All Forum Posts by: Richard Chang

BP'ers,

Ok, I'm moving on and will continue the search.

BTW, Do you know about these websites for listing your rentals ?

I'm using these free listing services:
1. craigslist.org
2. westsiderentals.com
3. www.hotpads.com
4. www.padmapper.com ( www.padlister.com )
downloaded iPhoneApp for this one

Am I missing any ?

Thanks, Rich C

Thanks everyone, general consensus is that if in doubt then wait another month right ?

Hi again,

Additionally, I would like to know how to verify Business Income since the tenant says he is principal owner of business with a partner.
( e.g. a business tax return ? )

Normally, a tenant will have pay stubs etc. from an employer.

Many Thanks, LA Guy

Hi all,

I'm considering a new tenant for a 1 year lease who has some "unpaid bills" and accordingly a poor credit score.
I am requesting a significant extra deposit ( almost 2 months ) in additional to standard 1st and Security Deposit.

Tenant has a business which he says is doing well and allowing him to recover and get a place of his own ( was with roommates ).

I want to check his Business Credit and business landlord.

I'm in the OC, CA and need to know how soom I can start eviction if rent is late
and what provisions I need in the lease.

Also, do I need an "airtight" lease agreement and who would provide this ?
Should I consult a attorney before going forward ?

Many Thanks, LA Guy

Hi again,

Thought I'd resurrect this post as I just found out that
a Homeowner Association of 7 attached Townhomes is opting to go the Orange Oil local treatment and Local spraying route instead of the cost of expensive fumigation and occupant evacuation option.

So, it seems that even if a homeowner were to sell an attached townhome wouldn't they have to fumigate the townhome ? ( if termites were found ). And then it that case it would be problematic since all 7 townhomes are attached.

Anyone with experience with this kind of situation ?

Thanks, LA Guy

Hi Jesse, Sounds good ! If I may ask ...
Are you buying with cash or FHA / HUD / Homepath financing etc
in what general idea ?
Just trying to understand how you're doing this deal ?

Best, LA Guy

Hi Leon,

I also would like to see how you're doing with the Refi's.
Terms / issues etc.

Thanks, LA Guy :)

Hi Bruce,

Thanks for the warnings on the process needed to safely bid on auction properties.
As you wrote, Investors must learn to access Title Company Trustee Data, county recording of liens ( Taxes, HOA, SIDS, LIDS, utility, mechanics etc ) as well as onsite inspection review or properties and neighborhoods etc.

As Andy, Leon and Bruce have said, it is a tough market in LV right now.
So, I'm hoping there are still a few deals out there that suit me. :)

Best, LA Guy

Hi Bruce,

So, you go to the Nevada Legal News Daily Auctions ?
Look at the recontrust.com BOA foreclosure site ?
Would like to find out more about this too.
Of course, you need a lot of experience to bid on these.

So, I'm thinking I need a "plan of action/research".

1. Meet and learn from other Investors
2. Do a lot of studying of Property Values and Rehab costs.
3. Find out how good deals are made and executed.
4. Pitfalls to avoid. Learn lessons.
5. Get the RE License
6. Learn how to research and evaluate properties on MLS
7. Build a team to include ?
8. Go Pro on Biggerpockets.com

Thanks, LA Guy

Hi Jesse,

Hope we can help each other too. :)
Don't know how you're finding properties ?
Through wholesalers, research MLS, REO brokers etc ?
How to put together a fair deal for all ?

Best, LA Guy