All Forum Posts by: Walter Roby jr

@Akwasi Degraft good luck on your pre-approvals. Would love to find out what success you have.

@Sri Voodi Just a thought that crossed my mind, if he went with option 2 and were to sell it so soon, wouldn't he not reap the benefits of capital gains tax and instead being paying more in taxes than if he were to hold it longer?

 First hand experience and highly agree! When my girlfriend and I had to rent a place with her family, our $4k rent was very very temporary (<1 year). Once we got it down to $3k in a very similar neighborhood, we were comfortable and stayed much longer.

Hi Mario, I am familiar with the Tarzana market (been living in the SFV for the last 12 years) and am like you with little experience in real estate investing. I have been investing all my spare time into tons of research and have noticed huge investment in the neighboring communities like Encino which is good for appreciation however, I observe homes selling at a slower pace than in the beginning of the year. Not sure if that's a sign of a toppy market or something cyclical.

That being, said the long term play is a nice option if your prepared for it. I can't imagine rent prices going down much below 1700/month in Tarzana. If the property cash flows after you've accounted for vacancy, HOA, pm, etc. I would love to be in your shoes and start having a equity build up albeit small.

@Brett Goldsmith Nice work! I also reside in the SFV and am in the search for prospect opportunities.

Ive visited Vegas a few times driving around neighborhoods a few months ago with an agent/police officer looking for property and found some good pockets just north of Henderson and around Horizon Ridge Parkway. I believe there are many new developments there and golf courses intertwined with B+ neighborhoods. Not too sure about the cashflow though.

Great story Michael. I too have been investing lots of time to expand my knowledge in real estate investing through many podcasts (probably 20 BP/week), reading through the forums, and knocking out books in the past months. I have my eyes set on target-direct mailing from my daily work commutes/driving for dollars time.

I am working on getting into contact with a 3/2 SFH w/ pool that is in a trust located in in Encino. A rough estimate ARV would be $1.2m-$1.5m (neighboring comps around $1.5m-1.8m) after maybe $100k rehab (pure speculation from outside condition). My goal is to land this deal and similar if I can achieve <70% ARV under contract.

Would love to share the opportunity and gain experience along the way.

@Brian Burns Congrats. I also feel most confident in this approach as I too drive through many A and B+ neighborhoods daily.

@Andrew Syrios What do you mean "don't reach just to buy something"? Curious as to what you meant.

@Dave Visaya Thanks for the warm welcome. Funny, I am going to Tacloban in 2 months!

@Peter Brach Thanks to you as well for the warm welcome. How do you like investing in the LA market? (making the assumption you do of course)

Hi All,

I frequently commute from Encino to Culver City (Los Angeles, CA) daily and see many potential properties that would be excellent candidates for sending a well crafted letter and initiate a potential lead. One SFH in particular meets all the requirements and is going to be my first pursuit if the public info checks out.

I have no experience in setting something like this but I am confident in my approach. My question to you is; should I obtain my real estate license before jumping in the deep end or get my feet wet and see where the conversation takes me?

Thanks in advance