All Forum Posts by: Miho Y.

Hi investors, our triplex is located in Los Angeles. A prospect tenant is looking for a live/work place and found ours. Her nature of business is jewelry making/selling. Does anyone have any experience with a tenant operating a business and what we need to be aware of? Any clause you added to the lease agreement? Additional security deposit you corrected? Thank you in advance!

Thank you all. I guess we shall be calling realtors. Could you advise me what are the questions you’d ask realtors? This would be the first time selling.

Thinking about selling a triplex quickly without going through traditional way of realtor + MLS. Any advice is appreciated.

@Zack Elaroussi where is the property? Is the housing market hot? Are there many flippers in your area? it’s not the best timing to renovate. Materials are so expensive due to pandemic. Also if you take out the loan (2 months at least), by the time you finish the project and put the house on market, it maybe end of the summer when the market slows down and you don’t know what the market would be then while you may find bigger issues with the house and end up spending even more. After all is done, several thousands grands gain with all the stress from dealing with the contractor and gambling with the market, would it worth it? Can you and mom afford waiting that long?

@Tyler Tacy you need to tell them your plans before you proceed IF you really care about them. Otherwise you are only guessing and feeling good about yourself feeling bad about kicking them out. The fact that one of them said she wishes to be your landlord bc you appear nice is kind of tells you that you are going to betray they expectation if you didn’t disclose your plans. Yes it is business but pretending to be understanding when you exactly know that you need them out is bad karma.

@John Ringgold no grace period for late payment. We start the eviction process if no notice for late payment is given in advance.

@Johnson Best all these places are between 710 and 15/215 tho.

@Dabvis Le Sutton I hope you are INTENDING to move in upon close of escrow as a primary residence. Just saying... https://www.experian.com/blogs/ask-experian/heres-everything-you-need-to-know-about-the-risks-of-mortgage-fraud/

@Johnson Best how about Temecula, Lake Elsinore or Mt. Baldy?

@Dabvis Le Sutton is it in so cal?