All Forum Posts by: Shaun T.

Hi All, I just aquired a property in Clearwater, FL that requires significant renovation.  I am looking for an electrician to upgrade the electrical panel and get some additional circuits for the kitchen appliances and water heater.  Please let me know if you know a licensed electrician.  If you're an electrician then please reach out to me with some verifiable references.

Thanks,

Shaun Trivedi

Hi All ... Happy Monday! 

I am curious if anyone has a first-hand working with a wholeselling company called Wholesale Dispo Outlet!  I get emails from their various agents with properties from GA and all parts of CA but whenever I follow up with any of them most of the time there is no response or if there is any response then there is no answer to any of the follow up emails.  Most of our questions are pretty straight forward due deligence type.

I have been doing deals with other wholesellers and we do fairly good amount of volume - AND - those companies respond very quickly so this one is kind of strange. 

FYI - only looking for feedback from investors who have actually worked with this company.  I am not soliciting for any service or advise.

Thanks you!

Hi all ... I have several flips that I purchased in 2022 and will get executed in 2023.  Same with rentals where I purchased in 2021 and fixed them up and started renting them in 2022.  My questions are how do I account for expenses and tax deductions.

For example: mortgage interest, utililies and other carrying costs - can I claim them as expenses in 2022?

Thanks for your take on this. And yes, I know I will need to consult a tax professional for this.  I am just trying to get your take as people in the business.

We have used several wholesellers to buy over a dozen properties in last eitheen months.  For most part the transactions have gone ok and the level of the post-sales surprises such as not living up to RPAs have been minor or resolved.  

Last week we closed on a property in San Bernardino, CA from a well-known wholeseller operating in multiple states - the escrow was over 20 days long at their request and the property was to be delivered vacant (as per RPA). 

Before we send out our demo crew we checked several times with this wholeseller (both their acquisition person and sales person) about the property being vacant and were given the assurance of it being vacant.  At the demo day a crew of 4 was surprised to find the original seller still on the property.  Now I am out about a $1200 for the day.  The wholeseller gives me a story about the seller being an old man etc and comitted that the property will be vacated on Monday (2+ days).  We checked and received confirmation again that the property is vacant. Tuesday morning (now 5+ days after the close) the four men demo crew is again met by an angry man at the property. Another $1200/day.

The wholeseller company response -- "Call the police!  There is nothing we can do about it."

What is my recourse against this wholeseller?

Hi all,

I am trying to refi two of my BRRR projects in Anaheim, CA and Huntington Beach, CA. The lender charged $650 per to "independent" appraisals. I can't believe the results - these are SFRs appraised at least 8% below what the market conditions would warrant. These are rehabbed properties. The operating income statement done by the appraiser also show unreasonable vacancies (mind you that both of them are on 1 yr and 2 yr lease agreements which were shared with the lender).

How do I push back?

Hi all, 

A new landlord here! I have a tenant who is really upset that he won't be allowed to use the garage. I have always been very clear that only the house is being rented and not the garage because I plan to turn the garage into the ADU (plans are in permitting by the city of Anaheim). He agreed to it but now he says he never agreed to it.

My other mistake is to let him move in without signing the lease.  Yes, I should be flogged in public for this one, but he needed to move right away and he claimed to be not very familiar with emails so he didn't sign the lease that I had send via Zillow Rentals platform.

Now he wants to move out - which is fine -- but what forms/documents should have him sign to get all of this on record?  The biggest concern is to get him out of the house as soon as possible.

Any guidance is appreciated ... and yes I realize all the mistakes I made while trying to be a landlord. I just need to find ways to recover from them.

Thanks ... Shaun Bob

Hi ... I am in search for an investor friendly handyman in orange county area.  I have few rentals and I am always working on flips that will require some minor work after the final inspection.  Thanks!