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Updated about 10 years ago on . Most recent reply

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Decorium Johnson
  • Investor
  • Atlanta, GA
0
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14
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Looking to go play in real state in Los Angeles Cali after having success in Atlanta Ga

Decorium Johnson
  • Investor
  • Atlanta, GA
Posted

looking to invest in Los Angeles flips but prefer buy and hold I will be visiting in March to start my search and moving buy Dec of this year any good advice and tips are welcomed 

Most Popular Reply

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107
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Allan Glass
  • Investor/Developer
  • Los Angeles, CA
92
Votes |
107
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Allan Glass
  • Investor/Developer
  • Los Angeles, CA
Replied

Decorium,

Welcome and good luck!  My quick tips to start:

1) California not Cali... 

2) determine your budget

3) grab a map and get to know the difference between West Los Angeles, South Bay, Mid Cities, South Los Angeles, East Los Angeles, San Fernando Valley, San Gabriel Valley, Downtown and surrounding areas like Silverlake, Atwater Village, Los Feliz, Echo Park in a general sense.  These can all be considered "Los Angeles" but vary dramatically in price, demographics, and demand

4) rent a car when you arrive, get to know how the areas connect to each other and where the "center of gravity" is for each of these areas

5) Once you've set your budget find 2-3 brokers who have several listings in the areas you'd focus on, buy them a cup of coffee and pick their brain on what direction the areas is going, where the deals are, how to best position yourself to buy

6) bring proof of funds, your conversations with brokers will go much farther once you show them you can close.

7) understand that what you see in spring will not be around in December if it's worth buying.  This is a highly competitive market and good rehab deals don't last more than a couple days.

8) have fun and tell us what you think after your visit.

Cheers,

A

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