Flipping in Los Angeles?

[Adam Huss]

I'm a buy-and-hold investor in Pennsylvania, but as a licensed RE agent in California I am planning to begin flipping where I live (Los Angeles). I know the market here is very competitive, so I'm wondering if anyone has any advice on finding & getting that first deal in LA? 

Also, would love any suggestions of financing options that you've used and would recommend, as well as any contractor recommendations.

Thanks!

[Steve L.]

As you know, the market is very competitive right now.  

I would suggest you leverage the other agents in your office who get listings.  Put the word out that the pocket listing heavy fixer that is priced right is what you are looking for.  Allow them to represent you on the buy-side.  If you work at a decent sized office that is probably the lowest hanging fruit.  Many agents have some investors but some don't.  

You can also look a square foot addition projects or houses in R2 zoning.  

Lastly, maybe you can do some door knocking in your farm areas.  Maybe you can pull off a purchase instead of a listing.  

There are lots of strategies, but if you are already an agent those would be the areas that might be a good starting point for you.