All Forum Posts by: Adolph Witherspoon Jr

@David A. Totally agree. Growing up in the burbs of Chicago, had a dream to live downtown, be around that city energy and get it out of my system while there in LA. It was a great run until Covid hit and that has sped my timeline up to return to owning (and look into REI'ing) immensely. I can check that "downtown experience" off my list now for sure and find my happy medium, that I OWN and hopefully figure out how to REI myself out of the corporate rat race one day.

@Jon Schwartz what invaluable information! Thank you VERY MUCH and as someone who is a semi-beginner (to conscious REI'ing) and perhaps starting a little later in life then some, I appreciate your detailed input and it makes me feel good to know that my instincts weren't too far off, i.e. get something to live in and force appreciation. And to your point/past experience, I would also be breaking my lease for this change but well worth it for sanity, sleep and equity (in my eyes).

My office is downtown but I likely won’t have to go there often at all, ie once or twice a year perhaps. If anything will have to make frequent trips to NorCal for work (via air).

I’ve been looking at SFRs mainly (and multi-fams very lightly) in El sereno, montecito heights and Whittier (hills) for views; NoHo, Lake Balboa and Van Nuys for the pools (“southern” area hear freeways and Ventura Blvd, to be near or adjacent to energy/people and not too alone/isolated), signal hill (non-cookie cutter homes) a little, for views and ocean. Ok...and I know I’m scattered, but very lightly looked in Palm Springs area for future vaca rental possibilities after living there and doubt the mentioned forced appreciation.

Ultimately I want to get back in the game and mit be house poor like I was when I was in my first home for 12 years (that I sold last year)...but... to your point, between multi or SFR with ADUs, there are ways around that too.

Hi All, hoping for your directional feedback here.

Early 40s, single/live alone, employed in technology, work from home, no debt aside from auto-loan. Sold my first personal home a year ago and moved into a luxury rental high rise temporarily while I determine my next move.

Currently - I’m losing my mind here with the smaller apt space (although gorgeous view) and more so the loud and rambunctious neighbors keeping me up some nights when I work in a very busy industry and need rest and safe outside space, which Dtla is a bit more unsafe during Covid.

Question(s):

I’d like to get back into the homeownership game so I’m not continuing to pay high rent and have nothing to speak for it - also, to have more space (ie spare room for home office and guest room, yard, etc...), BUT I’d also like to get into Realestate investing “soon”.

Should I focus on buying a home that’s a light fixer , so I can live in it and Reno to gain equity (and make it somewhat a long term flip or future rental property), THEN find an investment property, ie - mental health/sanity first...?

....or do I suck it up, stay a renter And dive into the investment property space to build a portfolio...?

@Nathan Yee - did you find a good reno loan lender? If so who and how did things work out? Which product did you leverage in the end. Considering the same.

@Victor Ong thank you the insight! One question please: Item 2 - "downward pressure on SFR/MFR". can you please clarify what that means?

Looking for advice in whether it makes sense to jump back into the LA RE market via either

1) nicely priced SFR in a borderline up and coming area that is hillside with a nice view, then reassessing in a year or two seeing where the equity is - or -

2) seek out a MFR to begin building the RE portfolio...factoring in that "profitable" MFRs in LA seem non-existent right now given prices - at least for anything 2-4 units under $1M.