All Forum Posts by: Steve Graves

@Drew Leo You are right on the money about building and safety not helping ADU projects move forward. I was told by an inspector and a front desk employee they are against ADU's because they don't want them in their neighborhoods. So, until the mindset of the people we depend on to move our plans and permits forward, changes for the better, it will continue to be difficult in LA County. In the long run it will be worth it but I can't even begin to say how difficult it has been dealing with the county.

Check out this interesting read, very informative to most of  us on here:       

https://www.nreionline.com/investment/investors-turn-safe-haven-us-real-estate-wake-coronavirus

I'm in so cal and  have received 100% of my rent payments this month. Never thought I'd be so happy that some of my tenants are receiving public assistance. They always pay and usually on time.

Anyone having any issues with LA County planning dept?  I talked to them a couple of weeks ago and their offices are closed to the public. They did say they are continuing on with plan checks. They also said they are still dealing with a large backlog from the holidays. Very interested to hear if anyone has any info on the progress of their rehab or new construction.

I sure hope he is not telling the truth, I'm getting ready to pull some cash out of a 4plex. My lender also handles my hard money loans and hasn't indicated that this is happening. I'll post back here as soon as the loan is started. Waiting for the rates to come back down to 3.5% again to pull the trigger. Keep us posted on here if you find out more info. I sure don't want to  waste paying for the appraisal if there is some kind of freeze. Maybe it's because yours is a jumbo loan? Mine is nowhere near the amount you're refinancing.

Just came across this article. Workers that have lost their employment because of the corona virus are  waging a war to not pay the rent. Not just a delay but a full on don't have to pay the rent for 90 days.

https://apnews.com/1bd0dccae3f84e380af62b3dd91ee26e

This should concern everyone of us on here. It's a direct threat to keeping our properties. I keep hearing about help with our mortgages but that is only government backed loans and I'm sure the majority of us are not on government backed loans. I can support giving my tenants a break for a couple of months and letting them payoff the missed rent over time. I know this isn't their fault but we should have some kind of protection if the states are going to back this rent strike.
 

@David Frandsen. If It is an existing structure you will not need solar. 

I don't know any eviction attorneys in your area but make sure you do use one for your eviction. I use a paralegal in my area and it's usually around $600 plus court fees. Just hope your tenants have never heard of BASTA,  non profit tenant attorneys. I'm taking over possession of a property that I bought with tenants in an eviction situation that were using BASTA. I got a great deal because of the tenants in eviction but the cash for keys cost 4k to get them out. If you don't pay them off BASTA will take you to court. Good luck, hope it goes well for you.

Your plan to buy a duplex and live in one unit is sound and safe. Fix it up, refi and do it again.

If you're ready to buy I say go ahead and get your feet wet and learn the business and buy the multifamily. Don't let, "analysis paralysis", get the best of you. Do your due diligence as much as you can and go ahead and try it out. As long as the roof looks good and the heating and air is working well, you should be ok. Those will be the big ones that can bite hard. Get a credit card that you would only use for repairs on the property.