All Forum Posts by: Charles Renn

Hi @Steve Adler, great question and I like your goal here too. Straight and simple to reach your goal of $4k cash flow should be as many doors as $250k can get you. Roughly $825k of properties is what you can afford including closing costs and fees. Hope this helps!

Hi @Bryan Berrios, you have some good feedback here already, but my additional advice is to look into the eviction/tenant/rent control laws in the city, county, and state prior to your purchase. You don't have to seek an attorney's professional opinion, but they becomes an essential piece to your team moving forward the larger your portfolio gets. Hope this helps!

Hi @Luther A.,

Thanks for the post! You have some good direction here already, but simply, you shouldn't have a problem finding market rent along the coast. Regarding eviction, the current moratorium makes it very challenging for non-paying renters. Google CA moratorium, LA county moratorium. This won't last forever, but hard to say when it is lifted. @Will Barnard has great advice in looking into San Pedro. You can find properties with ARV potential, and watch the appreciation grow in the next 5-10 years.

Hope this helps!

Hi @Tyler Craig, welcome to Bigger Pockets! I have a meetup event scheduled with our real estate team leader and Bigger Pockets podcast host @David Greene. If you'd like to be added to the waitlist for tickets, direct message me and I'll send you more details. You can expect to me a network of investors, agents, and like minded people :)

Hope this helps!

Hi @Saemi Jung, great questions! There are a few things I'd like to add. Finding the right agent depends on your goals. A few questions to ask would be: How many deals you and your team have closed in the last 3 months? What types of clients do you work with? Investors, Residential, House hackers, Multi-unit? How do you analyze a deal? 

The team I'm on has agents in positioned in most of the markets in SoCal to best serve our clients. If you'd like to know more, feel free to ask here.

Hope this helps!

Hi @Josh Yamada and @Natanya Vidales,

You've got a lot of good advice in this thread already, but here are my two cents. If you don't currently own your residence, I'd recommend considering a duplex to house hack. If you don't want to live in Barstow there are other parts of SoCal, maybe closer to where you are familiar, that can be a great starter to your portfolio. Even if you do currently own your residence, Riverside and San Bernardino county have options for cash flowing multi-family properties.

Let me know if I can provide further value and insight.

Hope this helps!

Hi @Nick Henry, welcome to the BP family! You've got a lot of great advice here. Working with a lot of SoCal multi-family investors, there are pockets here that fit your price point for a house hack. Since you have a year to save up and learn, you'll be on the right track in no time, but my 1 piece of advice would be to own your residence/house hack, then start building your empire. 

Let me know if I can be of more value.

Hope this helps!

Hi @Sara Booth, your post from a month ago just crossed my path. There is a lot of good information here, and I tried to skim all the comments, but didn't see any advice on starting your investment search here in Los Angeles. My first question is, do you own your place of residence currently? If not, $100,000 can get you started here in Los Angeles. If you currently own your residence, $100,000 can get you into an investment or "2nd home." 

Don't get my wrong, I'm also on board with investing in Ohio, but while CA and LA might be hard to cash flow in the beginning, you'll see greater appreciation than in other states in the long run.

Hope this helps!

Hi @Stephanie Gomez Cook, congrats on getting into the game. You have a lot of great advice here. My two cents are to be sure your financials are in order. 

Are you paying cash or financing?

If you're financing, make sure that the property meets the requirements of the program you're in. We save a lot of our clients time by crunching numbers up front to make the the property is a deal. Our in house lender is also investor friendly and very knowledgeable on which loan programs work best.

Feel free to reach out if you'd like further details.

Hope this helps!

Hi @Account Closed, thanks for sharing your situation and interest in investing the LA market. It's great you have support from your family not only in finance but experience. Let me start by saying that investing in SoCal has many benefits, and also some drawbacks. 

First, appreciation is better here than most places in the US. You'll find that the cheap money (low interest rates) today will pay off in just a few years when you wealth in invested in real estate that grows about 8% annually, about double inflation. 

Second, Los Angeles is your home. Having an investment close to home means you can manage it directly or even live in one of the units, aka househack. My clients find this to be the best option since you can qualify for a low down payment and use your cash to rehab or save for your next property. After 1 year, you can move out, rent your unit, and use the money in the bank to find your next property.

Now some drawbacks. Due to high property prices, it's hard to cash flow from the beginning. It's not impossible though. Tenant laws are strict in CA as well. However, the moratorium is about to end Oct. 1st, and if you househack you might be able to evict at least one tenant for your own living space.

I hope this helps [Solicitation Removed by Moderators]