All Forum Posts by: Account Closed

I'm German shepherd owner and dog lover.  That said I would not allow a pit bull in my rental.  As others have stated this is probably not a true sevice animal but a pet the tenant is trying to sneak in.  2 weeks ago I witnessed 2 pit bulls that escaped their front yard, go after a small dog, and try to bite the dog to death.  Lucky enough the dog owner was home and him and other neighbors worked as a group to grab the pit.  Even my dog can be aggressive -it's in their nature.  

@Joshua Miller

There have been numerous threads on in state vs oos investing.  I suggest you do some research looking up previous threads and a lot of the risks will be outlined.

Good luck 

@Josh Miller

I don't invest out of state due to the risks involved.  You are now at the mercy of people who are trying to sell you something and may or may not have your best interest in mind.  I can't advise you as I don't know what your end goals are. However here are some suggestions:

Partner with an experienced flipper where you provide some of the money and they teach you what they know.

Buy a duplex or sfr and house hack

Buy a duplex/sfr in a lower priced area (inland empire high desert) and rent it out.

Good luck 

@Michael Swan

I am a bp member that gets a lot of value from @David Faulkner.  I try to read his posts when I get on this site.  Although I get your enthusiasm,  it seems like your motivation is to sell something or find investors.  I am a professional sales rep so I respect the profession.  That said when you have to put others down or try to discredit them when they disagree with you,  it's a way to lose credibility quickly.  There are many ways of making money in real estate and in all markets.  One thing that is universal However is that there should be no emotion in business.  And from your posts and consistent bragging it seems ego and pride are getting the best of you.  

And if you must know my holdings (so you put me down of course & feel superior) I own no apt buildings.  I have 2 properties I am flipping in Los Angeles.

Good luck in your investing.

@Mia Edgar

I'm not sure about San Diego but outside Los Angeles there's a possum rescue.

I knew he is trying to sell something.  I question if he even owns any property.  People on this and other threads have asked him for proof of his holdings and he keeps dodging the question.  I don't know if he's trying to sell property in Maryland, his website or what.  But yeah he's a troll.

@Account Closed

It seems like your point is to antagonize and debate for the sake of debating.  Your tremendous ego shows through.  You consistently attempt to both insult and ridicule people who offer an opinion that differs from yours.  The funny thing is most of the people responding are Los Angeles residents who invest in real estate locally and you are trying to convince us how bad the market is.  I don't what your ultimate point is...are you trying to sell something say invest in Maryland so you can benefit from the transaction?  

What I am sharing with you is my opinion sure... but it's not anecdotal.  I invest locally.  I currently am working on 2 houses one for $1MM and one for  $2.7MM on a forced appreciation play.  You're welcome to agree with me or not it makes no difference.  You can run your statistics while I run to the bank.

Good luck with you real estate investing. 

With respect to the top employment I think we are missing a huge point.  Los Angeles (as with other big cities) draws buyers from around the world.  Foreign nationals will purchase property in order to hold their money in a blue chip investment.  They view it as less risky than their own backyard for a number of factors.  With respect with 28% to 30% of people paying cash-given the average home price is higher than the U.S. average it speaks volumes.  This why you see an uncoupling of wage earners and home sales.  The trend of Los Angeles as someone else mentioned is the lower wage earners are leaving the city as higher wage earners are entering.  

As for "prime locations" worsening- I have yet to witness this.  Instead areas that were considered crime ridden have gentrified to the point that houses are now $1MM and above (Venice echo park silver lake).

@John Thedford

Thank you for this post.  Curious if you only lend in first position?  Do you do gap funding, equity or second liens?  Why or why not.  I currently am lending in first position but as an equity position.  My returns vary from 10% to 30%.  Given the high cost of property in Los Angeles I find it hard to lend in first position.  There are plenty of opportunities for gap funding or 2nd liens, however if something blows up I don't have the funds to step in and pay off the first.  Thus far I've stayed away from this, however the returns look great. 

@Account Closed

You seem to have a fascination with Los Angeles given your recent posts. Dunno my understanding of Brooklyn is it faces the same problems and opportunities.