All Forum Posts by: Vivian Huang

I have a condo unit in Los Angeles and I need to have my tenants vacate because I am moving family into that unit.

Since my tenants have been there for >1 year, I know I need to provide a 60-day notice. I am unclear if I also need to provide relocation assistance due to the Tenant Protect Act of 2019. It sounds like condo units that are not owned by a corporation do not need to provide this $ assistance.

I've been doing Google searches, but hoping someone here can help confirm this.

Thanks in advance! 

Hi all: hoping to revive this post again. I am redoing my condo floors but the HOA does not allow for hardwood in the bedrooms. ( I'm already doing laminate for the living room and kitchen)

What is a good carpet material to use in rentals? I don’t care too much about the “comfortable” feeling. It seems commercial carpet is the way to go? Is there a certain material I should look for?

Thanks in advance!  

I'm also interested in this question! I'm currently looking at a 6 unit in the suburbs of Chicago. If I move forward with the property and start the loan process, do I need an attorney?

Thanks everyone for your responses! The deal ended up falling through but learned a lot from your notes. One big eye opener was the crazy high property tax!!! Thank you for calling that out @Crystal Smith! 

Hi BP Fam!

Looking into investing in a multi-unit in Oak Forest, Chicago, IL. I live in CA so trying to learn more about the area. From my quick drive around, it seems like a safe, quiet suburb. 

I will welcome any information about the area... some of the questions I'm wondering about:

- Are there any local businesses (colleges, hospitals, etc.) that can keep rental demand stable throughout the years?

- Any safety concerns?

- Any thoughts on the market? I'm not looking for an appreciation play but hoping value will at least stay consistent.

- Any property mgmt / service recommendations?

Hi James, congrats on leaving your job rat race job! Your family seems like a great resource to have given their experience and background within the RE industry. My family has owns property in SoCal, but they are all incredibly passive property owners, and also bought property ages ago when the prices were low and you (almost) couldn't mess up! Investing in socal is a lot different in 2019 so I'm glad that I have BP to help me out with what I don't know!

How are your RE goals going? Are you looking into properties in SoCal or out of state? I'm dabbling between the 2 - will probably try to diversify with a longer term socal property and cash flowing properties out of state. Would love to connect and talk RE!

@Larry Im Thank you! An agent friend of mine also recommended Elite Group. Glad to hear that they are recommended by your investor peers as well.

Looking for recommendations for a property inspector for Orange County, CA (specifically Anaheim).

Additionally, what are some things to look for in a good property inspector?

Thanks in advance!

@Stone Jin Do you mind sharing what areas in Phoenix were you investing in?

@Mike Lambert thanks for sharing your experience and your numbers! I am looking to invest in a condo in Tulum and I'm glad to hear someone successfully investing in the area. Would love to connect and pick your brains a bit more if you don't mind.

In the meantime, what are some other costs that I need to consider outside HOA, property mgmt, utilities, property tax fees. It sounds like the fideicomiso fees are about $550 a year. Do I need a Mexican lawyer to help me put the trust/fideicomiso together? What other fees would be associated with purchasing a condo? I would be purchasing cash, and would not need financing. Any thoughts are much appreciated!