All Forum Posts by: Shiva Bhaskar

Come join your fellow real estate investors and professionals for an evening at Scholb Premium Ales in Torrance! For those who have not been, Scholb is a fantastic brewery with both indoor and outdoor seating.

There is plenty of parking. If you're having trouble finding us, please text Shiva at 310 968 5547.

This will be a chance to connect with like-minded folks in a relaxed setting. As we know, relationships are critical for success in any aspect of real estate, and this is a great opportunity to do so.

We ask that you support the venue by making a purchase. We look forward to seeing you there!

 Ted, being a compassionate, caring person is a good thing! The thing is, taken in the wrong way, it can cost you money. I think if this part of the business is uncomfortable for you, hire a good property manager or lawyer to correspond with the problem tenants, and let them run point on any eviction proceedings. 

Here's the bigger reality: If you don't put your bottom line first in this business, you won't make it. I'm sorry to say, but it's the truth. You obviously have a goal you hope to achieve by investing in real estate. Every time a tenant plays games, think about how that goal is being frustrated and won't be achieved unless you take action. 

Really feel what it will be like to look back in 15 years or 25 years, and realize you could have done it but did not. Some negative visualization can help you get back to focus. 

Hi Rajan, I'm a local investor and we own single and multifamily properties in LA. If you want my frank advice, don't hire a PM company for this sort of property. 

There's very little money in the deal for them, and the service they give your property and tenant will often reflect it. A single unit condo is something you can easily handle yourself if you screen the tenant, and have access to a good plumber. Perhaps hire a realtor to get the place rented if you want (though I think you can handle yourself) - but don't hire a PM company. y 2 cents.   

Hi Edward. We're local multifamily investors in LA and recently purchased a commercial (5+ unit) multifamily property which was brought to us by a wholesaler - a great deal. The owner wanted an easy closing and no brokers. 

I think if you mean wholesaling in the sense of putting it under contract and flipping the contract, this can be tough for a wholesaler to pull off unless they have a lot of capital available and can show liquid assets. Hard to get sellers to take you seriously otherwise in a place like LA. If you have that much capital and the deal is good, you'd probably keep it for yourself as an investor. 

If you mean wholesaling in the sense of bringing deals to investors and having a strong contract to get compensation for doing so, I think that is possible. We paid this guy well for bringing us the deal. 

Our investor group closed 26 rental units (3 properties) in Los Angeles. I'm proud that we were able to buy great value add deals when people said it was impossible. Also grateful for the investors who believed in us. It's been a great year, and we're incredibly excited. 

Hi there. I'm an attorney, though my legal work does not focus on real estate. To my knowledge, evictions for owner move in to a single family residence as an occupant have been lifted in SOME cases, but there are a bunch of conditions. You do have to provide the required disclosures with the county etc to do this. I would talk to an attorney who specializes in this - happy to share a name if you want to directly message me. 

Come meet your fellow Los Angeles real estate investors and professionals! We'll be having breakfast, networking, and discussing how to implement the BRRRR strategy (Buy, Rent, Refinance, Rehab, Repeat) in the very competitive Los Angeles investment market.

This event is being generously hosted by the Great Room Cafe in Redondo Beach. We're here to answer your questions, and have a dialogue.

For those who aren't familiar, BRRRR is a great way to acquire and upgrade undervalued properties, and grow your real estate portfolio. Our team at LME Investments implements the BRRRR strategy to acquire apartment buildings here in LA, and BRRRR techniques can be applied by investors of all levels of experience.

When you arrive, please order food and head to the meeting room at the back of Great Room Cafe. We will be near the entrance as well, to direct you. The agenda is below:

9:30 to 9:45: Arrive, order breakfast and sign in:
945 to 950: Introductions:
950 to 1050: BRRRR Presentation & Discussion
1050 to 1130: Networking / Open Forum

Hi Jasbir. You may want to connect with a real estate attorney to get a good strong version of those documents. I am an attorney myself, but don't handle real estate matters. Happy to connect you with a few people I think could help if you like. Please feel free to send me a colleague request or message, and I can share the information. 

Originally posted by @Estela L Solano:

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Los Angeles.

Purchase price: $670,000
Cash invested: $167,500

Bought it, did a $50K renovation and rented in 4 months

What made you interested in investing in this type of deal?

Property was a perfect match to accommodate 2 units as it had 2 separate entrances, 2 driveways and 2 AC units
In an up & coming LA neighborhood

How did you find this deal and how did you negotiate it?

I continuously look at new listings

How did you finance this deal?

Conventional loan

How did you add value to the deal?

Did a an interior/exterior renovation with updated fixtures, lighting, appliances and current trend paint palette

What was the outcome?

It was exactly what I expected and then some!

Lessons learned? Challenges?

Patience and attention to detail

 This is great! Nice job on the rehab and an improving are. You'll do very well with this one. Keep it up! 

Hi Chisom, I'm a local multifamily investor. Our properties are both duplexes and triplexes, and with our group, larger properties like 7 to 10 units. We manage in house, but don't do so for other investors. I do have a few ideas for you though:

1. Go on Zillow and elsewhere, and see who sold similar properties in the area. Contact them and ask if they know someone who is a good property manager. They probably have clients who had similar needs, and so might be able to advice.

2. I know of a company that I think is pretty good, and does northeast and east LA. They own many units themselves. I'm not sure if they'll be interested in a duplex (I think all of their stuff if 5+ units) but you can ask them.

3. Be aware that the smaller the property, the higher the fees, especially for the sort of service you're looking for. Just something to keep in mind.