All Forum Posts by: David Manshoory

Yes, of course! If you check out www.assetavenue.com, you will be able to apply online and get pre-qualified in 2 minutes. Let me know if you have any questions!

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@David Greene thanks for the compliment. And thank you for offering to share your contacts. I'm not looking to buy now, but was simply interested to see how other investors source their deals. I spoke to one investor the other day who lives in San Francisco who has purchased 100+ properties out-of-state in one east coast market over the last 3 years - all site unseen - through Auction.com and Hubzu.com. I was wondering if your method was similar.

Thanks for the reply!

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Originally posted by @David Greene:

@Lance Knapp

Hi Lance,

I too live in CA and haven't bought here since 2012 or so. Overall, it's wise to follow Warren Buffet's advice "be greedy when other's are fearful and fearful when other's are greedy".

LA has ridiculously low cap rates and is very competitive. That tells me a lot of people see it as a low risk environment and are parking money there. I, for one, do not want to follow the herd. I want to get out in front of the herd so I can have the best area staked out then sell it to them when they all arrive.

For most investors, right now is too late to be getting in in LA. The time for that was when everyone else was crying the sky is falling and wouldn't touch real estate. There are several other markets with much more attractive numbers and upsides I am looking in and I think it sounds like you would prefer.

Here is something to think about. The pro's of living in and investing in CA. Pro-we make a high wage here. Con-property is expensive and hard to buy for cash flow. Why not maximize the Pro (living and working here) and minimize the con by investing somewhere with more favorable rent to purchase price ratio's? Technology has caught up to the point where investing out of state is so much easier than you'd believe. I own 9 out of state rentals I've never seen and plan to buy 17 more this year.

Don't follow the herd. Buy in areas you believe jobs, people, and demand is flocking TO. Wait for the next crash then buy in LA when everyone else is talking about the american economy never recovering.

@david greene what sites do you use to buy your out-of-state properties? And what markets do you focus on? Curious to hear your thoughts on this! Thx.

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Hi there! Just want to reach out and introduce myself. I'm the Co-Founder of a national hard money lender for fix & flip properties and rental properties. I'm thrilled to personally get more involved here. I've had a profile on BP for over one year but am just starting to make more time to reach out to the community and make myself more accessible for those that might need advice, feedback, etc or simply want to connect. Feel free to reach out if I can ever be of any help! Looking forward to connecting with you.

Best,
David

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AdaPia, thanks for the kind remarks. And Huy, it was great chatting with you the other day. Feel free to get back in touch if you have any questions! Happy to get you started whenever you're ready.

Best,

David

2 Votes

All Forum Posts by: David Manshoory

David Manshoory has started 1 posts and replied 6 times.

Post: Asset Avenue -- Reviews? Anyone used them for financing?

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Post: Is Now a Good Time To Invest? (First Time Buyer in LA, CA)

Post: Is Now a Good Time To Invest? (First Time Buyer in LA, CA)

Post: Hard money lender for fix & flip properties (43 states)

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