All Forum Posts by: Judy Parker

Hi,

I am in Los Angeles California.

1. Is it hard to get city permit to turn a sun shelter room (which is already permitted) into a bedroom? should i do it or should i just built it and if no one reports it, its fine.i am planning to rent out the room. i know it takes a lot of work to get permit . is it easy? or should i just built it?

2. are you required to have a patio becuase i am planning on converting the patio (which is the enclosed sun filter room) into a bedroom.

3. if i go to try to get the permit to convert it into a bedroom how long does it usually tkae 1 week 3 weeks? how long for permits and inspection and everything. whats the process?

4. if i want to make the house look good and put a big fountain out in front do i need to get a permit for this?

I will appreciate all your inputs.

Thank you.

Judy

Hi,

1. How hard is it to get a commercial loan, if i want to buy a $1million appartment building? How much income must I make and how much money must I have down? How do most people do it I dont think people who buy $1million have 250k salary do they ? what kind of salary must you make on your tax return in order to buy that kind of building? And how much must you put down? I dont think donald trump had that kind of income when he bought his hotels when he first started. What credit do they check to get large commercial loans? How do people do this?

Thank you.

Judy

Hi,

One of my friends said that he bought a house directly from the bank. The bank had it listed for 500k or something and he offered 250k cash and they took the deal.Is it possible to buy it directly from the bank and not go through their realtor? I think it would be faster and you can get better deal if you buy it directly from the bank.

A. will the bank even talk to you I dont know how it is possible because some banks dont want to talk to you. Do you just keep calling until you get a hold of the right person?

B. are there places that I can check of bank real estate before they get listed on the mls so i can start making offers on these house?

Thank you again.

Judy

Hi,

1. I make 40k a year, would I be qualified to get a commercial loan?
2. How is commercial loan different than personal loan?
3. I already own a house, mortgage is 1400 per month and someone is paying 1600 and I want to buy an apartment building is it possible with my salary of 40k?
4. How do people normally do this?
5. In your opinion is it better to buy houses and rent it out or buy commercial property like an apartment building and rent it out or buy an office and rent it out? What do you guys think is more profitable?
6. Is commercial loans really hard to get?

Thank you again.

Judy

Hi,

I want to get a second house but I already have a mortgage.

A. What if one of my friends is willing to do the loan but he doesnt have the down payment is it possible that the loan be under his name but the house (the title will be under my name?)

B. if you do a partnership 50/50 for the house how do I protect myself from any problems that may happen in our relationship in the future?

Thank you for your help.

Hi,

My aunt makes about 40k a year and she purchase a house that runs around 200k. She has tenants that is paying her entire mortgage for that house. It is a 2 unit house she lives in the back and the renters live in the front. She wants to buy another house as soon as possible so she can rent it out again. She has down payment for a second house but do you know
A. If they will let her borrow again (get 2 mortgages for 2 different houses? Because she does have income from the renters to pay off the first house.

B. She has enough downpayment to pay for the second house.How can she buy a second house asap?

Thank you again.

Hi,

When is the next real estate meeting in Los Angeles I would like to attend.

Thank you.

Hello,

I have a few more questions. When one of my family member was buying a house the seller had to pay 30k to move the tenants out of the house.
A. Is it hard to kick tenant out? Why do you have to pay tenants to kick them out? They didnt really tell me much is it because they have been paying rent.
B. What if they dont pay rent and they dont want to leave how can you kick them out? If they dont want to leave do you have to pay them money?
C. A lot of people are shopping around a lot and just looking around for rent how do you get them to commit to rent now?

Thank you again for your feedback.

Judy

Hi Guys,

Thanks so much for the responses. Most helpful.

Thanks!

Hi,

I have a person that wants to rent out my house. She only has money to pay for the first months rent. She just moved here from another state and she doesnt want to pay hotel. So she doesnt have a job but she says her daughther will help her. She basically makes $8 per hour she was a babbysiter for 2 years. So she say she can afford rent and she is applying everywhere . She will come up with the deposit in 2 weeks.
1. should i rent it to her?
2. if i rent it to her how hard is it to kick her out if she doesnt pay rent?
3. i heard it is hard to kick people out... is that only if they pay rent? (you ahve to pay them 30k? to get them to move out?)
4. if they dont pay rent is it easy to get them out? what are my options?

I have another guy who is a bounty hunter he says he has the money he wants it for his fmaily he is moving from another state

4. should i rent to him? what are your thoughts.. he has no felonies.. i think others dont want to rent to him because he is a bounty hunter.

Awaiting your feedbacks.

Thanks