All Forum Posts by: KJ L.

This post does not request information on how to "skirt" HCIDLA/RSO. It is not illegal to conduct condo conversions nor is it illegal to Ellis Act a property as long as the rules are followed and the property isn't turned into a rental within the 5 year time period. The question is whether someone has taken a RSO multifam, Ellis act/evict tenants and converted property into an SFR and if so, share their experience.

Great work Shawn & Zerik!

http://zimas.lacity.org/

Hey Marty, I've contacted a local banker who was doing refinance loans at 3.5% (this was in last month) and another bper used her for property purchase since the rates were so competitive. I dont know if they'll accept an appraisal value based on income approach instead of sales comp approach but if you want me to send you the banker's info and you can ask her, then DM your email address to me. 

If you go to the Biggerpockets.com "network" tab and go to "events", you can search for all the meetups in your local area. 

You might want to consult with a lawyer. STRs in LA make generate a lot of revenue. See if there are any legal methods to operate the STR.

Welcome to BP! 

@Yancy Fort Go to the Network Tab on the BP website and click on "Events". You'll see all of the posted events for the area that you're searching for. 

Also, what area/neighborhood are you finding SFRs on 1.5 LARD zoned land? 

We found our deal on the MLS. A few people I know find their real estate through the MLS, Zillow, Nextdoor (surprisingly they show RE for sale in your neighborhood), and public sites. It'll probably take time to find the deal though especially when you dont provide an all cash offer.