Have been driving for dollars, looking at Bigger pockets market place, checking with wholesalers as well as regular internet sites.
It's frustrating as it seems there is no margin in any of the properties that are out there. They list Un-rehabbed at what they should list rehabbed (checking comps in the same area).
Is LA market tapped out or is it just a matter of pounding it out to find a deal. Are there other ways to find SFH's that are not
on the source streams I mentioned? Any suggestions would be greatly appreciated.
You're experiencing the struggles that a lot of other investors in LA have. Unfortunately, there are a lot of newbies bidding up unrehabbed properties to where it doesn't make sense or many buyers are buying rehabbing themselves and living it in.
Unless you have a great relationship with a realtor that focuses on fixer properties or a wholesaler, you'll have a pretty tough time.
You could also look for multifamily homes instead
@Jo Kinal yes the Los Angeles market is very difficult to find an amazing deal. There are definitely deals, however, you have to be flexible on location, renovation requirements and other small details.
When an amazing deal comes on the market the first individuals that get those deals are going to be the cash buyers since they do not require a loan approval or loan contingency. If you don't require those and you have cash you are in a much better position then many other investors here in Southern California.
In my opinion Los Angeles is not tapped out but be flexible on location and you'll find something. Right now some of the best deals are near the USC area. There is a gentrification process taking place near USC, North Inglewood and South Inglewood but the better deals right now will be found near USC.
Thanks so much for your feed back, that was my feelings also. I appreciate your time to respond :)
South LA westmont and compton watts still relatively reasonable for a return but of course you are dealing with a very different market. Hawthorne has some interesting pockets too
I appreciate all your replies :) thank you for taking the time
You either have to go to neighborhoods that arent as 'hot' as culver city, pasadena, west side, etc. and you have to create a deal, whether that means adding units, doing STR, raising rents, whatever.