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All Forum Posts by: William Tong

William Tong has started 16 posts and replied 43 times.

Post: Considering attending the BP conference

William TongPosted
  • Real Estate Broker / Lender (Residential & Commercial)
  • Arcadia, CA
  • Posts 46
  • Votes 11

@Taylor L. This is the second conference. The first one was 7 years ago.

Post: How are flippers / rehabbers reducing capital gains? PMs welcome!

William TongPosted
  • Real Estate Broker / Lender (Residential & Commercial)
  • Arcadia, CA
  • Posts 46
  • Votes 11
We're closing on our first ever rehab in Los Angeles! We are currently an LLC and we've heard it's better to switch to an S-Corp for flipping / rehabs. We want to do more flips, but haven't found the next project yet. In the interim, we'd love to know what strategies you guys have to reduce & avoid capital gains taxes. It's not super viable to do a 1031 since we want to keep flipping / rehabbing. Please PM me your strategies or feel free to post If you're in LA and want to learn about what we did or visit the house before it closes, let us know.

Post: ADUs in Los Angeles - do you have any experience

William TongPosted
  • Real Estate Broker / Lender (Residential & Commercial)
  • Arcadia, CA
  • Posts 46
  • Votes 11

We interviewed multiple companies and went with one that will be about $160/sqft. We're using high quality materials and hired a very creative architect. We're stalled with the city of LA right now. If anyone wants to follow along in the process, you're more than welcome to.

Has anyone dealt with a garage conversion in the city of LA when the property is on a hill?

Post: ADU's in Los Angeles

William TongPosted
  • Real Estate Broker / Lender (Residential & Commercial)
  • Arcadia, CA
  • Posts 46
  • Votes 11

Hi Kyle,

I've spoken to a few architects and contractors but haven't decided to work with anyone yet.  I would like to work with a company that has done many ADUs.  Have you found anyone yet?

Thank you!

Post: Handymen contractors needed around Detroit 'burb Inkster Michigan

William TongPosted
  • Real Estate Broker / Lender (Residential & Commercial)
  • Arcadia, CA
  • Posts 46
  • Votes 11

Have a client who's looking for handy people/contractors who can offer affordable help/renovation in the Detroit suburb of Inkster in Michigan.  Mainly satisfying the city's certificate of occupancy requirements.  Will probably start out on a contract basis but could turn into a part time or full time gig.

Please contact my assistant at [email protected] if interested.

Post: 2016 BP Summit?

William TongPosted
  • Real Estate Broker / Lender (Residential & Commercial)
  • Arcadia, CA
  • Posts 46
  • Votes 11

Hi @Joshua Dorkin @Brandon Turner

I'm connected to the board of Realtors in the West San Gabriel Valley in Southern California. We have a conference room that seats over 200 and there's free parking. I'm sure I could get you guys a cheap rate and help find sponsors. I didn't get to go to the conference in 2013 (2013?) and would love to meet you guys and network / collaborate with investors around the US and L.A.

Post: Does anyone have a good letter for Multifamily 2-4 units?

William TongPosted
  • Real Estate Broker / Lender (Residential & Commercial)
  • Arcadia, CA
  • Posts 46
  • Votes 11

@John Cohen Thank you very much for the response! Do you have any example letters by chance? How are you tracking your results and things like that?

Post: Does anyone have a good letter for Multifamily 2-4 units?

William TongPosted
  • Real Estate Broker / Lender (Residential & Commercial)
  • Arcadia, CA
  • Posts 46
  • Votes 11

I want to acquire a multi-family 4 unit property for myself and I see it as a good opportunity to wholesale any properties that I don't want or that come in after I acquire the one I want. Does anyone have any letters that get a good response rate? Are there any better methods than direct mail?

Post: Monterey Park, CA - 3 unit with a ~5% net cap.

William TongPosted
  • Real Estate Broker / Lender (Residential & Commercial)
  • Arcadia, CA
  • Posts 46
  • Votes 11

Wholesale deal. 3-unit on a zoned Triplex lot. Market rent is $4,000/month. Approx. 5% net cap. $745,000 all cash investor wanted. GreatSchools ratings 9/10. 5 minutes away from 99 Ranch super market and the new shopping area, Atlantic Square.

Post: LOOKING for a SFR in Los Angeles County or Inland Empire

William TongPosted
  • Real Estate Broker / Lender (Residential & Commercial)
  • Arcadia, CA
  • Posts 46
  • Votes 11
I have a few properties in mind for you. Message me.