Results for ‘How to’ category

Buying from foreclosure auctions

Is it worth getting involved in buying properties through county foreclosure auctions? The short answer is “maybe”. First, some background: When a borrower defaults on a loan in CA (usually by failing to pay), the trustee who holds title to the property in question is directed by the lender to hold a trustee’s auction. At

How to determine what your mortgage payment would be

As part of WordPress, the software that runs this blog, I can see the search terms that land people on my site. Almost every day, there is someone asking Google something like “what are my payments at 5% on $400,000”. Figured I’d share with you how I estimate those. If I’m doing a spreadsheet, I

The South LA Strategy

Just had lunch with a potential buyer (hi Bill!) who’s thinking of dumping around $1MM into LA apartment properties. He is comparing the opportunities available here with those available in Vegas, Florida, Phoenix and other depressed markets. He’s looking for a very high, 10+% cash-on-cash yield with room for lots of appreciation. Obviously, getting to

How to value a building that needs work

Rarely do you come across an apartment building in Los Angeles that’s in truly mint condition. Everything’s got a few dings on it; that’s just part of buying older buildings. For those normal, everyday buildings, you figure out a range for the multiples of annual rent in the neighborhood, multiply the annual rents times the

Buying REOs (bank-owned properties)

Recently, I’ve written offers on REOs (“real estate owned” – this is short for “owned by a bank because they foreclosed on the last owner”) for three readers of this blog. A lot of people are interested in these kinds of properties, either as potential flips or to fix up and hold as income properties.

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