All Forum Posts by: Mike Berina

Hi I could use a little help/advise. I was casually browsing LA county tax liens, which redirected me to a site where I saw that a house in my parent's neighborhood is going up for auction next week. It's a quiet, nice neighborhood with large lots. The property is 4bd 3ba, 3000 sq ft., lot size 17,000+ sq ft. Comparable properties in the area are selling around $1.4m+, and every house in this neighborhood is selling over $1m+, so I figure there's a lot of wiggle room for profit if bought at the right price.

My initial problem is that it requires a $100k deposit to join the auction, and starting bid is at $280k. I have nowhere near that much cash to even join the auction. Are there are any creative ways to get in this?

@Chris De Celle thanks for the advice. I do have access to invest in an oos syndication with 18% return over 6 months, so I might invest in that while I continue to learn and look out for a good deal.

@Steve Rozenberg I watched your Dream Investment Adventure series and found it very insightful and inspiring! It's an honor to get your advice, and yes, it definitely helps! My goals are very ambitious for the time frame so I'm wondering if they are unrealistic and I should push the time frame out a bit.

@Jeff Wallenius Thanks for the wisdom, Jeff. I definitely plan on doing a thorough team vetting before I even consider purchasing a property. I'm down to hear about your experience and what pitfalls to avoid.

@Ali Boone I would be open to either out-of-state or out of LA. If out of LA, probably somewhere still in SoCal or central coast within 2-3 hours driving distance. But if I can get a better deal out-of-state than I would in CA, I'd def be open to that. Where are you investing?

@Kevin Tsai Agreed! Def some gems of wisdom in the replies. Happy to connect!

@Jason Hsiao I am not too familiar with ADU laws. It sounds a bit intimidating. I'll have to do a bit more research on that. Thanks for the suggestion!

@Kevin Tsai

Hey everyone! Happy lunar new year!

I am based in Los Angeles (San Fernando Valley), and looking to start investing this year, aiming for cashflow. I am curious to learn what markets investors based in LA are investing in and what strategies they are using. It would be nice to invest in my area, but with expensive prices, I doubt cashflow is viable (unless someone has figured out a way to cashflow in LA).

I'd love to connect with LA investors and hear about your experiences.

Hi @Jeffrey Isenberg. I'd like to join the next LA meetup please. Thank you!