General Area in Los Angeles>Question Details

liilyeekim, Home Buyer in Los Angeles, CA

Where is a best place to buy in Los Angeles for income units/ single family home if I had $150k - $200k to invest? Shortsale?

Asked by liilyeekim, Los Angeles, CA Sat Jun 16, 2012

Help the community by answering this question:

Answers

9
Marcy Collins’ answer
Is that a down payment or total investment? Income units are in high demand right now so it is unlikely you will find something available in that price range. My advice is do lots of research.
0 votes Thank Flag Link Sat Jun 16, 2012
Northern San Fernando Valley. Solid rents, very good tenants and solid schools. Just make sure you budget enough money to do some repairs but you can get great duplexes there.
1 vote Thank Flag Link Tue Jun 19, 2012
I agree, Studio City/Sherman Oaks are great areas to consider.
Flag Thu Jul 5, 2012
You may visit http://www.homefacts.com . Also you may talk to local real estate agent.
0 votes Thank Flag Link Thu Aug 9, 2012
Just closed a sale in Lancaster. 3 units under 200K all occupied with solid tenants that have been there for 5 years plus. Cash positive, meaning the rental income pays for the mortgage and there is cash left, enough to regain the investment in 18 months. If you consider it, move fast as investment properties are getting an average of 4 offers per listing and sold quickly.

Good luck
0 votes Thank Flag Link Thu Jul 19, 2012
I like 90301 inglewood. Good prices, good location and no rent control.
0 votes Thank Flag Link Sat Jun 16, 2012
At that price mostly Los Angeles City and South Los Angeles.
0 votes Thank Flag Link Sat Jun 16, 2012
In today's market, if you can get an income property for $200,000.00 and it's in reasonable condition, go for it. Income properties are selling like hotcakes: as soon as one is put on th emarket, it receiveds multple offers and is under contract within 10 day.
good luck !!
0 votes Thank Flag Link Sat Jun 16, 2012
In general, I would say if you look at Los Angeles like a big doughnut and you forget about the doughnut hole, you can find properties in that price range to the north, east or south. But sometimes it's not the whole part of an area, just street by street, and in that price range there are very often problems with condition.

Diane McDonald
Prudential California Realty, Los Feliz
0 votes Thank Flag Link Sat Jun 16, 2012
Are you interested in income property ?As investor putting 30% down, I would recommend non rent control areas.
0 votes Thank Flag Link Sat Jun 16, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer