All Forum Posts by: Rajan Ch

I just bought a property in Los Angeles county with 2 units. I am trying to see the best way to rent it out. The original front house is 1500 sq ft and a detached garage is turned into a 1000 sq ft ADU. There is a long driveway and alley so both units have easy access. The challenging issue is there is an above ground spa installed in between the two units and a common area with outdoor furniture by the spa. The utilities for the spa such as electricity (water pump and to heat) is tied to the ADU interestingly. I pay for water so that is not an issue for anybody. How should the lease be structured as far as both tenants enjoying the common area, but most importantly, the use of the spa, since only the back tenant is having to pay for its utilities and myself paying for the water. I feel like not giving the front unit access to it seems weird since it's part of the common area but the back unit is having to pay its electricity ? Any thoughts ? thank you.

My wife and I sold a 4 unit apartment and left with about 500 K in equity with total sale of 1.08 M. Plan is to buy total of 2 M in real estate through a 1031. Prefer California and but open to other areas and other types of real estate . Curious what some ideas would be that somebody would want to do in this type of market. 

@Victor Ong This is true On my current multi family if I have vacancy or somebody stops paying it’s very difficult to recover since the margins are so slim. Luckily did appreciate but properties don’t always appreciate as quickly as you would expect

@Clarence Johnson great specific and actionable information. I have been looking for SFR with detached garage and big lots under the plan to convert detached garage to additional unit. You are saying to buy it already made ?

@Jon Schwartz I like the idea of the HELOC. The tenants I have I've been there for years and is quite stable obviously that can change at any moment in this economic climate. Most of the units have multiple sources of income so the likelihood of them paying is pretty good.  You are correct I'm looking at her income although it doesn't hurt that helps with getting future loans but the prices feel rich and the potential for rent decrease is high. The best I could come up with ways to get a large single-family home and rent the bedrooms which a recent bigger pockets podcast had delved into but I'm getting the tenants and having to see if they all can get along with some thing that turns me off. So I'm kind of sitting in limbo not really knowing what to do sometimes the best course of action may be to do nothing

I am In the LA area and I bought a 4 unit in 2015 in the inland empire in Southern California  and currently it has about 300 K of equity in it.  The 4 units are all currently rented out and profit is about $300 per month.   I have also about 100 k cash to invest not sure which direction to go in I work full time in a non real estate industry with solid income