All Forum Posts by: KC Zhang

@George,
I'm glad to see fellow investors from OC on this board.

I think you can find someone with cash as an equity partner to provide the down payment and get financing with your W-2.
You can invest in other states, but there are still cash flow properties in CA. Just need to look hard for them.

Good luck!

Casey

Conor, your offer price should be based on your local market condition. You can ask your agent to ask the listing agent to see what is the banks bottom number. As Kevin mentioned, here in SoCal, you have to offer full price to be considered by the bank. It's war zone out there. Most of the REOs in my market are over-priced. I picked up a short sale duplex in Riverside last year for less than 200k. A similar model just listed about two weeks ago for 310K, and it is under contract now. It would be interesting to see how much it was sold for.

Cheers

Casey

Greetings!

I need to replace the central AC/furnace units for a duplex that i own in Riverside, CA. The current units are more than 30 years old and have the compressor on the garage wall. I would like to relocate the compressor on top of rool.

I have got quotes ranging from 4k to 8k per unit. The lowest quote doesn't include any fees related to pulling permit. The city requires an engineering drawing (wet seal) as part of the permit.

Here is my dilemma... do I absolutely need the permit to replace the AC?

Anyone knows any good engineers or architect in Riverside Country, CA?

Or, shall I go with the AC company that can do permit for me?

Thanks for yoru feedbacks.

Casey

Thanks for the replies. I guess this is the agent's way to compensate the tenants for letting him showing the property to potential buyers. Will I be liable to force the tenants out when I take position of the property?

Thanks

Casey

I'm working with an agent on a short sale with Chase. The agent mentioned a rather interesting arrangement...the property is tenant occupied right now and they don't want to move. The agent said it is a HAFA short sale and the tenants will get $3000 payout and move out if the short sale goes through.

I did a search on BP and didn't see anything on payout to tenants on HAFA short sales.

Any comments?

Thanks

Casey

I'm looking to buy 2-4 units in Austin. I have seen listings at 200k for duplex, which sounds high to me. Anyone can recommend an agent specialized 2-4 units?

Thanks

Casey

@Brendan, I am thinking about the a tool like this for few days. I even created a requirement document and plan to have it developed. Very straight forward program, input a list of properties information (address, # of br, # of ba, sqft, etc), go to Zillow and get Zestimate and rent estimate.

Programming efforts is very limited, since Zillow has open API. I will let you guys know if I have it developed.

Casey

Your repair estimate seems low to me. As one previous reply suggested, you definitely need estimates from few competent contractors.
Base what you posted, it doesn't look at good deal.

There are commercial real estate information systems available for a fee. CoreLogic has Realist that is mainly targeted to MLS customers. If you have RE license and below to MLS, you can access it. Pretty sure there are other similar systems.

These are really good points. I really appreciated.
I'm not sure how fast these properties sell. Looks like I need to do more home work on this.

Thanks again!

Casey