All Forum Posts by: Alex C.

BiggerPockets members, 

I'm interested in fix n flip properties that you come by in San Fernando Valley, specifically the northeast part. North Hollywood, Van Nuys, Panorama City, North Hills, Sun Valley, Arleta, Pacoima, Sylmar and San Fernando.  I know the area extremely well so I can identify hidden value at times. Open to other surrounding areas too. I analyze deals fast and strive to explore all possibilities on how to make the deal work. Any questions about these neighborhoods please feel free to comment or send me a PM. 

Thanks!

@Conor Murphy

I have some concerns about your financing, I have an extensive background in mortgage lending and I haven't heard of an interest only 90% LTV condo loan @4% rate. Are you certain of this loan option going through? Please do extra due diligence into the lender promising this type of loan, it's not easy especially given the type of work you do is not W2 standard salaried type of income. I do like that you'll have plenty of reserves after closing for emergencies like having to evict although knowing the type of tenants on the Westside are less likely to be problems then B and C neighborhoods and work you still have to do. $2900 might actually still be a good deal from their eyes but use discretion inheriting tenants using has it's challenges. I know Brentwood and hopefully the unit is a decent square footage (1200+ or more) so I have no problems with the purchase price. Also if you decide to move in or not and the tenants move out as planned, you can definitely gross 2500 per room on Airbnb or close to 5500 gross. I've successfully been making money on Airbnb platform on properties I own and don't own for 3 years now in the LA market. Good luck Conor.

@Jonathan A. 

I agree with consulting with an attorney right away. California is very renter friendly so you have a fight in front of you but 45-75k relocation is in my opinion not accurate. However, it could get to 10k per unit so it's wise to seek professional help on this matter asap. Good luck. 

@Hasam Ashraf 

Sam,

We just spoke over the phone so please get back to me about the tenant question I had. You can reach me direct at 818-401-7818 or my office line that I called from. Thanks! 

Hi Brandon, 

I'm interested in getting more info on this deal. Call me or text me at 818-401-7818 when you have a moment. Thanks. 

@Evan P. 

Would be interested in looking at this deal champ! Send me a private message or contact me at 818-401-7818 to discuss. 

I know this area very well and have done deals in that zip code before.