All Forum Posts by: Pras Palanichamy

@Mindy Jensen Any thoughts ?

I am starting out on REI & based out of SoCal.

I am trying to put together a list of podcasts of California based Investors.

Following is the list I have - Request all of you to suggest any other CA Investors I would have missed.

It would have been great if BP tags them by state when they publish.

03 - Brian Burke

06 - Arthur Garcia

32 - Will Barnard

37 - Aaron Mazzrillo

73 - Mehran Karmari

98 - Allan Glass

148 - Nazz Wang

160 - Stefanie Marshall

173 - Steve Jones

181 - Lauren Hardy

274 - Paul Morris

280 -  Mark Hentemann

346 - Josiah Pott

Is it community colleges or private institutions ? How much should one expect to spend to get the license ? 

@Alexis Monroe & @Matt Crusinberry - Thanks so much for your inputs. Great starting points for my further research ! Appreciate it !

Hello All

I am starting out in REI. I am thinking if a RE Agent license is necessary to become a successful REI or it just does not add any value at all. I want to be a buy & hold rental property investor in the long term.

Have the following questions. Request help / guidance.

1. Does a Real Estate agent license help in closing deals / networking ? One of the points I hear in BP podcasts is that you need understand the problems of the seller & customize offers that solve that problem - e.g. multiple options - low cash offer , higher seller financing offer etc.,

As just an investor I don't have direct access to the seller to understand seller's problems. I need to route through my RE agent , then to seller agent & seller. Will having a RE license help in creating a direct access to seller ?

What would be your recommendation to overcome this problem ?

2. I also heard in a BP podcast that the REI guest had submitted upto 40 offers a week. Is it possible to submit that many offers without a RE agent license ? I live in California. Isn't a RE agent license mandatory to submit an offer in CA ?

Hello All

I live in SoCal - Torrance.

My dilemma - Assume I have saved $150k in cash for REI

Option A - Do I invest the 150k as down payment in 1 deal ( say a duplex in torrance if I ever find one ) as a 20% down payment

or

Option B - Do I take a FHA loan (3.5% down) for Torrance duplex & set aside remaining of 150k for out of state investing ? Which would be a good decision in terms of ROI or cash on cash ?

[Option A gives me higher equity. What are the benefits of higher equity at this juncture ? Should I focus on Option - B which give me higher cash on cash return ?]

Please let me know your thoughts.

Hello All

Have been analyzing multifamily properties (2-6 units) in LA (Longbeach, SP, Lomita, Lawndate, Hawthorne..). Source - MLS / Realtor... However have not found properties that cash flow with as-is numbers.

However if I change the rent numbers from current to market rate (non rent control props) & reduce asking price by 25-30% then I see a ~8-10 cash on cash return.

My questions

1. In order to increase the rents / buy out the tenants, I need to know how long are each of the tenants have been living in the property. Is there a way to get this information by any means ? Any online tools ? Most of the time I don't get a response from my agent (saying they are waiting answer from seller's agent).

2. Also can we get an idea if the tenants are fine for a buyout ? If so can we negotiate a buyout before the finalizing the deal ? How much do we pay as a buyout ? 2-3 months rent ? [ I know it might depend on the situation, anyone with experience in LA please help]

3. Also there is a legal way to request tenants to leave the property giving them 1-2 months notice (even if there is no non compliance to the rental agreement) ?

4. Also can we legally request tenants from a rent control property to leave ? is there any legal bottleneck ? by giving them 2-3 months notice ? Any experiences here ?

5. Does it make sense to sign the deal (with a low ~ 1% cash on cash), in the hope that we can buy out the tenants / increase rent later to shore up cash-on-cash to 8 -9% in years 3 & 4 ? Has anyone tried this strategy ? Would you recommend ?