Guide to Real Estate in Los Angeles

#1 Agent KW Westside, Specializing in Real Estate in LA and the Valley

By Richard Schulman | Agent in Los Angeles, CA

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Santa Monica Duplex Listing - Front Page Blockshopper Story!

Posted Under: Home Buying in Los Angeles | February 4, 2010 3:08 PM | 69 views | 1 comment

Very excited to report my Duplex listing in Santa Monica made the Top Story on the Front Page of Blockshopper!

Front Page: http://losangeles.blockshopper.com/
Direct Story Link: http://losangeles.blockshopper.com/news/story/2410057226-Santa_Monica_duplex_listed_for_1_499M

It is a great listing in an excellent location. Two Nice 3bd/1ba Houses on a Lot. Back house has private yard. Just a few blocks from the beach, restaurants, Promenade, shops and more! While it is listed at 1.499, I strongly encourage you to bring all offers to the table. This is also Zoned R3, which leaves a lot of opportunity out there.

Please contact me with any questions or for further information.

Richard Schulman
#1 Agent KW Westside 2007, 2008, 2009
www.RichardSchulman.com
(310) 482-0173
schulmanrd@yahoo.com
Real Estate as Your Retirement Plan

Posted Under: Home Buying in Los Angeles | February 4, 2010 10:29 AM | 67 views | No comments

Where is your retirement money? How do you feel about its potential performance over the next 20-40 years? Allow me to make the case for a residential real estate retirement plan. You can buy two condos, one house, or a duplex right now, for around $500,000. With a reasonable down payment, which you may be able to get from your current retirement plan, you could arrange for the properties to be cash flow positive or break even. In 30 years, the properties would be free and clear, giving you a huge chunk of equity and a good deal of cash flow.

Let's look at an example. Take for example a condo for $250,000. A 25% down payment yields a monthly mortgage of $1,064. Add in $260 per month of property taxes and $350 in HOA dues, along with $100 for insurance and various expenses, you have a monthly expense of $1,774. Let's say it's reasonable to rent this unit out for $1,750, so you are essentially break even. And, you are paying down $200 per month of principal. Over time, rents go up, your mortgage is fixed and your income goes up. Fast forward 30 years. Your property is paid off, so you have no mortgage. In today's dollars, you would be profiting $1,000 per month off of this one property, and you would have $250,000 in equity to fall back on. If you had 3 of these, you would have $3,000 per month of profit and $750,000 in equity. This does not include any profits you may have made over time, and of course, it does not take into consideration the powerful concept of re-leveraging equity. I have an upcoming blog about it, but take that $750,000 in equity and turn it into an apartment building. You could be profitting $5,000 or more every month on your investment. That's a retirement plan!

Richard Schulman
#1 Buyers Agent Keller Williams LA Region
http://www.RichardSchulman.com
Hot Foreclosure Deals of the Week

Posted Under: Home Buying in Los Angeles | February 3, 2010 8:54 AM | 63 views | No comments

I spend a lot of time scouring the MLS for the best foreclosure deals out there. I analyze the properties for their value and their investment potential. Every week I send out a newsletter with the hottest foreclosures, distressed properties and other great deals of the week. Occasionally I'll send a bonus edition with a really amazing property that has come up, the moment it hits - so that my clients are the first to know about it!

- Do you want to find out about the hottest foreclosure deals?
- Do you want to know about the best short sale steals out there?
- Do you want to find out about amazing investment properties?
- Do you not have time to look through all of the listings out there but just want to know
about the best ones?

If you want to receive my Foreclosures of the Week listings, please send me an email at schulmanrd@yahoo.com and let me know.

Richard Schulman
#1 Agent KW Westside 2007, 2008, 2009
http://www.RichardSchulman.com
FHA Flip Rule Changed

Posted Under: Home Buying in Los Angeles | February 1, 2010 10:57 AM | 103 views | No comments

Good news for buyers and sellers!

FHA has announced plans to remove the 90 day investor flip rule. The rule currently prevents FHA from insuring loans on properties that have been sold in the past 90 days. This eliminates low down payment, or low FICO buyers from purchasing homes that have been remodeled by investors or purchased from bank auctions. The first type is especially problematic, because many homes sell that are ineligible for FHA financing due to poor condition. Investors buy these homes, fix them up and re-sell them. Now that they are in good condition, they are still ineligible for FHA buyers. This new rule change should open up many more buying opportunities for FHA buyers.

Please contact me with any questions.

Richard Schulman
#1 Agent KW Westside 2007, 2008, 2009
www.RichardSchulman.com
schulmanrd@yahoo.com
Is a Short Sale the Right Option for You?

Posted Under: Home Selling in Los Angeles | January 27, 2010 10:02 PM | 132 views | No comments

If you are behind on your mortgage and need to discuss a short sale, feel free to drop me a line. There are a lot of considerations that go into short selling your home, and I can review them with you.

Things to consider:

How long do you want to stay in your home?

What can you keep from your home?

Can you receive any financial incentive to short sale or to move?

Is it free to do a short sale? (Yes!)

Best of luck during these difficult times.

Richard Schulman
Keller Williams Realty
www.RichardSchulman.com
310-482-0173
schulmanrd@yahoo.com
Short Sale Processing

Posted Under: Agent2Agent in Los Angeles | January 27, 2010 10:00 PM | 130 views | 3 comments

Agents, I just wanted to let you know I have put together a service to outsource short sales. If you, or agents you know, need their short sale handled properly, have them contact me. I have closed all of my short sales, and I have a team who helps me process them, so it is a great solution for busy agents who don't want to deal with the hassle of closing them. This is a complete solution, from contract negotiation, short sale processing, and escrow management.

Remember, leverage is one of the keys of any real estate business. Let my team allow you to focus on the other two 'L's - listing and lead generation.

I can offer agents flexible pricing structures, from flat rate, hourly or commission.

Richard Schulman
#1 Listing and Selling Agent
Keller Williams Westside Realty
www.RichardSchulman.com
310-482-0173
schulmanrd@yahoo.com
Become a Facebook Fan, Follow Me on Twitter!

Posted Under: Home Buying in Los Angeles | January 27, 2010 8:21 AM | 117 views | No comments

Do you want to stay updated on the latest real estate news?

Do you want to be notified of the best deals on the market?

Do you want to find out about the best foreclosures and short sale listings when they hit the market?

Get up to the minute updates on my social networking sites!

Become a Fan on Facebook:
http://www.facebook.com/RichardSchulmanRealEstate

Follow Me on Twitter:
http://www.twitter.com/PropertyProLA

Looking forward to networking with you!

- Richard