los angeles county - Posted by charlie davies

Posted by rocky on July 28, 2003 at 20:40:39:

charlie, I am in the oc la area, and have been for a little while now. My suggestion is to go to the la county recorders office and look for preforeclosures, or else try to start with properties in unincorporated areas of la county.
Good luck and good investing,

los angeles county - Posted by charlie davies

Posted by charlie davies on July 28, 2003 at 20:31:27:

Man, I’m stymied and I need some help. I was all set to work on this stuff when I lived in OK, but a move about a year ago to the Long Beach area forced me to focus on other things for awhile. I admit I haven’t done a lot of looking, but what I’m finding suggests this market is too hot. I don’t mind focusing on another part of LA County, but I don’t even know where to look.

Can anybody help? Where’s the best community to start looking? I have also tried to identify a couple of REI clubs, but have not been able to connect as yet. Help me if you can.


charlie davies

Re: los angeles county - Posted by John V, FL

Posted by John V, FL on July 29, 2003 at 13:20:42:

I don’t know if you are just trying to flip or buy and hold. The carrying costs on those 550k houses in your area are enormous even at today’s low interest rates and the negative cash flow is significant. At maybe 25 to 30 times annual rent it is a true bubble. Ask yourself who would by these houses at today’s prices when interest rates go up to at least 8% and the whole world is not as euphoric as they are these days about housing as the bullet proof investment of the day. I don’t beleive for a moment housing will continue to go up forver and ever with no risk and that interst rates will stay low. I would also beleive anything more than a short term exit strategy for flips or very little leverage with at least break even cash flow at only fixed rates for long term holds is asking for trouble in coastal california. When the music stops there won’t be enough chairs for everyone to sit down. Anyone who thinks the gov’t will bail out homeowners is nuts. They didn’t bail out the airlines or Worldcom (the information superhighway backbone for our defense department)

Try going east… - Posted by Alex F. (CA)

Posted by Alex F. (CA) on July 29, 2003 at 24:00:39:


Welcome to southern California. Try Riverside/San Bernardino, CA. I live in San Diego, but have rental properties in SB. The area is expected to grow a lot as it is still one of the most afordable areas available in Southern Cali. I have to admit, prices have increased significantly this year, but do your homework and you can find some positive cash flow properties and/or flips.

Good luck,

Alex F. (CA)