Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Brooke Taylor

Brooke Taylor has started 3 posts and replied 3 times.

I was born and raised in LA and it has been truly disheartening to see that I will probably never be able to afford any property here unless I want to risk getting shot in the middle of the night. It's not even really possible to find a fixer or anything that would reduce the cost of a house. Most of the time the "fixers" are listed at about the same as market price. Will there ever be a real estate market downturn in this market (LA)? I am only 23 so I wasn't able to snatch up property during the last crash, but I have been saving money like crazy and have been thinking the only way for me to be able to do this is to put my whole savings in some crazy investments that would somehow magically give me a 1000% return. 

I found an apartment building that techinically is 4 units so it is classed residential but it needs to be gutted so I can really turn it into 7 smaller apartments. Would I need to refinance the mortgage or do I just need to be concerned with zoning and permits? 

Okay so I am looking to buy a piece of property that is far below 1 Million dollars (need about 50,000 on a property worth 281,000) . I can't qualify for FHA because it is under 1 million dollars and I cannot get a conventional loan because this building is over 5 units (apartment building) . Do I have any actual options here?