All Forum Posts by: Clarence Johnson

Inglewood is perfect if you can reduce your expectation of 1500+ square foot to about 1300.  I'm a Realtor and I live in the city and have saw single family homes appreciate nearly $100k in one years time and in 3 years time my multifamily property has appreciated $170k.  Torrance and Carson are established but also have rough patches so I would beware if any home bordering $400k in those cities.   The least expensive single fam home in Westchester is $779k and there are no condos on the market but they tend to under $400k.  I would recommend some "safe" corridors of Los Angeles or Inglewood for condos, single family homes, and duplexes.  The sports team is not promised in Inglewood but I'm less than a mile from the development and the construction for the stadium development project has been going on since early this year.  The stadium project also includes homes, a city park, a hotel, commercial development, and a new casino. The originally the plan was to refurbish the existing casino but the developer is rebuilding  it in the corner of the lot so that it will legally be on another parcell of land from the stadium.  The explanation for the change was that a betting establishment cannot be on the same land parcel as an NFL stadium.  Based on my knowledge they are building the stadium regardless of any promise for a team, which is not to neglect the fact that the owner of the Rams is the primary investor in the development.  There are active listings in nice areas for $389-440k and their is high potential for appreciation withing the next 2 years. Even an Inglewood duplex can be atrained for about $450k.  Message me if you have any further inquiries and welcome to the neighborhood!

There was a tenant caused fire in my mother's 10 unit building earlier this year.  The tenant was evicted and we have documentation showing that it was caused by them and showing they were subsequently evicted.  There were no injuries and there was moderate fire damage to one unit and moderate water damage to 3 units.  Travelers Insurance told my mother that they are dropping her policy in 2016 due to her being a liability.  Upon calling to get quotes from other insurance companies we were told that they do not write new policies for properties with recent claims.  It is nonsensical to me that an insurance company can drop you for using their damn services.  She has owned the building since 2010 without any problems or claims.  Please help and advise if you know any companies that will insure the property.

There was a tenant caused fire in my mother's 10 unit building earlier this year.  The tenant was evicted and we have documentation showing that it was caused by them and showing they were subsequently evicted.  There were no injuries and there was moderate fire damage to one unit and moderate water damage to 3 units.  Travelers Insurance told my mother that they are dropping her policy in 2016 due to her being a liability.  Upon calling to get quotes from other insurance companies we were told that they do not write new policies for properties with recent claims.  It is nonsensical to me that an insurance company can drop you for using their damn services.  She has owned the building since 2010 without any problems or claims.  Please help and advise if you know any companies that will insure the property.

A title search revealing owner info can be ran on any property whether it's for sale or not.

I'm on a similar boat, my bank is asking for a 720 to do a HELOC that I want to use for a flip. Go to a free website and pull your credit report and I will put you in contact with the agency that my office uses for credit repair.

Any Realtor should be able to access title information for the properties you have questions about.  This would include owners names and mailing addresses.  If there is anything I can do to assist feel free to reach out.  I would love to offer my resources and insight as an agent as well as further develop myself an an investor.  

All looks well sir. Your insurance estimates are high. Is there any reason that you didn't use an FHA loan (3.5% down) or a low down payment conventional loan?

It was great meeting everyone yesterday.  Great information and ideas were exchanged, the time literally flew by.  If anyone needs anything or if there are questions I can answer, feel free to give me a call or send a me a message on BP.  I will definitely be at the next BP meet up and the Manhattan Beach FIBI meeting as well.

Is the LA meetup still on the 29th?  Also, what is the Manhattan Beach FIBI and who do I contact to get involved.  Thanks!

 Thanks for the advice and insight.  You sold the Buckler property?  I walked some buyers into that house the first day it was available to view last year.  The home wasn't for them but I didn't have the vision to attempt a flip.  That Buckler property sold for almost $500k.  I told myself I will never loose $100k chasing $10k again.  The aforementioned actually happened with 3-4 properties I showed my clients last year, all selling for over $100k more than purchase.