All Forum Posts by: Frederick William

 Do you think this applies in 2024 as well? I been looking at multi-family and want to do the owner-occupant route but I am wondering if prices will stabilize for the next 3-5 years and not go up at all since prices have run up 30-40% in Los Angeles area. Then with no cash flow and no immediate appreciation, and on top of that rent control is this a good time to get in? 

Hello All,

I've been lurking here for a few months now, mostly saving, reading, and absorbing. I finally have some cash to start investing, but the problem is every property I analyze in the area does not cash flow at all. How do these sellers expect to sell a negative cash flowing property to an investor? Are these signs we're in a bubble here?

The original game plan was to purchase the MFR, live in 1 of the units for a few years and rent out the remaining units. I don't necessarily expect to cash flow while I'm IN the property. But if i were to move out in the next 2-3 years, I expect it to cash flow then. So I've been analyzing each deal as if I'm not going to live in it.

Should i give up my MFR idea here in Los Angeles (Preferably Culver City, Marina Del Rey, Van Nuys) really any decent area of LA north of the 105 and west of the 110 and look out of state instead?

How does one pick a market when investing out of state? I'd like to be relatively close by, How does one pick between WA (Washington), OR (Oregon) , AZ (Arizona), NV (Nevada)?

Thanks in advance!

Hey @Frederick William - Thankfully we don't use a whole lot of stucco here in Chicago, but I have worked with it quite a bit in my past life.

As someone mentioned above, likely the horizontal cracks are likely structural...I'd like to see if you can visually see any cracks on the inside...also on the interior of the house look for any windows or doors out of alignment or general cracks in the drywall, these will indicate longer-term structural movement.

If you just see it flacking that is just the stucco repair...chip away the flacking to see how deep the cracks go.

Quote from @Frederick William:

Hillside property. Are these signs of foundation problems or just stucco repair. If so, how much will this stucco repair cost?

Hillside property. Are these signs of foundation problems or just stucco repair. If so, how much will this stucco repair cost? 

 Theres alot going on there, stucco shouldn't be in contact with with ground, stemwall should be visible. Possible water intrusion, earth movement etc. Get a foundation expert out there. Use your favorite search engine & do some preliminary education so you can understand more. Don't seek out the cheapest contractor, find the best contractor.

Quote from @Frederick William:

Hillside property. Are these signs of foundation problems or just stucco repair. If so, how much will this stucco repair cost?

Hillside property. Are these signs of foundation problems or just stucco repair. If so, how much will this stucco repair cost? 

 Theres alot going on there, stucco shouldn't be in contact with with ground, stemwall should be visible. Possible water intrusion, earth movement etc. Get a foundation expert out there. Use your favorite search engine & do some preliminary education so you can understand more. Don't seek out the cheapest contractor, find the best contractor.

@Frederick William, generally I would say the long horizontal cracking is foundation.  I am referencing the horizontal crack that can be seen on the corner along two walls of building.

If it were me, I would call a couple foundation companies to confirm.  

The listing at 155 N. Edgemont Street expired unsold in September 2017.