All Forum Posts by: Tommy Kim

Hello, I am trying to setup a mass text campaign to Real Estate agents for potential investment deals in Southern California Market.  And be able to track my results.  Does any one have experience with a software program that we can use to do that?

I am brokering a Land parcel deal which is being subdivided. Portion of land being subdivided will be used for potential development of Self Storage.  

Buyers are proposing Site plan for Self Storage for the portion of the land that will be left over for my Seller and I want to know if that is the best design for Self Storage.  

Looking for help from self storage experts in Southern California that can give me some pointers of the site plan.  

Thank You 

One Tenant has been frequently having toilet and shower clogging issues and requesting us to fix the issues.  I have told them if it's plumbing clog caused by the tenants we have plumber bill the tenant directly.  I'm just wondering what other Landlords here have in place for tenants who call frequently for plumbing clogging issues? Thank You....

Hi Everyone! We will discuss our objectives of this meet-up including some background of our current investments and the exciting investment opportunities locally. Really excited to meet all the members and hear your thoughts and experiences in real estate investing.

No charge to attend- Lunch will be provided.

12:00-12:15 - Introductions/Announcements
12:15-1:15 - Fix & Flip, Investment Mastermind
1:15-1:20 - Q&A
1:20-1:25 - Wrap-up
1:25-2:00 - Networking

Investment Info:

Large multi-family (5+ units) other investment.

Purchase price: $600,000
Cash invested: $1,600,000

New construction!!! Lot was purchased from owner that put a land for sale on Craigslist. Got a great deal with lot purchase $600,000 and Construction of 6 unit townhome style was $1,600,000. After construction price $3,800,000. I would love to share with people what it take for development. Feel free to reach out! Boom!

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

Because California price of Real Estate is so high, it make sense to build new construction.

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

Found a deal on Craigslist and had the owner come into our office to discuss the price.

How did you finance this deal?

Hard money loan, Investor capital, Bridge loan to Take out loan

How did you add value to the deal?

Building a nice custom Property

What was the outcome?

Estimated Rental income of $240,000 Annually, Apprised around $3,800,000

Lessons learned? Challenges?

Building new construction never goes on time. Working with city, utility companies, fire department, etc. throughs in lots of confusion and delays. Relationship is the key with vendors and people involved.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am Real Estate Broker but we worked with several Lenders, and General Contractors...

@Hubert Kim

Fullerton deal went fast. Hubert I would love to help your investor look for deal. I think your local, if u wanna come by my office, we can meet 30mins to see how i can help.

Thanks.

~Tommy

I have off market 2bed 2bath condo in Santa Ana, CA. Newly remodeled Flooring, New Kitchen asking $250,000 and rental comps are $1800 per month.  Let me know if anyone is interested.  

Thank You

Hi, I have several homes that I am doing fix and flip in Fullerton California.  I ran across another good potential deal but don't have more money to take on the project.  I would love to sell it to an investor or would love to work with Money Partner for 50/50 equity.

Thank you for reading...

Investment Info:

Large multi-family (5+ units) commercial investment investment in Los Angeles.

Purchase price: $1,100,000
Cash invested: $200,000
Sale price: $1,799,000

Currently a Duplex Project in Los Angeles, CA. New plan has been submitted to Building Department for 25unit apartment project. Project will be sold RTI (Ready To Improve) as an apartment. Please shoot me an email for more details.
Thank You
~Tommy

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

I have been fix and flipping deals for over 10 years and started to develop apartments.

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

Got this deal from XOME.com ad a duplex and used the online bidding

How did you finance this deal?

Using a local bridge lender

How did you add value to the deal?

Ended up Cash for Key or Evicting existing tenants and put a plan to develop 25unit apartment project which has been submitted to city of Los Angeles.

What was the outcome?

We just listed the property this week and looking to sell it to developer investor

Lessons learned? Challenges?

Los Angeles has Rent control and there were multiple families living in the duplex. Housing department required us to pay every tenant occupying the building and that was a lot of money we did not expect.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Since I am a Real Estate Broker, I did work with other agents and brokers in my office.

Thank you so much for all your perspective and comments.   It give me great idea on different perspective on requiring and not requiring tenant insurance and about scaling.