All Forum Posts by: Account Closed

Hi everyone! Thank you for your input, I think we have enough interest to get this ball rolling. How does Saturday, August 26th at 10 am sound in front of Vermont Square Branch Library? There is a park next to the library and I will bring a few lawn chairs and some refreshments. If you have lawn chairs and investor/owner friends interested in South Los Angeles, please bring them =]  

Please send PM me your email address and any prospective topics/questions/suggestions so I can email any meeting updates and arrange an agenda. I'm so excited and I'm looking forward to meeting you all!! 

FIRST SOUTH LOS ANGELES RE INVESTORS/OWNERS MEETING

Date: August 26th 
Time: 10:00 AM
Place: Vermont Square Branch Library 
1201 W 48th St, Los Angeles, CA 90037
Contact: PM your email address please 
Things to Bring: Lawn Chairs & Questions/Ideas/Experiences

@Jason Carter @Reyes Velasco @Andrew Cho @Shawn Ward @Luke Aubrey @Greg Rulfs @Brandon Foster @Benson Juarez @John Michael Rico @Brian Ploszay 

@Benson JuarezThanks for the information! Yes, can you PM me the link and any other great information you might have =] 

To piggyback off @Joseph M.'s comment, yes Rent Control affect rental prices by forcing prices to stay down which acts as an incentive for rent control tenants to stay in a rental for a longer period of time compared to the average renter who might eventually purchase a home. Some will argue that rent control restrictions reduce inventory on the market which then also restricts supply.

Another issue with Los Angeles is their extremely restrictive building regulations so when the city already has a supply shortage, LA is counter-productively discouraging additional apartment building by making it difficult to build and also very expensive to build. This is why most units that are being built in Los Angeles are luxury apartments, which also increases rent averages.

@John Michael Rico Of course! I'm trying to gauge whether there is interest in having a meetup in the area. I'm hoping people respond and say "yay" or "nay" haha or maybe I just need to set a date and see if anyone responds. 

@Benson Juarez Wow 74 fix and flips in 12 months! The selling agent for my duplex is also flipping properties in the South LA area and the average sales price is between $400k to $650k. What streets did you use as the East/West boundaries? Are you a flipper in the area? 

@Jonathan A. Hey Jonathan,

How is your tenant situation going? Hope you're getting the assistance you need. Let me know if you need a referral for a RE lawyer. 

Hello Bigger Pockets, 
My boyfriend and I recently purchased a property in South LA (near USC/Vermont Harbor). There are a lot of developments and changes occurring in this region of Los Angeles and we've noticed more investors moving into the area. I'm wondering if South LA investors/owners/and prospective owners would be interested in meeting on the 19th or 26th of August (or later in September)? 

@Herman Stevens That is awesome! I'm not familiar with the Lake Isabella area, I'd love to learn more. 

@Hector Bastida Yes, Lee is correct about rent control tenant expenses but also consider that a 2-4 unit property in South LA with rent control tenants is usually much cheaper than purchasing a 2-4 unit that is already receiving market rents. If you have less than 4 units, you're considered a mom & pop property owner and you qualify to pay a lower amount in relocation fees (Check with LA RSO). If you evict tenants or provide cash for keys and then bring rents to market rate, then you're essentially adding value to your property.  

@Herman Stevens That's awesome that you and your gf already have 8 units!!! Thanks for sharing