All Forum Posts by: Peter Pettersson

For Long Beach California, c+ / b- area. Assume most things needs to be permanently mounted to avoid theft.

Table / chairs / bbq / sun sail / other? 
Preferably few to no plant.

Contemporary or modern style would fit the house colors.

Please link/post photos for inspiration. If you have price ranges as well that would be amazing! (The house / fence will be dark grey with light grey / white trims, old picture)

Thank you very appreciated!

@Jennifer Buchanan

Some of the things that need to be done are:

Removing cigarette odor and painting walls

Replacing a toilet

Installing new locks

Resecure kitchen range went hood piping

Kitchen and bathroom counters need to be recaulked.

Replacing blinds

Reattach a cabinet in the kitchen

Have a triplex in Long Beach, self managed, need a new handyman ASAP. Any recommendation?

Hi all,

Situation: Have an accepted offer for a fourplex in San Pedro. Walked the property and its a complete redo outside and inside (mold, water damage, sewer issue, etc). The numbers are tight. The construction project would not start until 12 months from now. 

Complication and main concern for backing out: One of the current tenants have lived there for 20 years (over 62 years old) and one is section 8.

Questions: 

• Can anyone share their experience with evicting tenants in LA county for major renovation (I assume that the current Covid regulations will be lifted 12 months from now)?
  
• Can anyone recommend a good lawyer that I can consult with?
• I read that Cash for Keys can be rejected in Los Angeles County, whats your experience with this?

Thank you in advance for the help!

@Chelsea Ziss would you mind sharing a few of the local turn key companies from that are (Toledo)? Thank you in advance!

Thank you all for the help and guidance! I will absolutely explore all suggestions! Keep the ideas coming.

1. Will check out all the house hacking resources mentioned, be less conservative, and explore more hands on properties with expansion of cash flow alternatives.

2. What out of states do you think I should start analyzing? Would defiantly seek turn key / ready package style in other states

@Tyler Hungerford: Will send you a PM to hear more about Riverside pros and cons if that ok?

Again, thank you all!

Thank you for the answer! On cash flow: Ignore the one time costs ROI. Roughly the negatives include: 1. Insurance 2. Property management & Maintenance (work a busy job, so expect to contract for most). 3. Property Tax. 4. Potential HOA. 5. Vacant rate (assumed 1.5 month, year on average) 6. Mortgage (principal & interest). I do not add principal back in, since its building equity, but negative on monthly cash flow. Am I missing something? Again, these numbers differ a lot dependent on property.

Will check out Corona and Temecula.

I will check out Reination and RCPinvest - great tips!

Good point! Not sure this covers all, please let me know if I am missing something >>>Primary been looking at single family, 2-3 room with 1-1.5 baths. I have primary been looking at the first property to be closer to a turnkey or with sub 10k make ready costs and secondary property as a fixer upper (30k-40k make ready cost). I been using Mashvisor to get some quick numbers as well as tweaking the numbers in my own excel sheets. Maybe I am too conservative. If anyone else have experience with Mashvisor, do you believe their numbers are optimistic or conservative? I am not following a 1% or 2% rule that many subscribe to, because I think it narrows the initial scope too much or the learning for a beginner like me. I might be wrong on this? I do plan to validate with these models before buying. Other than Mashvisor, primary been using MLS, and looking at San Bernadino county - especially between 15 and 215: as well as some quick searches in OC. Have not started to contact wholesalers yet or flippers. Maybe that's my mistake? Forgot to, for the first one, trying to find something with 600-900 in cash flow - but might be too high (assuming 30%-35% in cash down - rest mortgage at roughly 2.8. Price of course very dependent on area.

Hi, I am new at BiggerPockets & realistate investing in US.

I have been researching several SoCal cities for our second and third realistate investment property (first investment property in US - long story). However struggle to make something look attractive from a numbers perspective (decent positive cash flow, not too focused on value increase or decrease). What cities or areas should I be looking at? Preferably not more than 3 hours drive from OC (Laguna Niguel).

Can put about 100k-250k cash into it one or several properties dependent on area. Will not have a problem to get approved for mortgage(s). This is a retirement investment (have 20 years to go) and do not need any additional monthly cashflows short or mid term, so all will go to into more and more investments. Please note, I am not in a rush and will be ok to wait until Covid and/or the market correct itself, should I not find something. Spending a lot of time reading books, following YouTube, listening to podcasts as well (what sources do you recommend for a beginner to the US market). 

What’s my best strategy? What areas should I be looking at? Should I look at other states? Any other general recommendation appreciated!

Thank you in advance!