All Forum Posts by: Andy Kaye
Andy Kaye has started 16 posts and replied 51 times.
Post: would you partner with some one who is cheating on his wife?
- Investor
- Long Beach, CA
- Posts 56
- Votes 12
Yes, you have something to blackmail them with if push comes to shove.
Post: Pros / Cons of Buying Four Houses on the Same Street
- Investor
- Long Beach, CA
- Posts 56
- Votes 12
If some or all are adjacent, then you have the benefit of doing a lot line adjustment later down the road for redevelopment.
Post: What color paint is the best for bathrooms?
- Investor
- Long Beach, CA
- Posts 56
- Votes 12
I just bought a house and the previous owner painted the bathroom dark purple (like the LA Lakers color).
What is a good color that I should repaint it with? I am not trying to be stylish or anything. Just looking for something that matches with all accent colors, low maintenance, durable, cheap etc.
Thanks
Post: Where to save money for a future all cash purchase
- Investor
- Long Beach, CA
- Posts 56
- Votes 12
Originally posted by @Stan Hill:
I am certainly no stock market expert. That said, the market increase seems unsustainable to me. The economy has been pretty anemic for years. The fed is printing hundreds of billions, if not a trillion in paper money each year. These are strange economic times with regards to the stock market and commodity prices, but I sense a major correction coming. My .02 worth.
When the general public like you doubts the market rally, it usually means stocks will keep going up.
When the general public thinks its a good time to buy stocks, it usually means a major market correction.
Post: How do you "harden" your rentals?
- Investor
- Long Beach, CA
- Posts 56
- Votes 12
1. Change ceiling fans to dome lights.
2. Add non slip tape to bath tubs and showers.
3. Change front door locks to deadbolt only so impossible to get locked out.
4. Add perimeter motion sensor lights for security.
5. Install cheapo miniblinds and vertical blinds from Home Depot.
Post: Listing agent not responding to my Realitor
- Investor
- Long Beach, CA
- Posts 56
- Votes 12
Agreed, most likely the listing agent is already double ending the deal, and wants to avoid getting any other offers so they can keep the buyer's commission for themself.
Post: Making an LLC
- Investor
- Long Beach, CA
- Posts 56
- Votes 12
Originally posted by @Judy Angel:
Duane
I thought I would put each property into an llc for protection of my assets. I do have high insurance and also an umbrella. Just want precautions. Also wanted to make them small businesses for the fasfa for college aid applications to turn the investments into small businesses so it wont impact the aid I need. I am asset rich but cash flow poor. The houses are large assets.
Thanx duane
If you really did something where you deserve to be sued, then the plaintiff will name BOTH your LLC and YOU in the lawsuit.
Insurance for your day job and insurance for your property is your first line of defence.
Post: Hello, does anyone know about mold?
- Investor
- Long Beach, CA
- Posts 56
- Votes 12
Not all mold is toxic mold. Leave a slice of bread on your kitchen counter, and it will grow mold a week later, but its probably not gonna kill you.
Post: Best way to hold a rental property in CA with a partner
- Investor
- Long Beach, CA
- Posts 56
- Votes 12
I believe an LLC with 2 members is the best way. Each of you owns 50%, and the taxes from the LLC pass thru to each of your individual income tax filings.
As for rental income, you should distribute it every year, because you have to pay tax on your rental income every year.