Property Analysis BRRR Los Angeles

[Jamie Garcia]

Here's the breakdown... Purchased my 2nd property for $645K in an area of Northridge here in Los Angeles. Comps in the area are anywhere between $850k-2M. Beat out 15 other offers. Place needs a LOT of work but I can handle it. Put down 20% on the property. Really love the neighborhood as a house I can fix up amazingly and live in it myself with my future family, I'm 28. Considering putting in around $150K-200K in upgrades. Considering all I'm going to do to it, I'm a Contractor myself, I feel I could get it reappraised for anywhere around $1.2-1.5M. I'd love to then take that money out and re-invest in some more property, possibly a bigger multi-family.. Anyone in Los Angeles able to give me some advice and maybe answer some questions I might have as I continue to go forward with this? I'd appreciate any feedback! Best, Jamie