All Forum Posts by: Eldar M.

Pocket listing in Malibu
5 Br / 5 Ba / 3,499 sf / Pool / Beach and ocean view | Only $2.995M
Please contact in private message or at 323-813-5050

?#?Malibu? ?#?HouseForSale? ?#?Houses? ?#?MalibuHouses? ?#?OceanView??#?ModernLiving? ?#?MountainView? ?#?VacationHouse? ?#?Homes? ?#?RealEstate??#?Realtor? ?#?pocketlisting? — in Malibu, California.

Thank you @Jerry Padilla

@Renee Harris

you need to use the "At" symbol and question mark, once you do that, you can choose from the list of name which appears at the bottom of the "post reply" box.

it should look like this :

"@?" (without the quotation symbol)

5 Br / 5 Ba / 3,499 sf / Pool / Beach and ocean view | $2.995M

Please contact in private message or at 

323-813-5050 or 818-626-1881

?#?Malibu??#?HouseForSale??#?Houses??#?MalibuHouses??#?OceanView??#?ModernLiving??#?MountainView??#?VacationHouse??#?Homes??#?RealEstate??#?Realtor?

Great words @Stephen Masek, I have finished this book about a year ago and plan on going over it again, may he rest in peace.

Hi BP's, my friend have a multi unit residential building in K' town and they are in a bit of a mess. I would like to check couple of things for them as future options. Let's start with a brand new tenant that refuse to pay the second's month rent due to issue with people smoking in or around the building, they have tried addressing the issue with letter to all tenants trying to make it a smoke free building, but initially the new tenant did not sign or agree on any addendum or in the contract that this is a smoke free building. Right now they(the owners) agreed to let the tenant brake the lease without having any penalty, but the tenant will not pay this month and demand $4000 in moving fees, and here I need BP's members expertise to suggest what should be the next step. The second issue is that they want out of the whole owner occupied/managers of the building, they were thinking about selling units, unfortunately I am not familiar with the process, if someone can please help out, it'll be greatly appreciated. I apologize for the heavy complex issue/s. Thank you !

@Arlen Chou ,@Elizabeth Colegrove 

Thank you guys, I appreciate the great input !

I need to start checking it and get back to you with some updates.

Fellow BP's

I am in need of some assistance in trying to fix an electrical issue in a multi unit rental property.

There is one unit of a 7 units property where the tenant is complaining of an extremely high electricity bill. The property is an electric and no gas building. The tenants are 2 adults but use reasonable amounts of electricity. The average DWP bill has been close to $400 during the summer and even higher in the $700s during the winter due to portable heating devices. The units has electric heating that runs through the ceiling with heated cords(this is what has been explained to me but I'm not too sure) however the heater is broken and is not working. We had been told that in order to repair this, the ceiling will have to be ripped out. Can this be part of the issue?

This is extreme high for the little they claim to use. Can any one help with any possible issues and or lead me to an affordable/ knowledgable electrician because the ones we've called cannot seem to locate the issue? We don't want to scare the tenant away by being forced to move. If this is not resolved now, this will continue to be an issue for all future tenants in this particular unit. 

@Jason Pachomski , you can definitely offer them the appraised price, but you have to make sure you are not  loosing money from the whole deal, you always have to take the worse case scenario possible- meaning leave yourself enough room to bargain.

But I really think you are on to something here, as long as this property stays only on your radar and not with an agent, even as pocket listing, do enough to keep the owner interested in the deal but not too much to loose from it.  

Hi @Jason Pachomski 

Very informative, well done !  As far as my understanding from what you posted, I don't see what is the asking price by the owner (unless they are waiting for you to make an offer).

You really have to make sure that you have enough profit margin/reserves in order to make it worthwhile for yourself while being more attractive than all cash offer.

In regards to owner financing by yourself, you need to make sure you offer better rates than hard money lender, which you are with 8%, you can even go a bit higher.

Your bullet points are good to convince the owner to go with owner financing, just make sure the finance is not too tight on your end to make a profit