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Leo, Home Buyer in Los Angeles, CA

I would like to ask the landlords, how are you doing with your rental business ?

Asked by Leo, Los Angeles, CA Mon Dec 29, 2008

Im looking to invest on a unit or a few and rent them out.

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Answers

4
With the housing maket as it is today, . It's a very good time to invest in multi-family rentals.
0 votes Thank Flag Link Tue Feb 10, 2009
Dear Leo,
I am a landlord as well as a real estate agent with five units in the Los Angeles area. Business is great! Real estate is still fairly high and so many high income families rent. There are many quality applicants. Sadly, because of the recent increase in foreclosures, more and more homeowners are becoming tenants. While this is awful for them, it is good for people who are landlords. It is difficult (generally speaking) to break even from the start in our market, but not impossible, especially if you have money down. My hope is to find another rental unit for my own purchase in this great buyer's market. I can search at the same time for you if you'd like. Feel free to email me for more specific assistance: I can guide you to the better areas and keep you informed about rent control, which is very important to be aware of as you decide where you'd like to buy.
Good luck,
Robin Page
RE/MAX Execs
310-213-9437
0 votes Thank Flag Link Mon Dec 29, 2008
Leo - are you considering multifamily or buying a single condo or home to rent out? I am guessing that you're not thinking large scale multifamily, or you wouldn't be looking here. For information on absorbtion rates of investment properties (like a house here or there, or even a 3-4 unit multifamily building), a local agent should be able to help you. Actually, I have an agent in the LA area that I can refer you to, if you're interested.... just email me at vchrisner@Kw.com
0 votes Thank Flag Link Mon Dec 29, 2008
Look at some of the multi family web sites and commercial borker sites for absorption figures ove the last 18 mos and current vacancy rate. Calculate the rents per SF, per Unit and gross income per building when looking. I am not sure what one or two landords can tell you. They often do/t own the building (larger properties) anyway

Good luck
0 votes Thank Flag Link Mon Dec 29, 2008
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