Looking for Investor in Antelope Valley California

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Looking for Investor in Antelope Valley California

Alfred Carrasquillo
Assistant Project Manager & Aspiring Real Estate Investor · Lancaster, CA · Member since 2015 · 23 posts · 6 votes

Hello All,

I've been searching for REIA's in the AV and it appears none exist at the moment. I'm new to investing and have been looking to speak with local investors who may be able to answer a few questions about the current state of the market in the AV. I'm interested in 1) buy & hold and 2) flipping properties. However, from what research I've done, it appears the market is slowing down and now may not be the best time for a newbie such as myself to jump in. In an effort to better understand the market, I reached out to a local real estate agent and setup a meeting which took place this past Friday (9/25). She has a lot of experience with buying and selling "homes" however, I got the impression she didn't have much experience with buying and selling investment "properties". Or maybe my inexperience didn't allow me to ask the right questions(?)... Does anyone have any experience investing in the AV? If so, are there any useful tips, advice, resources you can help a new investor with? I would even be willing to work as an "intern" if anyone would be willing to mentor me and/or allow me to shadow them on a deal.

Any information would be GREATLY appreciated.

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Ida Bodin
Appraiser/Investor · Moorpark, CA · Member since 2015 · 2 posts · 7 votes
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Hi Alfred! This is Harold and Ida from So. Cal, and we are Buy and Hold cash flow investors in the AV Market. We have been in this market as investors for around 2.5 years with great success. We are also both Real Estate Appraisers with more than 25 years of experience in most of the Southern California counties. We would be happy to answer any questions that you may have about this market area, and about our investment strategies. Have a great weekend!
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  • Jamie Garcia
    Investor · Los Angeles, CA · Member since 2014 · 122 posts · 35 votes
    11y

    Hey Alfred,

    I'm on the same boat. I was speaking with a RE Agent over the weekend and she said the AV was a good place to get into flipping, that there is still money to be made there.

    What are you seeing in terms of market trends in that area? Is she right?

    I live in the San Fernando Valley so I'm not to familiar with the AV.

    Thanks,

    Jamie

    1Reply
  • Ida Bodin
    Appraiser/Investor · Moorpark, CA · Member since 2015 · 2 posts · 7 votes
    10y
    Hi Alfred! This is Harold and Ida from So. Cal, and we are Buy and Hold cash flow investors in the AV Market. We have been in this market as investors for around 2.5 years with great success. We are also both Real Estate Appraisers with more than 25 years of experience in most of the Southern California counties. We would be happy to answer any questions that you may have about this market area, and about our investment strategies. Have a great weekend!
    7Reply
  • Jim Keller
    Investor · Riverside, CA · Member since 2014 · 351 posts · 220 votes
    10y
    Originally posted by @Ida Bodin:

    Hi Alfred!

    This is Harold and Ida from So. Cal, and we are Buy and Hold cash flow investors in the AV Market. We have been in this market as investors for around 2.5 years with great success.

    We are also both Real Estate Appraisers with more than 25 years of experience in most of the Southern California counties.

    We would be happy to answer any questions that you may have about this market area, and about our investment strategies.

    Have a great weekend!

     Hi Ida

    I'm Jim from Riverside, Ca I have a leases purchase we are in the late stages of negotiating in the Newhall, Valencia area.  Its a 2,500 sq ft pool home we will be wholesaling for around 500K if you have an interest call me.

    Jim

    1Reply
  • Lorraine Hadden
    PT Investor · Palmdale, CA · Member since 2015 · 39 posts · 17 votes
    10y

    @Aflred, I am an AV resident; however, our investment properties are outside CA.  We are now evaluating buy, build and sell ONLY in the AV in 2016.

    BP is a good place to learn about real estate investing! Here are some recommendations for you:

    This Beginner’s Guide is helpful @ http://www.biggerpockets.com/real-estate-investing

    Don't forget BP Pod @ http://www.biggerpockets.com/renewsblog/category/podcast/

    Connect with BP members from your area @: http://www.biggerpockets.com/meet

    Use this link to set up keyword alerts to be notified of the topics of interest @ http://www.biggerpockets.com/alerts

    Much luck in your endeavors!

    3Reply
  • Jo-Ann LapinPro Member
    Loan Officer · Tustin, CA · Member since 2015 · 3k+ posts · 713 votes
    10y

    Welocme to BP.

    [email protected]
    0Reply
  • Alfred Carrasquillo
    OP
    Assistant Project Manager & Aspiring Real Estate Investor · Lancaster, CA · Member since 2015 · 23 posts · 6 votes
    10y

    Hello @Ida Bodin,

    Thanks for the offer, I appreciate it very much! I've been researching the AV market for a few weeks now and what I'm understanding is now may not be the best time to invest in buy & hold due to inflation, monthly rents likely to fall, etc. I'm not sure what you're seeing but maybe we can discuss.

