All Forum Posts by: Jonathan Cisneros

Kawika,

I too would like to find out about this. I'm a Veteran myself. Feel free to PM me.

Hoorah

I have been blessed and acquired my first rental in Los Angeles CA. It's Triplex, cash flowing $600 a month. I have around $15,000 cash saved. Should I look for my next Real Estate Flip, Or my next rental? 

If so, for either option. How would I with such small amount in cash saved? Will a HM Lender even lend to me right now? How would I cover monthly mortgage while rehabbing the property? Will HM lender cover 100% of construction? Will they cover upfront or by drops, for the construction cost?

 Nathan,

I genuinely appreciate your advice!

Yes! I will purchase "Every Landlord's Legal Guide."

 Thank You so Much.

Can anyone recommend a reputable property management company here in Los Angeles ca? I have a Duplex. Fully Occupied. This being my first rental, should I find a property management software instead?  If so, which software?

What’s the best way to collect rents? When is a tenant responsible for any service/ maintenance calls? 
How can I keep a file on all property service calls from each tenant?

(2 tenants).

Are Landlords responsible for any damages to tenants personal property when maintenance crew are completing service calls in the tenant’s unit? What contracts should cover these questions?

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $950,000
Cash invested: $100,000

Spanish Style Duplex 2/1 each unit. Fully remodeled. In the heart of Los Angeles Ca.

What made you interested in investing in this type of deal?

I’m building generational wealth through rental properties.

How did you find this deal and how did you negotiate it?

Off-Market from another Real Estate Investor. Not much to negotiate. It was straight forward!

How did you finance this deal?

Traditional lending

How did you add value to the deal?

Everything is newly remodeled. Also pending Approval from city to convert 4 car garage into ADU.

Lessons learned? Challenges?

Being able to charge rent that cover’s mortgage. When renting to Homeless veterans with section 8 vouchers. There’s limits on rent.

I just acquired my first Duplex rental property. I too have questions regarding pets. My new tenant was bit by the bottom tenants dog. Nothing serious. Still, he was bit. How can I protect myself from incidents as such? What specific document? 

I’m always looking for the next deal! How can we connect??

I apologize for late response to everyone. I have not been actively using BP. So I have not seen these responses. In regards to networking with everyone, let’s get’er done!!