All Forum Posts by: Nabil Suleiman

@Erick Medina

Welcome to the community Erick. Its very honorable you are looking to get a place for you and your parents. I have been in that boat and completely align with the feeling you get when you get to take care of the people that raised you so well. If you ever want to chat real estate or investments in general I am always open to connecting and having the conversation. Good Luck with your investing journey and if I don't hear from you come back to this post in a year and update us on your success. 

@Ronnie Edwards

Majority of meetups have gone online, physical meetings hopefully come back this year. 

@Dana Sample

I love how easy or simple it is for other people to say, yea just evict them. lol. CA does not make it easy, and that was pre pandemic. Now with eviction moratoriums that have an end date... but don't really have an end date, because every 3 months they get extended another 3 months... ask yourself how quickly that ARV begins to dwindle. If it goes on for another year, then also ask yourself if you are taking out a hard money loan in order to purchase it, which many flippers do. You take the perspective of this possibly taking a year or more to evict a tenant with the risk of that tenant having the ability to not pay rent and also not get evicted, then you are asking a flipper to potentially go bankrupt since their loans are not federally backed, so they are not able to take on forbearance either to save themselves. This is the reason why you see these homes sitting on the market for such a long period of time. It doesn't take a lot of effort for a tenant to complain to any protection office and have the landlord cited for any request for eviction. You bring it up more than once you could be considered harassing your tenant.

@Asiel Zermeno Morning. Wholesaling is a tough game out here but if you are interested I can connect you with someone who can lay it all out for you. 

@Asher Leibowitz

If you are not living in it thats cool you can invest anywhere. Just remember, lenders will ask for 25% down if your intention is to be non owner occupied. Also remember LA is a lot of old homes. Having the rent pay only your PITI can lead you down a road of negative cash flow. You should expect Cap Ex, and you should expect vacancy. You have a lot of options outside of LA proper (San Fernando, Northridge, Winnetka, Riverside, Bakersfield etc) Theres a lot of options, I would explore the neighborhoods, cash flows, and exit strategies.

@Asher Leibowitz

Where do you live now? How far are you willing to drive to work if you have to? What grade neighborhoods are you ok living in? Most things under 600k if you are looking in LA is south LA or maybe Inglewood Compton depending on what you are looking for square foot wise 

@Kana Watanabe I have seen @Christopher J Driscoll Designs for his ADU and they are amazing, He has gone through the process of speaking with a lot of GC's in the area so hes a great resource for all of the above. @Scott Winnie is also a super trustworthy agent and I have worked with him in the past. So you have some great resources right off the bat, my additional Referrals would be too many :)

@Kristen L Garner May the force be with you. welcome to BP

@Joey Hart

Hey Joey, Not sure If you are living at home with your parents. If you are, there is nothing wrong with exploring out of state. If you are renting, then looking for opportunities in OC where you can house hack will be to your benefit long term. Also not sure what your income is like being an agent, and whether or not you have any consistency from the last two years would help with the loan process.As someone who was born and raised in LA, I was someones roommate until I met my wife. CA is expensive for sure, but if this is where you plan on staying, and you plan on being an agent here, sometimes its a hard thing to sell a product you haven't purchased yourself. A lot of agents do it, but I can tell you from experience that I speak with agents (obviously) everyday, and a majority of them have no clue what investors look for and many of them have never purchased a home themselves.  There is always a way to make it happen in LA, you may just have to think out of the box, learn how to force equity into something, and put a lot of sweat equity into proving that you can make it work in OC. 

@Jon H.

Want to see if plans are approved already for you to do a project ? If thats a yes, and you have the money to do it, its worth exploring options with contractors to see what that investment would look like. Once you have those numbers and your potential return/ forced appreciation it will help you with that decision. If you don't have approved plans, that journey to get there is long with the coastal commission.