    0Reply
  • Alfred Carrasquillo
    OP
    Assistant Project Manager & Aspiring Real Estate Investor · Lancaster, CA · Member since 2015 · 23 posts · 6 votes
    10y

    Hello @Lorraine Hadden,

    I've been absorbing as much information as I can in the last few weeks from all the links you listed and I must say, it's been great, but sometimes overwhelming and intimidating. That being said, I remain excited about my future in REI and grow more determined to succeed each day. I've been considering investing in and/or out of state markets as well and have looked in areas such as Cleveland, Wisconsin, etc., However, "looking" on sites like Zillow is as far as I've gone. I don't know anyone in those areas and I've never visited any of those states so I would have to accomplish those two (2) tasks if I decided to go that route. Can I ask why you decided to invest out of state instead of locally? Was it market trends, better opportunities, barriers to entry in CA? We can discuss privately if you like.

    1Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    10y
    Originally posted by @Alfred Carrasquillo:

    Hello @Lorraine Hadden,

    I've been absorbing as much information as I can in the last few weeks from all the links you listed and I must say, it's been great, but sometimes overwhelming and intimidating. That being said, I remain excited about my future in REI and grow more determined to succeed each day. I've been considering investing in and/or out of state markets as well and have looked in areas such as Cleveland, Wisconsin, etc., However, "looking" on sites like Zillow is as far as I've gone. I don't know anyone in those areas and I've never visited any of those states so I would have to accomplish those two (2) tasks if I decided to go that route. Can I ask why you decided to invest out of state instead of locally? Was it market trends, better opportunities, barriers to entry in CA? We can discuss privately if you like.

    Afred,

    My Cleveland keyword alerts notified me of this thread. Looks like you are doing some market research on Cleveland. Here is a neighborhood grading scale that may help you with your research.

    2Reply
  • Alfred Carrasquillo
    OP
    Assistant Project Manager & Aspiring Real Estate Investor · Lancaster, CA · Member since 2015 · 23 posts · 6 votes
    10y

    @James Wise

    This is great information James. I appreciate it very much.

    Alfred

    1Reply
  • Lorraine Hadden
    PT Investor · Palmdale, CA · Member since 2015 · 39 posts · 17 votes
    10y

    @Alfred Carrasquillo, I see a few BP members from the AV but not aware of any REIA. Are there any meet ups or REIA meetings in the Antelope Valley (Palmdale, Lancaster & beyond). Maybe we should start one!!!

    Would like to connect with others here in the valley.

    2Reply
  • Andy Cross
    Wholesaler · Culver City, CA · Member since 2015 · 185 posts · 56 votes
    10y
    Originally posted by @Lorraine Hadden:

    @Alfred Carrasquillo, I see a few BP members from the AV but not aware of any REIA. Are there any meet ups or REIA meetings in the Antelope Valley (Palmdale, Lancaster & beyond). Maybe we should start one!!!

    Would like to connect with others here in the valley.

     I'm from the AV, but recently moved to LA. (The AV is not my kind of town). However I'm down for a meetup in the AV, since I'm familiar with the area. Only if it's on a weekend day. 

    0Reply
  • John Mich
    Rental Property Investor · Lancaster, CA · Member since 2015 · 25 posts · 6 votes
    10y

    I'm a very small time investor in the AV as well, and I'd definitely be interested in a meetup if all of y'all decide to put one together. 

    @Alfred Carrasquillo

    1Reply
  • Kevin Howe
    Investor · Montrose, CA · Member since 2015 · 14 posts · 0 votes
    10y

    @John - Yo amigo.  It's inevitable that you and I are going to meet soon, so maybe we can hook up for a conversation and then organize the meet-up right after.  Maybe next week?

    0Reply
  • John Mich
    Rental Property Investor · Lancaster, CA · Member since 2015 · 25 posts · 6 votes
    10y

    @Kevin Howe

    Yes sir! That would be great. I'm free during the day on the 31st. 

    0Reply
  • Kevin Howe
    Investor · Montrose, CA · Member since 2015 · 14 posts · 0 votes
    10y

    I will touch base with you early next week.  I'm moving out of my current house as you know and that's eating up a major chunk of my time, but I'm committed to making it happen soon.

    0Reply
  • David Faulkner
    Investor · Orange County, CA · Member since 2015 · 2k+ posts · 3k+ votes
    10y

    I am a buy & hold investor with several SFR rentals in the AV. Bought in 2009 with ~1.25% monthly rent/price yield. East side, but nicer East side (must be VERY careful picking block to block on the East side of AV). Prices have since doubled (rent yield cut in half), so I concur that now is not the best time for buy & hold ... That has nothing to do with inflation or monthly rents likely to fall, though, just current market valuation. Do NOT only use rent yield to do your analysis, BTW, just used above to illustrate my point.

    One exception for me is if I could find a SMOKIN' deal (like 50% off market price) in a good neighborhood, but even if I could find that (I can't. If you can, you're the man) then I'd be more likely to flip it in this hot market as opposed to hold with risk of cooling. In fact, if the market goes up much further, I may be a seller.

    Learn how to run the numbers for buy-n-hold and wait until you find something where the numbers make sense (likely after this hot market goes cold) before buying in the AV or anywhere else. Otherwise, learn how to run the numbers for a flip and wait until you find something where those numbers make sense (may be able to find in today's market, but likely makes more sense in a nicer neighborhood), but that is a whole different ball game from buy-n-hold.

