All Forum Posts by: Ramel Sherman

Greetings Summer and The BiggerPockets Los Angeles Community,

I am in search of a good CPA with a reputable background structuring LLCs and S-Corps for acquisition/management of numerous real estate investment projects in the Los Angeles area.  Any references would be very much appreciated.

Best Wishes to All!

Greetings BiggerPockets Community!

I am in search of a good CPA with a reputable background structuring LLCs and S-Corps  for acquisition/management of numerous real estate investment projects in the Los Angeles area.  We are based in the Santa Clarita area and need a CPA to help answer questions regarding structure as well as to file next years returns.  

I will be more than happy to follow up with more specific details.  

Thanks in advance and Best of luck to everyone working hard out there!   

Ramel Sherman

Just moved to the Santa Clarita area from New York and very much looking forward to this!

Greetings BiggerPockets Community!

I'm dreaming of a Small Mixed Retail/Residential Apartment Building in the South Bay area of Los Angeles, south of Santa Monica, west of the 110, and north of Long Beach.  We've been looking in Gardena, Torrance, Hawthorne, and close to Inglewood.  I'm fantasizing about House Hacking at least two of the units on this property, a studio/1 bed/1bath and another 2 bed/1bath.  Ideally the rents would pay the mortgage and if anything is left provide a positive cashflow.     

With the Chargers and Rams coming to Inglewood this Fall, I'm curious how the BP Community feels about the chances of obtaining this type of property at this time in this area. How could something like this work? I'm envisioning a mixed use residential/retail space (that could possibly hold a store/company that will be profitable due to the influx of Charger/Rams business) With $60K Cash, is this property more of a fantasy or can it be a reality? Is it realistic to find a seller with a property like this that is willing to put together a Master Lease Agreement or some other type of deal without using a bank? If my partner and I were to use a bank, as first time REI, what would we need to do to get a bank to work with us on this type of deal. It would be great to hear back from people that have actually done this before, owners of mixed use properties near NFL Football Stadiums, but any feedback would be greatly appreciated.

Thanks in Advance!

I too have been looking for a multifamily in the New Rochelle, Bronx, Mount Vernon Area.  I was born and raised in the Bronx/Mount Vernon area and my family owns a SF in Pelham Manor so I am very familiar with the surrounding areas.  Everyone has made some great points, especially @Adam Cherko and @Account Closed.  All of the areas do have there pluses and minuses.  Lately I've decided to focus my attention on the Bronx, specifically the areas bordering Mt. Vernon.  Some of these areas are very close to Yonkers as well.  My broker has sent me a few listings of MF's in Yonkers and there are some decent finds around $120K to $300K specifically in the 10701 and 10703 zip codes.   

Have you looked into FHA Loans and 203K? The FHA can require as little as 3.5% down, and the 203K will cover the rehab costs.

Today is August 16th, 2016.  What cycle of the real estate market are we currently in?  How does the real estate market look for the rest of the year?

Thanks in Advance!