All Forum Posts by: Jose Reyes

As far as I know they are illegal. The city will simply throw them away when they get around to it and will make an effort to fine you or the person responsible for putting them up by calling the number posted, which is why they are always Google voice numbers or 800 numbers that make it harder to track who the poster is. Also, I don't know anyone that has had any luck with them here in LA in actually buying a house directly from a bandit sign. The only people that I knew that used them were wholesalers looking to build a cash buyer lists. 

Wish I had a link for you. But that's my limited knowledge with bandit signs. 

@Allan Glass Thank you very much for the info...hopefully it'll pan out. 

@Steve Richardson Thank you for the info. Hopefully it'll all come together. 

I'm currently negotiating a legal 3 unit property in LA. Corner lot. 2 attached units facing one side of the street and the 3rd unit is completely detached, fenced and facing the other street (corner lot). My question is, is it possible to get a zoning variance from the City to make the detached unit into a legal SFR with it's own APN and the other two units would be become a legal duplex. Essentially two individual properties. Is this possible?

I have conflicting info and would love any insight from people familiar with LA Building & Safety, zoning, etc. 

thanks...

Congrats. Best advice I ever got was to go full time. I did and haven't looked back since. Build you network and the deals will come in any market. If you have any wholesale deals East of Hollywood and as far as the Inland Empire, please email me. I'm also open to JV. Good luck!

@Steve Richardson Greeting. How difficult is to get the zoning changed from the 2 unit to an SFR? Question. I'm looking at a Triplex. Corner lot, 2 attached units facing one side of the street. Other other side of the corner is a home, which looks like an SFR, is detached from the 2 other units, but is legally the 3rd unit.

Any idea if I can legally split the triplex into 2 properties? One being a duplex, and the other an SFR? With their own APNS? It's in Echo Park, near where you're currently working on your project. I've been told it can be done. Any insight or knowledge with LA Building and safety as to if this is possible?

Thanks. And good luck on your projects. 

I'm not a Realtor, but am familiar with the area and that local market. I've done several flips in El Sereno, which boarders it on the West side. Alhambra is a great location to invest in. But the areas can be spotty. And sometimes it is very difficult to come up with accurate ARV's unless you are familiar with it. Not sure where your particular property is located, but it'll make a HUGE difference in how fast it'll move. Anything heading North, nearing San Marino is the best and always is easiest to sell. Closer to the 10 freeway is more difficult. There is also other pockets that are more/less desirable in between. Market is pretty stable. Not hot or cold. More inventory is coming up, so buyers are becoming more and more picky. Again, Alhambra as a whole is a safe bet to invest in as long as you're familiar with it's pockets, the demographic buyer expectations and rehabbers budgets (obviously), as long as the correct price was paid before rehab you should be fine.

Good Luck. 

Great question. I agree with a few of you. FEAR and making impulsive decisions. Never buy something to just try and stay busy. I've been guilty of overanalyzing a deal over and over again, trying to justify why it's good. When in fact I should be sticking to my guns.

Talk to neighbors. They'll usually tell you what's really going on in the area. Other then that, drive around. If you feel uncomfortable, that should give you your answer. But always remember, there is money to be made in all locations. It really comes down to the tenants you get, and in bad areas, that's a crap shoot.

His objective is to sell books, seminars and hope. That is it.

None of what he states is unique or different then almost all of the motivational gurus, they all simply package it differently.

If you are hoping, his books or seminars are going to give a magic recipe to riches, it's a huge waste of time.

5% useful, 95% fluff.