All Forum Posts by: John Koster

@Vince Lucas. There is definitely a need.  I know several investors in Los Angeles who might be interested in those services.

Interesting.  Would have never guessed this was happening as of yet.   Thanks for the post.

@Vishal Sood.   I have a few SFRs and Duplexes in the area.  Overall it has been a positive experience.  8 out of 10?   My biggest frustration is being out of town and not being able to do a lot of things for myself and not being able to pounce on deals quickly, but this is all apart of investing out of town.  The rental market is great overall.  I definitely experience regular overturn and maintenance with my duplexes, much more than my SFRs.  During most months my SFRs renting for $850-1150 cash flow better than my duplexes renting for $1300-1400.   This is because most duplexes in the area were built in the 20s and 30s, which require more maintenance, and they contain 1 and 2br units, which generally hold a more transient type of renter.   Most SFRs are 3br or more, which attracts more of a young family type of clientel.  I think they tend to treat the property more as their own.   Good luck!

@Benson Juarez.   Those deals are quite common in my area.  Studio City/North Hollywood near Sherman Oaks.  There are a lot of old 1930s ranch style houses in the valley that sit on large (For LA) lots.  Flippers and developers  pick them up and turn them into McMansions with double and triple the square footage.   Some are remodels, others are just land grabs.  

The 1300 sq ft house across the street from me was purchased for 915K just to be razed.  15 months later they sold a 5000 sq ft house with a pool on the same site for 2.365 Million.   It would be interesting to find out how much the construction cost.

@Anna Buffkin  Thank you for your post.  It's always refreshing to read a realistic RE tale, however long it may be.  (This post was just a murder away from being a Dostoevsky novel.  Kidding.)  I think it's important to realize that sooner or later, every investor will have their share of wounds to lick.  Honest accounts like this are alway helpful, especially for those with less experience.

Enjoy your trip! 

Just a heads up - a group of Los Angeles investors who invest in Cleveland are meeting for happy hour to talk real estate.  Join us if you want to meet other new and/or experienced investors. This is just an informal hang out.  No presentations will be given.  You can find the official notice under the "network" tab.  Then just click on "events".   It is listed as Cleveland / LA Meet Up #4.  

October 23rd 6:00-9:00 PM

EP & LP Rooftop Bar

603 N. La Cienega West Hollywood, CA 90069

I have Ring at my home.  It works wirelessly off of my wifi signal and an internal rechargeable battery.  It is also quite light and can be easily mounted without altering the exterior of your building.  We have ours screwed into our Stucco wall, but it is so light you could velcro it on to any surface.  I would not consider it a permanent fixture at all, but if you agree you should supervise the installation to make sure the mounting doesn't create future repairs.

You understood.  Well done.

Impressive.  Congrats!  

Just curious, how much allotted capital did you start out with?

As it has been stated above, the midwest and southeast are full of good cash flowing areas to invest in until the SoCal bubble pops.  Investing out of state is not intimidating once you spend the time to study the market and develop relationships with realtors, property managers, contractors and other investors in the area that you choose.