All Forum Posts by: Young Kim

@Dave Stanley @Jason Kudo Thank you so much !

@Jason Kudo Thank you so much for your answer! It was a great information to keep in mind of!

@Jo-Ann Lapin Thank you so much for your advise and input. I really appreciate it!

@Luke Trovinger Thank you so much for your advise and input. I really appreciate it!

Hi biggerpockets fam!

I was wondering what you think about purchasing a land to build an air bnb investment property in Joshua Tree, CA. Also, if it would be better to buy an already built property instead. I have no experience in flipping or construction, so any advise would be helpful.

If anyone has an experience in investing in Joshua Tree, please let me know about the pros and cons and what to expect.

Thank you so much in advance!

Hi biggerpockets fam!

I was wondering if there are any cons of purchasing properties that are pretty old (built around in 1950 or even older than that). Many people think old properties will have a lot of maintenance to overcome, but people who say so don't know which part to worry about specifically. I was wondering if I can ask your your honest input on this. What can go wrong from purchasing an old property? Should I still worry about it even if it has been remodeled? Or if I just do the inspection correctly and spot the issues, will it be okay?

Please let me know, by the way, I am talking about properties in Southern California in case it varies by regions.

Thank you so much yall!

@Ryan Husser

I see. Thank you so much!

@Ryan Husser @Cody Neumann

Thank you so much for your answers! So basically, base your percentage off of your gross rental income and that should be somewhere between 5% ~ 15% depending on the condition of the property, right? And its for repair and Cap Ex.

Hello Bigger Pockets Fam,

I was wondering how much I should be putting aside for reserves for maintenance and repair costs for my rental property. I do not want to underestimate the cost and get hit with a lump sum later in the future. This rental property has a brand new roof, floors, rennovated kitchen, new plumbing pipes, and new paint job done. I wanted to know if there is any formula you guys follow such as 1 percent of the property value, or 1 percent of insurance premium deductibles. How do you guys plan to find out how much money to put aside each month?

Great appreciate your answers in advance. Thanky you very much!

@Lucia Rushton thank you very much for your response! :)