Seeking Los Angeles Apartment Market Advice

[David W.]

Hello! 

Does anyone invest in apartments in the LA market? It seems that all posts from youtube, podcasts, forums never talk about LA. Its very hard to get an idea of the LA market when people are talking about 10 cap rates in midwest and buying apartments for $500k. Its LA is expensive with low cap rates but yet people are buying here so just want to find a source I can learn more about the area. Any advice is appreciated about LA! Not looking to invest anywhere else at the moment

[Will Barnard]

I have a 14 unit in K Town (value add deal) currently in construction on the remodel. About to start the stucco lathe soon and then the interior finishes can begin after drywall. Investing in LA is not easy as the acquisition prices per unit are very high so you obviously need a lot of capital to take them down and your initial cash flow could very well be negative so your plan must be there too. As far as learning the market, speaking with brokers would be a good start as well as driving areas and looking at listed deals to get familiar with what is out there and at what price points. Learning your market conditions is also key. There are all kinds of data sources on the net as well as from brokers.