All Forum Posts by: Ewa Reza

@Aaron Norris how to qualify for SFR new construction loan? What's the process and requirements?

I apologize I didn't respond to you in time. Ive never got notification email from BP. How did your purchase go? Did you find anything good?

@Tavi Perttula all the areas you mentioned are great but what kind of investment you have in mind and what's your budget? Personally my budget won't let me get into Echo Park market any more. Prices are crazy. Last week I submitted an offer on $499K property and in first week it got 60 offers! Not kidding. 60!!! Beautiful property but still in need of $60K-$70K in rehab.

Highland Park has been hot for a couple of years now. There's still money to make there. But the hot spot moved to Eagle Rock last year.

@Joshua McGinnis I love that map. There's some shock value to it. And it's interesting. But we need to remember these are starts from MLS showing average sale prices, not necessarily appreciation. It just shows how crazy this market has become. LA investors gotta hustle a lot to make things happen here. And I don't know about you but I'm starting to look for other options outside LA county...

@Jeffrey Brumagin you gotta get out more! Downtown is not that sketchy as it was 5-6 years ago. Have you seen the latest crime maps of the DTLA and surrounding areas? Apart of Westlake and Korea Town this is prime area for investing (either flip or buy and hold, not living tho, at least not for me). I lived in DTLA for couple of years till I moved to North East LA. Got a triplex there and that was the best decision I made in years. By no means it cash flows! But that's LA living. @Frederick Sutton you want a cash flow go to South Central. You want to live on the property and have a small sound investment (appreciation and smaller bills than renting) go for NE LA as I did. I bought a triplex less than a year ago in Cypress/Glassel Park areas.If I wasn't a Realtor I would overlook this deal simply because for a non real estate person the numbers would not work. I'm renting 2 units for "above market value" and live in one. I'm paying pretty much the same as I would be paying rent to somebody else. BUT $748 goes to my equity every month AND acoring to MLS statistics average sales price in my area got up 19% from 1st quarter of 2013 to 1st quarter of 2014.

Contact me via email if this scenario sounds appealing. I can't help you out, find and evaluate a deal for you. I also have a great lender on my team who can make tricky 3-4 unit deals smoother.

Sounds like a good plan. Keep us updated! :)

@Account Closed If you'd like to stick to one property to gain confidence and learn the ropes that's not a bad idea. BUT I would still finance it. And take the rest of cash and invest somewhere else. The cost of borrowed money will be much less than your returns from the other investments. It's not hard these days to make 10%+ on return simply by lending your cash to private investors. That would give you not only higher returns but also more flexibility.

@Albert Bui thanks for the response. I completely understand! And I don't blame them! But I figured that instead of buying $50K property cash I need to leverage and hopefully buy 5 properties instead :)

I used my title rep for 2 years and now he's so popular it's harder and harder to reach him. I'm looking for a new title person who can get me the info I need, lists etc without waiting for days each time...

Thanks Shaun! I'll reach out by email.

That would be 2hr drive from LA. Bought with 20% down.