All Forum Posts by: Nicole C.

Hi guys, 

I need some advice on a tenant that didn’t pay rent in full last month. Rent is $2,800 and she only paid $2,500. My mortgage is just under $2,600. She also never paid the deposit in full. It’s in Compton, CA (willowbrook) Im currently out of the country working remote and would rather not deal with eviction if I can. Any advice on this for people who know eviction laws specifically in Compton area? Also looking for referrals for real estate attorneys. I heard eviction because of owner move-in is an option. Thank you in advance for any advice. 

Thank you for everyone for your advice and responses. Sorry I wasn't clear on this, I asked for first month's rent and last month as a security deposit. $5200 in total. I then charged a late fee of $100. I did not ask for a separate deposit. She is short of $1100 of the $5,200. 

Hi All, 

Someone moved in to my first rental property. She is struggling to pay rent on time. its only the first month. I asked for the first and last rent and she is still short. Any advice on how to move forward? I have a $2600 mortgage and I want to get ahead of this problem as soon as I can. 

Thank you in advance,

Nicole

Just purchased my first SFH 2bed 2bath in Willowbrook area. Original plan was to house hack it but weary of surrounding neighborhood and its crime rates. Plan to purchase ADT. Any advice?

house hack plan:

Mortgage: $2600

Rent: $1600

My portion of mortgage: $1000

vs

Mortgage: $2600

Rent entire house: $2800

my own rent expense: $1325

$1125

of course, I would account for savings for repairs, etc. but as a basis this is what it looks like. 

Should I live in property and house hack or stay where Im currently comfortable living in? Thank you in advance

Does anyone have any advice on buying a condo vs a SFH in LA? Are HOA fees worth it? If trying to house hack what would be the best option? Condos seem much cheaper but do HOA fees offset that difference? How much should allocate for repairs in a SFH?

@Jon Schwartz my budget can only handle a single family home for now. I haven’t met anyone willing discuss a duplex or beyond that. But I’m okay with it just to get started. I’m still pursuing my CPA until June 2021 so my focus is a little skewed to that. It sounds like you have a great start with a Multifamily unit. What’s your occupancy like and what type of tenants? Are you cash flowing?

@Kevin Walsh thanks for the tip about ADUs I’ll look into that. I was thinking about adding a bathroom to let’s say a 3 bed 1 bath. I’m not sure if that’s the best strategy for forced appreciation. It seems like it would be pretty expensive to add but may be worth it? What are your thoughts? I was looking to buy in the Boyle Heights Area. It sounds like gentrification is playing a huge role in that area. I’m also using the first time home buyers program here in LA and waiting on the release of grants around September/October area so I probably won’t be doing a conventional loan. I was definitely in a rush at first to buy at first but waiting for the COVID aftermath seems worth it to me.

Hi! I’m new to the area. Anyone have any advice on house hacking in LA? Should I buy now or wait?