All Forum Posts by: Bar Mandalevy

Hello, I was looking into buying a condo for myself in Palm Springs CA, to use as a rental. 

There's some great deals now for around 100-110k for one bedroom and I went to see and looks pretty good to me. 

Does anybody know how hard/easy is to find tenant for a year lease?  I know it's easy to find seasonal tenant for the winter month but I intend to rent it all year around.  

Anybody knows the area? Would love some input.

A buyer without SSN. Only ITIN ask me if he can get a loan and how much down?  I know some lenders do ITIN loans for buyers without SSN. 

I know not many lenders do because fanne may don't purchase these loans.

Was reading this http://hcidla.lacity.org/system/files_force/docume...

In the city of LA even tenant without lease for more than 3 years living at the same place. New landlord needs to pay up to $19,000 for relocation costs for tenant?

Maybe I'm missing something 

^ that's a good point though seller to reimburse buyer the security deposit of tenant. 

Listing agent says tenant has no lease been there for over 25 years.  Is it neccecery to get a RE attorney? Maybe serve the tenant 60 days notice to quit and tenant to vacate before need to start the ugly eviction process?

Tenant knows units being sold and seems she prepare that she will have to leave.

Would appreciate input for someone with experience in California tenant laws and/or buying tenant occupied property. 

Hello we plan on buying a tenant occupied unit and removing the tenant and fix it and rent for more. Supposing the tenant has no lease it's easy to remove her with 60 days notice to vacate? What if she has a lease with precious owner - still easy to evict her with 60 days notice to vacate as the old owner not the owner anymore ?

No much experience with rentals. Would appreciate advise 

This question is for agents. assuming you not so busy and only have one transaction as a time. Do you use a transaction cordinator for $300 for buyer side or you do your work yourself?  Have a transaction open now I am thinking if I should get a TC on it. 

The seller agrees to pay the special assessment. But how do I know HOA won't make a new special assessment in a year or two?

Is it possible to find out on what the special assessment was used for?

I would've live there myself either, but lots of people do. Downtown LA changed so much in the last 5 years. I'm sure Panorama City would appericiates.  As long as it doesn't stay without a tenant for long periods of time 

Hello I'm interested in purchasing a condo I seen in Panorama City in 8800 Cedros Ave, in San Fernando Valley county of Los Angeles. If anyone familiar with the area..

The price is $125k for 700 square feet with a pool and one parking. 9 out of 30 apartments in the building are for sale becusse (I think) special assessment to the Hoa for extra $160 a month for 30 months. I guess the owners selling becusse can't afford it and don't want the place to go to a Hoa foreclosure?

Seller would pay the special Hoa assessment from the sale. So the Hoa would stay low ($180 a month) and I think should be easy to rent for $1100 a month?

It's impossible to find street parking but the condo comes with one parking. 

We looking to buy and use it as a rental investment property. Make money from the rent and hopefully the property will appericiate in the future. 

Does anyone familiar with the area? And suggestion or advice would appericiated!