All Forum Posts by: Miho Y.

Hello seasoned landlords in Los Angeles, 

Could you kindly give me names of good landlord insurance companies which offers auto, umbrella in addition to landlord insurance for multi units? 

Thank you.

Please kindly refer me to an honest, skilled, fast and reasonably priced handyman or carpenter. It's a stand alone 900 sqft 1 bed 1 bath plus a bonus room unit to become vacant at the end of the month. I'm thinking about: 1 replacing the counter top from tile to some other cheap alternative 2. Install ceiling fan 3 Possibly new cabinet 4. Paint 5. Possibly new laminate/tile flooring (currently ceramic tile) Thank you.

Thank you Shaun! Miho

Hello BP investors, I'd like to learn how multi unit appraisal is conducted for a cash out refi. there's a triplex to be refinanced for a cash out. It is D class building in D neighborhood with high rental demand. Cap rate is close to 8% while the neighboring is maybe 4% or less. To me the higher cap rate with steady tenants are all that's matter. But the appraiser standard maybe otherwise. It looks okay as-is and everything is functional, but the paint on the trims are peeling. With such a short notice it is a big hassle to arrange the painter and short notice to the tenants. But if it makes a significant difference I shall tough it out and do so... Thank you for your insight and knowledge as always.

Wow y'all are super through! Thank you! @Account Closed, I found permaglaze@ http://www.permaglaze.com/index.html and I left a message. I will let them know that I was referred by you. Really appreciate it. Posting this invoice just for fun and as a reminder to myself of investment mistake #20 or so. 

@Colleen F. Thank you for your comment. I thought the idea of reglazing was awesome cutting the cost into 1/4 in comparison to replacement. But it's a terrible thing if I have to do so every 3 months! I should have been alarmed when Quality Refinishing said they accepted only check/cash. So I cannot retrieve it if they never responded... 

Thank you @Nicole A. I will follow your advice. @Account Closed I chose Quality Refinishing because 6 year warranty was the longest of all that I could find. I thought the longer the warranty, the more confidence the vendor had. I was wrong after I see how easy it is for them to just disappear!

Thank you! I'm learning from people like you every day. 

@Nicole A. Whoa! Yes, that is their number that has been disconnected. Taking your advice, I just looked them up on the state website. It says "ACTIVE." I also emailed, but I am skeptical. Too bad I have less than 24 hours to do something about it.

@JD Martin I will tell my tenants that it is not dangerous and they must not eat the flakes ;D

Hello BP professionals,

I am self-managing this property and I must leave the country tomorrow for 3 weeks. This type of issue arises the day before my departure. 

I used this company called "Quality Refinishing" in Santa Ana, CA from Apartment Association directory. Quality Refinishing's phone number has been disconnected so I guess they went out of business? I Paid 325 with 6 year warranty in 4/21/2016. On 7/26/2016, the tenant is complaining that it is peeling and concerned of the safety. 

Is it not safe to use? I need to advise my tenants.

If so I don't know what to do. Your input/advice is highly appreciated.

Thank you.

@Jean Pierre It is a big deal when you are a landlord who is liable to inform tenant of the death making it hard to fill the occupancy, and frankly, I wouldn't want to live in a place where someone died. I bought this property as an investment turning into my future retirement. Now I don't know if I want to live there.

Updating... So I went to the county recorder's office, obtained the death certificate, and found out that in deed the tenant died in the unit in February 2015, 11 months prior to COE. I am so convinced that the seller and the agent intentionally concealed it. I had an attorney prepare a letter to this agent, and his insurance claim adjuster sent me a response saying that he is denying the allegation and claiming he did disclose (lie. I got no paper work) and the tenant did inform me during inspection (another lie). I am bringing this to a mediation. This is my first time to take such an legal action.

As always your input is highly appreciated.