All Forum Posts by: Lee G.

Asbestos issues too... find a top notch home inspector and pick apart the property so you know what you are getting into... The rest is just numbers.

it's 3% for both the buyer and seller agents for a total of 6% in CA. That said, when you get to that level, you are seeing the commissions negotiated but 6% is usual.

As eager as you might be to get involved with REI, I'd never borrow against my home to get going. Your home is your home -- period. If you have other assets, go use those first. What happens if you get sick again and can't make a payment? They will come take your home and then the problems get even worse than just being sick. Most people in this biz get knocked for a terminal loop when they borrow against their home to do what you are proposing to do.

Don't go there. What happens when the tax money isn't there? Go find another tenant who had a J-O-B...

If you are willing to live in it, you can get an FHA loan and put very little down. In Ventura County, the loan limit on a 4plex is a little more than $1.4MM.

I did this for my first property and it's worked great... My cash on cash returns are ridiculous and I got great hands on experience that has saved my butt countless times.

Lee

P.S. Go Gauchos! :-)

it depends on how you are holding them... If you can answer that, I could probably help a bit more.

We design sites in both but are more and more moving to Wordpress. We find that the community is much better and it's easier to use.

I know BP is more or less a highly customized version of wordpress...

We just did 900 sq feet of laminate in a 4plex we bought. Lumber Liquators is always awesome. Their prices AND quality beat Home Depot or some other big box store. You'll find that engineered is typically much more expensive than laminate (about 0.75/foot more). You should also consider some of the upper end laminates as they'll have the underlayment already attached, which saves you the hassle of buying and laying underlayment.

And congrats on your accepted offer.

Call your water co and contest it. Mistakes and mis-reads happen all the time.

We had a weird bill like that and we had them come re-read the meter. They called me a couple days later and gave me 75% of the bill back because it was mis-read.

73 is warm... I'm in Utah and we keep things at 68 or so. That 5 degree difference is probably the difference between $100/month and $400 a month. On issues like that, I slow play them. I'll respond with with something like "we'll look into it" and get back to the tenant a week or two later. Issues like this tend to resolve themselves.