All Forum Posts by: Jon Schwartz

@Jon Schwartz

Anyways, the fourplex is just north of the 10, off of s la brea ave.

Thank you

I am getting conflicting information online about whether or not it is legal to do AirBNB in LA county, so I thought I would ask you guys. We have recently purchased a fourplex, where two of the units have long term renters, we intend to move into the third, and was considering doing Airbnb on the fourth one. Is this legal under current legislation? 

Thank you for any input. 

Hello,

This is my first post and interaction with the community. I currently live in Carlsbad, CA (North County San Diego) and am not quite sure what action to take. I have enough capital to invest out-of-state and buy my first rental property in the Midwest. The other option would be to continue saving and wait another year to buy a MF House-Hack here in SoCal. I don't have enough capital to do both. I currently rent and have no problem staying here but want to make the best decision. This has probably been talked about before and I might be overthinking things but any advice is greatly appreciated. Thanks!

I recently sold my CA home, with the initial accepted offer being 7% over asking, with all contingencies removed from the outset. After paying the standard 3% earnest money into Escrow the buyer then cancelled the contract and demanded the deposit back. This is even though the California Purchase Agreement has a liquidated damages clause that states if the buyer defaults the seller “shall retain the deposit”. The buyer also signed a contingency release which has similar language.

I finally sold to a backup offer, for asking price – therefore a 7% loss compared to the initial offer. As this home is located in the SF Bay Area this represents quite a substantial sum.

Question: As the buyer who was in default is refusing to sign the release of the earnest money, are there any next steps I can take to compel them to sign? I understand that often this situation ends with an agreement for each party to take a 50/50 split. Any other options that anyone can suggest, keeping in mind this is a CA contract?

Hey guys I'm in a bit of a pickle, I'm finally ready to invest in real estate, part of me wants to sell but if I can refinance and move someone in that'll be cool too. Here's a little history I bought my home back in 2014 as a foreclosure at 159k, I currently owe like 123k. My real estate agent believes I can get 270-280k with how the market is now. It's in a great neighborhood and the schools are good also here in Denham springs La, my agent and I have history we actually went to High school together. I consider him a good friend, he actually helped me find this home in 2014, he also invests in real estate. He told me that either way I go its a win. My plan was to take the money from selling the house and use it to pick up on some of these foreclosures that's about to hit the market, but if I can refinance the house and use my current home as my first investment property that would be awesome. When I bought the home my interest rate was/is 4.25% he told me if I refinance at 2% my note would go from $1200 to around $800, and I could probably get around 1600 in that neighborhood. I'm actually moved out of the home now and I've been doing some renovating. Any suggestions will be appreciated. Thanks.

I (25) live in LA with my parents and am chugging along at work saving up money for whenever I figure out what I want to do with it. Recently, my uncle (who owns a few condos near his businesses that he rents to employees) called me up and said he's willing to go 50/50 on an investment property with me. Thus begins what could be the most important financial decision of my life.

Between then and now, I've started reading a few books and listening to a few podcasts to get some ideas. But at the moment ideas without enough background knowledge is all I have. Being in LA my entire life, its sort of the elephant in the room for me lol. So I ask the more experienced folks, what are pros/cons of Los Angeles?

Hi guys,

I'm looking to invest in a property with the following criteria:

1. It has "beach city" weather. I might have to live in this property for a few years first, and I *hate* hot weather. Looking for city where summer weather doesn't go above 80. So that includes Long Beach, San Pedro, Lomita, Seal Beach, Wilmington, Lomita, Westminster, etc.
   
2. It's a city that's relatively cheap (i.e. not Palos Verdes or Huntington Beach) but is the fastest among up-and-coming beach cities in terms of gentrification . i.e. the area is continuously getting safer and the HHI of the neighborhood is getting higher for the next 10 years.

I think based on my criteria Long Beach should be top of the list. But if there are other cities that you think also fit into this criteria I would love to know. Thanks!

tldr: I want to invest in a home in a city with beach city weather that also has the most potential for gains due to gentrification in the next 10 years.

Hi all- This is my first post. I own a structural engineering firm and co-own a design-build firm. Both of these business endeavors are new (~2 years old). I have over a decade of structural engineering experience, primarily on large commercial projects. Personally I'm looking to get into investing in real estate. I'm hoping to leverage my expertise and network- looking for opportunities for new builds, intensive renovations, etc. I'm interested in the Los Angeles and Palm Springs (and neighboring desert cities) areas. I'm located in Playa del Rey and looking to connect with others that have real estate experience in these markets. Would love to chat with other investors in the area and would greatly appreciate any advice. I know the building market is crazy right now with labor and materials, but if anybody has a good concrete/foundations crew that is looking for new work please let me know!