All Forum Posts by: Minh Nguyen

@Account Closed Definitely would have preferred that but seller would not agree. Fortunately, numbers still pencil out.

Hey guys,

I'm in the process of acquiring a SFR property for a fix and flip. The property currently has tenants who are related to the seller. They have no formal lease but have given me an estoppel certificate indicating they're on month to month.

I'm planning to give the tenants a 60 day notice to vacate once I take ownership and hoping that goes smoothly. Is there anything I should be looking out for or concerned with? I'm trying to understand the worse case scenario - which I think might be an extra month plus legal fees for eviction if it comes down to that?

Some additional details:

- Property in city of Los Angeles
- Non rent controlled
- Tenant is family of four
- Tenants have been living there for 5 years 

Thanks,

Minh

Hi, I'm working on a flip project and brought on a few friends as equity investors and will be taking ownership of the property in an LLC. I'm working with a hard money lender who already approved me but will need to run credit for every member on the LLC and would require a personal guarantee from each member owning 20% or higher. The credit check is annoying but won't necessarily be a problem. The personal guarantee might be an issue however.

Are there other ways of structuring partnerships with my investors so we can avoid this hassle? Mainly, how do I work with lenders like this while reducing friction for my investors?

@Sean Ray That's a bummer.. do you mind sharing some of the lessons you learned on "what not to do"?

@Nabil Suleiman @Anthony Nguyen

Can I get those GC contacts as well? Thanks!

Thanks all for the recommendations!

@Jason Hsiao The property is in Silverlake

Hi, I'm working on a SFR flip in LA and in need of an architect. I'm looking to reconfigure the existing space and add some square footage. Does anyone have a recommendation?

@Jay Hinrichs do you have advice on what to look for in a HML?

Nice work! Do you manage the properties yourself?