All Forum Posts by: Shiva Bhaskar

David, there's definitely some price softness, but I think you did the right thing. My experience is that in the C class areas (where we focus) prices have held up well, but in better neighborhoods, you've seen more price drops. The Hollywood area, and a bit south of there, for example, seems to be getting flooded with 1 bed rentals in the $1550 to $1800 range. Yet, you go to many of the areas in eastern LA County, or even south LA, and rents have held up much better. 

Hi JJ, interest only private money products can be found, but you may have to do a bit of digging. I'd start with companies like Conventus, Civic and CoreVest, and see if they can help. Otherwise, connecting with a mortgage broker may help. Some of them know private individuals looking  earn a yield on money, who may be open to this.

Also more reason to be more cautious, as a landlord, in potentially dangerous tenant interactions. If your state offers CCW laws, get trained and be prepared. 

Hey Tanner, a few thoughts:

1. Folks are busy right now. Market has been crazy hot. They have a lot of business coming in and going, at least the good ones do. So, they unfortunately are less interested in helping newer investors.

2. I'd give folks a bit of time on the call backs, for same reasons as #1.

I think you might benefit from going to more meet ups and real estate events where you can engage with these folks organically. Nothing at all wrong with over the phone, believe me. With that said, informal and in person is often quite effective as well. 

Hi Jennifer. I would say that we are still early in the month. I would not assume the worst yet. I do agree, however, that things are off to a bad start. If you're not comfortable, bring someone with you. If you hear nothing after about 15 to 20 days, you want to send formal notice, ideally working with an attorney. 

The eviction moratorium is in place, but evictions for health and safety are still happening. If you have those grounds, you can still get them out. However, the moratorium is ending soon, so if you have to evict, you're in a better position than if this happened in say November or December of last year. 

Just a thought: This is not just the decision of politicians. You've already had federal judges in Texas and Ohio find the moratorium unconstitutional. As we get into the summer, and things get back to normal, courts are going to hesitate to let politicians keep using the pandemic to kick things down the road. 

Hi Chantelle. Are you in Los Angeles city or Los Angeles County? If not in the city, which city within the county are you purchasing in? The reason I ask is that the answer depends.

In city of Los Angeles, properties built on October 1, 1978 or earlier are covered by the rent stabilization laws. Under these laws, there must be "just cause" or specific legal reasons for removal of a tenant. Owner occupancy in a duplex would certainly qualify, but you'll have to pay relocation fees to the tenant, and file a declaration and give some time before moving them out. These relocation fees are typically thousands of dollars (sometimes tens of thousands).  

If you're not in the city of Los Angeles, then it depends on city. I think Santa Monica and West Hollywood have special rules. Other than that, the state law applies. State law does allow you to move out a tenant for your occupancy, but you'll want to check on the specific rules. I do know a very good landlord attorney in Los Angeles who helped another friend of mine who owns a duplex and lives in one. Feel free to DM me and can share his information. 

Anyone who has purchased a property, or considered doing so, has heard about "title." Yet, few understand what it really involves. To demystify what title really involves, we've invited an expert.

Annie Fan is a vice president with Chicago Title, which is one of the largest title insurance companies in the nation. Annie will be discussing how title insurance works, why it is so important, and how you can educate yourself about title issues.

Title is an incredibly important part of real estate investing, so you won't want to miss this educational discussion. We will see you there!

I agree Matthew. Single family BRRRR in less fundamentally sound markets always scared me. We know that big investors do a modified BRRRR on apartment complexes, hotels etc, but that is a very different game. I say modified because you rarely take out 100% of initial capital on those deals, but you do get close to it, and hold long term. They're often buying with long term, lower interest debt, adding value, and refinancing with long term, low interest debt.

Hard money loans with crazy rehabs in less desirable areas are a very different things. You and many other experienced folks know what tenants and construction issues can cause in a problem property. 

We use the street address of property. So, 4523 west 111th street, and so on. If you're holding multiple in one LLC, try a generic name like "Prosperity Realty Partners", something which does not have your name in it. I am not a big fan of having an LLC that identifies your name in any way.