All Forum Posts by: Nick Coonis

Hello @KASH HALL and welcome to Bigger Pockets. I am working on a building project and eventually moving to Acton, CA so we'll be fellow Antelope Valley dwellers... Like @Ali Boone said if you could share some details on the project that would be great. I've always though Palmdale and Lancaster had potential to be great Los Angeles county investing areas. Good luck!

Hello @Annette Meltzer welcome to BP! I am in the middle of making a transition from south LA county to Acton. I am also new to the industry and have hopes of making deals in Palmdale, Lancaster, etc. once I get settled in Acton. We are starting a building project there now for our personal residence. Good luck and stay in touch!

@Matt R.  That's hilarious Matt! I bought my property on a foreclosure for about 50K (the seller had purchased it four years earlier for $220K) and we just sent a deposit check to the home builder. The total build will be $260K-ish. Comps for the same size home in that area are easily selling for $400K - 450, so we should be looking at some nice equity. 

Making your money on the purchase is where it's at! Right now our realtor valued our land at $160 - 200K. If we would have paid full market price for it, this would not have been a good deal.

Welcome to BP! I'm new here also and in the middle of my first deal/project in the northern Los Angeles county area. 

@Scott Caceres  to send someone a private message, click on the picture of yourself up in the top right and go to inbox or "send a message". To reference someone in a forum post, type @ and then start typing their name and it will pop up at the bottom of the screen. Click on their name and it will be highlighted in blue, and when you post the message they will be notified directly by email.

I appreciate your insight @Scott Caceres I am pretty certain that the Antelope Valley will be where I set up shop. Once I get my new construction project going I plan on getting after it. How are you finding deals out there? 

@Justin Roldan welcome to BP. This is a great resource, especially for newbies like us!

@Pete T.  Sorry Pete, for some reason your previous post the @ didn't reference me. The company we looked at is called Pacific Valley homes and their office is in Perris, CA. But the homes they sell are from a manufacturer called Golden West. Clayton homes and the other major sales companies use the same manufacturers I believe. 

They sell the same floor plans for manufactured homes and modular homes, and the prices on there website reflect the manufactured home price. The modulars costs roughly 30% more than the prices shown on their website.

And like I said before, the modular homes are Single Family Residences, and are classified that way. Once they're built, you never have to disclose how they were built and even if you did it would be a positive, not a negative. 

We got approved for the loan and are going to proceed. I'll start a post on here and document the process with photos and stuff. 

Pacific Valley Homes

@Qemal Shaholli Welcome to BP! I'm new here also and I'm in your exact same boat. No matter what questions you have, the answers are surely in the forums, on the blog or discussed on the podcasts. This site is definitely the place to be. 

Wow thanks for all your advice Will, you've been a huge help and everything you've said makes sense to me. Your above mentioned strategy is definitely one we've talked about, and probably makes the most sense. I guess the idea of investing out of state just scares me a little so I was trying to find ways to make local Los Angeles buy and holds make sense. There's always the Inland Empire and Antelope Valley areas to find possible cash flow deals too right?? Again wishful thinking. I was just researching Palmdale though and I noticed it has about a 3.4% price to income ratio. I think that's decent, right?

Thanks for all your help!