All Forum Posts by: Jennifer S.

@Ned Carey thanks for recommending DealMakers Guide. It looks like many other people on BP have used it, as well. I went to his site and it looks like it hasn't been updated since 2012-2013. Do you know of any new investors that have used it recently and found it useful? I want to make sure it's up-to-date before I make a purchase. 

1. It depends on how the kitchen looks right now. I just renovated a kitchen and kept the original white appliances since they were newer appliances. They were not stainless steel, but the unit rented quickly and at market price. Stainless steel appliances would help if the kitchen cabinets and floor are not updated. Although it would be best to update the cabinets and floor, too. Like @Eric Dowling mentioned, there's  no need for ultra high-end appliances.

2. If you have a reliable list of vendors that includes a handyman, plumber, electrician, and contractor, ect then you can have a friend look over the property. I would definitely recommend having someone who lives in LA help with overseeing the property in case they need to visit the unit for any reason. You'll need someone who's decisions you can trust in case they need to find a new tenant for the unit. Don't forget to screen the tenant and do a credit/background check, too.  

@Talha K I was wondering if you had any luck finding a property management company you like. 

The roof of my 4-plex in Mid-city blew open in the wind storm a few weeks ago. The roofer finally came last week and we immediately laid a tarp over it. The last time he returned my call was 5 days ago. Can someone recommend a licensed, bonded and insured roofer in Los Angeles that they've used and recommend? Thanks!

Welcome, Derrick! 

I'm relatively new to RE as well. I purchased my first 4-plex in LA and I'm currently looking for another one. What's helped me the most here are meet-ups. It's helped more than RE books to be honest and podcasts. You will network with people who offer tips on refinancing, good books, effective classes, ect. Like BP, they are interested in helping. 

I'm reading book that I've heard recommended on a few of the podcasts and it's at the top of RE books on Amazon. It's called The Millionaire Real Estate Investor by Gary Keller. I just started, but he uses relatable stories that make the information interesting. 

Good luck on your venture!

There are so many great neighborhoods within a short commute from Santa Monica that are within your price range. You should list what you're looking for in a neighborhood. Many of the neighborhoods mentioned are so different from one another. Do you want to be walking distance to fun restaurants, bars and shops which you're probably used to in Venice and Santa Monica? Is beach life important to you?

I can understand why you're not finding anything in Playa Vista, but you should look into Westchester (and Playa Del Rey) which @Bill Maloney mentioned. With Playa Vista next door, LAX 10 min away, close drive to 405 and 105, and Playa Del Rey beach not far away, it has a lot of room for appreciation. I personally moved the Westchester/PDR in May and I'm finding it has everything I need in a neighborhood. I'm surprised how much lower home prices are here than other beach areas, but I think that will change once Google breaks ground. I'm actually looking for an investment property in the area. 

Someone mentioned Inglewood, which I think is still too rough. I don't see much there until  Inglewood can secure an NFL team. 

I'm going to come out and say that I'm not a huge fan of 90019. This is why I ask what you're looking for in a neighborhood. I was looking in that area when I was looking for my first 4-plex in 2013. I wanted a neighborhood that was lively and walking distance to fun restaurants, bars, and shopping. I did not find this in 90019. If you aren't looking for the same type of neighborhood that I was, then you may find a home within your price range there. @George Margareti's numbers sound good, but that's most-likely not his first rodeo. I wouldn't expect this type of result on your first purchase. He has the experience to know how to go into a changing neighborhood and rehab a property to make a profit. I don't know George (I'm sure I could learn a lot from George), but this is my inkling. 

One last thought--think about whether you will miss the beach if you move to the valley. You may want to consider the pros and cons on moving to the valley after living on the westside and see if that new lifestyle fits your personality. 

Downtown definitely more gentrified (which has effected NELA as you mentioned Will). If we compare Downtown and Inglewood, I say Downtown. Essentially you're comparing two areas with major sports arenas (Dwtn has Staples Center and Inglewood has the possible arrival of a new NFL team). 

However Dwtn had a 20+ year head start, so they are by far more gentrified. The opening of Staples Center is what really put Downtown on the map much like the stadium will do for Inglewood. Once Inglewood is able to secure an NFL team, I will consider that the turning point for Inglewood. Downtown also just opened their first Whole Foods which is a key sign that it's becoming more affluent and gentrified. Not to mention that if you read food reviews from national food critics, they always have their favorites in Downtown. The Broad museum just opened this past year. You will also start to see world-class parks and shopping centers built over the next 5 years, making Downtown a place where people from all over the world will want to go. Will, you also mentioned the revitalization of the LA River which will be huge. I don't see developers, restauranteurs, and investors putting their money in Inglewood in the same fashion. As a result, Downtowns price/sq foot is unreachable for most. This is now bubbling over to the outskirts of Downtown like the Arts District which will also effect NELA.

Seven or eight years ago Downtown couldn't pay people to live there, so in terms of appreciation, I'd say Downtown until Inglewood gets their NFL team. 

Hi Ryan! I'm actually searching for an investment property in Playa del Rey/Westchester not far from El Segundo. May I suggest searching a little further east (or inland) from the beaches like Westchester. Westchester is booming right now because of the development of Playa Vista or what people are dubbing "Silicon Beach". You can do a little research on how Google purchased 12 acres in that area, which has already increased home prices. The beauty of Westchester is that it's still "affordable" (according to LA standards) and it's pretty safe. Now you won't be able to purchase a house in your price range, but you may have luck with an apartment. May I also recommend West LA, Culver City, Mar Vista, Palms, Cheviot Hills, Beverlywood, Pico-Robertson. Again, you probably won't find a house, but these are better neighborhoods with the potential to purchase an apartment. Good luck!

Best,

Jennifer