All Forum Posts by: Jesus Garcia

I have also gotten screwed by unlicensed 'Contractors.' But I guess sometimes we have to learn the hard way. Yup, live and learn. As the saying goes 'That which does not kill us, only makes us stronger!' Wish you well in your future real estate investing.

Congrats Joel! Thanks for the inspiration. God bless!

Generally, in Los Angeles, in non rent control areas, on month-to-month leases, you can give a 30 day notice to get them to move out. How simple the process is depends on the tenant. They can make it easy and move out, or they can make the situation really tough. If they opt not to pay their rent, serve them a 3 day notice to pay or quit. If they don't perform, it's important to give the proper notices to avoid delaying the eviction process.

House hacking is a good way to go if the numbers make sense. The question of that if they are in rent control is important. Just more rules to follow. Also, are the two units metered separately? I have a duplex that the tenants pay for all their respective utilities since they have their own meters, so I don't have to worry about those extra expenses. In addition, you have to be cautious with inherited tenants. I was lucky with one set of tenants, but the other tenant was a pain in the behind! The first few months was ok dealing with her, but soon she became like a tenant from hell. Long story short , I had to evict her. Cost me four months in loss of rent plus costs of repairs to make it rentable again. Sometimes landlords don't perform through background and credit checks before they decide to rent to them, so the next owner gets stuck with the problem. Perform your due diligence.

Thank you @David Faulkner

That is so true.  I feel the same way about the value of the lessons taught to our kids. These boys are the greatest investment I have and I sure want to raise them to be contributing citizens and not spoiled brats. lol 

Will be happy to network in the near future.

Thank you @Eric Dowling

Yes, the duplex is nearby me in the city of South Gate. Its proximity makes it easy to manage. 

I would love to invest locally but these prices have skyrocketed too high for my liking. I plan on doing a cash out refinance or a 1031 exchange to reinvest in another property, but maybe will look at a investment property a bit farther (i.e. Inland Empire, Palmdale).

I have also been researching out of state investing, and it looks enticing. Will have to get more informed about this option since it is a totally new concept for me.

Hello BP Community!

I joined about a month ago and I must say that I am hooked on reading the daily forum posts, listening to the BP podcasts and navigating throughout the BP website. So many knowledgeable people and so much good RE information! 

Anyways, so far I just own my primary home and an investment duplex, but I am looking forward to acquiring many more buy and hold properties with the different strategies mentioned.

I am in a mission to leave a legacy to my twin baby boys of not only love and respect, but of plethora of appreciating assets as well. :)

Thank you all and looking forward to network.

JG

Happy Bday JD and thank you for BP! :) God bless!