LA Area House Hacking
Hello BP! So as the title says I'm looking for a multifamily to house hack. I work in Koreatown and my wife works in Commerce. We are looking for something in between and are willing to consider outside of LA. Is it a bad time to buy though since we are in a sellers market and a rececession? What is your take on our situation? Thank you in advance for you input.
The US economy is not in a recession, not sure where you got that from. The economy is actually doing pretty well. If you run your numbers right, a property should be a good investment regardless of who’s market it is.
Hey Fernando! The economy here in California is fine, and will continue to be for the next few years from a Real Estate standpoint. I'd consider some of the less than desirable areas around your current area, that will allow you to renovate and gain some equity. All of Los Angeles is up and coming right now with multiple projects in multiple places. I specialize in South Los Angeles Multi-Family properties and I'd be happy to help. If you don't mind, shoot me a PM and give me some details and I'll send some properties your way so you and your wife can weigh the options available.
I'm guessing you meant to put "not in a recession". We definitely aren't in one, and prices are quite high. Most likely it's a bad time to buy, but decide that based off the numbers rather than perceptions.
I just wrote this article a couple weeks ago-
https://www.biggerpockets.com/renewsblog/considera...
Hopefully that helps!
No I meant fine. Prices are quite high right now, but our minimum wage will continue to rise until 2022, we have several high profile projects in the works in South LA which are in beautiful under-appreciated neighborhoods, and we have the Olympics coming in 2028. While the West Side is extremely pricey, areas further east and closer to the downtown perimeter are still great areas, with proximity and convenience that beats the reputation.
Originally posted by @Ali Boone:
I'm guessing you meant to put "not in a recession". We definitely aren't in one, and prices are quite high. Most likely it's a bad time to buy, but decide that based off the numbers rather than perceptions.
I just wrote this article a couple weeks ago-
https://www.biggerpockets.com/renewsblog/considera...
Hopefully that helps!
Thank you for your input everyone. It is greatly appreciated. I am looking in the south LA area for an aewsome deal.
Hi @Daniel Keyes,
Can you send me some options as well?
Thank you!
Originally posted by @Thu Dinh:Hi @Daniel Keyes,
Can you send me some options as well?
Thank you
If you shoot me a PM, I'd be happy to get you some options. We are investors ourselves and have had property in CA and out of state. I conduct financial analysis on large apartments for an investment firm and can drill down into the potential of the property.