All Forum Posts by: Tony Chen

Thank you guys for your inputs.

Yes, I have the house possession. Just wondering if I could start working on the house when the PD told us not to move anything till the warrant. Any thoughts?

HI!!! Need HELP!!

My tenant turned my rental house located in Inland Empire, CA to a Marijuana Grow House. We found out about this few months ago after the tenants stopped paying the rent. We went through abandonment process to enter the house. We then found out the tenant tried to grow marijuana in it, so we called the police department. They came and told us they will need to issue a warrant to collect evidence and told us not to do anything. Now, it's been couple months, and  we called the police department several times and still no information about the warrant. This is really frustrating because we cannot start the restoration process and we are just keep losing money if this continues to happen. So my questions are, 1) Do I still keep waiting for the warrant? 2) Is there a way to accelerate the process? 3) Should I get an attorney for this? 4) please kindly give any suggestions..

Thank You

Help!!

Recently got a letter from a small claimed court. Our ex tenant that just moved out 2 months ago is suing us and the management company for not up keeping the condo so it's inhabitable to live in there. The tenant only lived there for one year. This is a 1 bed 1 bath condo in San Diego, California. We have owned this condo since April 2014, and we lived there for couple months. Before we moved out, we repainted the wall, washed the carpet, make sure all appliances were in working condition, and cleaned the whole condo. In this case, what should we do as the owner of the condo? Please advise

Thank you

Tony

Hi All,

I am trying to purchase this SFR and the lot size is listed to be 9,500 sq ft. The seller has accepted my offer and we have done the inspection. However, when I was there for inspection, I felt the lot size is not as big as they listed and it should be around 6,500 (there is a similar house around with same dimension). Appraisal will not be conducted until this coming Thursday which may be too late as it will be passed the 17 days contingenc. MLS and property tax both show the lot size is 9,500 Sq ft. What are my options here? Please help

Tony

Hi All,

I am trying to decide which property to invest in. All inputs are welcome. Both are at the same price

Property A: Lot is 7,000 sq ft and the house is 2,700 sq ft. 4 bedrooms with an extra room that can be converted to another room and 3 bathrooms. It needs work on restructuring 1/4 of the backyard and some cosmetic work inside the property. 3 car garages.

Property B: Lot is 6,600 sq ft and the house is 2,500 sq ft. 4 bedrooms only with 3 bathrooms. Everything is well kept and is in really good condition (Like a model home). This has a 3 car "tandem" garage. 

I want this to be a buy and hold property (at least for now). Which one do you think will be a better investment (cash flow wise and value wise)? Thank you

Hi All,

Thank you guys for all your opinions. I was shocked to see how many people responded to my post. Again, thank you!!

From reading all your posts here, i think California is probably a good place to invest if the goal is investing in property appreciation. On the other hand, if we're looking for good cash flow, then other states would be a better area to invest. I think both sides have their pros and cons, so i would need to decide which side that i feel more comfortable with. I'm more comfortable with southern California as i know the neighborhoods a little more than other states. As of now, i have only Zillow, Redfin, Trulia, and Realtor as my sources to find out the neighborhood information, and sometimes i don't know how much trust i can put into it. So staying in the area that i'm familiar with is the only way i can do now. 

anyways, thank you for all your inputs

Hi All,

My name is Tony. I'm a newbie to this forum and relatively new to the real estate investing world. I'm interested in buy and hold as the rental income could be a great source of passive income. I do have a rental property; however, the rent could only cover mortgage, insurance, and property taxes (may be Southern California is not the best place for me to invest in). Anyways, I'm hoping to learn a lot of information on finding the right properties to invest, and gradually helping other people with similar interests.