All Forum Posts by: Account Closed

@Joel Owens Thank you for your reply! I'm interested in buy-and-hold investing. I would like to start small with 2-4 unit apartment buildings in the areas I'd mentioned. Later down the line I would like to rehab and sell but for now it's strictly to hold and maintain.

Hi!

I live in the Los Angeles area and I am in the process of gathering my investment team before I pursue my very first acquisition later this year.

Some key players in any team, from what I gather, include a local broker (who works strictly on commission), an accountant, and an attorney. It has been suggested to me numerous times that gathering your team prior to acquiring any real estate is essential to success.

I would like to start going out and meeting with potential brokers in my area so that I may start this process, but I'd like to know if anyone can recommend any in LA, particularly in the Koreatown/downtown and Mar Vista/Palms (90066) areas? These are the submarkets I would like to check out.

Your help is greatly appreciated!

Hi!

I live in the Los Angeles area and I am in the process of gathering my investment team before I pursue my very first acquisition later this year.

Some key players in any team, from what I gather, include a local broker (who works strictly on commission), an attorney, and an accountant. It has been suggested to me numerous times that gathering your team prior to acquiring any real estate is essential to success.

I would like to start going out and meeting with accountants in my area so that I may start this process, but I have no idea how it works. Are there fees associated with a preliminary consultation? Are there important questions I must ask in the first meeting? Also, do accountants tend to only require payment once their services are actually used or are there any other fees I need to know about just to have them on call?

Your help is greatly appreciated!

Hi!

I live in the Los Angeles area and I am in the process of gathering my investment team before I pursue my very first acquisition later this year.

Some key players in any team, from what I gather, include a local broker (who works strictly on commission), an accountant, and an attorney. It has been suggested to me numerous times that gathering your team prior to acquiring any real estate is essential to success.

I would like to start going out and meeting with potential real estate attorneys in my area so that I may start this process, but I have no idea how it works. Are there fees associated with a preliminary consultation? Are there important questions I must ask in the first meeting? Also, do attorneys tend to only require payment once their services are actually used or are there any other fees I need to know about just to have them on call?

Your help is greatly appreciated!

@Giovanni Isaksen I really appreciate the advice. My friend's father, also a real estate investor specializing in multi-family properties, has numerous LLCs established (her guesstimate was about 18 LLCs) for tax purposes. So you do suggest that after the property is formally purchased to turn the vesting over to my own company, albeit unformed prior to the actual acquisition? And yes, I would be starting out with 2-4 units.

After listening to the podcast with Ken McElroy, I bought Ken's book, The ABC's of Real Estate Investing, and it's phenomenal! I have a quick question though. There is one section where he poses a hypothetical dialogue with a potential seller, and in the event that the seller asks who you are, the response is somewhere along the lines of, "we are a real estate investing company in (your town) and are looking for..." This is followed by a comment that if the owner asks to tell him a little bit about your company to be prepared with some thirty-second speech about it. My question is, would you recommend to start a company if you are an individual investor to appear more legitimate? I am new and will be in the market soon for my first investment this year and would like to know if being independent or actually forming an LLC of sorts would add credence to my endeavor. Any suggestions?

After this podcast I bought Ken's book, The ABC's of Real Estate Investing, and it's phenomenal! I have a quick question though. There is one section where he poses a hypothetical dialogue with a potential seller, and in the event that the seller asks who you are, the response is somewhere along the lines of, "we are a real estate investing company in (your town) and are looking for..." This is followed by a comment that if the owner asks to tell him a little bit about your company to be prepared with some thirty-second speech about it. My question is, would you recommend to start a company if you are an individual investor to appear more legitimate? I am new and will be in the market soon for my first investment this year and would like to know if being independent or actually forming an LLC of sorts would add credence to my endeavor. Any suggestions?

Hi!

I am based in Los Angeles and am interested in investing in one-to-four unit residential properties. I'm inquiring about which neighborhoods in the Los Angeles area would be wise investments and for what reasons.

Are there certain areas where tenants are more reliable with their rent payments than elsewhere; which areas are showing better appreciation percentages than others and perhaps some determining factors.

Your help is very much appreciated :)

Hi all!

I am based in Los Angeles. My uncle and I are going to be ready to invest in a one-to-four unit investment property soon.

I'd like to know what some of the most effective methods are to study market trends in my city. Are there any free resources to start with that can give great information about how properties in certain areas/zip codes are selling for, possibly Price Band, YOY, and Momentum information? What about local rents?

Our budget for a down payment is anywhere from $60-100k, possible rehab included to raise value. We are looking for a one-to-four unit and would consider living in a unit should we go through FHA. Any and all information would be appreciated!

Hi!

I live in the Los Angeles area and have been looking online for training programs for proficiency in Argus and Excel. Online the prices range to over $1000 but I've heard there are cheaper options, and also that a certification for Argus is not even necessary.

Any professional advice or leads for me to pursue?