All Forum Posts by: Vinay C.

Is there a way to get it online? 

Welcome Josh. I am based in LA and work in the tech sector. I started my real estate journey last year and have similar timelines as yours. Let me know what you are looking for and I can point you in the direction perhaps. I have been to LAREIC meetings in Westwood (on Thursdays) and Sam Sadat's meetings in Santa Monica (on Wednesdays). These are opportunities to learn and meet people. I would also recommend Peter Harris's free online course on Udemy about commercial real estate. Super helpful with new tools. 

Best

Vinay

Hey Ali,

Do you mind passing me the info too.

Cheers

Vinay

@Clarence Johnson the interest rates are all relative to the deal though right. It makes it a tad bit more challenging to find that unicorn in LA. I see that you are a realtor and invest in buy and holds. Have any multi-fam on your list in the LA area with a cap rate of 7+? 

@Dahrian Barrett cheers mate 👍🏽👍🏽

@Aaron Sladek My place is in North Hollywood. I will PM you more about the contractor. 

@Clarence Johnson This was back in Aug 2017. The interest rates were lower compared to what they are today. I had FHA loan options of 3.75, 3.875 and 4%. I took 4% so that they paid for my closing costs. Today I believe this is hard to get. I went for 4%, so I could spend less out of pocket. Also I knew I was going to refi since I would want to get rid of the PMI. My lender was Stearns Lending. I would also suggest checking out CCU (California credit union). Their 7/1 ARM is about 3.875 about 8 weeks ago. That is what I ended up refinancing it for.

@Aaron Sladek Smart move going with minor renos I reckon. It helps you build relationship with handymen and contractors, helps you learn the ins and outs of the process a little bit. I did the same. Inglewood is a good place to look at. The cap rates are slightly higher than other areas. I don't know the area well enough but I have heard people on other posts on biggerpocket mentioning it. 

@Andrea Barbee Check out Onewest bank. I haven't personally talked to anyone or looked into it in detail over there but heard they can do that. The interest rates are little higher though. I couldn't find the other link where I saw that as well. If I come across it, I'll let you know. I also listened to the commercial real estate investing for beginners by Peter Harris on Udemy. Its a free course you can do. I skipped through the different kinds of commercial investing and focused on apartment investing as that is more of interest to me. There were points like forced appreciation he mentioned that I wasn't 100% aware of at that point. Also he talks about finding a management company, what to ask them, what to look for etc. Eventually I will be needing those and I found those topics of conversation fascinating. Also the biggerpockets podcasts was good to listen and learn from. I also love browsing redfin, zillow, MLS, loopnet. I look at the cap rate / location / breakdown and decide if its a yay or nay for me. Right now I am focusing on the local area around where I live. i.e. LA. See how it goes. Hope this was helpful.

Thanks @Keith Leckey. My agent said it would be in the $850K - $900K area. I have an appraiser coming in today. So I'll find out a more focused number in the next couple of days.