All Forum Posts by: Joseph M.

Hi Romela Jover This question does come up quite often . If you do a search in the forum you will see quite a few threads which should be helpful for you . Some brokers might not want to deal with investor agents but there are plenty brokers out there . If you just want to do your own deals you might want to look at a 100% commission broker. The main thing is that you need to disclose you are an agent when you are doing your own deals ... but I haven’t heard anyone say they lost a deal because of this . Best of luck

Interesting article today about the ferry in the SF Bay chronicle — Soon-to-open Richmond ferry terminal could revive shoreline, usher in gentrification https://www.sfchronicle.com/bayarea/article/Soon-to-open-Richmond-ferry-terminal-could-revive-13052464.php

Mike Dymski thank you

Caleb Heimsoth property in Cleveland will still cash flow , but in L.A it still won’t :)

I've recently heard similar things in Downtown L.A , this is for newly built luxury apartments. 

Actual vacancy rates across the city are very low.

--

Downtown has a high apartment vacancy rate? The rest of L.A. should be so lucky

http://www.latimes.com/opinion/livable-city/la-oe-...

Great episode , I thought the part about speculation vs investing was great. I also liked that Paul spoke about all the different types of investing and businesses he's done. The part about the hotel development too. 

He mentioned that with the current hot market being tough to buy solid mutlifamily deals he is looking to invest in another 'asset class' so I was curious about what asset class that might be specifically.

Yeah that part of the valley has definitely gotten a lot hotter in recent years. Restaurant scene on Ventura and shops/boutiques seem to have gotten more trendy than before. It definitely does feel like more celebrities are preferring the valley these days. Tons in Calabasas area.

It's kind of funny to hear Calabasas/HIdden Hills being shouted out in rap songs by Drake. They were nice areas but not really like hip or trendy like that before. 

I have a relative that works in Porter Ranch and he mentioned that about LeBron sending his kids there..guess I figured he'd send them somewhere on the Westside since his homes are in Brentwood.

@Jay Hinrichs , yeah I have bought some land to flip in the past through tax sale auctions , not in that area but in San Bernardino and Riverside counties mostly.  Still a lot of land here in CA despite the image of it being overcrowded.

Yeah the project does sound exciting .

@Jay Hinrichs , I'm not from the Bay area, I've visited SF,Oakland,Napa,etc many times but not Richmond. 

Just saw an article the other day about people looking out to Sacramento to buy homes which is much further from the SF bay of course versus Richmond. 

https://www.sacbee.com/latest-news/article21247998...

Seems to be a good bet that people will still want to remain in the Bay area long term like you are saying and they aren't making more land. 

Since the city of L.A is now pretty much all built out, I've been thinking eventually areas in the Antelope Valley will start to get more developed. Lancaster/Palmdale areas are still in L.A county. Land there right now is dirt cheap while a small lot in L.A is going to be $500k or more. Also there is already a lot of existing and new development coming to the Santa Clarita Valley..not sure if you have heard of the Newhall Ranch development.. it is a $12 billion or so 21,500 home development which has been recently approved after decades of controversy and lawsuits. 

It is the largest subdivision project  in the nation supposedly  .

https://www.dailynews.com/2017/09/25/tremendous-ne...

Santa Clarita Valley isn't too far from the Antelope Valley area. 

Curious if you've looked at land in this area at all or what your thoughts are. I could see how it might sound crazy. But even the idea of L.A becoming a major city was also crazy at one point not too long ago. 

Also I believe that while the trend is to go more dense there will still be demand for those that want newer single family homes and little piece of land/yard.

@Matt R. , yeah it's not too much a surprise why people are buying or looking to buy in Inglewood and South L.A. It's not cheap, but it looks relatively cheap compared to stuff in Culver City, Westchester areas and of course way cheaper than a place like Venice Beach. You are still not too far from the beach. There is big development with the stadium etc. High paying jobs nearby. 

One thing though Inglewood and South L.A seemed to get hit real hard last housing crash a lot more than those westside areas. Properties dropped about 50% or so and you didn't see that in the more prime areas. Not saying there will be another crash as severe like last time but at some point there will be a downturn and these areas I believe will still be more vulnerable. Crime including violent crime is still a lot higher than the westside neighborhoods too. 

Will be interesting to see what happens.