All Forum Posts by: Zambricki Li

I think it depends how deep you analyzed the upsizing to a bigger home in the same general area. Your property tax will be higher for your new larger home. You're going to be paying tax on 2m instead of your relatively low locked in property tax on your original purchase(i'm assuming its around 1m) I think planning for family takes more nuance than just numbers. If you said, "i'm cashing out and moving my family to TX cuz schools are great, my money will stretch, and there is a lot of room for appreciation". I would say "sell" in a heartbeat. To stay in the same general area and up your property tax exposure.....I would further consider. 

 You can challenge an appraisal the bank just wants you pay for the second appraisal-for next time 

You may want to let MLS reset the days on market by leaving it off for a certain amount of time. Or else you may keep your days on market count when you relist which is bad look. Ask your agent how long to leave it off market before DOM resets. If it's too long for the reset I would do a meaningful reduction now, if you are close to reset I would wait and come back fresh. Sorry you are going through this, all the best

Depends on your goals and parameters. There are a few pockets in LA where you can find the Multi's you seek. I have multi's in Glassel Park, Del Rey, Silver Lake, Los Feliz. Currently we're building ADU's behind single families turning them into duplex's in LA-- so that's one way to do it if you can't find a multi you can find the right type property for a garage conversion or other build and live in the main house during the build if needed. There are different areas/options though the opportunities are here.

Hi Leslie, 

TX and Louisville, KY is also pretty good. I like St Louis as well. Look for population growth and school ratings + job hubs. If it's STR look at national parks and beaches and try to find an area that has multiple tourist seasons( Like Lake Tahoe or parts of CO)

I would not take on all the risk and work for $100 bucks a month. Yes, it could appreciate-- though when the market is high like this, that appreciation is not as certain so I would not buy for appreciation RN. 

Yes,  you will need to find your market and strategy

BP has leases right here on the site.  I purchased one from local attorney- it's worth doing especially in states that heavily regulate. You can find good tenants on Zillow rentals depending on location. Also if it's furnished on airbnb 30 day minimum you can find great semi long term tenants on the platform.

There are a bunch of options for software to set up payments though most importantly do your background checks. Most of the payment processors have this as an option. You can send a tenant a link to apply and they will sign up for the software to pay at the same time.

 I have done cash for key's it was expensive though worth it. The tenant actually bought a house with the payout so it was a nice ending to the experience.

Congrats. 4plex is such a good start. 

For self management you need

-A real handyman

-snow removal and landscaping

pay them both well. For a 4plex you won't have a ton on admin so you are good just do it!

Keep the % I think it's smart. Unless you have 30+ doors and no time, self management is a great way to learn where you money is working for, and against you. Then you know what things cost and every quirk of the house, increasing your chances of success. 

First thing is are you rent controlled building? If so, there is a cascading amount of hoops ahead. If not you can get your market rate. I have multi's in LA which is tenant friendly city and multi's built before 1978 are rent controlled.

Better off skip tracing the address, getting the number, and calling the owner before it goes to auction. I use Exactdial for this