All Forum Posts by: Cody Charnell

It's really important to keep an eye on this. There are several local landlord groups that are fighting prop 10. The two that I work with are the "Apartment Owners Association" and  "Better Housing for Long Beach." It's very important to stay involved. A tenant advocacy group tried to collect signatures in Long Beach, CA to get a rent control ordinance on the ballot in November. The grass roots group "Better Housing for Long Beach" was able to block the signature gatherers and keep the ordinance off the ballot. In Long Beach the city council is unanimously opposed to rent control and has made that very clear at city council meetings. Although the majority of the city is renters the vast majority of people who actually vote are property owners. If Costa Hawkins is repealed the rent control fight will get much more intense at the city level. 

Have you considered purchasing a property purely for investment and continuing to rent in San Diego? I was faced with a similar situation. Property prices in the area were I was renting were way out of my range, but  I found that I could invest in a small multifamily property in a less desirable neighborhoods and still participate in the real estate market. The less desirable neighborhoods offered better cash flow and I was able to purchase a small triplex where the rents covered all the expenses and mortgage payment. The property was still in a very dense metro area where property appreciates well over time and where there is very low vacancy. I have been able to participate in the real estate market for the last two years and I have benefitted from a decent amount of appreciation, tax benefits, and tenants paying down my mortgage. These returns made me feel a lot better about renting and "throwing away" my money. In my opinion it's much easier to make the multifamily properties pencil out in southern CA. 

Build Up Your Portfolio: How to Write an Investment Plan

Ready to scale your portfolio? Looking for your next investment move?

If you are looking to add to and grow your existing real estate investment portfolio, you will not want to miss this month’s subgroup meeting. Our guest speaker, Anthony Walker, will be teaching investors how to structure a business plan to scale your business to the size you desire! That’s right…the first step to reaching your goals is knowing where you are headed. The second step is taking action and following your blueprint!

If you are a newer investor or looking to grow, now is a TERRIFIC time to scale your portfolio. Join us to learn exactly how you make some strategic additions to your portfolio in the next 12 months!

This is an educational Meetup so please bring your questions!

Please RSVP at Meetup.com: 

https://www.meetup.com/Long-Beach-Investing-Meetup...

Hey Kevin, 

I am a real estate broker in Long Beach CA. If you are willing to cooperate with a buyers agent i would love to try to put a deal together with you. I am happy ro sign an nda and have any of my clients do the same. Also, have you tried cold calling owners or sending postcards with limited info about the property to generate some calls?

Hi Bryan, my brokerage does a quarterly market study for South Bay cities and Long Beach. We go through all closed multifamily sales at the end of every quarter and compile the data into a spreadsheet. The spreadsheet breaks down to city, neighborhood, and individual property level detail. You can use the info to get an idea of what cap rates are like in different areas and and  determine whether the property you are looking at is a good deal or not. It's something that we put together and provide to our clients for free. I can email you the excel file if you are interested. 

Hi Francisco, 

I am a multifamily realtor in Long Beach. I am a member of a real estate networking group called LA South REIA. Here is a link to the meetup page:

http://www.meetup.com/LASouthREIA/

There are tons of wholesalers who visit our group. Definitely worth checking out. 

Hey David, first off I have to say I have never done wholesaling personally. However, I think that when Gurus start selling get rich quick guides and going on speaking circuits some red flags should go up.

If they were able to make tens of thousands of dollars per deal why wouldn't they be out in the market doing it themselves? Instead these guys are training people to compete with them for deals. It must mean that the market is so saturated with competition that there is more money to be made selling books and speaking at events. Just my opinion anyway.

@Mark Bommarito Hey Mark, Welcome to BP!

Making $140,000 a year by investing in real estate is realistic, but will depend a lot on your time frame and how much your are willing to invest. Flipping houses can put money in your pocket in the short run but you have to be very aggressive an knowledgeable to pull off a flip. In my opinion flipping houses is more of a day job then an investment strategy for most people. If your aren't in a hurry to retire I would consider a long term buy and hold strategy.

Hey Roman, it sounds like you are over looking one of the big BIG benefits of investing in LA. Leveraged Appreciation. If you are able to give up a little bit of cash flow, investing in an area with a solid appreciation rate will leave you much better off in the long run. Let me know if you want help crunching the numbers, it's what I do all day.