All Forum Posts by: Jackie Lin

@Chu Li

Every market is different and every brokerage is different

I would suggest doing some drive around your local area and see which brokerage signs do you see more frequently.

Also do some research and see which brokerage is better for new agents.

I think once you have the last two units filled, your appraisal would definitely come in higher. Don't worry about the bank side yet, try to finish the two units and get them filled. 

The Marin County Board of Supervisors Tuesday will consider adopting an ordinance that requires just cause for terminating a tenant's rental agreement.

If approved, the ordinance will take effect Jan. 17, 2019. It would apply to all properties with three or more units in the unincorporated areas of the county. It stipulates reasons for when a tenancy can be terminated or a renter evicted.

Under the ordinance, a landlord can evict a tenant "for cause" if a tenant fails to pay rent within three days of receiving a written notice, violates a material term of the rental agreement or uses the dwelling unit for illegal purposes such as distributing a controlled substance or using, manufacturing or possessing weapons and ammunition.

Landlords also can evict a tenant who make threats to commit a violent crime resulting in death or bodily injury, or who continue nuisance or disorderly behavior that destroys the peace, comfort or safety of the rental complex.

most banks will like to see that you have own the house for at least a year before you can put it down to get a HELOC. However, if you rent it out, you can't technically keep the heloc as that property is not your primary residence. if you rent it out, you will have to get a line of credit which is similar to heloc but with a higher interest rate, since you will be putting your investment property up to the banks to get the line of credit.

Hi, welcome to BiggerPockets. I am an investor with a combination of properties from SFH to multi unit building and real estate agent in Gettysburg . Let me know if you have any questions or want to connect

Hello Jimmy, Your numbers looks good, I think you mention that would concern me would be your ability to refinance the property. If it would be hard to refin the property, I would just put up the 20% and have the tenant pay off the property for you in 10-15 years. One more thing, make sure you do your due diligence on your tenant screening, I have lived in york couple years ago and good tenants are hard to get, if you know what I am saying. Good luck brother! Hope this helps

I have properties in PA, when tenant comes to me when section 8 vouchers, depending on location of unit, I sometimes don’t take it. I am not being discriminatory if the only reason is base on my liking to the method of payment. It’s not like I am discriminating base on race, age. Sex, sexual orientation, or physical disability. So if you don’t want to take section 8, you don’t have to take it. But don’t use to features as an excuse to not take section 8. If you don’t take section 8 for that property, DONT take section 8 for everyone applying to that property Hope this helps

Call up a realtor in the region and ask to purchase this type of property and see what their educated guess is.

If I were you, I would upgrade them to exterior doors with 2 hour fire rating, not only it is good for sound barrier and fire barrier, it is also safer for the tenants. A peace of mind knowing your neighbors can’t get into your unit with a hard kick to the door

@Boots Bonner

I have done some remodeling in my units before, the one i can advice you on is the fireproofing. To have the duplex be separated by a firewall would require you to put up two layers of 5/8" fireguard drywall on both sides. That a total of 4 layers of drywall on the wall. I don't know how much are between the two units, the cost for one piece is about $12 for a 4'x8'. 

Calculated how much drywall you will need plus 15% for extra materials and another 25% for labor. 

Hope this helps