There is a lot of opportunity to value add in SCV, especially if you plan to buy a primary and fix it up while you live there. I did it recently as well.
Thank you looking forward to meetup! I was a little curious as to the strategy you and other investors are seeing here terms of a cash out refinance. I was looking at a couple of houses and the renovations were about 80k and I think that would be locked up for a few years. I understand it won't be a homerun BRRRR, but would be nice to get at least half of it back out. Also I am seeing a lot of room for rent listings but doesn't seem like a lot of them get rented quickly. So trying to understand the demand here as well.
There is a lot of opportunity to value add in SCV, especially if you plan to buy a primary and fix it up while you live there. I did it recently as well.
Thank you looking forward to meetup! I was a little curious as to the strategy you and other investors are seeing here terms of a cash out refinance. I was looking at a couple of houses and the renovations were about 80k and I think that would be locked up for a few years. I understand it won't be a homerun BRRRR, but would be nice to get at least half of it back out. Also I am seeing a lot of room for rent listings but doesn't seem like a lot of them get rented quickly. So trying to understand the demand here as well.
Right now we are seeing better deals due to the interest rates. A lot of would be buyers are waiting on the sidelines right now which has eased demand and sellers are settling at better prices. I recently got one 60k under asking that appraised for 100k more before my client even started updates. I have another one in escrow we got for 250k below asking price which will definitely appraise higher. I would say right now is the time to negotiate a great deal as your numbers need to be padded right now and have potential to pull out most of what you put in. It is harder to flip in this market right now, but for buy and hold and the BRRRR strategy, I believe you have a lot of opportunity.
Santa Clarita · Member since 2021 · 13 posts · 5 votes
3y
Does anybody have any deals in mind or know of something out there that could be good? I've been looking for seller financing more with how things have been lately just need to find some hungry sellers. The MLS is looking a little better as far as listings sitting a bit longer.
Sorry I haven’t kept up with this thread much but still would love to do some investing in my home town if possible!
Hi Will! I’m part of David Greene’s team and extending an invite to a meet up I’m hosting at Lucky Luke Brewing in Santa Clarita. It’s this upcoming Monday, the 28th from 6-730pm. I want to gather as much as I can to meet others around here and would love for you to come join!
Here’s the link to the flyer and an RSVP so I can get a head count😊
Real Estate Agent · Santa Clarita, CA · Member since 2020 · 42 posts · 9 votes
3y
@Will Barnard Hi Will, it was a last minute meet up, apologies for the last-minute notification! We have another upcoming this January 12 which is a Thursday from 6 to 8 PM if you can make it! Would love to have you there. And I can direct message you on the info 
@Will Barnard Hi Will, it was a last minute meet up, apologies for the last-minute notification! We have another upcoming this January 12 which is a Thursday from 6 to 8 PM if you can make it! Would love to have you there. And I can direct message you on the info 
hey Stacey would love to have the meet up info as well :)
Real Estate Agent · Santa Clarita, CA · Member since 2020 · 42 posts · 9 votes
3y
@Ryan Daniel Hey! I actually started a meet up at Lucky Luke’s every second Thursday night of each month, which we did in November and January. We’re going to have our next one February 9, for anyone who can make it😊
This February 9 will be at Hoi Polloi Winery at 6pm