All Forum Posts by: Khoa Ha

Hi @James Mela,

Thank you for the information. I will check that website out.

Thanks,

KH

Hi BP,

Not sure if there is a quick answer for this or not but let say I wanted to mail out "I Buy House Cash" post card. If I do not have a list of address and wanted to get one for a certain block/zip code where can I get this information? I know I can manually go through Zillow and get the addresses but I hope there is a better way to retrieve this.

Thanks,

KH

Hi @Dev Penna,

This is just my personal experience but if you can take the time to qualify for a section 8 tenant then it best to start out with them. One reason is that they will be more stable than regular tenant. Of course most likely you will receive lower rent from section 8 but it will reduce a lot of risk as well. My family started renting out in 2009. The first few years were great. However, within the last 3 years we had to do 3 evictions. Each one costing us upward to $8,000. Even a tenant that lived in our of our properties back in 2009 caused trouble and got evicted. Section 8 not only keep the tenant in check with keeping the property in good condition but they also limit the number of people that can be living under one roof. This will help reduce your maintenance fee as well. And since they are stable vacancy rate might be reduced. Anyway, if I have to go back in time I would try to qualify all of our tenants through section 8 so that the income stream is more predictable.

Good Luck,

KH

@Mike H.

Your 10% reduction seems to work with the current property I am bidding on. I will keep watch for this property and hopefully get it once they lower it low enough. Thanks for the info.

Thanks,

KH

@Mike H.

I have access to the MLS too and the HUD homes are listed on there also.

KH

Hi @Mike H.

Your information is very informative. I just posted a similar questions then found your answer here. Anyway, I have a different question now. Is there a way to resubmit a bit or do I have to fill out all the information again every time I put in a bid?

Thanks,

KH

Hi BP,

Does anyone have experience bidding on HUD Homes? I have submitted a bid in and they responded with a minimum bid that I can counter on. I was wondering if it is possible to bid under this minimum bid or if I should let it go if the minimum bid is still too expensive.

Thanks,

KH

@Steven Smith

Definitely work with a realtor. For a buyer, there is no benefit of working alone. Without a buyer agent working with you you will have access to the MLS data and can they also help you out with the paperwork. Also, buyer agent in my area give credit back to the buyer. I am not sure how it in LA but I do give cash back to my buyers all the time. So to answer your question, I dont know any reason to not work with an agent as a buyer. However, you do want to let the agent know what your intentions are right off the bat. Some might not be willing to work with an investor if the investor require them to do more work than a typical buyer. Take myself for example, I am looking at properties in Riverside county to invest. Me (agent) will not drive me (investor) around to check out all the properties in Riverside that me (investor) want to check out since me (agent) know that me (investor) will put in hundreds of low ball offer (20+% below asking). However, me (agent) can help me (investor) to draft up offer and submit subject to interior inspection. Only when the offer is accepted will me (agent) show the property to me (buyer). Also, at closing me (agent) will credit some of the commission back to me (investor). Hope I didn't confuse you. The reason I use myself is to not offend any agent/investor on here.

Good Luck,

KH

@Pawel N.

I just evicted one of our tenants. After the 15th of the month I figured I have to initiate the eviction process right away. We just had our judgement last week. In the end we lost about 2.5 months in rent that we need to try to get it back from collection. We did pay the lawyer and servicing fees of around $1000. In addition, now we have to fix up the unit and get it ready to be rented as soon as possible. I am telling you this because once they get themselves into a situation that they cant even pay their rent it is very hard for them to fix it. For me, as long as I have a firm date of when I will get my rent I can let it slide with a late fee. Once they postpone it 3+ times or stop communicating with me then I rush to the eviction lawyer. The first time we waited we lost 4 months of rent. This time we  acted quickly and were able to get possession back in 2.5 months. Remember you have a mortgage to pay too so dont let them screw up your investment with lag of financial discipline. Also, if you are in the middle of the UD lawsuit please go through all the way so that they have it record on their record so that other landlord are aware of it too. 

KH  

Hi All,

Have seen a lot of happy Cozy landlords on here. One question, I just set up an account and play around with it. I know that I can set up a recurring collecting date. However, what if I wanted to set up a payment request for let say the deposit and first month rent? How can I set that us? Or do I just use their "Fixed Term: Rent collection will end after a specific date" function to do this?

Thanks,

KH