All Forum Posts by: Vivian Huang

@Karl B. Thanks Karl! Yeah, I'll probably head in that direction. To have them cosign, do I just have one or both parent fill out a rental application, and I just check their references and credit just as I would any normal tenant?

Hi all!

I live in my 2B/2B condo and I'm hoping to rent out the 2nd bedroom. I found someone who just graduated from college and said that she doesn't have the best credit because of some credit card mistakes she made in college. However, she said that her parents will be helping her pay for rent for the first few months and that I could check her parents credit background.

What should I do to verify she or her parents will be able to pay? Do I have her parents cosign on the lease? If so, how do I do that? Should I still check both their credit backgrounds?

The rental will likely be short term (6 mo- 1year), so it's a not long commitment, but I still want to make sure I do my due diligence and avoid any potential headaches! Especially since she'll be living under the same roof as me.

Thanks in advanced!

@Steve Yang Also curious if you had an update to your chi town investing. Did you ever find a property? If so, in what area and are you still investing here? Would love to hear your experience.

@Henry Lazerow Not sure yet exactly, but I'd love to get the conversation started and network with some property managers. I know... not the most helpful answer as Chicago is a pretty decent sized city. I'm looking into areas in or near downtown. Likely 2-4 units, but open to SFR or even condos.. however I know that property managers may not want to manage condos.

@Jeremy W. I have some family that live in DT Chicago, which is why I'm looking into property there. Would be great to visit for both fun and business.

Welcome to BP! I wish you the best in your journey. I love the idea of househacking. If I knew about BP before I bought my condo, I would have went the househacking route.

I live and grew up in Southern California so I have been going to Vegas my whole life. My parents used to invest in Vegas, but pulled out a few years ago when the economy was down (plus, they didn't really trust their property manager). It looks like Vegas is coming back up, and I'm also looking into investing there myself.

Hi all. I'm looking to invest in Chicago and am looking for some good property managers to work with. Can anyone provide a recommendation? Thanks in advance!

For those that have a positive outlook on Chicago for investing, is there any worry that all the new development in the city will create an oversupply of rentals?

Great episode with so many actionable tips! I especially like the MINS advice. Real estate can be overwhelming but it’s important to break down bigger tasks into smaller, more manageable tasks. David Greene is also a great co-host and is so articulate! He has the best analogies too. I hope to see him on more podcasts!

Ha! Nevermind - I got it. For some reason, I thought it was some advanced term I'd never heard about 

Hi everyone! My name is Vivian and I'm from Los Angeles, CA.

I got interested in real estate after I bought my own primary residence last year, and started managing my parent's SFR around the same time. Soon after, I came across Bigger Pockets and read Rich Dad Poor Dad, which sky rocketed by interest in real estate, after realizing it wasn't as daunting as I thought it was.

My goals are to close at least 2 deals this year. I'm looking in both LA and out of state, although OOS seems a little bit more tangible at the moment (trying not to get paralysis by analysis). I'm primarily looking for multi-family units that cash flow. Eventually, I'd love to get into flipping and adding value to property.

Happy to chat and toss around ideas/strategies with anyone! If you're in the LA area (I'm in West LA & DTLA) and want to get coffee, I'm always down for that too.