Updated about 5 years ago on . Most recent reply
House Hack West Los Angeles
Hey BP. My wife and I have decided to house hack here in West LA for our first real estate investment. I know we aren't going to cash flow etc... Yes, LA is overblown, we should invest OOS etc etc...I know all this...
However, we are a team and getting her to drop the old American dream is a lot harder than it seems. Happy wife, happy...
The compromise is for us to house hack a multi, so we can at least lighten costs on the front end.
We're on the hunt for a duplex / triplex in West LA. Anyone had any luck recently with market and off market purchases? Looking to connect with other investors in the area as I want to really dig my heels in!
Thanks so much!
Most Popular Reply
Hey Adrian,
A lot of people from outside of the LA market will suggest for you to go out of state and how great it is etc. etc. etc. but there are plenty of great deals to be had in LA, as long as you can get a little creative. I do 95% of my business out of state and still suggest you should keep it in a market that you know, especially for your first deal.
Start searching for on market deals first. Do your research and nail down exactly what it is you're looking for. Get your POF or pre approval ready and start searching. Just pull up redfin and start calling brokers, communicate that you're a serious buyer, tell them what you want, and let them do the looking. Talk to 10-20 brokers per week, put in offers, and you'll have a deal in no time.
Best of luck!