Investment in Jefferson park Log Angeles

[Danny Attias]

Hi,

I have an option to join an investment of buying a lot with building permissions for 24 condo units including underground parking lot. where each of the units is expected to be rented in around $2400 and three of the units in $2000.

The planned duration of building the property including populating it with 24 renters is estimated by 2.5 years.

The property address is as follows: 3844 W 27th St, LA, CA (can be found by Trulia/Zillow).

The plan is to sell the new building while its fully populated to a fund in around $10M.

My questions are:

1. Do you find the location (in Jefferson park) good enough to achieve above goal in 2.5 years time frame?

2. According your experience, how much time will it take to find renters to all 24 units, 2 months, 1 year, other?

3. I would like to know if it is a good opportunity to invest-in or the goal described above is too optimistic and the investment is not that appealing. my plan is investing 70K while I am a part of group of people.

Thank you in advance for your answer!

Danny 

[Seth Borman]

If anything those rents are low. The area is up and coming.