Dnae Udall, Home Buyer in Woodland Hills, CA

Hi I live in the UK but I am an American citizen. I want to buy a house in CA to rent out while I am in the process of moving back to US.

Asked by Dnae Udall, Woodland Hills, CA Thu Feb 18, 2010

I have about a 130,00 dollars deposit what sort of price range should I be looking at for a 2-3 bed in woodland hills if I want to rent it out to cover mortgage or even make a bit of money. Also sine I am not living there who can I contact to help me rent it out? Thanks

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Answers

5
Dnae,

Were you able to find someone to help you locate and manage your rental? I think all the agents before this answer your question well. You are looking at a property right around $400,000.

I live and work in Woodland Hills and there are some great deals I would like to show you. I can also assist with the lease and management.

Cheers,
Dennis
(818) 917-4169
DRE # 01461155
0 votes Thank Flag Link Wed Mar 31, 2010
Hello Dnae:

An American citizen living in UK, how lovely. I have lived in and have family in UK. It's good you will be investing your money back home in the American economy. There can no better time than now to purchase an affordable home in Woodland Hills. A single family home in Woodland Hills with 2-3 bedrooms could start in the low $400,000 and a 2-3 bedroom condominium in Woodland Hills could start as low. as $240,000 but condos typically have a monthly Home Owners Association due of approximately $250+. After you close escrow and your purchase is concluded, I can also help you with renting the property if you chose not to live in the property at some point. Typically, renting a 2-3 bedroom single family home in Woodland Hills can go for a monthly rent of $1800 to $2500 depending on what the home has to offer. Do contact me at 818-825-6996 or email me at Bandele@BogunEnterprises.com. You can also freely search for Woodland Hills homes on my website http://www.BogunRealtyAndLuxuryHomes.com.
0 votes Thank Flag Link Thu Feb 18, 2010
Hi Dnae! I work with people in similar situations like yourself-- living outside the US. It's a great time to buy. I can show you some places in Woodland Hills and look at numbers with you. I live and work in Woodland Hills. The same agent you use for your purchase should be able to help you rent out the property as well.

Sara Mehrpouyan
Rodeo Realty, Woodland Hills
http://www.athomewithsara.com
smehr818@gmail.com
818-903-2040
0 votes Thank Flag Link Thu Feb 18, 2010
Your looking at approximately a max price of $340,000. Thus assumes a down payment of $120,000, interest rate of 5.75 % (as an investment property the rate will be higher than an owner occupied), rental amount of $2000, HOA fees of about $275, insurance of $50 a month (non owner occupied - this may not apply in most condominiums as the dues should cover it) and property taxes of about $400 a month.

I have a property management company so if you want to discuss all your options let me know.

Bob Khalsa
President & Broker
United America Realty
scvbroker @gmail.com
661-513-4433
0 votes Thank Flag Link Thu Feb 18, 2010
You probably want to look at a property in the $400,000 range. With taxes, insurance and maintenance, you'll probably be about break even. I can help you locate the right home, and I can also help you rent it out and provide you with all of the resources you need for a rental.

If you have any questions, feel free to contact me.

Richard Schulman
REALTOR
#1 Selling and Listing Agent Keller Williams Westside Realty
schulmanrd@yahoo.com
http://www.RichardSchulman.com
0 votes Thank Flag Link Thu Feb 18, 2010
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