All Forum Posts by: Nolan Romero

Thanks for the info. I was reading an eviction book where it said that if a renter is month to month the landlord can give a 30 or 60 day notice. I appreciate the help.

I want to move into one of my rental properties. Do I have to give 30 or 60 day notice? Renter is month to month after an expired one year lease. No rent control in unincorporated Los Angeles County. I am getting conflicting information from different sources. Anyone have experience with this?

Need advice on my rental in northern LA County. I have a rental that i paid 190,000 in 2015. Now i can sell for about 270,000. I owe about 170,000. I will not pay capital gain taxes, as i lived in it recently. I would sell and hold the money for the next downturn or pay off my current live in home mortgage. And start saving for the next downturn to invest in more properties. I have about 15 years to retirement, and i am looking to have 2 or 3 homes paid off when i retire. I get about 300 extra from rent that i send back to the home to pay off faster (cut the loan by about 9 years.). Should i sell or keep renting it?

I see that you are an investor in Los Angeles. Do you find it more difficult recently to find deals that will cash flow in this high market?

Originally posted by @Joel O'Leary:

(my opinion only)

Since you're still 17 years away from retirement, there's no sense paying off one of your mortgages just yet. Keep using leverage to your advantage.  I'd keep the SoCal rental as-is if it's paying for itself. Even though no cashflow, there is still equity pay down. Is there any way you can do a cash-out refi on your primary residence? Get back into a 30 year fixed mortgage and take out as much capital as you can. Then buy another rental with that money.

That's  a low average on the houses that have sold in the area. I'm going to inquire on the 1031. Thanks for the suggestions.

Thanks for the response. Here's a little more info on my situation. 

Primary home is in  Los Angeles County , bought in 2009 for 120,000 paying it down now owe 80,000.  About 180,000 in equity. 

Rental also in Los Angeles County, paid 190,000 in 2016, now owe 170,000. About 60,000 in equity. 

Been trying to learn about different ways of real estate investing now that i have a little equity.  I'm on the fence on my options. Especially on investing in high market areas like mine. Any advice on different investing options or books that you can recommend would be greatly appreciated. 

I'm just starting out. Trying to find my way still. Not sure what kind of investing i want to dedicate myself to.  I have a rental in southern CA that pays itself,  but no extra cashflow. I can sell it and pay off my current mortgage with the recent equity. And save up to buy a rental cash in a few years. My current mortgage only has about 7 years left , but my rental still has 27 years. My goals are to have a few paid off houses when i retire (about 17 years). Any advice for a newbie would be appreciated?