All Forum Posts by: Steven Hong

@Jiji Kim Hi JiJi! Congrats on taking the journey! I’m a Certified Home Inspector in SoCal (OC-LA) would love to be available to you for any inspection you may need in the future! GL on your journey 🙏

@Darren C. Hey Daren feel to PM me if you’re still looking. I definitely can assist you.

@Mattian Tad hey there! Send me a PM I may be able

To help you with this.

@Sanjay Sharma Hey Sanjay. Congrats on your new

Triplex. I have a few contractors I work with that focuses in the Long Beach area that I would definitely recommend to you. Let me know if your still looking.

@Bo Sim

Hey Bo,

Texas in my opinion is definitely a safe investment. Especially as a buy and hold out there in my opinion.

Dallas market is great. If your looking to make a move it’s definitely a good time as the market is shifting.

Also, Be sure to check the property taxes as they may differ area to area.

GL!!

Best,

Steven

@John Underwood

19/20. Seems reasonable if your renters are in SC.

Curious to see what your numbers are for next month which would really help your data right?

@Gary L Wallman

Gary,

40% to be exact and If you have been paying attention, California was the first state to issue stay at home orders. This was not a few weeks ago.

I appreciate you giving me advice on how to screen my renters but it doesn’t change the fact that next month you may face this same issue as well considering how many millions are filing for unemployment right? Wishing you the best during these UNPREDICTABLE times.

Respectfully,

Steven

@John Underwood

6/10 of my tenant paid up for April.

The 4 that wasn’t able to pay have good jobs but are out of work right now.

Most renters don’t have immediate emergency funds. I highly doubt we are going back to business as normal when this is over. Most people will be playing catch up. It’s sad but it’s true.

A recession is imminent.

@Aaron Sheagley Swiss coffee is my favorite for flips. It’s an off-white color collection that is highly sophisticated and versatile. This color is hot especially trending for flips right now especially in SoCal.

Good luck!

@Jane S.

Happened to me recently..

Tenant paid a year in advance all cash plus first and last months. My PM said everything looked

Great on paper. Both husband and wife worked.

They made good money...

After one year, they wanted to renew. I wanted a home inspection done so we set it up...

When I walked in with my Property manager we smelled something funny. ( This is an upscale

Area btw.. rent was $4500/month 3000 sq ft home with huge pool and breathtaking view that allows

You to capture Disneyland fireworks nightly.)

I noted it and continued on. We went through the house and everything seems fine.

We eventually went to the backyard and I noticed the pool was empty. NOTED.

He mentioned that it was failing so he had it drained so He could fix the leak.( he owns a pool company so he said ) I thought it was strange and asked why he didn’t report it, he said it just happened recently and he didn’t want us to stress about it and would

Take care of it himself.

So after the inspection, I walked out to my car.

A neighbor walks over and asked me if I owned the home which I replied yes. She stated that he was growing 50-75 plants in my pool at a time and had recently had it removed. I was in disbelief.

Long story short, we didn’t renew the lease. He made it difficult and didn’t want to move out threatening us with all sorts of bs. In the end I had to do a cash for keys deal just to claim my property back. Lawyer said it would be a long process due to tenant rights ha.

After the cash for keys deal.. ($5000 fml)

I end up doing a more detailed inspection and found that the pool was rewired and drilled with holes to run his operation..

In total the repairs of the whole house is costing me 50k..

That 50k is a huge lesson I learned. To be honest I even suspect my old property manager was in on this.

Good times! Ha never again. So yeah if it’s too good to be true it normally is...