As a newbie, suggestions on So Cal investing?

Question

Joe Homs · Answer

@Gio Fuentes  I know where Desert Hot Springs is, but I have never invested there.  Flipping is a numbers game and you can flip as long as you do your numbers correctly.  Good area, Bad area, Desert area, etc.  It does not matter.  I currently use 70% of the ARV to determine the MAO (Maximum Allowable Offer) I am willing to buy at.

Good Investing...

Gio Fuentes · Answer

@Jacob Repreza, thanks for the encouragement.

Gio Fuentes · Answer

@Joe Homs, I’m in Corona and am moving further and further out to try and find deals. I’m looking at Desert Hot Springs. Ever invest there?

Jacob Repreza · Answer

@Gio Fuentes California is a rough place to start off in. Not impossible by any means but you gotta be ready to act quickly and take advantage of a good deal when you see one. Due to the wide margins here there's a lot of deep money looking for opportunities and a lot of times they're happy with decent percentage returns so they'll buy close to retail and a lot of sellers know that. Don't get discouraged tho because one good deal will make it worth your while just have to be patient and take the no's.

Aaron K. · Answer

@Gio Fuentes most people's fixers can go close to retail unless they have a problem that actually needs a professional to fix.  In SoCal carpet, paint and general outdatedness don't get you very much of a discount like they might in other parts of the country.

Joe Homs · Answer

@Gio Fuentes I am finishing up some projects in Orange County, California, but have moved out to the Riverside and San Bernardino areas to acquire more.  We are cold calling for leads.

Good Investing...