All Forum Posts by: David Friedman

A lot of my clients in Los Angeles invest in the Inland Empire. I just helped my client get an 8 cap fourplex in Riverside, CA.

Hello @Mira Ramesh Babu!

Do you know if your client qualifies for conventional financing? Does he/she have 25% for a down payment? Are they buying units that are already rented or need rehab from the start?

You'll probably get messaged by a bunch of HM companies just by making this post ;)

Personal Home: Right out of college, so 2015 and I was 22 years old. I use a loan program that allowed me to purchase a home using my 4 year bachelors degree as my 2 years work experience and got a temporary job in my field. Employment contract in hand and my bachelor's degree, I started looking for a home while working. Found a great starter home near my college and put 5% down that I earned myself. Was making approx. $5,000 per month at the time.

Investment Houses: By the time I had purchased my personal home, I had already flipped two homes successfully with my father as my partner.

Nice value-add play. The city of Redlands is obtrusively hard to work with. No getting around their rules as they run a tight, but slow ship. You’ll need a land surveyor to split the lot. We know a few good ones if you want to reach out to us.

One benefit that I've heard of using out of state LLC's would be privacy. I believe in Nevada, the owner of the LLC isn't public record like it is in California. So, this may be useful for land assemblage.

I get Compton and South LA fixers from time to time. I do have one in Compton under contract right now, that I’d wholesale.

@Sean M.

If you need help finding better cash flowing properties in those areas,  I’m a broker that works with a lot of investors. We can talk over some coffee in LA this week if you are free.

I wouldn’t suggest buying either! Who’s guiding you on this?

I’m buying a duplex in Highland Park, south of Eagle Rock, where I will be a cash flowing after doing about $50,000 in rehab.  It’ll be approximately a 6.5% cap for me after accounting for expenses.

I just helped a client buy a 4 unit 7 cap (After expenses) in Riverside for $659,000.

 What I’m trying to say from all this is that the market is a little frothy right now and you should probably buy for current fundamentals in case the market goes down. 10 years might turn into 20 if you don’t buy something that makes sense today.

Feel free to private message me and ask more questions.

Seems like a good deal, even underpriced. Flipping an 1,100 sq. ft. house on 51st Ave that comps at $825,000 ARV.