All Forum Posts by: Sunny Burns

So I received this certified letter in the mail... crazy that it costs almost $7 to send. The mainman said he had like 30 to send around the neighborhood.

The building in question is across the street, one old house on a huge lot. It was bought like a year ago and has just sat vacant for the last year. I do see landscapers mowing every once in a while but that's it.

Anyway is it common for builders to need to have a public hearing to tear down and build? or only if it goes against code? I feel like this would be a nightmare...

I feel most of us Investors have travel as one of the main passions we hope to be able to pursue more by investing in real-estate. So whose actually been able to do it?

I'm only 26 and just starting as an investor(Quadplex and under-contract with a Triplex) and so far I can claim 8 (#2,8,51,59,60,64,75,88)

We just used Liberty Mutual for our quadplex(Two Duplexes on one lot) in Garfield. $2000/year.

@Monica Diaz hesitant to say at this point since we are not being under contract, due to the sellers Lawyer being in Disneyland for the week. But I'll PM you the details.

What do people typically ask for when filling out an OPRA(Open Public Records Act) Request in regard to finding out more about a property you are looking to buy.

We've done this in the past, and asked for:

• Tax Ledger
• Open and Closed permits on the property

What other records should we be asking for?

So we just placed an offer on a triplex with all separate utilities, currently, there is only one washer dryer hookup in the basement. There's only really space for the one set, but its set-up under the one tenant's utilities and only they can use it,

I feel that washer/dryer access on premises is a huge deal, and it is a tremendous waste to just have one tenant have access to it, when you could very easily since all tenants can access it, put in a coin-op for everyone to use. Unfortunately there not House gas line, but there is a house electric line,

Is it worth putting in an electric coin-op dryer, or better to work out some deal with one of the tenants to pay for the gas, and get a more efficient gas dryer? Definitely leaning towards just sucking it up and putting in the electric coin-op, but wanted to see people's opinions, and maybe hear that electric isn't as bad as people say... thoughts?

 Gross Rental Income, although they factor in their own costs for maintenance, vacancy and the like. And yes they only give you 75% of the gross rents.

So about a month ago, we sent notices to renew our tenants leases, we received a reply from one of our tenants(married couple, great quiet tenants, always pay on time), she said that her and her husband were struggling in their marriage and were thinking about splitting in August, so wanted to know is they could do a shortened lease and if she could find roommates afterwards cause she wanted to stay either way.

Anyway I gave her the Five Love Languages audiobook(my favorite relationship book) and she said she would give it a listen.

Two weeks later, she and her husband(reluctantly at first), listened to it all the way through. She said they spent a lot of time talking and crying... she said it was really good.

Anyway yesterday they gave us notice that they would be renewing for the whole year! 

 Although I agree with you, I also feel that my kids shouldn't just be offloaded a real estate kingdom(should I be so lucky) without proper training. And although a lot can be learned following along. I feel the best teacher is experience and if they can have one property that they crunch the numbers on and buy themselves, manage themselves, and are responsible for - I think that will go a long way in preparing them for their eventual inheritance.

Although my perspective might eventually just change completely to yours as my kids are both under 2. So we'll see. Thanks for the input.

@Deanna McCormick thanks for the info. Any recommendations on how to get kids started in modeling? My Son is a cutie!