New Los Angeles Member / Looking to Connect

10 Replies

Hi @Chris Caparro .

Welcome to BP - there's a ton of great info here. Did you purchase your two homes in the LA area as personal properties and then move on and rent them? That's a great way to get started.

Your profile mentions 90404 which is Santa Monica if I'm not mistaken. Great area, lots of growth from the tech industry (Silicon Beach). There's rent control in some parts so I'd be curious if that has impacted you at all.

Welcome aboard. Feel free to connect with me - I'd be happy to talk LA real estate anytime.

Hi Joshua,

Thanks for the reply. We bought. Lived. Then turned it into a rental. That's the conservative plan right now. Since we just moved we'll live in the current unit for 5 - 8 years, then rent it and move to another.

Our particular unit in SM has limited restrictions on rent. It's not officially rent controlled because it was converted from apts to condos in 2005. I called the SM rent board and because it's a condo and we own it we can raise the rents whenever we want and to any amount.

Our area is a little further away from the real Silicon Beach area. We're near the older tech/media area in Santa Monica. MTV/Water Garden area. It's a great area and the only way we could afford to be landlords there was to own/live then rent it out. It's a great area for renters because people are getting out priced by the beach (venice and other coastal tech areas) so they come east a bit.

Do you guys have income properties here in Los Angeles?

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Chris,

I don't have rentals (yet), but I flip in the LA area. If you want to connect over a cup of coffee or something, just drop me a line. I love meeting new investors. Also, there is a great REI that deals a lot with rentals in Culver City/Beverly Hills. Sam Sadat runs it.

Mark

Baile.Properties.LLC@gmail.com

That's awesome and a good approach. We don't own anything yet in Los Angeles, just Boston at the moment - but we're always on the lookout for opportunities.

What kind of real estate investing are you thinking about getting into? Long-term hold, fix & flip, or something else?

Hi Chris,

congrats on the rental property. My group and I have been investing in LA for the past 20 years and are always searching for new deals and happy to meet with other investors, wholesalers, etc.

Wish you all luck!

-A

Welcome neighbor, I'm next door to you in Venice. I don't own anything in LA, I only buy out-of-state.

Maybe I'll see you on the bike path sometime! I am in SM a lot though at the airport because I am a flight instructor on the side, so there quite a bit.

Welcome Chris. There are a lot of super helpful people and great advice on this site! I'm a 'fix and hold' investor from the Bay Area in CA, and loving it! A lot of others doing flips, wholesaling, notes, everything. A few tips.

You can tag people by typing @ before you type their name, then clicking their name when it pops up at the bottom of the message box. You can click on the 'vote' button if you like someone's post or is helpful, and there are 'awards' to earn on your profile. The "Learn" link across the top navigation bar has lots of great info, and most importantly, the BP members! Welcome to BP, and good luck on your investments!

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