All Forum Posts by: Clarke Cuthbert

Thanks for asking Josh because I hadn't even considered that.  I honestly don't know so I guess I have a little research to do first. I assumed that I would just ask him how much he paid to renovate it and figure out a price that worked for both of us.  If not, would I get an appraisal?

Two roommates and I are currently renting a small 2 br house for 1650 a month in Sun Valley.  We found the rental almost immediately after the owner bought it (according to zillow, for $230,000 with all cash in 03/14) and have been here a little more than a year.  He collected our rent for the first month of the second year but hasn't written a new lease yet.  

I am wondering if a lease option might be reasonable for me to ask about?  If so, would it make sense to try and sublet it, continue renting along with my two roommates, or try to improve it and either give other tenants a lease option (lease option "sandwich" described in Brandon's book) or exercise the option and sell when the time comes.  

Even though he was trying to rent for $1500 before we moved in and agreed to pay $1650 (because of my dogs), I feel that it might rent for more, being in Los Angeles.  Especially if I were able to fix it up a little.  He made it just nice enough to live in, but there are definitely opportunities to improve the property.  Is anyone familiar with lease options and/or the San Fernando valley market?  I want to begin to get involved in real estate investing but only if there is potential to profit for everyone.  

I'll be there 

I have two pit bulls and a german shepherd and as you all can probably imagine, I had a hard time finding someone who would rent to my roommates and me.  We did find a place and are paying $150 more per month than what he was originally asking.  I am a responsible pet owner and am relatively certain that my dogs have not caused anything close to $1800 worth of damage in the year we've lived here.  Part of my motivation for investing in rental properties is the ability to allow good pet owners with potentially dangerous breeds to find housing.  I certainly understand that some breeds are more likely to damage property than others, but the fact is that the behavior of dogs is almost completely dependent upon how they are raised and treated by their owners.  As a landlord I would obviously require the owner to let me meet and spend some time with the dogs and to have some kind of renters insurance to protect me from potential mistakes (regardless of the breed).  Like Michele mentioned, I feel that this could be a good niche marketing strategy if I charge and extra premium, considering the very small percentage of owners/property managers I came across in my rental search that allowed these breeds.  Is this completely unreasonable?  If anyone has successfully and consistently rented to owners of pit bulls, rottweilers, german shepherds, etc, please share.  I refuse to believe at this point that it is not possible, but I do understand there is risk involved and that "aggressive breed" dogs who are not well trained can be destructive and dangerous. 

I will be there, thanks

Thanks Nikki, it looks like there is free information on LA county properties!  I have definitely started to keep an eye out for potential investments.  This has been the most useful discussion I've encountered since joining the site and I appreciate everyone who is sharing this information.

I joined the site the same day as this meeting happened and was unaware until afterwards.  I am new to LA and to real estate investing education and I would love to come if you all plan on meeting again. Thanks!

Thanks Brandon!  I enjoy your podcasts and look forward to learning as much as I can every day.

Great post Ron.  As a new member I am eager to get started and try to make deals, but I realize that I do not have nearly enough knowledge to actually go out and do anything yet.  For now I am happy to be able to learn from all of you and eager to keep reading.

I am 25 and brand new to the idea of real estate investing.  I barely know where to start but am encouraged that there are so many others close to my age that have been able to successfully invest.  As I am in Los Angeles, I am open to the possibility of investing out of state.  Similar to Carlos, I plan to eventually buy and hold rental properties, but am open to the possibility of flipping or wholesaling to build enough cash to make this more realistic.  Nikki, I like the idea of "driving for dollars" because my current job requires me to drive around all day.  Where would you go to find information about the addresses you list?