I was having an interesting conversation with a friend the other day. We are both investors in the NYC area (rehabbing and flipping), and his family is moving to California, more specifically Los Angeles. He has spent years here and knows the market well. What prices to pay in which areas, how much houses will sell for in areas, built up numerous contacts within the industry and has become very successful here.
He knows he will be overall happier in Los Angeles and really wants to move there but will have no idea where to start. His fears are:
1- The LA market is more saturated. I have no idea how the LA market is, but I know that Queens, Brooklyn, and Bronx (our main areas of investment) there is FIERCE competition. Anyone have any idea of how the LA market compares?
2- He has no idea where to invest. I don’t know too much about it but I’ve heard the Long Beach, Compton, Watts, Pico Union area is where a lot of the investors are?
What are your guys thoughts? If anyone in the Los Angeles area has any input or advice I would really appreciate it, thanks!