All Forum Posts by: Michael T.

Is there a Southern Utah or Cedar City real estate investors group?  @Jesse Poll is there a place I can find a qualified handyman in Cedar City?

Jennifer, hi.  I’m interested in knowing more details about this property.  You can contact me here or send me a DM.

Thanks,

Michael Tripp

Michael, if you have a situation where you are submitting an offer please feel free to reach out and I'll help.

Thanks,

@Jordan Futch there are definitely quite a few properties in California that do cash flow it's just a matter of finding that property that works for you.  What amount of due diligence and work you're willing to put in?  

If you are wanting to live in Santa Monica, Manhattan Beach and the nicer areas of Los Angeles then yes it is harder to cash flow.  If you are willing to make a little bit of sacrifice on where you live then there is definitely the opportunity to cash flow.

I bought and live in a multi unit in Inglewood which as of this week is the location that has seen the greatest appreciation in Southern California.  There are still properties that cash flow in Inglewood and I've recommended to numerous clients to invest here.  Some do but there are other investors that are still scared of the name Inglewood.

https://losangeles.cbslocal.com/2019/10/14/inglewood-property-values/

Don't get me wrong not every deal is a good deal in Southern California and not all of my investments are in Southern California, however, I've made more money here through rent and appreciation then my out of state investments.

You have to be willing to do the due diligence and know what you're getting into when investing in Southern California.  Find a Realtor that will help you find what you're looking for and then do the necessary work to make it cash flow.

@Kevin Luttrell sounds like a property I would love to buy!  I'll message you.  If you don't buy it, I will.

@Andrew Atakpo congratulations for starting the process of real estate investing!  There can be some great multi unit options in the Long Beach area which is definitely more affordable than places like Manhattan Beach and El Segundo.  

I invest in multi units here in the Los Angeles area for appreciation and out of state for cash flow.

I currently live in a multi unit in the Inglewood area and it's been one of the better investments I've made as I have a tenant who pays half my mortgage and the property has had great appreciation.

If you're okay with appreciation and don't need the immediate cash flow then I recommend investing in Southern California.

I'm confident you'll do great!

@Gadiel Del Orbe over the last 12 months I've had a few clients say they were concerned of a recession and that certain locations in the Los Angeles area (Inglewood) have hit their peak so they weren't willing to buy at that particular time.  

The clients let me know that they wanted to wait for the market pricing to go lower in the area before buying.  The last 12 months many of the properties I showed these clients sold at reasonable prices and properties continue to increase in value.  

At the time I tried to convince these clients that while there may be a recession there are still good deals to be found in the market and that if purchased correctly there would be good appreciation going forward.

Today on espn.com there was an article that discussed the LA Clippers building their new stadium in Inglewood, CA and the amount of money they will be putting back into Inglewood.  By investing back in the market the value of properties will continue to increase and if my clients would have purchased when they were supposed to they easily would have gained approximately $100,000 in equity over the last 12 months but their concerns of a recession and the market being priced to high limited their ability to make money.

While there is never a guarantee in real estate if you've done your due diligence, your working with a qualified agent and you buy correctly you should be okay.  To be a successful real estate investor at one point you have to take action whether it is here in Los Angeles, out of state, or your buying for cash flow or appreciation just take action.

https://www.espn.com/nba/story/_/id/27588999/clips-arena-deal-include-100m-inglewood

@Shan Vincent congratulations on having a condo with that much equity!  

In my opinion if you don't need the money then it's okay to hold on to the property as long as it continues to have strong appreciation.  Without knowing all of the details of your property there are most likely better real estate investments that will make your money work much harder for you and you'll get a better return than $300 on a monthly basis.

There is always a point in an investment that it is time to cash out and put your money into another investment that makes you more money.  Your condo may have achieved the peak of it's value and it will take another 4-5 years to grow like it has the past 4-5 years so it would be worth it to cash out and invest elsewhere.

If you have questions please feel free to ask.

@Gadiel Del Orbe it's okay to be a little concerned at the beginning stages of your investing career especially with the news of a potential recession, however, if you do your due diligence and make the right purchase you should be absolutely okay.

The best purchases in Los Angeles for most new investors are multi units and while you will most likely not cash flow the appreciation can be amazing!

If you're willing to look in certain locations throughout Los Angeles such as; Leimert Park, near USC and further south near Hawthorne you'll find properties that will still see good appreciation over the next 5-7 years.

Don't be afraid if you've done your due diligence. The most important part at this point is starting and taking action.

@Kyle, congratulations on starting the process of finding something whether it's here in Los Angeles or somewhere else.  The most important thing is you're taking action.

Los Angeles can be a great market to buy as long as you understand that you will be buying for appreciation and not necessarily cash flow.  You can find a property that will cash flow, however, it is very difficult to find and you may not be in the area you want or need to be in.

My recommendation is to buy in Los Angeles for appreciation and out of state for cash flow.

If your wanting to buy a multi unit here the and have good cash flow I recommend near USC, Leimert Park and Hawthorne.  There are many areas throulos Angeles that still have good opportunities to appreciate over the next 5-7 years.

Buying in Los is a process but I'm sure you'll do well!