All Forum Posts by: Lee L.

I would suggest getting the click-together type rather than the cheaper stick-together type, which is probably what is going for $.89. I once used the stick-together allure, and after a few months, gaps started to appear between the ends of the planks. It had a funky smell too. 

I've been using 7mm CoreXD from lumber liquidators. Not the cheapest out there, but I've had really good results so far, and looks great. 

I'd probably offer a nice round number, probably $50. I'd say that after the job is completed, I might need to revisit the project to make additional minor repairs to the garage, and the money is intended also for electricity needed for the minor repairs, if they ever come up. 

@Omow A. I would probably tell them that new paint, refinished counter tops, backsplash, blah, blah, blah is not a safety issue, and it would be difficult to make those upgrades at this point in time. If they are dissatisfied with the aesthetics of the property, they are more than welcome to leave with proper notice. 

@Hector Bastida Another thing to consider when you're buying 2-4 unit buildings is rent control. Most multifamily buildings in L.A. City are under rent control. This would apply to South L.A. If a unit is occupied, and you intend to live in the unit, you can go through the city and pay the tenant relocation fees. This could range from $7K - $20K+ depending on variety of factors, including how long the tenants have lived there, whether or not there are children, senior citizens etc. You can also negotiate cash-for-keys. Anyway, it's more cash you need to cough up. 

On the other hand, if you're buying in L.A. County (ie: Long Beach, City Terrace, but not Boyle Heights.), there's no rent control currently, and you can occupy the unit after giving proper notice, and no relocation fees are required

@Sam Filter

As a starting point, try going on yelp, type in a few key words and see what comes up. It can give you a few insights about the neighborhoods and reputation based on yelpers' random reviews. There's a map, too.  

@Tiffany S. I'd also be interested. I live and invest in L.A. and looking to invest out of state. 

@Kristine Libby try https://www.rentometer.com

In redfin, you can look up multifamily properties that are for sale, under contract or for sale. The listings will often show the rents of the units, which would give you a few more data points. 

It looks ok. I don't think I'd do anything. 

I use Google Docs spreadsheets. It's basically the same as MS excel, but saved in the cloud and can be accessed on all devices. Since a single version is saved in the cloud, It helps me avoid having multiple versions of the same file, some more up-to-date than others.   I also like the fact Ithat I can look things up on the spot. Like the other day, I was shopping for vent hoods and went to the same place I went a year ago. With Google Docs, I was able to quickly pull up what they charged me a year ago, and was able to negotiate with the owner for the price they charged me a year ago. 

You're too young to retire. Develop more income streams while you're young and have the freedom. Travel. Volunteer. Do things you've always wanted to do. But don't retire yet. Be productive to stay sharp and to maintain your body. You're just getting started.