All Forum Posts by: Clarence Johnson

Glad that you had success with the assessor but anytime you need to know the owner of a property a reliable agent can run a title search and get you an address in a matter of minutes.  Feel free to message me the address and I can make it happen for you.  I would be happy if my resources can save you time and money.  No strings attached and don't worry about me snaking your lead, I just wish to provide guidance and advice as others have provided for me.

 Yes sir, but there are no single family's in that price range in the city.

For $200k I would say look into a Inglewood condo...a few are still in your price range and there's room for appreciation....is your budget self imposed or what a lender gave you...if a lender told you that your qualified for $200k a condos HOA will lower the amount your qualified for....if the budget is self imposed I would try to acquire a duplex that makes more sense.

I personally vote for the Inglewood condo over the AV 2 family based on the proximity to the new development and the fact that most the 2 families in AV are in rough patches.  The Inglewood condos are still priced low enough to afford you some short term equity growth.  I have explored both options myself over the last few years.

1. Never trust Zillow.  Give me your zip code and I can provide accurate comps.

2.  I agree with Brandons advice in regards to looking at lock comps and consulting with the city for what they will allow.  I have dealt with Inglewood on a few projects, and they have not always been so reasonable.  

3.  I'm a Realtor that owns (1 mile from development) and works in Inglewood and my honest opinion is to hold the property and try to use the equity to purchase a multifamily property in the area of the Stadium development.  

4.  Jaden, some areas of Inglewood appreciated 15-20% last year; the media attributes the price jump to the Rams moving, but the development surrounding the stadium, the metro project, and the Forum redevelopment have all contributed to record growth before the team inked in the deal.  In short,  yes buy and hold here.  Look at multifamily West of Prairie,  theres a lot of room for growth in that area.  

5.  Call or message me for any insight, I would love to assist with your investment strategy. 

Also...I wouldn't classify the areas surrounding as war zones, even at their roughest they are stable rental areas, most with no RC.

Prices are high if your looking for cashflow, there are opportunities for long term holds and flips.  The adjacent area of Los Angeles can be rough, but for thosr thst know the area there are also several nice suburban areas. My general view of Los Angeles multifamily is that high cashflowing areas will not offer long term appreciation, while areas such as Inglewood with opportunities for equity growth are about at a break even point.  If you need any direction feel free to message me, I live and work in the city.

Just wanted to thank everyone for their advice and provide an update on the scenario.  The initial judge heard the case and awarded the plaintiffs $800 to cover their security deposit.  My parents contested the award and the tenants failed to show for the next court date but unfortunately my parents were late and the judge gave them another court date.  Last week my parents went to court and the tenants failed to show up.  $0 out of pocket, close call, and a priceless lesson for all.  I learned more about commercial property fire maintenance requirements, my parents will incorporate for tax and personal protection.  Our paper trail was key (fire report, section 8 documents, text, emails, timeline etc).

Why did you sale?  I'm local, I may have actually shown your home to some clients of mine.  Both areas are changing,  but I'm glad someone else on the ground can attest to what's going on on our side of town.