New Member from Los Angles, CA

New Member Introductions
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New Member from Los Angles, CA

Harsh R.
Professional · Los Angeles, CA · Member since 2017 · 29 posts · 12 votes

Hi All!

I've been a silent BP podcast listener and forum reader for the longest time - finally decided to pull the trigger when I qualified for a loan for my first SFR investment property earlier this week.

I'm a 26-year old based out of Los Angeles, CA where I work as a full-time number-cruncher for a real estate private equity shop - really like the analytical side of commercial real estate and it pays for doing what I love a lot!

I'm looking forward to buying my first SFR rental property in the next 3 months. My investment criteria is a rehabbed property within the $100K-$150K range near a military base (for higher quality of tenants) and within a growing city with fairly diversified employment and industry base as well - one of the markets I've identified and am actively tracking is Clarksville, TN. The cash-on-cash returns seem strong as well, which is awesome. I like Tacoma, WA too although I think I might be priced out of that area :/

Would love to meet like-minded individuals in the area for a coffee of course. In return, I can probably tweak your Excel spreadsheets! :)

So to everyone here in the BP community, hello!

Harsh

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Bryan Pham
Rental Property Investor · Oakland, CA · Member since 2016 · 602 posts · 250 votes
9y

Hello @Harsh R.! Welcome to BP. Please let me know if you have any questions! I was born and raise in LA.

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  • Bryan Pham
    Rental Property Investor · Oakland, CA · Member since 2016 · 602 posts · 250 votes
    9y

    Hello @Harsh R.! Welcome to BP. Please let me know if you have any questions! I was born and raise in LA.

    2Reply
  • Harsh R.
    OP
    Professional · Los Angeles, CA · Member since 2017 · 29 posts · 12 votes
    9y

    @Bryan Pham thanks for the welcome. I will definitely reach out if I have any questions. Investing in LA is likely a longer-term goal for me.

    0Reply
  • Account Closed
    Real Estate Investor · Shelton, WA · Member since 2013 · 369 posts · 639 votes
    9y

    No deals left in Clarksville! Nothing to see here. Move along.. lol

    0Reply
  • Harsh R.
    OP
    Professional · Los Angeles, CA · Member since 2017 · 29 posts · 12 votes
    9y

    @Account Closed share the love! Granted I'm not just looking at Clarksville - also looking at Oklahoma City and Macon, GA as interesting prospects. 

    1Reply
  • Tony HightowerPro Member
    Rental Property Investor · Clarksville, Tenn · Member since 2017 · 72 posts · 34 votes
    9y

    @Harsh R. if there are any deals in Clarksville, you have to be very quick to get them. Probably be difficult from a distance.

    Be careful the area of Clarksville you buy. Many areas are not great for cashflow. 

    Any questions about a neighborhood, feel free to ask. Lived here 40 years.

    Good Luck.

    1Reply
  • Bryan Buchanan
    Investor · Bowling Green, KY · Member since 2015 · 4 posts · 1 vote
    9y

    Tony, great to see someone in Clarksville. You're right, you have to be extremely fast. I've bought a few there. Do you have any suggestions for a contractor? Do you buy multi or single family? 

    1Reply
  • Harsh R.
    OP
    Professional · Los Angeles, CA · Member since 2017 · 29 posts · 12 votes
    9y

    @Tony Hightower thank you for the wise words - will definitely keep that in mind! I'm planning on visiting the area again soon and touring neighborhoods more purposefully, and then working with a good local agent on the ground to submit at least 3-4 offers a week.

    I was planning on looking around these areas hopefully - close to the base or close to the new Google data center.

    0Reply
  • Bradley De comarmond
    West Hollywood, CA · Member since 2016 · 235 posts · 72 votes
    9y

    Welcome, @Harsh R.

    If you're free tomorrow evening, there is an Out of State Real Estate Investors of LA Meetup mixer in weho at RED O on Melrose. You can check it out here

    https://www.meetup.com/Out-of-State-Real-Estate-In...

    Have a great week!

    -Brad

    0Reply
  • Amy Wan
    Attorney · Los Angeles, CA · Member since 2016 · 284 posts · 314 votes
    9y

    @Harsh R. welcome! Come to the FIBI event on wednesday night! It's always fun and will have a ton of people!

    https://www.meetup.com/FIBICashFlowInvestors/events/239889792/

    0Reply
  • Harsh R.
    OP
    Professional · Los Angeles, CA · Member since 2017 · 29 posts · 12 votes
    9y

    @Bradley De comarmond I'll look out for the next one for sure - tonight's a little tight for me. Thank you for the invite.

    @Amy Wan I'm going to try and make it out to this one. 

    1Reply
  • Harsh R.
    OP
    Professional · Los Angeles, CA · Member since 2017 · 29 posts · 12 votes
    9y

    @Amy Wan and @Bradley De comarmond 

    Are you guys hosting any more meetups in the coming weeks ahead?  Would love to come out for another meetup.

    1Reply
  • Amy Wan
    Attorney · Los Angeles, CA · Member since 2016 · 284 posts · 314 votes
    9y

    I dont host real estate meetups (I host legal hacker ones), but I know Will Tiao runs a multifamily meetup in LA: https://www.meetup.com/Los-Angeles-Multifamily-Rea...

    There are a ton of real estate meetups, just depends on what you are interested in.

