All Forum Posts by: Alfred Moon

Would like recommendations for property managers in West LA for small mutifamily properties.  Checked forums already and saw similar posts but they were a few years old already.

Thanks in advance!

Thanks for your input. That's an important issue that I totally overlooked! We have a residential loan since it's 4 unit only in the low 2s. Need to be aware what an ADU addition means when it comes time to refinance or sell. Thanks again!

Researching adding an ADU to a 4 plex in West LA and have a few questions about the process:

1. Anyone have a recommendation on ADU contractors who can take care of feasibility/permitting, design, construction, etc?

2. Was planning on financing with an existing HELOC, but the HELOC is on my primary residence. For legal purposes, should I get a HELOC on the investment property itself? Spoke to a few lenders already and it is possible, but with a higher rate. I'd like to know if it's necessary or strongly recommended.

3. When we first purchased the property two years ago, we had the tenants sign annual leases which stated they'd have garage parking. The ADU will replace the garage but the leases have expired and the tenants are all month-to-month. I'm assuming we will need to offer some sort of concession to the tenants? Or not?

Thanks in advance!

Thanks Rick!  Appreciate the input.

We own a 4 plex in West LA with two 2-car garages and generous street parking.  There is an additional uncovered parking space adjacent to the house which was intended to be reserved for repair persons, contractors, but they always street park.  We have 2 tenants who are asking about sole use of the spot and want to know how much we'd charge.  The lease does not mention this spot at all.  Any suggestions about how to determine who can access this spot and any references where I can get a ball park estimate rent amount? Thanks!