All Forum Posts by: Alex J.

well not any but any on the mls 

Will the other unit have below market rents?   Rent control really makes any deal in ep sl etc really junky in my opinion.  Factor 20k to get the unit vacant per door.  

I manage the properties myself with my father inlaw so we don't habe mgmt fees

1317 92nd closed 430k...current rent is 3350...can be increase non rent control market to 3800 to 4000mo pretty easily it's a 4plex 1 bed 1 bath

utility is about 200 a month the maint say 200 average and tax is 1.25%  so around say 450 a month....850 total.  If you raise rent 3800 which is still below market mkt is around 1k to 1100 for a 1 bed bath in the area...you are around a 7 cap...just under it a actually.

Sorry had to look a my old sheet of bids...

1306 w 106th 90044 was one house plus duplex one lot....The other was 237 w 111st 90061 house plus 3plex 

They were both decent deals but I didn't have my offer accepted on either because I am very selective on price and want to buy where I see value aka lower than ask hah

1317 w 92nd la ca pro forma is 7cap.  Closed last month.

There was another on 106th 3plex and anothe on 103rd...4plex

In the loop vs suburbs are very diff dynamics.  Even suburb to suburb.  Katy and energy corridors softening for sure....sugarland staying very resilient suprisingly.  Woodlands  not sure but I've heard spring has weakened and is now having more rentals sit on the mkt as with katy 

In the loop is prob the biggest boom bust economy of houston.  The interesting thing about houston is its one of the few markets you van hedge your real estate with to some extent with oil futures.   My coworker bot a house in west u when oil was 80 and he used about 25k to get short options and etfs and it worked out suprisingly well 

The caps I'm seeing are 7cap but I took 2 months to find.   Most are 6 cap with lots of work closer to 5cap.  That's for 4plex...its hard to find a deal

its a very very competitive market for buyers and investors...a good deal usually gets bid up in "eastern" la aka silverlake echo park highland park mt washington eagle rock etc...theyve become extremely desirable.  the agent i have used in the past is bridget brno la property solutions, shes very familiar with the area.  i dont know if there are many "buyers" agents or what not, but i think the best strategy is to just start calling the various brokers on listings and talk to them introduce yourself and what you are looking for and keep grinding it out till you find a deal that works for you...dont jump into it without having an idea of what you want to do.

For the record the San Fernando valley is still very very much la!  City of la laws rules regulations and very much a part of the city identity