All Forum Posts by: Ewa Reza

You need help with 3.5% down payment? You should not be buying then!

Also... if you're taking a line of credit you need 25% equity at least.

Not a bad deal, but not great! I bet you can find something much better than 4.27% ROI. ESPECIALLY in South Central.

I usually help people find 2-4 units with FHA loans and ROI in North East LA can be more like 20% ROI. Obviously with your 25% your numbers will be different but should be THAT much lower.

Walkability is definitely a concern there... But it's a great area to invest in 2-4 units right now.

Even if you have MTM lease you can't change it in Los Angeles rent controlled properties. If its a standard CAR form that your lease is written on, you will have the language about not running a business from the rental unit as well as language about visitors. It can apply to dogs too! Plus I believe in LA you can have only 3 dogs without special license and they have to be neutered. So here you go... at least 3 different ways to tackle this issue.

@Eyal B. I'm not a listing agent. But this is my backyard that I research daily and I've got good contact with the listing agent... I also work with a couple of investors that look more less in this area.

@Josh Prince Why would you get rid of tenants? These rents are not far off from market value. $200K+, ha? I don't think it's gonna go that far up. These are extremely small units. 

Nonetheless it's a great property. My heart is bleeding I can't buy it myself right now :(

If you don't have an agent I have a good one for you by Elysian Park (Silver Lake in Los Angeles area). My client is hesitating to pull the trigger on it (more for legal reasons at the moment) but it's a great deal that just came out on the market yesterday. 4plex under $700K. You can do FHA on it with 3.5% down and it will still cash flow. I'll be putting details of it later today on my blog... But you ca PM me anytime.

I do these sometimes myself @Aaron Norris 

But I wouldn't do this for every client. It takes a lot of work to close deal like that and if it's a high maintenance client, I wouldn't bother.

@Aaron Norris no down option has been available forever...  It's called seller and lender credit :) You just need an agent and loan officer who know what they're doing.

The new construction on San Fernando Rd definitely will help to get the prices up. Two years ago there was nothing but the "industrial feel". AND they finally fixed majority of pot holes. No need to slow down to 30miles per hr to get home anymore...

Sure you can get a RE license. You can pick up a gen. contractor license just as well haha If you want to do it ALL, you can. I know I don't have time for that. So even though I myself am a Realtor (and I even work with clients), I hire an agent if I'm looking for something specific. Right now, I employed a Realtor to sell my property (more for legal reason than anything else) and I work with agents outside CA to find me what I need :)