All Forum Posts by: Jenny Kim

Hi @Adrian Chu.  

I am not opposed to fix and flip, but I want to increase my cash flow first. I would not be able to compete with all cash offers right now.  And wirh a full time job, I don't think I could commit the time I think doing a good flip would require.  But as get more experience, I think it would be great.

Thanks @Marco Santarelli.  I have already stared reading the UBG, and I will check out your 10 Rules.

@Chris E. I have been definitely listening to the podcasts and doing some analysis with the calculators.  And my small positive cashflow does not account for maintenance.  Alas, another newbie mistake.  I will keep that in mind moving forward.  Thanks!

@Jayden Hakunti.  Someone else was telling me about Stockton.  I have been looking into it, and the stuff I have read on Wikipedia is a little scary.  What should I look for when I vet neighborhoods.  

Thanks for the great advice @Jean Bolger!  I will look into all those things.  I have already maxed out my free rentometer lookups, and I am debating on subscribing.  I want to see if Craigslist and Zillow can provide me what I need.  I will definitely look into Citydata too.  Thanks again!

@Tammy Vitale

I've been listening to a bunch of different podcasts and reading blogs.  I have all the areas jumbled.  Thanks for confirming that DC is a hot area.  I will double check the price point.  

Thanks @Rob Z.  I think I already fell down that rabbit hole.  My full time job has felt the repercussions.

I am relatively new to real estate investing, and I am looking to invest in single and multi-family properties (and one day apartment complexes).  

Property values in my neighborhood (and most all Southern California) are outside what I am able to commit to right now, so I am trying to find other neighborhoods in which to invest.  On the podcasts and in the forums, I have heard Ohio, Denver, DC, Texas and other places are more affordable and sometimes more landlord friendly.  

My question is what is the best way vet an unknown neighborhood/area?

Thanks in advance!!

Hello BP Community!

I am Jenny Kim.  I have my primary residence and one rental property in the Los Angeles area.  

I say that I am a semi-newbie, because I already have one rental property (which was a condo I used to live in), and I think I have made all the mistakes possible with it.  I am in the middle of a refi now on it, which will put my in positive cashflow after about 4 years of renting it.  I also say that I am a semi-newbie, because I have so much to learn.  

When I moved out of my condo into a single family residence, I decided to rent out the condo on the thought that it would be a good idea.  I did a little research and hired a management company.  It wasn't the smoothest experience with either the management company or my first tenant.  I was about $300 out of pocket every month, my tenant was high maintenance, and my management company wasn't the most communicative (or effective).  But, it wasn't so horrible that I decided to give up real estate investing completely.  Now, I have a new management company, a great tenant, and the refi will put me in positive cashflow (probably about $50/month).  

On the flip side, my primary residence has gone up in value about $175,000 in 4 years (YAY!), and now I'm thinking about my next investment steps.  Wanting to do things "right" this time, I searched the web and found Bigger Pockets.  So glad!!  This community and the podcasts are amazing!

I am looking to purchase Buy and Hold investments.  I would like to get into multi-family and apartment complexes.  I like my neighborhood (and SoCal), but right now, it's too pricey for my budget.  So, I am looking outside my "neighborhood."  I have family in the Chicago area (also pricey), so I am looking there as well as in other more affordable locations.  I will be posting a question on the forums asking how to vet a neighborhood as soon as I am done posting this.  

Thanks for listening BP Community.  I look forward to meeting you!

-jenny.

Thanks for the advice!  In the beginning, they were so excited to move in.  They loved the area/neighborhood, and even wrote me a letter asking me to rent to them.  I think the various repairs and the time it took to fix them in the past year has put a bad taste in their mouth.  On the flip side, they always pay their rent on time, and according to my management company, they take care of the unit.  

So, I'm thinking about compromising with them a little.  Offer a 6 month lease at the same rate OR a 12 month lease with a discounted rate for the first couple months.  I think it gives them a win.  They feel like they've been heard and compensated.  The marketing fee I would have to pay manifests itself in a couple months of discounted rent instead, and either way, I wouldn't have a vacancy to worry about during the holidays.  

If they don't like either option, they have the third option to move out at the end of August, and I begin looking for a tenant immediately.