All Forum Posts by: Jon Schwartz

Does anyone have any advice on buying a condo vs a SFH in LA? Are HOA fees worth it? If trying to house hack what would be the best option? Condos seem much cheaper but do HOA fees offset that difference? How much should allocate for repairs in a SFH?

Coming to you from Los Angeles.  Need advice.

We've lived in our house for almost 10 years, during which we have grown about $600k in equity. We just pulled out $200k with a HELOC with the intention of doing some home improvements. The house is in good shape generally, but could use updating in the bathrooms and kitchen. Our orignal thinking was to get the house ready to lease or convert to a short term rental. We want to move this property into the assest column! However, I am itching to start growing a real estate portfolio (first focused on cash flow and then on equity). I am wondering if it would be more prudent to use the capital for a BRRRR, flip or multi-family? I'd like to invest in LA since it is where we are and what we know, but it is an expensive market. Willing to go into class c markets, but even then it's expensive entry. Any advice is welcome. Thank you.

Hey all, 

Long time lurker here, ready to invest in some rental properties. Im interested in hearing how you would invest in my situation.

Me: 300k to invest, 18k a month w2 income, 780 credit score, and No Personal Debt. Los Angeles County Resident.
Currently: Licensed Contractor, restauranteur, & bar owner. 
Background: Property Management, Rental Maintenance of Mutli-Family Units.

My wife and I want to start a business in STR Arbitrage in the Bay Area in CA. We are doing research specifically in tenants and investor legislature, but most of the articles we read are out dated. Policies in CA change faster than coffee pots at Starbucks.

My question is how and where do you guys gather information about local county laws regarding SRT and REI in general?

We've found that it is especially hard to discern STR laws because most of them talk about owning the property.

Hey BP, 

I have been looking around for multifamily properties here in Southern California with the hopes of house hacking. A common theme that I've seen in my search is properties that have been listed for a while have tenants living in them, some paying under value. 

If I were interested in a property with this situation what options do I have? Are there resources that you might be able to point me to? 

Hi all, first time posting. After having been researching outside of my market for potential investment properties, the prospect of buying the home we rent has come to a head. Since we first signed a 1 year lease agreement 3 years ago, the owner has expressed wanting to sell to us, or that we would be the last tenants she has in the home. She is a woman in her 70's and has told me her daughter would inherit the property should she pass. By the integrity of her word she kept that we have first rights to purchase the home. It's in a very high COL area and we are lucky to pay $2500/mo rent M2M now. She owns the property outright and wants close to $1M for the house. However, it's a 2/1 about 860 sq ft on almost .25 acre. There isn't much room for rehab at that price point but plenty of room for expansion on the lot being that it's flat. Minus the few trees that would need to be cut down and minor grading for outward footprint. Her daughter contacted me asking about the "offer we were planning to make" on the house. My assumption, to move the wheels to put the property on market if we don't make an offer. Now I'm backed up against the wall with trying to comp the property to hopefully wholesale to someone that can build it up. Like I said, she wants $1M but it needs alot of reno to make it worth the work. A home totally finished 5 lots down sold in June for $890K, 2/1 on 5000 sq ft lot. I'd appreciate any advice or info from anyone at this point. Being that it's so close to the holidays it's put me in a very mental bind to figure out the situation. Thanks in advance, I look forward to any conversation!

@Jon Schwartz so for 30+ day stays I don’t have to apply for any kind of permits/license with the city or even tell them I’m doing any vacation rental activity because to them 30+ day stays aren’t an issue, am I right?