All Forum Posts by: John Acklen

I'm trying to educate myself on this as well, @Josh Oaten.  Some of the research I'm including in my market analysis is: 

1) Rent-to-Income Ratio

2) Unemployment Rates

3) Population Growth

4) Future employment/development trends in the area (i.e. what are the major employers? Do you think they will be in business for a long time?) 

5) Crime statistics

6) Median Income

7) Percentage of Renters vs Owners

Are there any other key metrics that BP is looking at when identifying markets to invest in? 

Thanks, 

John Acklen

Originally posted by @Omar Khan:

@John Acklen It depends on how many units you want to purchase. 2-4 units are categorized under residential, 5+ units are considered commercial. At the 2-4 units level, you have access to FHA, VA and other low-down conventional financing products (varied by region and financial institution). At the commercial side, things change are different.

I would need to live in one of the units for 2-4 unit buildings do have it be categorized as a residential purchase though, right? Would it be considered a commercial loan if I'm buying a 2-4 unit building and NOT living in it? What if I move a family member in, like my father-in-law for instance? 

Hi all! My wife and I are moving from California back home to the Midwest where I'm from. I've been wanting to start investing in multi-unit properties for a while, but it's been too expensive for us to get started out here. What are some loan or financing options for us to purchase a multi-unit property? We have a decent amount saved to put as a down payment, but since we'd be starting new jobs/careers so our income won't be strong. Thanks in advance for any advice!

Originally posted by @Eric Dowling:

@John Acklen congrats on passing the exam! LA is a great market to be is as an agent. 

Good luck and don't hesitate to reach out!

 Thanks Eric, but I haven't passed the exam yet. I'm still waiting for the BRE to process my application so I can get my test date - hopefully it will be soon! 

Hi All! My name is Johnny and I recently joined the Bigger Pockets site after weeks of listening to the BP Podcast! 

I'm originally from Cincinnati, OH and moved to Los Angeles about 5 years ago.  I had been working in the Music Industry for the past five years, but after getting married in October 2015 I realized that the Music Industry is a single man's game and I decided I wanted to transition into a different career. I have decided that working in the Real Estate industry would enable me to provide for my family while also doing something that was exciting, profitable, and that I could rely on my own sweat equity to be successful! I've completed my Real Estate Salesperson classes and am now waiting on the California BRE to approve my application for the state exam to get my RE License.  

My primary goal at the moment is to become an Agent in Los Angeles in order to gain access to the MLS and begin learning more about the market. Secondary goals include beginning to purchase and rehab 1-4 unit rental properties to either flip or to hold as income properties.