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All Forum Posts by: Clarence Johnson

Clarence Johnson has started 8 posts and replied 285 times.

Post: Question for all landlords

Clarence Johnson
Posted
  • Real Estate Agent
  • Inglewood, CA
  • Posts 294
  • Votes 150

@Patrick Snyder Inglewood charges $20 per unit, LA City charges about $30-35 per unit via the rent stabilization ordinance, and Compton charges $20 per unit.

Post: Please Help me analyze this deal

Clarence Johnson
Posted
  • Real Estate Agent
  • Inglewood, CA
  • Posts 294
  • Votes 150

@Brian Whitney interesting, where I live breweries are a great sign of change and growth.

Post: Moving - do we rent or sell and invest outside CA

Clarence Johnson
Posted
  • Real Estate Agent
  • Inglewood, CA
  • Posts 294
  • Votes 150

@Keith Gilbert I think that weighing the pros and cons of the tax exemption now against a possible 1031 exchange later may be helpful. @Doug McVinua idea to buy a cash flowing rental in Az and keep some cash on hand sounds like a winner to me. Also, it may not be easy to rent a nice home in a blue collar area for upwards of $3400.

I'm also interested about why paying a Ca rental off is not advisable.

Post: 11k saved for an investment prop... NEED A CONFIDENCE BOOST

Clarence Johnson
Posted
  • Real Estate Agent
  • Inglewood, CA
  • Posts 294
  • Votes 150

@Patrick Crehan I started in a house hack, best decision I have ever made. It allowed me to save for the next investment and obtain hands on management experience as I scale. @Aziz Wali FHA will allow you to purchase another property in 1 year start with a 2-4 unit, then purchase a condo, then purchase a sfr that can possibly be converted into a duplex. Your concern about then not giving you two mortgages is usually not an issue when your filing the rental income on your taxes.

Post: Alabama Market Comparison

Clarence Johnson
Posted
  • Real Estate Agent
  • Inglewood, CA
  • Posts 294
  • Votes 150

@Scott Starkey I like the idea of finding a potential multifamily BRRR in the area, in your experience does the demand for apartments match that of Sfr's.

@Melissa Nash can you please explain the hybrid BRRR.

I need to visit asap.

Post: FIRST BRRR Complete! Details + Pictures!

Clarence Johnson
Posted
  • Real Estate Agent
  • Inglewood, CA
  • Posts 294
  • Votes 150

@James Gates this is awesome. I have been exploring BRRR's in Montgomery and Birmingham , do you think there are opportunities for multifamily (4+ units) BRRR's in the Huntsville market? Do you plan on traveling anytime soon? I'm just south of you in LA and pass through Redlands often on my Big Bear runs.

Post: New Investment Opportunity + Feedback

Clarence Johnson
Posted
  • Real Estate Agent
  • Inglewood, CA
  • Posts 294
  • Votes 150

@Jay Williams, Check Zumper.com to assess market rents, we have a building there and I look at multifamily listings all day, my figures are typically on the conservative side.   I think if rates continue to climb prices will soften, but if your strategy is buy and hold it wont matter as LA rents will not dip.  If you wait until rates rise and prices fall your monthly payment will likely be higher, but it will feel like a deal lol.

Post: New Investment Opportunity + Feedback

Clarence Johnson
Posted
  • Real Estate Agent
  • Inglewood, CA
  • Posts 294
  • Votes 150

@Jay Williams depending on the condition the market rents will be closer to $1500-1600 and I believe the ARV to be 600-700 (mostly based on market rents). Depending on repairs, at $600k it would cashflow with a FHA loan ($30k down), which tells me that if it hits the market it would make even more sense for a conventional buyer. The X factor seems to be repairs, doing your due diligence ahead of time tells the seller that your serious and points out things that they cannot "unsee" prior to putting it on the market. I know Compton well as I lived there as a kid and we have a family multifamily property there that I'm trying to develop. If you want to BRRR cost to rehab, a more precise ARV, and your ability to qualify for new loan and LTV needed become your homework. Good luck and feel free to reach out for any further info.

Post: Big Bear Vacation Rental - Full Team

Clarence Johnson
Posted
  • Real Estate Agent
  • Inglewood, CA
  • Posts 294
  • Votes 150

I will be in Big Bear in Feb for a staycation from LA.  AirBnbs are doing well there and the city gov seems to embrace them, unlike LA County and other places passing legislation to limit nor eliminate them.  Its's a niche market and I know some great agents there, I will be the first to advise to make sure you deal with a local.  

Post: Inglewood, CA Market

Clarence Johnson
Posted
  • Real Estate Agent
  • Inglewood, CA
  • Posts 294
  • Votes 150

@Will R. that Century and Van Ness neighborhood is very close to me, the area West of Van Ness is Century Heights in Inglewood (not many multis and sfr's on a hill with airline views of the city), East of Van Ness is Los Angeles city and county.  The benefit of county of LA is that it is unincorporated and is non rent control (as soon as our illustrious board of supervisors end the prop 10 rent freeze).  The border between the county and city is pretty squiggly so you have to look closely at a map to determine the difference, or check a website like zimas.lacity.org.  Congrats on the purchase and welcome to the city!