All Forum Posts by: Ciprian L.

@Alex Knights Welcome to BP!

For out of state I would suggest to study the area that you want to invest into and find a good property management and then start looking for properties. The team is more important than the deal. 

Good luck!

I started out of state and now I regret not buying locally first. Nobody cares about you property or tenants the way you do.

The deals are hard to find in LA area but if you are creative and can see the potential where other don't, your returns can be much higher than out of state.

@Maggie Jones I'll be looking in Burbank or Glendale, I don't like rent control and I want to have good schools in the area.

The rental market is very good, we had a "0" day vacancy last year and we were able to get 50% increase in rent, with a weekend to get the unit rent ready (painting and cleaning). We inherited the previous tenant with below market rent. So far no issues at all with the tenants. It's very different when you get to chose them yourself vs an out of state property manager.

@Clay Elliott Welcome to BP!

What type of investment are you looking into?

@Maggie Jones hello :).It took me a while also until I had my first post in the forums.

It's nice to see other local investors, it seams that the majority is looking to invest out of state.

I purchased a duplex in Burbank 2 years ago and looking to buy another multi family in the next year.

Is the fourplex vacant or are you remodeling with the tenants in the units?

@Pei Pinney Welcome to BP!

Good luck with your investing!

I would buy somewhere where I know the market and have a team that I trust.

My main concern would be to not lose my money because I went into a market that some strangers from the internet recommended.

Good luck!

@Wilson Tang Welcome to BP!

What is you long term plan? How much is your current mortgage? Why do you want to buy a new property?

The prices are high in Los Angeles, but in 30 years they will be higher. If you plan to buy a property and sell it in the next 5 years anything could happen.

Did you think about buying a 2-4 unit and live in one of the units? Maybe sell the condo if it doesn't make sens to rent it out.

@Greg Rutkowski, for your property to meet the 2% rule, it should rent for $5,300 a month.

@J Ferri Welcome to BP!