All Forum Posts by: Michael T.

@Dale Hsu great to have you interested in investing in Los Angeles!  There definitely are quite a few investors that are looking for cash flow opportunities in Los Angeles right now and they are difficult to find.  They're not impossible but they are more difficult.

Depending on what you're goals and needs are there are multiple people that can help you through the process.

@Kate Johnston as both @Sam Shueh and @Account Closed mention it depends on what you're getting into.  Are the construction deals single family, condo, multi-unit or multi family?

Yes, there is more single family and condo inventory on the market compared to last year but the price has held with fairly minimal growth.

There definitely will not be the same growth as previous years, however, this is for a majority of the country.  There are still good areas to invest in the greater Los Angeles area.  My top recommendations are; Inglewood and Hawthorne both from a single family and multi unit perspective.

Yes, Inglewood did recently have a moratorium place on rent, however, there will still be upside due to the gentrification process.  Also, since Hawthorne still doesn't have rent control that will be the next location to invest.

@Amanda Penna there are still quite a few details that are missing before anyone could tell you if it would be good to keep it as a rental.  

As long as all of your costs are included in your cash flow of $150 a month then it's not the worst deal, however, unless your property is going to continue to appreciate at a strong pace or you're going to get more cash flow it seems like the $215k in equity could be better used somewhere else.

@Patrick Menefee yes every property is regional and typically properties that are in B-, C, C+ areas will get closer to the 2% rule.  While these properties will get closer to 2% they will have very little appreciation and typically have more repair costs.

Determine what you want to achieve and what your goals are and you'll find out if you're okay with appreciation or cash flow.

I personally invest in the Los Angeles area for appreciation and out of state for cash flow.

@Emmanuel N Okafor pursue it if you have the time, effort and means to do it.  Don't let a shady investor get off the hook with this type of fraud.

@Shiloh Lundahl unfortunately you are correct a million dollars today does not go very far especially if you live on the West Coast or East Coast.

Here in Los Angeles a typical homes costs approximately $900k so there are numerous real estate millionaires here.  However, as many people have mentioned there is definitely a difference between net worth and cash/liquid assets.

It's a great accomplishment for anyone to become a millionaire, however, it doesn't mean it's time to slow down.  Now is the time to speed up, become a multi millionaire so you can ensure legacy wealth for you and your family.  

As you mentioned this is the time to continue to share and teach others that are ready to learn how to become financially independent.

@Donn Montenegro it sounds like you have decent property and if you bought it in 2004 and you're bringing in $98k you should be cash flowing well so it shouldn't be an issue to refinance.

Are you asking who can help you refinance?  There are quite a few commercial lenders that can assist you in this process.

If you need assistance with lenders please let me know.

@Bryce Carroll Los Angeles and the beaches here are great!  It honestly depends on where you want to be but Manahattan Beach, Redondo Beach and down to Huntington Beach and Newport Beach are options.

All of these locations typically have very good appreciation and while the appreciation may not be as strong the next few years I think you're still in a good position from a long term hold perspective.

Depending on your needs and as long as your flexible we can get you something that is close to positive cash flow. 

I'll send you a direct message and provide some ideas and recommendations.

@Jason Gamio there have been properties I've bought sight unseen, however, I know the city, I have confidence in my real estate agent, I have a good property manager and if they are okay with it I'll purchase without seeing it.

As others have mentioned it's not worth doing if you don't know the market, you don't have the cash or you don't have a few players in place to help in the process.

@Daniel D. honestly, if you're asking these questions at this point and you're this far into the process it is probably in your best interest to not continue through the process.  

You either need to learn more or have a qualified real estate agent help you.  

My concern is you're going to get yourself tied into a contract and be financially liable for something that you're not ready for.