Best time to start buying Multi-Family in Los Angeles again?

[Jamie Garcia]

Hello,

When will be the best time to start buying Multi-family in Los Angeles or LA County again?

Anyone have any insight?

[David Varvaro]

Hi @Jamie Garcia, there's a saying one of my mentors told me about the best time to buy, "The best time to buy real estate was 20 years ago, the next best time to buy is now." It's really hard to time the market and if you try to you can miss out on a lot of opportunities but at the same time you don't want to overpay at or close to the peak of the market.

With that said, you can still find opportunities right now and for someone who is a contractor like yourself you can create solid opportunities by rehabbing MFs. Right now I am seeing a lot of investment groups purchasing large apartment buildings on one end and on the other end a lot of individuals looking for 2-4 unit buildings.  There definitely is an opportunity in between the two since most individuals cannot finance 5+ unit buildings.