All Forum Posts by: Archie Robb

Whoops, I did not duplicate your post. What Michael said is pretty spot on. Also Start reading bigger pockets, books on real estate, listening to podcasts and just gathering as much info as you can.

Hi Kayla! I applaud you for getting started at such a young age. Where to invest!? There are so many questions to determine that. Do you want to invest in so cal or out of state or will the numbers determine that?

Originally posted by @Alec Sithong:

what is the best way to find foreclosure and short sale if I don't have access to MLS? I don't think Trulia and Zillow is that indepth or as detailed. Auction.com is good only if I have cash.

 Just call an agent! Most would be happy to help. 

List with an agent and it'll be on all the MLS and all other rental sites most likely with professional photography, professional staging and you'll have someone covering the showings and screening the applications, running background checks, etc. The typical fee is usually 1 months rent but it's always up for negotiation but depending on the amount of work some agents may not be willing to negotiate very much. If you list yourself you'll save the 1 months rent (less if an agent is willing to do it for less but you'll likely not get the staging) but you'll have to spend quite a bit of time on it. Feel free to message me if you want some help, I work in Echo Park/Hollywood and even if you decide to list it yourself I could still help if you need certain things done. Archie

Originally posted by @Geo Tan:

@Archie Robb How would you go about doing that? If you can show me the steps to doing it I'd much rather appreciate it. Teach a man to fish as they say...

 I would check the title. I can't really show you how to do it as I have access and I can't give out my access. 

@Geo Tan Shoot me a private message with the address and I can find out for you. 

Hi @Alex J.

In order to get a better cap you'll have to do some work. It's damn near impossible to buy a property that's above a 5-6 cap. If one is listed it usually goes extremely fast and all cash buyers will most likely get it. Many investors in LA are relocating the tenants and remodeling/rehabbing the units to up the rent and then refinancing. This usually turns into an additional hundred grand or more (depending on the number of units) spent on the initial purchase price but then it allows rent increases that offer a much better return. 

It is definitely more than possible to be successful wholesaling in Los Angeles. However, like any booming industry there will be a lot of competition. Just work harder!

Hi Evan! Are you set on Glendale and Burbank or would a neighboring village such as Atwater or Montrose work as well? Is your grandfather going to be the buying broker in any deal you do? Archie

Welcome Chris and congrats on the first property!