All Forum Posts by: Shiva Bhaskar

Attorney here. I am not going near the vaccination debate (this is Bigger Pockets, not Bigger Politics). However, two points

1. I've seen folks bring up HIPAAA. HIPAA rights apply to conduct by medical providers, and there's no private right of action. This means that only a governmental body, like a state attorney general, can sue over HIPAA. You or I can't sue over a HIPAA violation. I don't think this would be one anyways - businesses tend to have a broad right to enforce vaccine rules. 

2. To my knowledge, not being vaccinated is not a protected class. This isn't to say that I agree with what the landlord is doing (I would not do it) or that it's automatically legal. If he's evicting people on the basis of vaccines, it's hard to see it as a valid grounds to remove a tenant. However, if he's not renewing leases, rather than evicting, he might be within his rights. 

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Hi Lauren, we buy and upgrade multifamily properties in Los Angeles, but a few of the things I'll say below apply anywhere in CA:

1. Rent control laws. We have state rent control. Cities like LA, SF, Berkeley, West Hollywood also have their own laws. Make sure you know which laws apply where you're buying. 

2. Zoning obviously. Realtors will sell a development dream of a property, make sure you verify.

3. In urban areas, areas can go from bad to OK quickly, within just 1/3 of a mile distance. In parts of LA where we invest, some investors could get stuck buying on a bad block and have a terrible experience, but those who know will purchase 10 blocks to the north, and will be fine. 

4. Rehabs are pricy here and workers are in short supply, like everywhere I suspect. 

5. Try to buy in an area that is supply constrained, i.e. there's demand but it's tough to build more. This is why Los Angeles and San Francisco have done so well in terms of appreciation, but a Bakersfield or Fresno, while still good, is not quite as strong for long term growth. 

6. Taxes of course. Proposition 13 is your friend. Big time. 

This is a great one Daniel! We do a similar approach here in LA, and it's great to see other investors succeeding with BRRRR. I hear too many people tell me it's not possible, and as you've shown, it absolutely is.

Hey Donald, we syndicate apartments, so I have some thoughts on this. Yes, you should be compensated for putting this all together etc - typically that is in the form of an acquisition fee. You'll also charge an asset management fee and property management fee in most cases. We tend to keep our fees on the lighter end, but pretty much every syndicator needs compensation for the things. 

Hi Jonathan, this may be possible, but I'd definitely consult with an attorney who handles SEC and syndication issues first. I've done syndication before, and am happy to share the name of our attorney if that is helpful. He did a solid job for us. 

 Hi Kendall, welcome! I'm a local investor in Los Angeles. There are many great meetups and resources here. Whether you want to invest locally or go out of state, I think you can find what makes sense. This is a great community here, so best of luck to you! 

Peter, all are welcome! Please do bring your friend. 

I am not a wholesaler and have never wholesaled. I also have come across some good and some terrible wholesalers. Also, Setting aside the question of licensing and all that, you mentioned "try to find a buyer when the seller could’ve gone directly to a flipper."

The seller COULD have done that, sure. However, they didn't. Perhaps they didn't know the flipper. Maybe they were busy and didn't bother. Perhaps they never thought of it. Maybe negotiating with an aggressive investor is uncomfortable for them, and you put the at ease. 

Facilitating a transaction takes initiative and work, and there's nothing wrong with being compensated. I don't see the concept of wholesaling as unethical, though there are plenty of unethical wholesalers. The same is true of realtors and investors. 

Hey Corry, it's this Sunday, September 12. 

Los Angeles investors, let's get together for breakfast & talk real estate! We've all missed in-person meetups - so we decided to host one.

We'll be linking up at the Great Room Cafe in Redondo Beach to enjoy breakfast, talk real estate, and get to know each other. After a brief introduction by ourselves, we'll open up the floor for folks to discuss whatever is on your mind as a group. After that, you'll have time to connect with other folks attending.

To support this wonderful venue, which has generously allowed us to meet here, we ask that everyone make a purchase of a delicious breakfast or refreshment. Agenda is below:

930 to 945: Arrive, settle in and order breakfast
945 to 10: Introduce the meetup hosts (LME Investments)
10 to 1025: Introductions of attendees
1025 to 11: Open forum / discussion
11 to 1130: Networking and wrap up.

Note: When you walk in, order some food, and head to the meeting room in the back of the restaurant. The staff will be able to direct you.