All Forum Posts by: Kalanie Tran

I recently purchased a SFH in highland village that comes with a huge ADU about 800sqft on top level, and 800sqft on bottom. Top level is already mostly done and in turnkey condition, rent ready. Bottom, still needs work. My question for local folks, how strict is the city in terms of permitting and allowing the use of ADU as a rental? I was told by the city employee that even if I got a permit for the property, only the owner can live in it. That seems weird to me, I mean…why does it matter if owner live in it, or if it's a rental? If caught unpermitted, what's the worse scenario?

I appreciate any local insights on this..

@Brad L. Great advice. But with the current market the way it is, is it even possible to find anything decent that would meet 1% rule anymore?

I want to ask your opinion on which strategy to take to increase profitability

I’m thinking if I should sell my CA rental now before I have to pay capital gain tax

Cuz I’ve only rented out 2.5 yrs

Still within that 5 yrs time, that was my prior residence

...next thing is...

A) hold on to the $300k cash and wait out a yr, but when market cool down a bit

B) buy now in Austin and Orlando

C) invest in vanguard funds

If I sell, I’m hoping to buy 2 newer properties in the 1990s-2000 built

My current rental is 1950s built...old plumbing, and outdated exterior...I feel major maintenance is bound to happen in next 5 years. If I wait, I’ll have to forfeit on tax advantage...

@Hadar Orkibi. On the contrary,I appreciate true opinion from actual investors about their good or bad experience with certain PM. As an out of state investor myself, BP is one of the valuable sources for me to find reliable information, and this is one very crucial key element to successful investing. While you might have excellent experience with the PM company, it is equally important to hear other investors bad experience. Maybe the owner never knew how the team operates and can use these opinions to make improvements for sake of our fellow investors. You did mention that you have 100+ doors, could it be that you’re receiving better service than small time landlords with perhaps one or two doors? I’ve seen bad PM with my properties in other areas as well and I too would not have problem stating truth on a public forum as I see it. There’s no point of the forum if all we’re getting are compliments and masking the ugly truth.

@Rachel H. True that. Married or not, you gotta decide life for yourself first. It is your life after all. If RE is what it takes for you to rise up and feel like a man again, just do it. Once you have the money, it will probably change her mindset and get interested too.

Hi BP,

I'm in CA and my contractor is in Cleveland where the duplex Where both thinking of partnering up to either do a BRRR with a Mutual LLC or just fix flip and sell. Ideally, I'll be buying the property in cash and pay for all fees involved w acquisition, then he'll pitch in labor and material. Has anyone here have experience with this type of partnership and how do you make it fair for both? PP is $18k, estimate for rehab is $30k. If anyone can share a contract they've used, I'd appreciate it! Thanks guys!

@Manuel Encarnacion I have rental in CA and my rent is $2600/m, I require full first month and full $2600 deposit at sign of contract, at most I can wait til before I hand over the keys. No exception.

@Jonathan Greene funny that you mentioned areas with Starbucks and Whole Foods being ripe to invest...I’ve heard a few said that as well but not sure what’s the reason of that statement ?

@Tim Windhorst very nice!

@Ben Anderson I would just ask to hold deposit only.