Multi family in South Los Angeles

[Stephanie Gomez Cook]

I’m looking to purchase my first multi family in South Los Angeles, a couple miles from USC. This will be my first hack. I’ve read the Househacking Strategy and done some mild research on the regulations and ordinances in Los Angeles. Does anyone have any tips for me or information I should know? 😊

[Mel Hayes]

@Stephanie Gomez Cook

I know this area like the back of my hand. Ti.p.ohe area is being heavily gentrified and you will do very well. Some things I would suggest:

1. To your applicants and tenants be the property manager not the owner.

2. Create very strong pre-requisites for applicants and stick to them. LA is a tenant friendly city and if you get professional tenants your investment will become you worst nightmare.

3. Find a property management software. I use rentredi and I love it. There are many others so look into that.

4. Since you have the units empty, get the units inspected by the city so you can be notified of any problems. If you end up with tenants that like to call the city you will have a clean report on file.

5. DONT ACCEPT CASH.

6. If your place is sitting vacant don't lower your standards to get a tenant. Be patient and get the tenant you want. The wrong tenant will ruin you in this city.

Message me if you need any help with anything.