All Forum Posts by: Talha K.

hi everyone

I currently own a rental property that needs wall heater repair. On enquiry it's costing me quite a bit since it requires a permit. Is anyone aware of a licensed individual who can help with this repair without costing an arm and a leg. The property is located in downtown LA close to USC. Please help.

Thanks

hi BP community,

I wanted any recommendations on property mangers for management of a 4 unit building near downtown LA. Please let me know any positive or negative feedback you may have had. It seems like most people are either in a marriage of convenience or hate their property management and are looking for one. I would like some one who is prompt in getting things done when I ask them. It's not a very high maintenance property and will be fully occupied with decent tenets. 

Thanks 

I just had a similar issue with my insurance company. They wouldn't cover the property even with a release latch on the inside. I had to change my insurance carrier and keep the bars to keep the tenants happy. 

I would increase the rent though just to cover the cost of premium hike. 

thanks @Chris Martin , for your prespective

@Moses Kagan  Thanks for the input.

@Account Closed Thanks. 

@Brie Schmidt Thanks for the input. 

Thanks for the input @Moses Kagan 

Here is the info:

Price: 530K

Annual rent: 50.4K

SQ foot: 2600

lot :6700 sq ft

Thanks @Brie Schmidt for the response.

It is a loan through residential loan broker and we will have to transfer the title in case we decide to start an LLC. How often does the "due on sale" clause get triggered in such situations? Is it very common these days?

Thanks again.

Hi BP community,

I have been going over the different forums here trying to get the hang of breaking ground on REI. We just opened escrow on an income property in Los Angeles and wanted to get everyone's opinion/input. It's a 4 unit rental property solely for income with 25% down and has a monthly gross income (after paying Taxes, P&I, and insurance) would be 800/month. We (me and my wife) already pay a lot of income tax due to relatively higher income bracket, since we do have full time jobs; I wanted to find out if it's good idea to form an LLC to help with saving on taxes vs forming a corporation vs leaving it the way it is? We don't really have any other assets so will most likely not need any protection on that front. We are using a real estate manager who will be paid a portion of the total rent collected as well as a handyman who will be paid per service episodes. Any input will be greatly appreciated.

Thanks