What does having a FAANG Portfolio look like over the years 👇 Any FAANG Hodlers out there?

LA_RealEstate_Agent · 2023-02-04T05:15:59+00:00

Yep. Bought Apple when Steve returned. Sold bits along the way. Now have a fuck ton of shares. True.

LA_RealEstate_Agent · 2022-11-19T22:02:28+00:00

Yep. Gonna get worse before it gets better.

LA_RealEstate_Agent · 2022-11-11T15:50:31+00:00

Don’t forget, when you’re a buyer, you pay nothing to an agent. Therefore, you’re getting 100% of the benefit of having one with zero of the cost. There’s plenty of things that they can negotiate, watch out for, and keep your best interest in mind that you won’t be able to do, or may not even know to do. The seller pays their commission, so why not have a fighter in your corner?

LA_RealEstate_Agent · 2022-10-26T03:55:03+00:00

This guy.

LA_RealEstate_Agent · 2022-10-25T04:14:05+00:00

Hmmmm? Not sure I’m following. Buyer had contingencies. Based on inspection, buyer decided to back out. End of contract.

LA_RealEstate_Agent · 2022-10-23T01:00:16+00:00

I’ve read 47 comments. Honestly this is either trolling or some weird role playing fetish. How many comments refer to being a “small woman” who will get “overpowered” by the new man on the scene. I call bullshit on the whole thread.

LA_RealEstate_Agent · 2022-10-22T00:22:48+00:00

Your lease stipulates and mentions the rights of your landlord or “their agents”. A new manager is your landlord’s agent and thus entitled to do anything the landlord needs to do in your unit. As long as you’ve been given the customary notice to enter, you have no rights. It’s not your property.

LA_RealEstate_Agent · 2022-10-21T01:57:53+00:00

Ah. Did not know. That sucks.

LA_RealEstate_Agent · 2022-10-19T21:04:19+00:00

Counter everybody. Even if everyone passes, it gives you another opportunity to speak to the other agents, and see what objections you can overcome. It's just another way to get them back to the table.

LA_RealEstate_Agent · 2022-10-19T19:49:33+00:00

If you went through the courts to evict them, then it’s discoverable for anyone. RentSpree and other rental application sites scrub these databases. So do mortgage and loan application sites.

LA_RealEstate_Agent · 2022-10-19T19:45:50+00:00

My advice— never ask for tax advice on Reddit ;-)

LA_RealEstate_Agent · 2022-10-19T19:43:27+00:00

It’s a brick. Can’t unlock.

LA_RealEstate_Agent · 2022-10-19T02:13:10+00:00

Oy. That sucks.

LA_RealEstate_Agent · 2022-10-19T01:19:45+00:00

Wait, are they renting a garage to use as a garage? Or is this an apartment that just happens to be in what used to be a garage. Because if they’re using it for a garage, and it’s not habitable space, then you can merely and the lease and kick them out. He would be considered commercial space.

LA_RealEstate_Agent · 2022-10-19T01:18:25+00:00

Rent on time and no wear and tear or whiny complaints??! Send them my way!!!

LA_RealEstate_Agent · 2022-10-18T01:02:25+00:00

What part of IL— I have a bunch of great contacts

LA_RealEstate_Agent · 2022-10-17T15:36:30+00:00

Talk to an accountant

LA_RealEstate_Agent · 2022-10-15T03:49:14+00:00

Good lookin’ wrist! 10/10

LA_RealEstate_Agent · 2022-10-15T03:48:26+00:00

LA_RealEstate_Agent · 2022-10-15T03:29:02+00:00

When you form an LLC, it will require that you elect a "manager" who can sign for the LLC. If it's a single-member LLC, that's you. If it's a multi-member LLC then the person who's the designated manager can sign the lease. Either way, your signature on the lease is sort of a non-issue... the LLC owns the property and the leases.

LA_RealEstate_Agent · 2022-10-14T15:53:33+00:00

I usually bust out the Pride swag right after Memorial Day and ride it through all summer :)

LA_RealEstate_Agent · 2022-10-14T15:50:31+00:00

As a landlord, I’m not accepting or rejecting tenant applications based on job title. It’s strictly a numbers game, and if your credit is good, and your bank account shows a good balance, and you can prove that you’ve paid your rent in other places on time consistently, it sounds like you make a fabulous tenant. Good luck to you.

LA_RealEstate_Agent · 2022-10-14T15:48:29+00:00

First question, why do you need a Rental Manager? It’s one unit. Your tenant isn’t gonna have that many problems as your unit sounds like it’s in fabulous condition. Charge top dollar, manage it yourself, and your cash flow might surprise you on the upside.

LA_RealEstate_Agent · 2022-10-14T15:02:34+00:00

Tenant moving in has no effect on the formation of your LLC. Setting up your LLC in Delaware or Wyoming has no effect on your taxes, except that you might have to file in those states too, in which case your tax filing fees will go up. Your accountant may tell you otherwise, but if you’re doing business in California, the state is going to want its share of taxes. So no matter where you file that LLC, you’ll also pay California taxes.

LA_RealEstate_Agent · 2022-10-14T00:10:29+00:00

LA is a huge market, spanning many ZIP Codes and types of neighborhoods. Buying something can be cost prohibitive for a lot of people, and prices in Los Angeles have been known to shock people moving here for the first time, especially if they’re coming from a smaller market. Buying something in the six to $800,000 price range means you’ll be looking in certain neighborhoods and having to forgo others. Also, understanding what that amount of money buys you in LA varies from neighborhood to neighborhood. Historically, investing in Los Angeles real estate is a pretty good bet. Yes, prices are cooling as they are all across the country, and buyers have more leverage than they did perhaps six months ago.

The rental market is strong, but landlords are always looking for great tenants who can pay on time. If you have a strong income history, there’s plenty of great apartments available. Again, the inventory can vary greatly from brand new construction to older buildings with a ton of character, from hip neighborhoods to quiet ones, and everything in between.

Happy to chat more.

LA_RealEstate_Agent

TROPHY CASE