So CA is very high as we know. I am looking for 4-unit+ apartment or SFH to do some repair in San Bernandino, LA border(Pomona, Chino, Diamond Bar).
I agree that we need more money, or more time to find something here reasonable. You either have to keep looking, or wait until interest goes up and market soft to start finding some good deals but that might be 2+ years. I don’t see strong sign of slow down. New development are poping up everywhere, and people are lining up and many put on waiting list…it’s crazy…
Another alternative which many investors are doing is out-of-town or out-of-state investments where you can find some better in buyer market at least. Things to think about but property managing can be a concern unless you have someone you can trust.
Ok, so I get the feeling that no one is really looking in the los angeles, orange county areas? Why is that? I know property is expensive right now but what would be the other reason.
CA Investor - how do you find your leads?
Garfield - have you tried looking in the San Fernando area also?
Long Beach and San Pedro are Los Angeles areas! I dont think there are any other reasons that make me hesitate from investing here besides price, at least for me anyway.
I dont like Orange County which is why I am not looking there. That and the fact that one realtor I spoke with specialized in O.C. and told me that there really is not much there for a beginner Investor that has a smaller budget, and that matched what I was looking for; somthing small that would be a fixer-upper.
What do you mean by your smaller budget? Wouldn’t you be using a hard money lender instead of your own money. I know I would. What have you tried doing in order to find the deals? I am also barely starting out and I am glad to have find this website BUT I do notice that there are so many different people from out of state that post on here also. That is why I am curious to know what investors in this neck of the woods are doing.
I work in Long Beach also but live far away in Chino Hills. Long Beach is definitely growing. If you can buy anything here close to the beach as much as possible, then your investment is good. The only problem right now is the price as we know if.
I am also looking in San Bernardino, Riverside as well.
I just found out about this website. I am also a newbie to REI. Right now I consider myself in the training phase of REI. So if anyone can recommend books that I can study and sources that I can investigate I would more then appreciate it. Also, since I also live in Southen CA, I do believe the market is high. How can I can started in REI with the market so high. I have also lived in Vegas and the market there is becoming live CA. And Phoneix is another market that is becoming intersting to me. Any infromation would be helpful to a newbie.
I have invested in 3 rentals the inland empire over the last 2 yrs. one 1 out of three I am not even breaking even but the appreciation is great. I think the last #s I heard was up 37%. A realtor told me yesterday its up 43% on land in some areas. Orange county was up 27%If anyone knows something on land investments I would be interested.Also interested in du and tri plexs.
All in Perris with conventional loans.
I would like to skip the agent on the next ones
Hesperia is hot! Morena is still good I guess
I would get another anywhere for good equity!
I’ve read a few of Gary Eldred’s books… Making Money w/Small Income Properties. He has other ‘Making Money’ titles as well. I like his style, approach about adding value/good management and not just about getting the best deal.
I’m new, completing first fixer and researching/reading to decide what’s next
I just spoke to ny loan officer/investor that she strongly advised me to invest here due to appreciation. I mean I have to agree with here, last year or so I didn’t act or buy anything based on her advise, and how look what I have missed. Of course she has been investing for many years and own 6 properties worth several millions.
I mentioned that I liked to invest out-of-state for cashflow (flat appreciation) but she opposed that idea due to lack or appreciation and remote property management, and told me to stick with high appreciation here in CA eventhough it might be negative cashflow for a year or so.
I am kind of confused of what to do next but probably try to find something here where at least it will be within driving distance. I would feel comfortable starting. Any comments?
You might want to consider the fact that if you invest out of state your loan officer will not be able to make money of you. If she talks you into buying in CA then, you will probably use her services.
It’s definitly better to manage your own property instead of having a property manager out of state. At the same time you don’t want to pay through your nose to manage a property in CA at a negative cash flow.
I would suggest a mix of local and out of state properties.
To all,
On this board I keep reading about benefits of joining a local REI club. So far I have visited two clubs and was dissappointed with both. Can some one please recomend a good club in Los Angeles area.
The AV is not a city, similar to San Gabriel Valley (la county).
AV Valley consists of Palmdale, Lancaster …etc.
It is now where Fontana was about 5 yrs ago.
The area is booming with people trying to ~Escape from L.A~…
We get the full circle of people.
New housing tracts non stop and along with them they tend to build the school/church and supermarket. I always hated that but it is efficient. Did some research at the library 2day and found that the AV Mall is the 8th highest grossing mall in So. Cal at the end of last year. Remax Realtors in Palmdale-Lancaster is the 12th fastest growing private co. in LA County.
The median home price is roughly 240k.
I do believe normally unqualified buyers from L.A. are getting creative deals and a year later are being forced to sell what they couldn’t afford, which accounts for the quick turnaround and frequent for sale signs…even in 1 and 2 yr old neighborhoods.
That should translate into record foreclosures sadly(or not) and a decent rental market.
Disclaimer:
Advice given by me is by no means a guaranty of riches.
I am fairly new to the game and have been studying
this game for only 3 months. My 1 year plan was to keep my job and improve my credit from 580 to above 700(up 50pts so far!), Educate myself, locate one or two Creative RE Brokers (done!) and meeting with sellers to get comfortable with negotiation (3 down). Its coming along nicely.
I have heard a lot about AV growth. Many years back, some friends of ours moved out there and recently bought a big house there while have been running his business in the areas for the last few years.
I am also monitoring Inland Empire, Apple Valley areas as well.
Besides income property for rental, I am looking into mobile home park for sale as well.
I am new to this board and live in San Jose. I have several rentals in St. Louis, MO and they have appreciated as fast as California property but the starting prices are much lower.
Still I am interested in hearing from anyone who is bidding in the upcoming Tax Sale in Alameda and Lake counties. I have never bid in one. Please hurry if you have advice. It’s next week!
I just joined this REI forum today. I am new and want to learn more. I am also in the San Fernando Valley. I am planning to join the reiclub that meets at Red Lobster in Canoga every 1st Wednesday.
