All Forum Posts by: Alex J.

I I should probably know that I am a millennial myself and currently live in Houston Texas for work however I almost exclusively invest in Los Angeles and have significant amount of capital tied to areas like the valley Echo Park and other areas around town

I I love this post finally the valley get some light on BP this area you mentioned is a fantastic opportunity specially on relative value people that are millennials today are eventually going to grow up and realize they need a place to raise a family and the San Fernando Valley has been doing that for the last 60 70 years for the previous generations areas like the Warner Center The Village Woodland Hills excetera are all going to become the new center of the valley which is progressing towards that direction anyways and that's going to give a rise to places like Reseda Canoga Park and the middle areas of the valley that for the longest time have been neglected. I'm putting my money where my mouth is and have bought five properties in the area within the last 12 months some are Flips some are buy hold some are development.  The big problem I see with the valley is lack of really great jobs that are generally downtown LA or the Westside type of pay however you don't need to be making Westside money to afford a really high quality of life in the valley the problem with Los Angeles in general is there's a negative connotation with the valley almost like the stepchild of LA but people will get over that really quick when they realize what they can get and that they can't actually afford to live anywhere else. On a relative basis I don't think there is a better location in Los Angeles proper and I think if you are from LA and have seen the valley comparatively over the last few years it's definitely on a rise and there's definitely a lot more to do now than ever

By the way I'm doing voice to text please forgive my typos

@erin can you pm me the address I can give you my opinion...done a few deals in more expensive markets ..sounds like third ward. Very unique area some good potential

It's not like a Brooklyn or silver lake in Los Angeles 30 years ago...it's still really rough around there and EaDo has started to develop and that's not even picking up like crazy...growth yes ...but not like a new Montrose or heights

Stafford, Meadows, sharpstown are strong rental markets 

refi cash out 100k,will change your payments modestly maybe 400  amonth, put that 100k into something that can generate a better return for you... i would look to cali muni bonds, tax free, monthly payments if you buy something like ticker pcq, and just average into it.  youll have theexposure to cali,rental income feel since its monthly distribution, and you wont need to lift a finger for maint.

its a problem in the sense that its not up to code and resale will be an issue - as you mentioned. .. also it could have risk in terms of a tenant landlord situation where you knowingly are renting out something thats not to code so in a situation of peril it opens up the negligence etc...now with that said.. you can always see what it will take to make it conforming...LA has  TON of non conforming illegal units throughout the city

the problem is that its in HOUSTON, ok now that the joke is over..

i think you are dealing with a lot of factors that are working against you.  when you have somebody willing to pay over 2.5m you are going to get people that want in river oaks, blvd oaks , west u maybe, memorial hedwig etc...not a condo...yes i know condos trade and yes i know that theres a ton being built...but those are not factors working for you.

right now oil and gas execs have a lot of risk on the horizon, they are your target market in my opinion.  the buyer is not going to be a foreign guy who thinks houston is a great city poised for growth because this city is not nearly as diversified as people think it is...the smart money knows theres a lot of oil and gas risk still on the table.  how do i know?.... i work in the oil and gas industry as my day  job and i have reluctantly lived in houston for many years now.  in fact i feel so uneasy about the oil and gas situation here that i have built up over a $6m portfolio in r/e in los angeles instead of houston while renting an apartment in houston...i only recently bought a small house here and a duplex... all in my exposure in terms of real estate is less than 300k out of 6m.i really do wish you all the best and hope you get it sold at a great price and hope that i am dead wrong about this city for my own selfish reasons  but i absolutely dont think the luxury market has legs in this city without some pain first.

@Danny N.

with such details..  i think the golden rule applies.. buy low sell high, location location location.

something like that

hehe just having some fun here

@Andrew Oliveri did you have more specifics youd like to post

wells fargo offers the product... not terrible rates..but you need to have an existing relationship with them  as in an account history etc... at least that was required when i first looked into it a few years ago... rules might have changed now.  good luck