Which area do you suggest for investment around Los Angeles?

Question

Just arrived LA, want to drive around and study investment property around Los Angeles area. I lived in Glendale and Eagle Rock before but it was like 16 years ago. I know Glendale is B+ area but after running the number, it is not investment friendly. Things changed a lot after 16 years, the place I lived in Eagle Rock is up on the hill called Washington Mount ( if I remember correctly), this area was consider low end area but now that property i lived is like 800k.

Need some suggestions on which area is still investor friendly. I am looking for buy and hold property. Thanks you

Need some suggestions on which area is still investor friendly. I am looking for buy and hold property. Thanks you

Peter Sik · Answer

Account Closed I lived at Sunny Height Drive which is only one minute away from Elyria Canyon Park. What a shame, I never visited that park.

I now own 2 rental properties one in Murrieta, CA and handle by management company. So far so good for 6 years. As now, I have a chance to revisit LA that's why I am hopping to get my third property and need some suggestion from investor's view.

Account Closed · Answer

I'm curious to see what those houses are currently being rented for and if the owners are gaining cash flow. What do you think?

Account Closed · Answer

The area is called Mount Washington and I love it up there. Recently a couple buddies and I went on a hike in that hidden little park called Elyria Canyon Park. Super fun, great views, and some really big new developments. I have a couple of friends that have houses up in the hills there and I know that there's a handful of celebrities living in the area as well.

I found this 2 house property on zillow the other day: http://www.movoto.com/los-angeles-ca/1947-wollam-s...

The two for one house combo seems really neat and it would be a dream to live in one the units myself and rent out the other, but that price! OOF!

I would love to do some BRRR strategies in LA but the prices I'm seeing make it seem difficult to pull off. I know there are always deals to be had and sought out but wow the market does seem pretty saturated. I have heard and seen for myself that the Boyle Heights area is very up and coming. Lots of new galleries are popping up there and many artist lofts are sprinkled about. The locals are not all receptive (there was an article about this on the NYtimes recently) to the looming gentrification that is slowly taking hold. I get it! I would hate seeing hipsters buying up properties out of no where and the identity of my hood quickly disappearing.