nguyen

@Nathan Gesner

Thanks for the reply.

The estoppel is to certify the lease agreement ended couple years ago and tenants didn’t pay that much.

Tenants said they will move out in 30 days. I’d like to know if anything we can do proactively. And if he doesn’t move after 30 days, what are my options.

Hello all.

We're closing a SFH in Northern CA. It has tenants that didn't pay total about 12 months or so in the last 2-3 years.

Seller got them to sign an estoppel to move out 30 days in exchange for the late payment forgiveness. I’d like to learn on my options/steps to take just in case they don’t. Please advise.

Thanks in advance.

Thanks @Erik Whiting & @Michael Ealy

Yes I am looking for MF of 10-30+ units as stated to buy & hold. I’m not wholesaling them back.

And yes, contacting local MF agents is my main focus at the moment.

My questions were if you guys have great results with wholesalers bringing you deals or not; and some tips on contacting expired listings (these are the ones I actually looked at - but price was not in my ballpark so I skipped).

I understand about listings on Loopnet, Zillow, and MLS. That's why I don't jump on any deal that doesn't meet my criteria.

Right now, I do save all the interesting listings to get updates; and follow up with listing agents for chance to get good deals.

My operation is not big yet. So for now till end of the year, my target is to get 20-40 doors, which to my estimate accounting for only 2-4 deals. That’s why I don’t plan to go full blown in term of acquisition until I get my feet wet.

Thanks again.

I know about getting a list and contact them using different methods. I don’t have plan to do that yet since I’m only looking to get my first 1-3 deals. Also, I don’t have the resources set up for it at the moment.

So, at this time, I mostly search/get deals from:

- loopnet

- mls

- local agents relationships

I’m also looking into getting deals from wholesalers but I don’t know any good wholesalers in this space around my areas (Bay Area, CA). Tips would be appreciated.

There are a couple of deals I looked at, but the listings have been expired. I really want to approach the sellers on my own. What should I do?

Thanks

Good day everyone

I’m looking to acquire some MF properties in Northern CA and most of them have tenants in MTM rents that are lower then market.

CA passed new law to cap the rent raise.

Once acquired, I’d like my new rules in the leases/contracts, and of course new rent rate.

How should it be done?

Thanks.

@Robert Toste, JADU has to be within the primary residence area, with max of 500 sqft in size. You can expand up to 150 sqft for this 500 sqft to accommodate for ingress/egress purposes only. So when you build a detached ADU, you can't have an JADU as part of the new build. You have to convert at least one of the existing bedroom of your main house toward the space allotted for the JADU.

Each city should now have some type of "ADU check list" as part of the planning process. Itemized and pretty clear. Try it out. :)

I just looked at my renewal and noticed the premium is spitted into 2: general liability and property.

Questions:

- Do you require tenants to buy renter insurance?  What's the minimum they have to buy?  Any recommendation for where to get it from (for properties in the Bay Area)?

- If you have tenants buy renter insurance, what's the min we have to get for the property?  Recommended carrier?

Thanks

Thanks all for the great replies.

I'll add individual meters for sure as soon as I could.  I'm curious how successful people are with buy-out, and how much it usually cost.

@Account Closed: I'll call you this week.  :)  

@Sandeep S. how it's going?  Are you still holding lots of properties in Hayward?  Are they mostly MF?  Pls PM your number. 

Thanks 

Hello all BPers.

Happy New Year to all!  Hope everyone is bank-rolling lots of $$$ at new year already!  :D

I've been doing mostly flips, only some of buy-n-holds in the past 10 years (some SFHs, and some MFs, all in CA). This year my main plan is to finish all my flips, pull out all equity (cash out or HELOC) to mainly focus on buy and hold MFs.

I know most will advice to go elsewhere other than CA.  I hear you.  For this thread though, my questions are on some properties I'm looking at in Northern CA.

1) What's the best methods (and associated costs) you've been using to buy-out tenants, specially in the Bay Area?  

2) For current MTM tenants, how to go about having them paying for utilities?  Right now it's not separately metered yet.  Can we just add individual meters and require everyone to pay separately?  

3) Please share your experience on remodel cost pass-through.  

Thanks much.

@Joe Splitrock

You are absolutely dead on. These are small cottages and they vibrate like crazy when the train passes by. The closest units are probably 30’ or so only from the tracks.

I’m not saying I would build one: but how much would a tall wall (like those in freeway) help in these situations?