All Forum Posts by: Michael Ehrhart

Hi Samantha,

I'm not sure if you have heard of the new save plan that was implemented. As this might affect your decision. https://studentaid.gov/announcements-events/save-plan

Even as a high earner it looks like this plan could save you money.

It's definitely a personal choice, as it depends on if you are looking at the short or long term, but I would look at all of the data before making your decision.

Personally I would look at the long term as Real Estate is a long term game. Calculate what you would pay long term for the student loan debt, including your potential pay increases, compared to what the duplex would earn you in appreciation and future potential cash flow. As you stated the property is not currently in a great area, which could mean huge potential upside for you in the future.

Plus keep in mind the average mortgage loan rate right now is between 6 to 7% which isn't far off from your student loan interest rate, if you were to turn around and buy a property.

Feel free to reach out if you need help sourcing any of the market data to make your decision!

Hi Suzanne, 

The best strategy will depend on how much time you have to dedicate to finding a deal. 

If you don't have too much time a realtor specializing in foreclosures, a REO agent, or even a wholesaler would be your best bet. BiggerPockets is a great resource to build your team and get started.

If you have significant time then you can use sites like PropertyRadar & Propstream and even local newspapers to find foreclosures. I would also reach out to one of the above, as that will increase your chances of finding a deal that fits your criteria.

Depending on your criteria and available time either or can be advantageous. Auctions are a great way to get a steal, but you risk more of your time as you can be outbid.

Yes, for instance one of the agents I work for specializes in Probate and Foreclosures.

Feel free to reach out, as we would love to help you anyway we can.

Hope this helps you get started! Happy Hunting! 

The Real Estate team I work with has quite a few high end teardown or BRRR opportunities all off market.

The properties range from $8 to $28 mil in zip codes (2) 90210, (5) 90049, (1) 90024, (1) 90265

Please send me a DM and I will send additional information.

I also have a $2.5 mil teardown on the Venice Canals (90291) with a lot over 2800 sf. New builds on the canals with similar lot sizes have been selling over $6 mil.

 Hey Jason,

My team is in LA so I can answer some, but not all of your questions:

- Cash flow is still possible in Los Angeles when you find the right deal. However with little money down it definitely will make it harder.

- Straight from adu.lacity.gov: Since 2017, California State lawmakers have passed multiple bills to make it easier for homeowners to build ADUs. Five bills made effective on January 1, 2020 have significantly streamlined the ADU construction and approval process.

Plus: The budget agreement (enacted June 27th 2023) restores $50 million for the California Housing Finance Agency's ADU Grant Program, which provides up to $40,000 to help cover the planning and permitting costs involved in an accessory dwelling unit.

- BP thread relating to your question: https://www.biggerpockets.com/...

- LA County has multiple different cities with different RSOs, so this will really depend. That being said most of LA county is pro-tenant.

- External concerns: I believe the state budget shortfall has been addressed in the recent enacted budget agreement on June 27th. 

Job sector data for LA county: https://www.bls.gov/eag/eag.ca... 

Luckily with all the recent rainfall this year emergency drought requirements have been reduced, but still an ongoing issue. Unfortunately I don't have an answer on the rest of these concerns or how to navigate them.

Hope this helps!

Hi Richard, 

I just sent you a request. I'd love to learn more about what you are looking for.

Preferences on vacancies, cash or financing, ideal time frame, fixer or rent ready, just to name a few.

Hey Ryan,

I would love to know more about your property, my team has multiple investors that might be interested.

 Hey Raj,

I live in Los Angeles, CA and the method I have found that works the best is using websites like PropertyRadar and Propstream.

You do have to pay to use these sites but it saves a lot of time, as you can filter to exactly what you are looking for.

It looks like you have a bigger pockets pro membership, so you might want to check out Invelo. They might have that capability as well.

That being said you can also check your local newspaper, as they are required to post the notices in California.

Hi Stephen,

After you find the owner, by going to https://publicrecords.netronli... , as Nate Carey stated, you can go to this free website: https://www.truepeoplesearch.com/# to find the owner’s numbers and emails. 

Some of the #s will be old or dead numbers, but this site usually has at least 1 listed number that is correct. I have found these #s are the same as some of the paid apps or websites.

If you are looking for all in one tools to save on time PropertyRadar and PropStream are both really great for finding everything from Notices of defaults, owner information, property history, and owner contact information.