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Team California
Join Date: Jul 2001
Location: los angeles, CA.
Posts: 41,462
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A guy that I know here in LA makes a lot of $$ buying 4-6 unit apt. buildings that are semi-distressed merchandise, does quicky rehabs on them and flips 'em for a nice profit. He told me that he does 4 or 5 a year and makes ~$100k on each one. He also has a day job that pays well.
What is really interesting, to me, is that he and his wife RENT the place they live in. It's a good deal, ($2600 for a beautiful duplex), and he agrees w/ me that buying RE to live in is a terrible investment in L.A. right now. Way overpriced.
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Denis
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