All Forum Posts by: Kin Leung

Thanks for everyone's feedback. I'm in the Bay Area and everything else seems so out of reach and that's why i thought Fresno might be an opportunity. I must say what Carson said about the demographics in Fresno seems a bit scary for a newer investor like me. 

Thanks, Jo-Ann, for the pointers. I understand appreciation in value or rent is not high in that area, but based on the numbers, is it a good deal? What else should I consider as far as expenses? 

Hi all, I've been mostly browsing and would like some thoughts on investing in the Fresno, CA area. I came across a 6 plex for $275,000. The listing shows a rental income of $36,900, expense of $14,760. So the supposed net income is $22,140 annually. When I asked the agent what the expenses consisted of, he said gardener, maintenance/repair, electric, water. 

In terms of analyzing this deal, what else should I consider if my plan is to put 20% and have a property manager to manage it? Also, this will be my first time looking at a multi-unit property, so would welcome any feedback. Thanks everyone!

Hi All, My name is Kin and I'm a newbie here. Heard many great things about this forum and wanted to be part of this community. I have a few questions about a property we've purchased recently in North Carolina. We live in California and the house is under both my wife and my names currently. We also have 3 other properties in CA under our names and a $2M umbrella policy. My questions are: 1: should we set up an LLC? Or should I just raise the umbrella policy to a higher amount? 2: for an LLC, what would be the start up cost and annual cost as I know I'd also need a registered agent and pay an annual report fee? 3: since I already set up an account under my own name to handle all the transactions for the NC rental property, is it now pointless to set up the LLC? Look forward to learning from the collective wisdom.