All Forum Posts by: John P.

I'm looking to buy my first investment property in Southern California. I found one that I really like, partly because it seems to be relatively low-maintenance for my first property, but my calculations put my ROI only at around 20%. Is that too low or do you think I should go for it?

http://www.redfin.com/CA/Los-Angeles/3170-Farnsworth-Ave-90032/home/6952924

This is a 5 bedroom newly remodeled duplex in a quiet neighborhood with laundry hookups in both units. Gas and electric utilities are split; water is not. After my realtor did some rent comparisons, he said I coud probably get the following rents:

$1000-$1200 for the 2 bdrm
$1400-$1600 for the 3 bdrm

I'd probably need to install laundry appliances in both units. There's no air conditioning either. I might consider installing that too. Do you think this is a good deal? Do you think I could charge more for rent with those add-ons?

Thanks everybody!
John

Hi Everybody!

I'm a 29-year-old aspiring real estate investor currently employed as a web application developer in the entertainment industry.

From what I understand (or don't understand) the market here in Los Angeles is pretty competitive, so I'm preparing myself to get creative and be open to making some potential sacrifices (i.e. relocating). I've only begun to educate myself by listening to the podcasts and reading through the articles, so I have a lot to learn before my first FHA purchase. My goal is to buy within the next 6 months.

Thanks Josh & Brandon for putting together such an awesome set of resources and building a respectful community.

John