All Forum Posts by: Account Closed

@Jo Zhou

It seems like you have your solution.  Deny applicant based on the fact it's a pet (for now).  Fire your property manager which will take 30 days.   In the meantime Rent the unit to a qualified applicant.  You don't need to hold the unit open until they get their pet turned into a service animal.  I love the fact that the pm attorney told the applicant how to game the system and to sue you as well.  

@Shiloh Lundahl

I have both an equity and debt position in private money lending.  Returns have been from 10% to 30%.   I protect myself by only working with local developers.  Furthermore I'm on title in first position only.  I don't do gap lending I won't take a second position.  Hope that helps.

@Kusum Chanrai

All of the people giving you "advice" are trying to sell you on investing with them.  Be very careful.  I am a mother of 2 boys 5 and 10 so I know your desire to spend your time with them as I have the same goal.  I recently quit my job so I can focus on my family fully.  I invest in real estate passively as a capital partner.  I invest a little over $1MM and I am funding 2 deals currently.  I would be very uncomfortable with my money leaving Los Angeles.  I can drive to my properties and keep an eye on their progress.  Deals go bad, people steal your money or can just be incompetent.  Should this arise I have zero interest in getting on a plane and rectifying the problem.  

My advice to you is to look for opportunities locally.  You do not have to invest in MF to remain passive.  Perhaps partner with a local developer or contact a hml to see if they broker loans.  Furthermore consult an attorney before moving forward.

Good luck

  B.B. 

Gggyuq

@Monica George

You might want to reach out to @aaron mazzrillo I know he does a lot of business in your area.  I know he wholesales properties as well.

Good luck

Breast implants 

wow are you trying to tell me a 1 year old is making noise?  Unbelievable.  I thought toddlers were supposed to be seen and not heard.  I had the same issue with my next door neighbor.  My demon 4 year old kept making noise and just refused to stop playing and laughing sometimes loudly.  Now mind you I own my townhouse so it's a bit different.  I encouraged him that the next time my demon son disturbed him at 6 in the afternoon please call LAPD...and he did.  LAPD issued him a big fat ticket for wasting their time and told him if he calls again more tickets were coming.  Let's just say I chuckle every time I see him. Next time you ride past a school what do you hear?  I hear lots of noise and laughter.  I've yet to meet a demon 1 year old but a lot of nasty entitled adults.

@Justin Madison

I believe given your experience you should not be lending in 2nd position.  As an example we recently had to get a second position gap for 3 months due to another house falling out of escrow.  The loan was 350k for 3 months.  The rate we gave was 20% annualized.  The reason we did this was 1.  The loan was very risky 2) that's the going rate experienced investors charge.  We paid her off after 3 months.  If anything goes wrong with this deal-and believe me things go wrong all the time, hard money will muscle you out in order to protect their investment.  

I would pass.  In the future work out the deal where you are both on title in first position.  I would look at how hml securitize their investments and copy the professionals.  If a hml won't lend in 2nd why should you?

This is a recent property that I did with a new partner who has a 401k.

And there you have the whole point of this post.  To solicit new investors. 

This is the worst most transparent sales pitch there is.  He just needs to stop.  Hopefully even new investors can see this is just a big infomercial.  Sad.