All Forum Posts by: Andy Cross

I live in Inglewood as well. I feel the market has gotten way too expensive. Even the motivated sellers know Inglewood is a hot market. If I happen to run across something worth buying, definitely getting it!!

Definitely following this thread.

I’d like to hear thoughts of investors in this area. 

@Wiley Strahan, @Tyler Hungerford Prop 10...definitely want to hear more thoughts on this. 

Hey @Wiley Strahan...in my humble opinion, the LA area shifted drastically as soon as the first shovel hit the dirt at the corner of Prairie Ave and Century Blvd. 

Following this post to read the opinions of others. 

@Jo-Ann Lapin

Exactly...very tricky. Very limited resources to this end.

Hey @Gerrell King , I say go for it. Again, as long as you can get there in a reasonable amount of time. Or, if you have contacts outside of LA County that you can JV with, they can help you with those leads as well.

I'd consider San Bernardino and Riverside Counties if I knew about those areas. I choose to stick with markets I know about. I'm even considering Chicago; a lot of activity happening out there.

Hey @Gerrell King , have you run the numbers through any of the BP calculators? It might provide insight on what you really should offer. 

I feel, working with savvy investors can be tricky for those of us that are new. Your seller has pretty specific criteria for what they want. So, you have to really be in tune with what you want, and try to make it a win-win for both of you.

If that's not possible...then the seller will need to sit with it for another 90 days, or until they are willing to bend a little bit to get it sold.

Thoughts?

We've got a lead in a rural area of Southern California; north of LA. This lead has potential to be a fix/flip or a rental.

However, there is only ONE comparable within the last 3-6 months. All the other properties that were recently sold were built 30-40 years later, and are all rehabs.

I feel I cannot determine value just off this one comp.

I've spoken to realtors in the area, and they all have sent me the same list of comps; thanks, but I pulled this same list from Redfin.

How do I make an offer with only one comp and no budget to consult with an appraiser? 

Hey Gerrel,

Yea...LA is not the best place to get started (IMO...some would say it doesn't matter the market...but it does). With the new stadiums and the looming Olympics...this market, to me, is for those with capital, and lots of it.

I live in the LA area, however, I focus my attention on the Antelope Vally (Palmdale and Lancaster to be exact). Far enough away to find deals, but close enough to set appointments and get to them within an hour and a half (if you can get away from your FT job). 

Definitely get the cards (you cannot network without them), and the website (if only a single-page landing page). To those that say you should only focus your time on finding deals, those two items can be produced in a day. There are 6 other days in the week for lead generation.

I'm going to follow this post to see what others say. 

Originally posted by @Gerrell King:

Hi everyone, I'm been pulling my hair out (not literally) trying to figure out where to get started with building my business.  I'm based in Los Angeles and originally from Bakersfield, which I visit often.  

My biggest problem right now is choosing a market and being able to afford marketing costs.  I've been researching what to do and hear so many different things.  Some say get a website and business cards, others say don't waste your time on websites and cards and focus on finding deals.

From what I've heard, direct mail is the best way to find deals but even that approach can be pretty expensive here in LA since it takes months and a massive volume to get the phone ringing.

I've considered marketing in Bakersfield but if I do, I've been told I'll need to be able to drive there asap if I book an appointment, and that isn't always possible being that I work full-time.  

I'm ready to get started but don't want to spend my time doing the wrong things and wasting money.  

I have a budget of $500/mo.  Anyone in LA have advice or input on what's working for them?

Inglewood...hands down! I live in this area. When I first moved into this area a year and a half ago, 1br apartments were going for around $1300, now they are trending upwards of $1500-1600; and there’s only a hole in the ground over on Prairie and Century.