All Forum Posts by: Richard Chang

Hi Joel, I am thinking of investing in a set of properties in LV or PHX with the money coming out of the 1031 exchange since I would have about 200K Depreciation Recapture ( 25%fed + 10% Ca State = 35% on 200K = 70K tax !) and sizable capital gain to pay on a normal sale.

Appreciate help on this, Richard C :roll:

Hi Steve,

As I just posted, it's an odd property with very old house and not so old house in back and nothing directly like it. So I don't think there is a direct comp. I guess trying to price by price sq ft sold for other duplexes ?

Thanks, Richard C

Hi Jon,
Re: Market Value - hard to find direct comps since there is an old 1950 house in front and a 1987 2 story in back. I don't think there is any direct comps like this in this very nice area.
So, I'm not sure how to list the price.
The inside is not upgraded and pretty basic but neat and clean.
At this point, I think a potential owner will live in one and rent the other ( or possibly rent both ) with income about 60K per year fully rented.

I agree that I would need a cash out sale and then exchange into something with much better return with about 500K-600K equity.

So, I need to figure out who to list with and how to assess the market value for sale.

Thanks, Richard C :D

@Aaron,

Thanks ! But I don't own free and clear
and have to get about 35% down to cover my existing mtg and costs of sale.
What percentage rate can I ask for 6 7 8% ?
Then I would use that monthly income to pay for other properties ?

Thanks, Richard C

Hi all,

I have a duplex in Costa Mesa Ca area
that i have owned for a long time and now
but I'm only getting about a 3-3.5% return on equity.

I'm not sure I can improve the property better to try to get more rents and i think I should try and get a much better return in out of state investments.

I'm thinking of a 1031 exchange into a portfolio of properties.

What would be some good ( creative ) ideas to sell in such a bad market ?
Finding the proper Realtor etc.

Maybe even trade ?

Your thoughts ?

Thanks to all, Richard C.

Hi all,

As I'm "thinking" about investing out of state in LV or PHX, this post clearly shows the dangers of relying on unproven PM's to handle a property in your best interest.

So, it seems that selecting the proper support team of PM, repair, cleaning, landscaping, etc is one of the most critical steps after buying right in the proper area and getting a good tenant.

It seems that some PM's can do the tenant screening and advertising but don't care about the timely repairs and costly problems since it doesn't benefit them.

Please advise on how to get the right team out of state.

Thanks to all, Richard C

Reearch: There is an alternative to the popular "Orange Oil"

Tim-bor - non toxic

http://www.accuracypluscalifornia.com/non-toxic-los-angeles-termite-control.html

Some research on evaluating ...

Texas A&M professor writes ...
How to Select a Termite Control Service
http://insects.tamu.edu/extension/bulletins/l-1785.html

Due diligence in checking out Termite Companies, warranties, referrals etc.

LA Guy

Hi Michael,

Ok, I agree but how to find a Pro at a reasonable cost ?

It comes down to finding an expert to evaluate the extent of the damage to determine if Orange Oil can be used locally or a complete tenting is required.

Thanks, LA Guy

On the Web, I read that Borate pesticides t can be used to treat wood ( but best done on new construction ).

http://www.domyownpestcontrol.com/boracare-p-100.html?osCsid=6c6869e91c33c5c6dd6301d832e4a6cd

Wondering, if this is an acceptable DIY option for spraying around the property ?

LA Guy