All Forum Posts by: Abhi Jain

Hi all,

I liked a condo in LA and went in escrow. In the middle of the escrow the Bank denied my loan application because there is a litigation on the HOA. Apparently, another tenant in the building sued the owner and HOA for negligence.

Overall, the building is in a good shape and the amount of litigation is not too high either. Also, HOA has good amount of reserves.

So does anyone know of a lender who has no problems with the litigation on HOA. Please help. I need to know it ASAP as I am running out of time in escrow.

Thanks in advance.

So 5% Cap Rate is not good enough?

If yes, then what's a good cap rate to begin with. Please let me know ur thoughts.

Hi,

I am seeing properties in Long beach, CA with decent rental income.
Property Price: $500k approx

Rent: $3500

How is the long beach area for such investment property?

Let me know your thoughts.

Whoops! I meant Columbus (Ohio). My bad!

I started looking into rental income properties in Los Angeles area. I found out that zip code: 90001, 90002, 90003 have pretty strong rental incomes. I saw a couple of properties which are about $500k and they provide rent of about $4500+. 

Does anyone have any experience in these areas. Are these areas good for investing. Any advice is appreciated!!!

I recently talked to American Wealth Builders and they showed me some properties in Colorado. They say I need to buy the property in cash and are in the order of 40k and get a rental income of $600 plus. 

The thing is I am not able to trust them. They don't have any referrals. Their company itself doesn't have much web presence. The management company that they are working with also doesn't have any web presence. 

I am afraid if they are going to run away with the money. Or maybe perform for a year or two and then no performance... 

Any advice is appreciated.

Hi all,

Thanks a lot for the great inputs! Torrance is certainly not looking good when I am running the numbers. I have started looking at Gardena too. Will also look at Hawthorne, Lawndale and Inglewood.

@Victor Argueta

 Can you please name some specific areas when you say in land. I don't understand the terminology very well of the areas here, I guess. Thanks in advance!

@michelle and @Ali thanks a lot for replying.

@Ali I ran the numbers after your advice and you are right - it's negative cash flow. I downloaded the rental property calculator from hipsterinvestments.com and soon I understand the difference. I took a property which I was thinking to buy and put in the numbers and I saw negative cash flow. So I understand your advice. 

So what are some good areas to begin with, considering my physical location (Torrance, CA) where I should be looking at. 
Thanks a lot!

I live in Torrance, California and I am interested in buying single family home or multi family units in the lower price range and start renting them out. Please suggest any resources for me where I can look at the properties and things to consider to decide whether a property is good or not.

My apprehension is: Is Torrance a good area for a beginner or should I start looking at other areas. I thought that since I live in Torrance, I can manage it myself if there is a problem. Is that the right way to go?

Any advice is greatly appreciated!

Thanks