All Forum Posts by: Wallace Zhou

@James Allen It is very hard to find a deal in Southern California area right now. Especially, if you are looking for a deal for flip. 

You mentioned you saw a article in BP, which stated Los Angeles was rate the 3rd worst place in the nation to invest. Can you kindly provide me a link? I would love to read that article. Thank you! 

@Ray Lai You also mentioned that you saw some statical data showed So Cal is near the top of the boom. If it is possible, can you please show me where i can see those data? Lately, I have been thinking about to collect some useful data to put together a PPT. Thank you for your help!

@Sterling White Thanks for the response. I am currently looking at VA (that's where I finished my undergrad), NC, and IN. Just want to find out which market would have properties can generate decent CF but at the same time can have decent potential to appreciate in term of value in the future. Am I expecting too much from those markets?:P

I just want to find out what tools or websites do you use to analysis an area where you are completely unfamiliar with? The reason behind my question is that I am currently started to looking into market outside of southern CA. Since I have a CA real estate license, I join the local real estate association which I can have access to the MLS of the southern CA area. However, when it comes to the area outside of my area ( for example, northern CA or midwest of the country), it is quite hard to collect the data or run CMA. I do know that there are several websites such as zillow or redfin out there I can use to look at data, however, I found them hard to use VS. MLS. Anyone can help me out and point me to a better tools or website?

Welcome to BP, @Wesley Meilandt. I am also from CA and would love to follow the discussions to looking into another market in the country for the same reason as you are. 

@Alex Craig when you mentioned "A" class and "B" class deals, are you referring those "A" class deals as turnkey property and "B" class deals as properties which require a little bit of rehab?  

Hi Larry,

Please add me to your list. 

[email protected]

Hi Everyone. I have a question regarding seeing people holding the flipping property under different LLC. I recently found out that some people use different LLC on every flip they had work on, I wonder what the reason behind use this method. For instant, Joe just bought a property on 1106 west grace st, Pomona,CA. Then he established a LLC called 1106 west grace st to hold the title of this property. 3 months later, once the property is sold, Joe would immediately close this LLC. When he buy the next property he would use the same method to use the street address as the name of the LLC. Why does people do it in this way? To avoid to pay for the supplemental tax? Thanks

I recently purchased a property which was built in 1911. The house is almost 1700 sq.ft, which is kinda rare to have such a big house build around the same period in this area. The property is in a very poor condition and I am planning to do some SERIOUS rehab on this property. Hopefully after the rehab I can put back to the market and make some good money compensate all the effort I am going to put into this property. 

The problem for me at this point is to get some idea how to do the rehab on such a old property. I have flipped some properties in the past 2 years. However, I have never work on any property built over 100 years!!! I want to keep some of the original characteristic of this house but at the same thing bring in some newer design into the property. 

Anyone have any experience with on a property that old? Any suggestion, picture, or website would be welcome!  :)

I am currently working with a GC who is very knowledgeable about what he is doing and the geographic area where I usually invest in. Couple days ago, he proposed that he will pay all the rehab costs up front for me on our next project. I pay him back the rehab cost plus 25% of the net profit when the property is sold.

Is thought on this proposal?

I bought a condo through trustee sale at the end of last year. The tenant did not move out; instead the tenant signed an 6 months lease with me to rent this particular property. The least will be ended by the end of the month. Since I did not get a chance to remodel the property after I got the property. Now, I would like to fix up the property. However, the tenant just told me today sign an other 12 months lease contract with me.

My question is is anybody ever did any major remodeling while the tenant still live in the property? Is that a good idea to do that?

Marco Santarelli Where can I find your "2013 Housing Market Forecast" Report?

Thank you!