    0Reply
  • Harsh R.
    OP
    Professional · Los Angeles, CA · Member since 2017 · 29 posts · 12 votes
    9y

    Thank you Amy, will be sure to attend that!

    0Reply
  • Bradley De comarmond
    West Hollywood, CA · Member since 2016 · 235 posts · 72 votes
    9y

    @Harsh R. I will post the next one under the networking tab for sure. It'll probably be mid to late July

    0Reply
  • Harsh R.
    OP
    Professional · Los Angeles, CA · Member since 2017 · 29 posts · 12 votes
    9y

    @Bradley De comarmond Perfect, I'll stay tuned!

    0Reply
  • Robin Boyer
    Surveyor · Hemet, CA · Member since 2015 · 797 posts · 112 votes
    9y

    @Harsh R. Welcome to bigger pockets! I am also a first time investor we are selling some commercial property in corona at the moment. I am preparing a open house but not a house a office to invite first time investors long time investors anyone is welcome.  I am looking to invest in California first get my feet wet then maybe get a few out of state. I am finding homes for sale from $5000-$20,000 in Chicago.  Needing some work obviously a lot of work but for that price?!?!?

    0Reply
  • Shala Mapp
    Real Estate Agent · Savannah, GA · Member since 2017 · 18 posts · 2 votes
    9y

    Hi Harsh,

    Like you, I listened to the podcasts for a few months and am just now finally getting the courage to join in on the discussions. I live in LA also, near USC. I saw that you said something about investing in Macon- I'm from Georgia- have been in LA for almost three years now. I also have family in Tacoma, Washington (although you said you think you might be priced out of that area). I look forward to more of your posts during your journey as I am also looking for a market to invest in also. 

    I would be interested in coffee or meeting up at a BP meetup. Let me know please.

    Thanks!

    Shala

    0Reply
  • Robin Boyer
    Surveyor · Hemet, CA · Member since 2015 · 797 posts · 112 votes
    9y

    @Shala Mapp  welcome to bigger pockets! If you can connect me by adding a friend request or update your profile with contact information I can keep you posted on the meet up at my office building we're doing catering everything should be fun.

    1Reply
  • Shala Mapp
    Real Estate Agent · Savannah, GA · Member since 2017 · 18 posts · 2 votes
    9y

    Hi Robin! Thanks a lot for reaching out. I just sent you a friend request. Please let me know if you got it.

    Thank you,

    Shala

    0Reply
  • Robin Boyer
    Surveyor · Hemet, CA · Member since 2015 · 797 posts · 112 votes
    9y

    @Shala Mapp I accepted your request thank you. My phone number is on my profile if you want to send me a text or call and I will add you to the list of others for the open office would love to have you.

    0Reply
  • Shala Mapp
    Real Estate Agent · Savannah, GA · Member since 2017 · 18 posts · 2 votes
    9y

    You are awesome Robin, thanks so much!

    0Reply
  • Harsh R.
    OP
    Professional · Los Angeles, CA · Member since 2017 · 29 posts · 12 votes
    9y

    @Shala Mapp and @Robin Boyer appreciate you guys reaching out. I like markets with higher cash yields. Given where we are in the current market cycle, I think it's aggressive to concentrate return potential on appreciation - I think buying at a good basis matters significantly more.

    That being said, Macon, GA and Tacoma, WA both stood out to me and I think military-anchored communities are solid bets. 

    I've been spooked personally by Cook County's tax assessment schedules and high property taxes, as well as crime in some of Chicago's outer areas. I am not sure if I'd be keen on Chicago personally but I definitely understand the appeal of a lower entry barrier. 

    Keep me posted on your meetup Robin. Happy to chat.

    0Reply
  • Victor SoBusiness Member
    Real Estate Agent · Chicago, IL · Member since 2017 · 325 posts · 193 votes
    9y
    Harsh R. Hey! Welcome to BP! I'm a relatively new investor myself! I was born and raised in the Chicago area and currently live here as well. I just wanted to comment and add to your point on Chicago properties taxes. They are definitely high and still going up. It's sort of out of control. However, I feel like you can still find cash flowing areas as well. I am skeptical about those 10-20 k properties since most of them are in D class neighborhoods but I think there are B and C class neighborhoods worth investing in. Anyways, if you have any questions about the Chicago area in general, let me know! I've lived all over including various suburbs and city.
    Victor So Real Estate LLC517 Reviews
    WebsiteView Page
    0Reply
  • Jeff Burdick
    Investor · Chicago, IL · Member since 2016 · 515 posts · 247 votes
    9y
    Originally posted by @Robin Boyer:

    @Harsh R. Welcome to bigger pockets! I am also a first time investor we are selling some commercial property in corona at the moment. I am preparing a open house but not a house a office to invite first time investors long time investors anyone is welcome.  I am looking to invest in California first get my feet wet then maybe get a few out of state. I am finding homes for sale from $5000-$20,000 in Chicago.  Needing some work obviously a lot of work but for that price?!?!?

     Anything for 5-20K in Chicago is a true class D property and is going to be in an area that is very difficult to manage.  Some investors do very well in these areas, but it is quite challenging management work IMO.  

    0Reply
  • Robin Boyer
    Surveyor · Hemet, CA · Member since 2015 · 797 posts · 112 votes
    9y

    @Jeff Burdick those neighborhoods why are they hard to manage because your dealing with thugs? How do you take those old run down neighborhoods and get them back to par? They seem like good investments at that price!

    0Reply
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