All Forum Posts by: Miho Y.

@Curtis Jones we have a fixer triplex in south central la near the sofi stadium. One unit can be delivered vacant so you can househack, get the primary residence rate or possibly fha 203k loan.

@Bryson Scott I am no lender, but what they consider “cash flow” maybe different from the actual. I remember when we bought the second property, I was surprised by how conservative they calculated the rental income. We ended up finding a broker that found us the lender whose rate was slightly higher than the direct lender that we used for the first purchase, but we had no choice.

Has anyone sold to an individual/corporation that post “Cash for house” signage? What was your experience?

One of our nice tenants is moving out as he bought a house. The property is in need of TLC. How much is the going rate/hour for legitimate handyman in south central Los angles D neighborhood?

@Damon D. Sounds like your condo is in a great area. If the HoA allows, I would find a super host to Airbnb it.

Hello experienced out-of-states investors! When numbers absolutely do not make sense in your local market, it is so tempting to look at a completely unfamiliar towns you’ve never even heard of. I’m one of them. Everybody is against it. And also managing our own properties locally, it is frightening to be an airplane ride away from the property in an unfamiliar town. Can you please share your experience in investing out of state with emphasis in what went wrong and how you solved? Thank you!

@Tara Faulks my experience is only in D class neighborhoods in la county. My worst fear as a landlord is tenants damaging the property and having to find a reliable repair person that doesn’t charge a fortune. I still haven’t found “the one” after 5 years since the first purchase. For this reason, I’d stick with LA/OC/Ventura for buy and hold only because of the higher demand with higher population brings better candidates of quality tenants. Yes expensive but less work/drive to me since we have better things to do than suffering from headache. I love all our tenants that we selected that take care of the unit like their own. I’d not worry too much about cap rate upon purchase as long as it’s cash flowing and property is well maintained by the tenants. When they move out, you make it pretty for a higher rent. Try Lynwood, Huntington Park, unincorporated 90002/90003 Bell Gardens, Cudahy, Compton, Long Beach, El Monte etc. Make sure the property itself is free of gang activity and well maintained. Because the rental market is so competitive, you’d be surprised to find many non-gangbanger prospects to choose from even for D class. My favorite is always a hard working blue collar tenants with a solid trade skill. You personally meet them and do not just rely on the pm’s pick. Also I like tenants that wear multiple hats such as a construction worker that does mechanics as a side gig.

@Calvin Kwan I know you asked if new or used and your decision is to buy them. But we do not supply any appliance at all. This makes the tenants invest and it results in longer stay and zero headache over repair etc. we just have to make sure moving in/out does not damage the property.

We have 2 cash flowing properties. We want to refinance. By consolidating (cashing out from one and pay off another), there is a significant saving monthly. However, this means one properly becomes free and clear. Has anyone taken this route? What are pros and cons of not consolidating. I’m thinking if we were to sell the free and clear property, we will be hit by super high capital gain tax... is this correct? What else?? My CPA says he can allocate the interest to the paid off property to write off. I’m not understanding this so much. Any insight would be highly appreciated. Thank you.

@Stephen Chu Amerisave presented 30 year 2.75% APR for a triplex in Los angles on 9/24/2020.