All Forum Posts by: Richard Chang

Hi all and thanks for all the good replies.

As Joel said, I basically "don't have a clue" and will have to "get educated".

I think the main things for me are

• to minimize property mgmt headaches 
• get a good return
• avoid capital gain taxes.

So, I will have to educate myself on NNN, TIC , DST etc and determine if this is the way to go for me as I am approaching retirement in a few years.

Thanks, Richard

@kevinhurney

Thanks for the quick reply. I'm not sure where the new property would be yet so I'm not sure which LoopNet agent to talk to.

Also, would appreciate any feedback on whether a 1031 Exchange would allow moving from an Investment Property to a Commercial Property.

Thanks, Richard

Hi all,

I have a duplex in Orange County, CA that I have held for 25 years and I want to consider an exit strategy. I have deducted 25 years of depreciation which would need to be recaptured on normal sale ( ouch ). So, I thought I heard of the possibility of exchanging into a commercial property and leasing it out for 5-10 years ( to a WalGreens / CVS pharmacy ) and then live off the income stream and avoid capital gains taxes.

So, is this possible ? Where would you begin to look for the commerical property ?

Thanks, Paul

Hi all,

Thanks for the feedback.

I'm gonna ask the tenant to show for me and the handyman as backup for now.

Remote Landlording is new to me. I will hopefully be able to talk to a few on SKYPE if need be.

Thanks, LA Guy

Hi all,

I was doing my own Property Management for my property in Costa Mesa, CA before moving out of state.

Now, I need advice on finding a person to show the property ( coordinate with tenants if necessary ). I have my own handyman to do work.

Do I need a property manager for this ? What is the commission rate and what should I look out for ? Essentially, they need to be able to 'evaluate' the candidates.

Candidates can fill out forms and email them to me.

Currently, I advertise on craigslist and other online sites with some pics.

Thanks, LA Guy

Hi all,

I see very large price increases this year in Summerlin and 89117 zipcode. Those 150K+ houses are now > 220K now and $110-125sf

Hope some of the Pros can weigh in on if this is a "bubble" or not.

Multiple all cash offers by investors has churned the market upward. Sellers don't have to fix up or do anything to sell properties.

Rich C

Hi Phillip.

Curious on how the Jan meetup went.
I'm new in LV and want to attend the next one.
Interested in learning how to buy short sales ?

Best, Rich C

Steven Hamilton II and Scott W.

Thanks guys, I guess I need to talk to the CPA to see exactly what items may be subject to depreciation now that could be expensed in the past. Since the CPA's newletter mentioned painting and plumibing, it kind of threw me for a loop.
Of course painting the outside of the house is treated differently from painting the inside.

Best, LA Guy

Hi BPers,

I saw an accountant state that [b] rental property maintenance expenses
for plumbing repairs and painting may have to capitalized and depreciated over x years instead of a straight expense[/b] in the year it is done.

I know that putting in carpet should be depreciated.

So, if you buy a new stove, dishwasher, refrigerator, heater, a/c then these should be depreciated too ?

Is this something new for 2012 ?
Am I understanding this correctly ?

Please advise.

Best, LA Guy

Hi Mike,

Saw that
Coldwell Banker Platinum Properties - Property Management Division in OC is advertising only 5%. They have a website

oc property managers dot com ( no spaces ).

I guess I need to understand all the costs and issues since I do it myself now.

Anyone have any comments on how to assess their services ?

Get a schedule of estimated repairs , painting , lock changes etc ?

Not sure why LA rate is 8% and OC rate is 6% ( rental rates higher in OC ? )

Best, Rich C