Is now a good time to purchase in the Greater LA market?

[Sam M.]

I'm wondering if now is a wise time to purchase an SFR for flip in the Greater Los Angeles market. When I constantly hear reports of it being in the height of the market, I worry that prices may drop and have a large impact on the return. I'm interested in hearing your thoughts about where the market is going from here and if holding off on a purchase for now would be a wise move. Thank you in advance!

[Lee Ripma]

@Sam M. Folks are going to tell you that each deal needs to be looked at individually you can't make a blanket statement about a good or bad time to buy in an area. Can you find some sort of incredible opportunity in the city of LA? I'm not sure, can you? People do on this site. If you're talking about paying market price for a SFH in LA right now then you're banking on appreciation. Do you think there will be continued appreciation? Is buying for only appreciation a good idea for you? I don't know, is it?