All Forum Posts by: Mark Mynhier

Welcome to BP. I'm an investor here in Los Angeles, as well. If you ever want to sit down with a cup of Joe (or your favorite adult beverage) and talk about flipping strategies in the area, just drop me a line. You'd be surprised what you can do here with little or no capital. It just takes time and patience. There are also several good (and some not so good) REI's here in the area where you can network to help you succeed. Your network = your net worth...especially in LA.

Welcome to BP and welcome to the LA-BP community. Several of us here to talk about the local market and local conditions.

I flipped one that I bought for $125K and sold for $253K in Riverside, CA. I'm looking at buying one for cash flow in Kansas City...$45K purchase with a cash flow of $650. I've only been in the game for 1 year, though...ask me in another year.

Hi, @Ken Cooper...wished you could have made the mini-BP meet-up yesterday. We were just discussing cap rates in the LA area and what makes sense. I haven't invested in any buy-and-holds around here for that very reason, but I do know of others who do and have a great cash flow. The secret, I'm told, is finding that right place that you can put some cash into for a little bit of rehab to add instant equity and then finding the right renters. Avoid the rent control areas and focus on areas that can provide a 7+ cap rate (instead of aiming for 10+).

Have you focused your search only on the west side or any part of the county. You may get better results looking out towards the outskirts...Palmdale or Lancaster, perhaps.

Welcome, Dale...there are several Los Angeles people on here. Feel free to reach out to us (any or all) if you ever need anything...or just to grab a cup of coffee and talk about our favorite subject: Real Estate.

It may be a steal...or not. There are a LOT of factors in determining if this is a good deal or not, aside from the price and zip code. Occupied with seasoned tenants? Need rehabbing (and there are tenants in there that need to be moved before rehabbing)? What is the CAP rate? Cypress Park is on the edge of so many good areas, so it should be doing well.

Can you give some more information about the property?

N.B. I'm not a "buy-and-hold" guy, but I read a lot and know what a lot of the criteria for looking at a rental...it is the market that I want to be in by the beginning of next year...

@Ali Boone puts together Turnkey properties for rentals. You may want to hit her up here on Bigger Pockets either for advice or for properties. She writes fairly extensively about rentals (and she's just an awesome lady!) There may be others on here that do the same, but she is a resource to get in touch with.

Welcome to LA...where the flipping is like none other - literally. There are plenty of us in the SoCal area, so network with some people and flip some properties!

Welcome to BP...start networking like crazy and meet some of the people. Read Ali's postings and blogs...she is a wealth of information if you want cash flowing properties. Sam Sadat in Beverly Hills, too.

I have some friends that are flipping in Orlando and doing quite well. They like central Florida over the Miami/Ft. Lauderdale area because of housing prices. Having said that, be aware that if you are doing buy and holds that Florida has laws written to protect the tenants...some more stringent than the California laws. Just educate yourself and find a market that you are comfortable in.