All Forum Posts by: Michael T.

@Ian Gilligan

Ian, as @Nabil Suleiman mentioned there are multiple factors involved, however, I have found multiple multi-unit opportunities here in the Los Angeles market for house hacking.  

It is more difficult to cash flow here in the Los Angeles area but if you're willing to be patient you can have a renter pay a decent amount of your mortgage and then plan/forecast the appreciation.

In my opinion the best areas for appreciation right now in the Los Angeles area are; Inglewood, Ladera Heights, Windsor Hills and Baldwin Village. 

For locations that are close to you there are a few good deals in North Hollywood (in fact there's a triplex that recently came on the market), Van Nuys (a few good opportunities in this area), and North Los Angeles.

I purchased a multi-unit in Inglewood a few years ago and our renter pays half of our mortgage and our property has appreciated by approximately 28% in the last two years.  We recently re-financed and we're in the process of purchasing a few out of state rentals with the cash.

Hopefully this information helps.

Amit,

I'm here in the Los Angeles area and there are a few meet ups in case you're interested.  There are quite a few things happening in the Los Angeles market both from a retail and investment perspective so it depends on what you're specifically looking for.

Retail - Similar to other markets there has been a slow down in the Los Angeles market.

Investment - This has stayed relatively flat but since there has been a slow down in retail I think the investment opportunities will pick-up over the next two months in certain areas of Los Angeles.

Yes, add the dishwasher if you're doing a complete renovation.  It will typically cost an additional $500 but it will add more value to the rental overtime.

https://www.fixr.com/costs/dishwasher-installation

If you were not doing a complete renovation I would say it is truly up to the market but since you're already renovating everything just do it.  It will add a few extra dollars to rent each month and help secure tenants for the long term.

Denise,

You can definitely open a bank account for an LLC in another state and don't necessarily have to live in that particular state. There are a few credit unions that I will do this, however, I recommend First Tech Federal Credit Union

https://www.firsttechfed.com/

They are in both CA and ID and this should give you what you need.  Also, you shouldn't have to go the actual location of the bank or credit union to open the account.

I don't have any affiliation to this credit union it has just allowed me to do multiple things from state to state.

@Kyle Coleman

Yes, definitely I'll message you tomorrow and give you my recommendations on how to pass and what is the best things to do. 

Will, yes I definitely think that the Inglewood market will continue to appreciate and right now is still a great time to invest in multi-unit properties in Inglewood!

I've done quite a bit of research on the Inglewood market and below is one of my favorite articles which specifically applies to Inglewood, CA.

https://escrowofthewest.com/olympics-2028-real-est...

With the addition of the L.A. Clippers stadium, Rams/Chargers stadium, the addition of multiple hotels that will be constructed over the next few years, the 2026 World Cup and the 2028 Olympics the current value of Inglewood is great!

Below is another article that talks about the gentrification process that is and will take place in Inglewood.

https://femmagazine.com/gentrifications-next-targe...

My wife and I live in Inglewood and own a multi-unit here in Inglewood and if we had more money we would definitely invest here primarily for appreciation.

In fact last week there was a multi-unit that went on the market for a great price and while visiting the open house I probably met about 4 investors in the 10 minutes I was there. Inglewood is definitely the place to be right now in Southern California.

Oscar, there are some good opportunities in the Los Angeles market but at this time I've found better returns in the Inglewood market.

@Lee Leathers - 

There was another post about Inglewood and I responded with the below information as I think there is upside in Inglewood versus the rest of the Los Angeles market.

I definitely think that the Inglewood market will continue to appreciate and right now is still a great time to invest in multi-unit properties in Inglewood!

I've done quite a bit of research on the Inglewood market and below is one of my favorite articles which specifically applies to Inglewood, CA.

https://escrowofthewest.com/olympics-2028-real-est...

With the addition of the L.A. Clippers stadium, Rams/Chargers stadium, the addition of multiple hotels that will be constructed over the next few years, the 2026 World Cup and the 2028 Olympics the current value of Inglewood is great!

Below is another article that talks about the gentrification process that is and will take place in Inglewood.

https://femmagazine.com/gentrifications-next-targe...

My wife and I live in Inglewood and own a multi-unit here in Inglewood and if we had more money we would definitely invest here primarily for appreciation.

In fact last week there was a multi-unit that went on the market for a great price and while visiting the open house I probably met about 4 investors in the 10 minutes I was there. Inglewood is definitely the place to be right now in Southern California.

Nova, we're close to each other as I'm here in the Los Angeles area!  

There have been a lot of good comments and posts here in regards to investments OOS that are in the price range you're looking for.

I'm an individual that believes you can find investments OOS that are in the $50,000 to $70,000 that provide very good cash flow are are in good neighborhoods.  In fact I've purchased a few and made very good money from them.

Since there have been numerous suggestions in regards to cities in the mid-west that can provide good cash I won't add any additional ones but I focus on one market that provides strong returns and I'm purchasing in the $50,000 range.

Anna,

There are a few websites that I use but typically each city has there own specific data.  A few of the websites that I use are; 

https://factfinder.census.gov/faces/nav/jsf/pages/...

www.bls.gov

www.city-data.com

When you decide to get you're real estate license let me know and I'll tell you the trick to quickly get through the classes and pass the test. :)

Let me know if there is anything that I can assist with while your in the process of pursuing your first investment and your license.

Elaine, as Ali mentioned you don't have to rely on others to tell you if it's a good or bad time to invest in real estate.  

There are multiple variables that go into determining if it's a good time to invest in real estate.  Some of those variables are; the current market that you're considering (is the market increasing in population growth), the future of the market, the ability to keep tenants, taxes, the ability to achieve positive cash flow, your current goals and future.

Ultimately, if the numbers work and you're confident than it can be a great time to invest in real estate.  Don't let others deter you from achieving your goals.

For me I'm currently buying properties as the winter months are some of the best time to buy investments as the retail market slows down a little and there is more opportunity to get a good deal. Also, I personally try to avoid investments that have high HOA fees unless the numbers make sense.