All Forum Posts by: Eyal B.

I'm going to try and make it as well.

Welcome. I grew up out near your side in Calabasas. What kind of work were you doing with the REIT?

Thanks @Sean Hurwitz, appreciate the compliment, though I'm probably about 100 deals shy of being considered a master. That said, I do have experience and would be happy to jump on a call with you @Mike E. to answer any questions and point you in the right direction. I will warn you though, I don't know your markets well, and I wouldn't exactly call what I do passive.

Sure! connect with me on BP and we can setup either a call, lunch, or drinks. 

I didn't mean that to be discouraging, as there is money to be made in LA. You just have to put the work and the hustle into securing the deal, renovating, relocating tenants, and renting higher. If done right, you'll cash flow well and force appreciation. I love the LA market for the opportunities I do manage to put together. 

If you are looking for a passive investment where you simply just write a check, hire a PM and cash flow, LA is not the market.

Hi Ewa,

Is this your listing? If so, call me back! ;) I'm pretty sure I called on the listing you are referring yesterday when it hit and wasn't able to get a hold of listing agent yet.

Mario, 

Like you're seeing here, LA is very competitive. If Ewa and I are talking about the same property, I'd imagine that it has multiple offers already. You should look at what you can add value to, as buying turn key market deals in LA isn't going to cashflow well at all. You can do deals in LA, you just have to get creative on how to add value to them, hustle, and fight tooth and nail to get them.

Daniel, 

He is likely talking about Frog Town. Definitely an interesting location if you want to get in cheap and early, but by no means as stable as Silver Lake.

If you are considering spending the kind of cash, time and work adding another story to a 7 unit building would require, you might just look at redeveloping SFR's in areas like the Melrose village. Tons of money and work needed, but investors are killing it right now. (buying for 1m - 1.2m, spending 800k - 1m to build, and selling for 2.6m - 3m) You also wont have to relocate 7 tenants by paying a ton on rent controlled apartments.

Hi Daniel,

R3 shows as no story limit, but there are definitely height restrictions for R3 in LA. They are typically 45 feet, unless they area has some exceptions (which are usually give or take 10 feet) You'll also want to check if the land size and parking requirements will allow you to add more units in R3.

You can research the answers to these questions by referencing this doc: http://planning.lacity.org/Forms_Procedures/7150.pdf

Hi @Robert Starnes, first off great to see a fellow pilot!

Your numbers are far off. 

While I won't go into what my numbers are, I will remind you that the building grosses $140K annually. With all actual annual expenses, I get to around break even numbers with 2 units vacant. For Los Angeles cash flow, I am thrilled with the asset's performance.

Thanks @Javier Marchena I tried updating the post, but BP didnt format the links well, so here they are again:

Updated dropbox links: 

Before: https://www.dropbox.com/sh/u864iqqjl6gm5fm/AABNuV-...

After: https://www.dropbox.com/sh/7l7l4cirzhzuj2j/AAAiq5Y...

Thanks @AJ S.. The showers are lined with the same 12x24 tile I used on the floors in the bathroom.