All Forum Posts by: Steven Scott

@Bryan Igboke

I have invested in Compton multifamily buy & hold about 10 years. Property value has almost tripled. Compton has gone from being the #1 murder capital to #14 in the US.

That said all places have good and bad areas. You should know the area well before investing. Also, you should have enough financial wiggle room to be able to screen tenants thoroughly. It's always better to have missed a few months rent, then having to deal with a tenant from hell.

Timing wise, I've been looking in LA County for a another multifamily, and it seems like nothing makes financial sense. Good luck!

@Tony Edington

Thanks. Very insightful. I am figuring it would be to their use. Just concerning when you suddenly see it happening.

@Steven Scott

To clarify, the unit is rented as a whole(not as separate bedrooms).

I had 3 tenants sharing an apartment unit. One of the tenants recently moved out. The remaining 2 had a storage unit that they had kept for years. When the 1 moved out the remaining 2 must have emptied their storage unit and put all the boxes in the open bedroom.  Everything is boxed, organized, and stacked neatly (almost to the top of the room).  There is no longer any space to use the room as a "bedroom." I was wondering if they are able to use the bedroom that way and is there any safety or liability concerns for me?

Thanks all or the imput. Thinking that cashing the check, then giving a 2nd 3 day notice would be the best. At least getting some money up front then proceeding with notices and evictions.

Hello, I have an apartment in Los Angels Ca. (Landlord Hell) LOL. I have a tenant 2 months late with their rent and I just gave them a 3 day notice. after the notice they sent me last months rent.This would be a partial payment as they still owe for this month. Should I cash the check? Would that void the notice? Would I have to have another 3 day notice?

Hello Steve P. I currently am going through the same situation.  I was supposed to be refinancing my income property and the mortgage company paid off my Primary Residence.  They now have 1st and 2nd position Liens on my income property.  I am very interested to see if and how this was resolved in your situation?

Looking at a 26 unit building that are all located at the end of the block.  Three sides of the property are facing the street.

Layout has 8 buildings,  2 in the middle and 6 on the  perimeter.  Parking is in the middle of the property.  From what I've seen it has alot of cross traffic going through, People just traveling, going to the bus stop, Bums going to get cans out of the trash.

A manager I know said to put a gate up to stop the traffic.  Brainstorming to save money, we thought the gate could go between the perimeter buildings (Actual Estimate $40,000) and not around the whole property (Guess-timate $120,000) .  This would block off cross traffic, the common grass area, and protect the parking lot.

Problem is, most of the units (20 of them) face outward toward the street, so it does nothing to protect these perimeter units.

Question is... would this gate even be worth trying to put up? Does it add any value?

Thanks for the input @John Anderson. I would love to rewire and have each unit separately metered but initial rough estimate of $80,000 - $100,000 has scared me.  I'll probably ask to lower the price to compensate but I cant imagine seller lowering $100,000 more. 

Hello BP Community.

I am in talks to purchase a 20+ unit apartment building in So Cal for 1,450,000. 

I went over the property operations and agent just disclosed units are sub-metered for electricity.  Agent said that people are paying rent but they are having a problem with people not paying their portion of the electric bill. Usually over the summer when the AC is on.  In fact 5 tenants are multiple months behind owing $300+.

Does anyone have experience with enforcing the submeterd apts bill? Can you cut off their power? How easy is it to evict a person if rent is up to date, but electric is not paid? What about tenants then questioning the bill, saying its inaccurate?

Any insight would be very appreciated!