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Investment Properties in Los Angeles : Real Estate Advice

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  • Home Buying1K
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Activity 69
Sat Nov 19, 2016
Richard Littlefield answered:
You have a couple of risks, I had a customer buy a house with a converted garage about 6 years ago. The city came by and made him take it out. The thing is on a purchase the city really does not interfere, the Termite inspector or property inspector can really only say what is to code.
Permits are hard to understand, the description the city will give you of the upgrades are very vague, to know what is permitted or not you must look at the the blue prints, though the city has a copy of the blue prints they will not show them to anyone, because the architects are quick to sue the cities for copyright infringements if you do. You can just bet t hat someone has been down to the city asking about this, and if you buy the house, the city will show up and demand you pay the cost to put it back to permit condition.
If they lender catches wind of any of this, you will be declined.
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Sat Nov 19, 2016
Dorene Slavitz answered:
Hi Edwin,
I would advise you to go to Westwood and see if you find a location that would suit you. Leasing commercial locations would be the arena of a Commercial Realtor (not residential). ... more
0 votes 1 answer Share Flag
Fri Nov 18, 2016
Kevin answered:
Here's everything you always wanted to know about 90004 Real Estate numbers and trends that you never dared to ask (kidding.... you actually asked for it :) ):
http://www.zillow.com/los-angeles-ca-90004/home-values/

When after years of cold market, a market starts growing and goes high, we may think it's time to sell. Unless it's only the beginning. I think it's going to grow 5-10% per year for several years ahead.

I double date this here so that we can come and check within a few years. It would be fun to check back :)

Kevin - 11/18/2016
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Tue Sep 27, 2016
Rich Reed answered:
A salesperson may not accept compensation for licensed activity nor pay compensation for licensed activity except through the broker under whom he/she is at the time licensed (CA BUSINESS AND PROFESSIONS CODE SECTION 10137).
If what you did were an activity requiring a real estate license (Section 10131), then it would have to go through your broker.
If you used your real estate license, you would have to follow the rules that apply.
If it were unlicensed activity, then it wouldn't matter that you have a license for that transaction.
Only you, with advice from your attorney and/or broker, can decide if it were licensed activity.
My opinion is that if you help others with the purchase, sale, exchange of real property or business opportunities, and receive compensation, you need a broker license or a salesperson license and be employed by a broker.
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Mon Sep 12, 2016
Dorene Slavitz answered:
I believe most loan officers want two years income plus financial docs ( W2's tax returns etc.). I work the greater Los Angeles and Westside Market and have never seen an income property for the price you are indicating. If you can use the cash you have as a down payment on a loan, that might be a possibility. I believe the average price for a one bedroom condo that you might be able to use as an investment is much higher . ... more
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Sun Sep 11, 2016
Dorene Slavitz answered:
It's disheartening to hear about the poor service you received from your agent, but it does sound like you are in escrow and will complete the transaction with this person.
You can complain to the Broker in the office where your agent works and perhaps some resolution could be reached.
I actually never heard of an agent paying for termite treatments, inspections are sometimes done at no charge though. If you cannot get satisfaction from the broker you may need legal advice at this point.
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Thu Jun 30, 2016
answered:
Lowell Sterling is correct, you will be signing something saying that you will be living in this property. If HUD finds out that you are not doing so, they will call the loan due and foreclose. They do verify these things for one year. ... more
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Sun Jun 5, 2016
Gail Mercedes Cole answered:
The CCRs and By-Laws are delivered to escrow from management company. Never heard of 0% rental units allowed. Given wrong information. This information helped you determine purchasing property. I would check with a real estate attorney and or California Dept of Real Estate. ... more
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Thu Apr 21, 2016
Rich Reed answered:
Wed Apr 20, 2016
Arpad Racz answered:
Hi,

If there are any homes in the area that have been built in the last few years, you could try to find out who the builder was.

Kind regards,

Arpad
0 votes 1 answer Share Flag
Wed Mar 23, 2016
Rich Reed answered:
Here are the IRS rules for the exemption: https://www.irs.gov/taxtopics/tc701.html

Living there longer than required does not provide an extended exemption.
1031 exchanges do not eliminate the tax, it is deferred.

Please seek the advice of a CA licensed CPA.
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Mon Mar 21, 2016
Kylesellsca answered:
I have some great older homes in the San Fernando Valley under $400k than would be worth closer to $1,000,000 if you put the other $200k+ into them updating and upgrading. You could also rent these single family homes out afterwards for $3,000-5,000 a month. This is what I would do. I'm also working with a buyer who is interested in buying the lowest priced 2 bedroom condo in Malibu, only $557k and getting $2,600 a month rent right now. Message me for more help at:

www.Facebook.com/KyleBischoffRealtor
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Mon Mar 21, 2016
Kylesellsca answered:
Hi, I am a licensed Realtor in Malibu, California and it seems that every city in Los Angeles has been appreciating in value since after the crash. If you want a high end investment with the highest returns over time, and want to live somewhere nice and in demand, I would suggest Malibu, Downtown LA, Venice, Santa Monica, Encino, Westwood, Sherman Oaks. These cities are projected to continue appreciating at a rate highest in Los Angeles. If you'd like to spend less money, there are plenty of other options that would make worthwhile investments.

Reach out to me at http://www.KyleSellsLa.com

or call/text at 8182925282 and I'd love to help you find the best option

Have a wonderful Day
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Mon Sep 28, 2015
answered:
Burrow Escrow is by far the most popular among commercial property brokers in Los Angeles even though they are located in Orange County.
0 votes 1 answer Share Flag
Tue Sep 22, 2015
Dorene Slavitz answered:
As professionals we cannot comment directly about any neighborhoods (due to our laws). I will say that there are many areas of Los Angeles that are undergoing a revitalization which is very exciting to see for a long time native of Los Angeles.
As with any investment you make, it's always advisable to "Buy in the best area you can afford" even if the house is not so great. The surrounding property values will keep your house up.
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Tue Sep 8, 2015
Gina asked:
I have several single family, multifamily, and commercial properties available. These are off market properties, with CAP rates between 12-20%. They are located in the St. Louis Metro East…
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