All Forum Posts by: Timur Salikov

Kevin, I think you are late to the party in those areas... Houses go for 800k - 1.2 mil. South Central might be a good place to look, but it will probably take 3 - 4 years before things really take off there..

This guys website might help also..

http://www.tylerharman.com/hipster-movement/

Archie Robb is right about Boyle Heights. I live there and can see the changes happening. I would consider 3 developments in that area.. the new 6th street bridge, gold metro line extension into expo line, and redevelopment of the old Sears building. Buying a property near those hot spots might get you some extreme appreciation. But thats just my speculation, take that with a grain of salt.

Currently I have a duplex in Boyle Heights that I bought in 2015 for 455,000.  3 red 2 bath in the front, 1 bed 1 bath in the back. I've rented each room in the front separately, everyone pays me $2200 total.  My mortgage is $2,555 so I pay $355 to live in the back. Have a huge backyard and I'm thinking of adding an Airstream trailer for airbnb .

Thanks for info guys.

@Michael Yeh

Absolutely! If not this property, it would be great if that agent would keep me in mind for properties like that. I'd like to reach out and talk to him.

Hello,

I'm looking for some advice on how to get an owner financed building / investment property

in an a C Class neighborhood like Boyle Highest or South Central.

What I'm looking for:

A two story building with some rental units on top and one or two retail stores at the bottom

OR I'm also open to a large residential house that is 6 / 7 bedrooms.

Value add building that has a large upside later down the road, I would live in the building and remodel.

My experience:

I currently own a duplex in Boyle Heights since 2015. Just about finishing up the renovations and ready to rent it out for positive cashflow. This is a good time to start looking for my next project.

Do you guys know anyone in Los Angeles that managed to get an owner financed building?

If so, what would be the best way.. Should I go out driving and look for buildings and try and contact the owners or should I get a hold of an agent that could possibly help me out.

Any thoughts?

You cant go back and retroactively increase rents.. If pervious landlord did not increase rents every year then that opportunity is gone. You can only do 3% moving forward. However I believe you can do a no fault eviction if you plan to move into that unit. You would have to pay up to 16k for relocation.