    4Reply
  • Alfred Carrasquillo
    OP
    Assistant Project Manager & Aspiring Real Estate Investor · Lancaster, CA · Member since 2015 · 23 posts · 6 votes
    10y

    @David Faulkner

    Thanks for the insight David. Much appreciated! You've confirmed what I've been reading, hearing and seeing. I've been driving around different neighborhoods over the past few weeks (east and west side). I live on the west side and haven't ventured out to the east side much. I've heard war stories about the east side but you don't fully grasp how rough it is until you visit those areas yourself. So, I've started noting on a map, exactly which blocks / areas I would invest in and which areas I wouldn't even consider. 

    I've also been considering flipping until the market is a bit more conducive to buy & hold.  I'm still learning how to run the numbers properly and currently in the process of creating a criteria for both strategies (buy & hold and flipping). Hopefully I'm going about it the right way and will be able to report back on my first deal in the near future! Thanks again for the insight!

    0Reply
  • Alfred Carrasquillo
    OP
    Assistant Project Manager & Aspiring Real Estate Investor · Lancaster, CA · Member since 2015 · 23 posts · 6 votes
    10y

    @Lorraine Hadden & @Andy Cross

    Sounds like a plan! I'm available after 5:00pm on weekdays and anytime on the weekend. If we can settle on a date / time I can propose some meetup locations. 

    0Reply
  • David Faulkner
    Investor · Orange County, CA · Member since 2015 · 2k+ posts · 3k+ votes
    10y
    Originally posted by @Alfred Carrasquillo:

    @David Faulkner

    Thanks for the insight David. Much appreciated! You've confirmed what I've been reading, hearing and seeing. I've been driving around different neighborhoods over the past few weeks (east and west side). I live on the west side and haven't ventured out to the east side much. I've heard war stories about the east side but you don't fully grasp how rough it is until you visit those areas yourself. So, I've started noting on a map, exactly which blocks / areas I would invest in and which areas I wouldn't even consider. 

    I've also been considering flipping until the market is a bit more conducive to buy & hold.  I'm still learning how to run the numbers properly and currently in the process of creating a criteria for both strategies (buy & hold and flipping). Hopefully I'm going about it the right way and will be able to report back on my first deal in the near future! Thanks again for the insight!

    No problemo. Learning how to run the numbers properly is the right place to start. Driving and mapping neighborhoods, thumbs up there. Finding specific properties in specific targeted neighborhoods, running their numbers, and putting in offers, even if just for practice, better. That way, you will know and be ready when you do see a deal. Last quick tips: 1)ignore the list price ... make any offers based on your numbers, not theirs ... if they say no, then onto the next one. 2)I run both the buy-n-hold and flip numbers on every home, that is my plan A and plan B (or visa versa) ... plan A numbers need to get me a good return, plan B numbers need to be good enough (with margin) that I don't lose my behind if the SHTF with plan A ... easier said than done in today's market, but I don't (and haven't recently) pull the trigger unless ...

    I work some days in AV, so if it is mon-wed evening for meetups, count me in.

    1Reply
  • David Faulkner
    Investor · Orange County, CA · Member since 2015 · 2k+ posts · 3k+ votes
    10y

    Correction: I'm down for meetups in AV Mon or Tue evenings, not Wed.

    0Reply
  • Andy Cross
    Wholesaler · Culver City, CA · Member since 2015 · 185 posts · 56 votes
    10y
    Originally posted by @Alfred Carrasquillo:

    @Lorraine Hadden & @Andy Cross

    Sounds like a plan! I'm available after 5:00pm on weekdays and anytime on the weekend. If we can settle on a date / time I can propose some meetup locations. 

     Cool!  Weekends are best for me...as I don't live out there anymore. Lets hook it up!  :)

    1Reply
  • Joe Camarillo
    Speech-Language Pathologist · Sherman Oaks, CA · Member since 2015 · 38 posts · 7 votes
    10y

    Hello everyone! I am from the Palmdale area myself. Grew up there. I would love to be part of a meetup. I am also available on weekends. 

    Joe

    1Reply
  • Logan AllecBusiness Member
    Accountant · Los Angeles, CA · Member since 2014 · 1k+ posts · 980 votes
    10y

    I'd love to join an AV meetup.  I live off the 14 between Santa Clarita and Palmdale and recently sent out a ton of marketing to the Antelope Valley...though curiously enough the only interested sellers that have got back to me so far are in California City...what's up with that town?  Is it going downhill?

    Clarita CPA Group516 Reviews
    WebsiteView Page
    1Reply
  • Nick Coonis
    Real Estate Investor · Acton, CA · Member since 2014 · 109 posts · 73 votes
    10y

    hey guys. I'm moving to Acton, building my house there as we speak, and I'd love to be part of a meetup. I'll be moved in at the beginning of the the year, so week nights or weekends are good with me!

    1Reply
  • Account Closed
    Lancaster, CA · Member since 2013 · 1 post · 0 votes
    10y

    Hi everyone new to REI. I live in the AV and if you wouldn't mind. I like to be apart if the meetup. I can make almost anytime work. Thanks

    0Reply
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