All Forum Posts by: David Varvaro

The key is hoping it really dips and we don't just have a soft landing where the market flattens or just has a slower rate of appreciation. It's definitely a good idea to stay liquid but I wouldn't hesitate on pulling the trigger if an opportunity presented itself.

Hi @Jamie Garcia, there's a saying one of my mentors told me about the best time to buy, "The best time to buy real estate was 20 years ago, the next best time to buy is now." It's really hard to time the market and if you try to you can miss out on a lot of opportunities but at the same time you don't want to overpay at or close to the peak of the market.

With that said, you can still find opportunities right now and for someone who is a contractor like yourself you can create solid opportunities by rehabbing MFs. Right now I am seeing a lot of investment groups purchasing large apartment buildings on one end and on the other end a lot of individuals looking for 2-4 unit buildings.  There definitely is an opportunity in between the two since most individuals cannot finance 5+ unit buildings. 

Hi @Theodore Smith III, are you looking to create a lease agreement or are you looking for a tenant?

Hey Joshua, my wife has helped several clients find small boutique hotels and could probably help your friends out. I'll PM you for more details.

Hey @Fred Joaquin I work with investors here in Los Angeles too. I can recommend you several HMLs. I'll PM you.

@Erica Burton There are some ethical questions that come up when an agent wholesales. When you are an agent it is your duty to the client to get the most amount for their property as possible. When you are wholesaling you are trying to get the property at a below market price in order for you to make a profit.  

Although you can legally negotiate to purchase any house you want, a seller can claim you took advantage of them if they find out you ended up selling their house for more than you paid them for it. Obviously, you should never try to purchase a house from someone who called you to list their property.

If you are simply getting your license to have MLS access and sell your own properties, there shouldn't be any problems. But if you are going to be an active agent, you have to be careful that no lines get crossed that could get you into legal trouble. You might want to check with CAR to make sure you are clear on how you approach things.

@Erica Burton Welcome to BP! Sorry to hear about your daughter's illness but it sounds like you have even more motivation to be successful because of it. Did you end up reinstating your CA license? If so, there are some issues with being an agent and wholesaling. If not, you don't have to worry about it. 

@Allen Smith To cash flow, no matter how thin, anywhere in Southern California is a great buy and very hard to find. Downtown Long Beach has a lot of upside and you should see some nice appreciation.

@Allen Smith Welcome to BP and congrats on both your baby and first property! I'm also in the South Bay in Hermosa Beach.  Where did you buy your triplex?

@Ken Cooper I totally agree with @Steve Karp. The South Bay is a strong buy. The demand is extremely high in the beach areas and you are buying in a great location. We used to live on the West Side in Marina del Rey but fell in love with the laid back beach vibe and the tight knit communities of the South Bay. And as you mentioned, found it to be a great place to raise kids because it is one of the few areas in the LA that has great public schools. Many of our clients are moving to the South Bay from the West Side for the very same reasons.

Because you will be living in your property and are moving to RB for these same reasons, I think it's a great investment especially with the forced appreciation. If you were buying it only as an income investment property and were not planning to live there, then you could definitely do better elsewhere but that's not the case. Buying the property you are going to live in is very different than purchasing purely as an investment.

@Ken Cooper