All Forum Posts by: Stephanie Trevizo

@Odie Ayaga, funny you mention that, recently one of my female tenant's called my husband to tell him she thought I was rude. I think it had a little more to do with the situation than me being a woman though. 

Hi @Kitty Tan , I've done it myself multiple times. However, I have a background in design. 

I've worked with 2 other investor friends this year who have permitted ADUs. They both needed full sets of drawings, including engineering. At that point, it was just easier for them to have their contractor pull the permit. Unless you yourself can do design drawings, you will basically be acting as a plan runner just visiting the city, and being the "middle person" could slow down the process. Hope that helps!

Hi @Jorge Barboza Jr., as @Seth Borman mentioned it isn't allowed in most cities. 

I own a quad in a C-2 zone that has 4 freestanding tiny homes ~325 sf each, the city was VERY clear that these are grandfathered (built in 1918) and if they were ever demoed we could not rebuild the same size units. 

Permitting upgrades was interesting, because of their size, there are multiple code violations that were "excused" since they are grandfathered and the inspector could not recommend a solution. 

I wish it was possible, I live these tiny places!

I've been in the construction and real estate industry since I was 18, I've had my fair share of not so great experiences, but I developed thick skin quickly and never take anything personally. 

Networking is key, find the people you like to work with, trust and respect you. If someone doesn't respect you or thinks you're "crazy", then they don't get your business, period. I have things to accomplish so I don't give too much energy to negativity.

With my tenants, I find many of the men are willing to push much harder with my husband than they will with me. I am also very black and white when it comes to my tenants, I'm nice enough, but when it comes to terms, what is in the lease is what will happen, I do not budge.  

In the end, I would say it all comes down to communication and people skills whether you're a man, woman or a giraffe. 

Hi Brad, best of luck, it'd be great to stay in touch. 

Hi Jj, I get what you mean about letting a wolf continue to roam. We could, of course, say it depends on the situation, in my opinion, there are different landlords for different tenants. 

When I purchased one of my quads, the sellers' property manager told me one tenant is ALWAYS late so they just considered her rent due on the 15th of the month rather than the 1st. That may have been okay for that property manager, but that is not okay for me. When we closed escrow I offered her cash-for-keys and she happily moved on to a new home. When her potential new landlord called me for a reference, I was honest and did share what I had been told, which I felt was the ethical thing to do for my fellow landlords. She did find a home rather quickly. 

I've also accepted a tenant with a bankruptcy and eviction on his record but did all of my due diligence before we signed a lease and that tenant paid the maximum deposit allowed. 

Hi Iyan, 

Yes, I'd suggest speaking to a local agent who could help make a smooth transition for the tenant and new owner. An agent will also be able to market it to the right type of buyer through their network and be mindful of the showing schedule for the tenants. I agree with you, it's likely better suited for an investor who focuses on SFRs.

Hi @Armando Chapa , I would suggest something similar to @Aaron Edmondson . Start with a multi-family you could live in. You will most likely get better financing with little down. Since you will be earning income from the other half of the duplex, it will reduce your living expenses to save for your next property or leverage this one since it is your primary residence. You will also be close by if you choose to manage it yourself. 

Personally, I would try to buy a 4-unit and live in one unit. You could get an FHA loan up to 4 units, competition may be a little higher depending on your area, but it is an option. You would have more tenants to deal with, but your risk of losing income is divided between the 3 tenants. i.e. having 1 tenant move out of a 4-plex and losing 1/3 of your income is less painful than having a tenant move out of a duplex you live in and losing all of your income while it is vacant.

Hi @Akston Pots, I agree with @Omar Khan on this one. 

Although you can do FSBO, it will limit your buyer pool. In Los Angeles anyway, most buyers of an 8 unit property will be using an agent to manage the process. It is not uncommon for the Buyers' agent to request their commission be paid by the seller if an offer is accepted. Many buyers will not buy a property, no matter how good the deal if they can not use their agent. And those who will go for a FSBO expect to get an amazing deal since they know the seller is not paying broker fees. In my market anyway, most sellers get significantly higher offers when they are properly represented, more than making up for the broker fees.

As I am sure you're aware, there is a lot involved in selling a multi-family property. Property vetting the buyer is a big part, if this is not done properly the buyer could tie up your property in escrow and still not perform. My suggestion would be at minimum sit down with a local Realtor and discuss options, such as a pocket listing and an exclusion list if you do decide to eventually list. 

Until then, I would suggest creating a marketing package with a rent roll, expenses, etc. and market your property as much as possible, this is what your agent would do. You could list as FSBO on most platforms like Zillow. Contact other investors in your network and ask them to also get the word out. When you receive offers, be sure to properly vet the buyers. Hope this is helpful.