All Forum Posts by: Lalaine-Datu Villafuerte

Thank you so much for your reply Nathan!  I really appreciate it.

Hi guys question . I have a triplex in Southern California and I inherited the tenants a year ago. I want to  transfer water bill to the tenants because the bill has tripled. I wrote a letter giving 1 month notice and the tenant replied that water is landlord responsibility. They do not have a contract or lease.  Thoughts please?

Hi guys,

Any recommendation for a builder to do ADU detached garage conversion in Fullerton, California?

Thank you!

Lalaine

Hi,

Can you please send a referral for a real estate CPA.  I am in Orange County CA.

Thank you

Lalaine Villafuerte

Originally posted by @Peter Mckernan:

@Lalaine-Datu Villafuerte Depending on what your ultimate goal is and where you are looking to go with the cash in 5 year window. It sounds like with the equity you have built up you would be able to move that money into a better performing property by buying it and adding an ADU if there is the cash for fixing it up. That is what I would look at for everything on the investment for the property/leg-up property.

Thank you so much!  Yes I was thinking of using the money for ADU or another multi-unit since the 3condos has appreciated so much.  It's a hard decision when you sell your properties especially now that it has some cash flow.  And the multi -unit or SFH + ADU has more appreciation. I am really thinking hard.  Thank you for your feedback so much!

Originally posted by @Daniel Siapin:

Reverse 1031 cost $6-10k, and both escrows need to close with 6 months (verify). That being said, diversity isn't a bad thing.

I'm also a believer of buying something to keep it... Or until it depreciates out. What you have now is a nice package... Maybe focus your attention on building out, saying from similar experiences.

Thank you so much for your feedback I really appreciate it.

Originally posted by @Tyler Hungerford:

Well, do you think you can purchase something with the 1031 exchange money that is in a better area and can provide you with a better cashflow? It does make sense to trade low performing assets for something better. If you can find something in a more desirable area that might not have as much cashflow in the beginning, but it won't have continual reassessments like an HOA does annually or every other year, then it might make sense to go for that other asset. Condos are great if the HOA doesn't get reassessed often, but unfortunately when things are good, they're always looking for ways to spend the reserves on something which means they'll end up raising prices on all the units. Food for thought. At the end of the day, it's a performing asset for you right now. As long as you don't have any huge expenses coming up on it in the next 5ish years, then it might make sense to keep it.

Thank you so much for your response! I entered into escrow on a SFR in Fullerton California this week but it is situated to make it a fourplex. I was going to use the money for the conversion of ADUs but I can still do it without selling the condo.

I am just contemplating because I do own 3 condos now that have appreciated and have been learning and recently got into multi-units. But I like your food for thought because I was leaning on keeping them. Just really struggling with the decision because the condos I owned have high HOA but tenants are great.

Thank you so much I really appreciate it!

Hi,

I own 3 condos in, a triplex (pending making it a fiveplex) and recently got into escrow for a SFR but will be converted into fourplex in Southern California.

I am thinking about reverse 1031 exchange on of the condos. The HOA is 302 and I now have a cashflow of 260 per month. I bought it in 2019 and I will have earned 50% ROI. I bought it at 365k and it's now 500k. The other 2 condos have more equity but this one is the least desirable location.

I thought about the 100 per unit that Brandon Turner teaches and the condo is already making cashflow. Should I sell and re-invest in multi- units or keep?

Thank you so much!

Lalaine Villafuerte