Plus some sanding sponges and a dust mask, and a shop vac with a drywall bag inside it (otherwise you will destroy your shop vac with dust). 

Because real estate is much slower by nature (you can't sell and close on a house in 1 day) it's a little easier to read the tea leaves. 

I hadn't thought of re-purposing cereal bags yet. 

or plastic  garbage bags ( black ones)  and then wondering why they have mold  LOL

My investment started out rocky and ended up with me holding the bag at the end of the lease with the tenant 2 months behind...Originally posted by @Vlad Bahatyrevich:@Michelle Barlow Yes, after 2 years MI investment has worked out for me as intended and I would invest with them again in the cities that they cover.

When the market does drop, the hedge funds have very, very fast trades that happen before you can pick up the phone, leaving the small investor holding the bag.

IE there is still great profit in the deal.. if you ended up upside down then I could see a problem and I would be cautious on any buy and hold that way make sure the numbers still work.Most of the time we see these in owner occ situations.. and the people buying want the house to live in .but if BP is now talking about it .. cats out of the bag... at least out there on the east coast were it seems it was not used or known about much.. like I said in another post we started doing these in the 80's in Palo Alto when I lived there the first real crazy run up were listings were selling for 20 to 50k over ask.. 

If that is your cup of tea great. 

By some metrics, pricing here actually went up 1-2% over the last month, but it’s hard to read the tea leaves and really compare stats accurately to pre-COVID times this soon IMO considering all the new variables like showings only recently being allowed again and the fact that we have about half the inventory/sales activity as normal).

Arcadia and Redondo are both really high, San Pedro is technically part of LA so it is subject to their rent control, Long Beach is a mixed bag and to my knowledge doesn't have as much of a development plan as San Pedro.