All Forum Posts by: Nic DeAngelo

Hello BiggerPockets Family!

I hope everyone is doing well and greatly appreciate any and all input on this discussion. Can anyone recommend the best attorneys based in California for real estate investment?

Thank you!

Hello BP family,

I am currently working on a few deals where seller financing might be the best route and possibly accepted. Seller financing is a bit out of my deal profile. What are the next steps to take when seller financing is accepted?

Thank you!

Hello BP Family!

Thank you for all input on this topic! It is always appreciated! What lists have any of you found most success in finding off market deals in the California real estate market? Preforeclosure? Foreclosure? Death of owner? Out of state ownership? Etc.

Thank you!

Hello BP community!

I hope everyone is doing well! I would like to start this discussion off by first saying thank you to everyone who stops by to read this discussion and even provide input as all input is greatly appreciated.

I am currently sending offers through direct mailing. We currently are getting to a point where automation is the best route for our business. We are attempting to setup an automated system where once the offer(s) are created that the offer is automatically populated in a pre-formatted offer that is sent to a mailing company. I have found that this is not the easiest to achieve. What service(s) are best recommended to achieve this?

Thank you!

Hello BP Community,

Thank you for everyone who stops by to read this post and provide input. I currently am analyzing several deals in Los Angeles, California that are in rent controlled zones. I have heard of both success stories and deals that have not worked out as planned in these zones. What are some strategies that are recommended when approaching rent controlled properties?

Thank you!

Hello BP community!

I appreciate everyone who stops by to read this discussion and thank anyone who provides any input. 

I am currently searching for the best real estate accountant for my business. I am currently making a checklist for services offered by each accountant; however, like everything in this world there are a million ways to skin the cat. What are services that are offered by top and quality accountants?

Again, thank you for any and all input! It will be greatly appreciated!

I would agree with @Aaron K. on this... The management company should have no bearing in if you do the deal.

In the past however, we have continued to run the same management company as prior to closing for our larger deals. We've found that they know much more about the details of the properties and we can learn from their experience. 

... That said, we transition away from them within about 60-90 to our own property management company that works well and knows our processes.

In California, we automate the process to start the minute their payment passes the 5 day grace period and proceed with a 3 day notice. If this occurs, and the tenant wants to get their account in good standing, they must pay the late fee as well as any and all legal fees associated with the late payment.

In our experience, this has significantly reduced late rent, and it gives the tenant the feel of a very rigid structure that will be less interested in pushing in the future.

When we have bent on this in the past, it seemed to have created a never ending problem of late rent payment and our management company always begging for rent.

If they don't actually want to pay the rent, then starting that eviction ASAP will save you a ton of money and rent loss. For those two reasons we serve them immediately!

We use Grasshopper or Google Voice 100% of the time! In the past I have made this mistake and ended up with years of headache calls and texts, EVEN when using a management company (we do our own leasing in house) and directing the tenants there. The tenants have often not shown interest in changing contact to the property managers.

We typically see around $20 for general work, for more specialized work, it has gotten quite a bit higher.

Everyone has different strategies for doing their own repairs vs hiring, but on our end, I would rather spend the extra hour working on deals or financing that doing any work on a property!

That said I know many landlords that do many of their own repairs using only Youtube and Google.