As you can see, you'll get lots of replies from agents wanting your business. But let's talk a bit about your best interests.
How often do you purchase real estate, maybe a few times in your lifetime? Given that you don't have much experience with the real estate market, you can hardly be expected to know all the ins and outs of such a major complicated transaction! Most likely, the seller of the property you ultimately decide to pursue will be represented by a listing agent who can provide expertise throughout the transaction. Don't you owe it to yourself to have the same exceptional service provided to you throughout the transaction? As your buyer's representative, we can provide you with the expertise you need throughout the entire transaction from start to finish.
In most typical real estate transactions, sellers are represented by a listing agent who takes care of all the complicated details and also their client's best interest. As a home buyer, you should also want complete and fair representation in your real estate transaction. Real estate accredited buyer's representatives (ABR) are responsible for protecting the best interests of their clients â€“ home buyers like you!
I agree with Jayne: pick 2 or 3 Accredited Buyer Representatives, (Realtors who specialize in representing buyer clients) and interview them. Then select the one who most closely identifies with your goals for the purchasing process.
How can you find local ABR's? Look for the initials following their name (those are accreditations) or go directly to the ABR web site (link below), and do a search.
Best of luck,
The Bremner Group at Coldwell Banker
REALTOR, 00588885, ABR, CDPE, eAgent, CSP, SFR, HRC, CRE
(O) 310-571-1364 DIRECT
Accredited Buyer Representative|Certified Distressed Property Expert |Pre-Foreclosure Specialist Certified
I want you to know that I appreciate any referrals from friends and associates who may be in the market to buy or sell real estate. You can count on me giving them the same high-quality service I provide to all of my clients.
If you are looking for a property that you may live in yourself at some point and are simply looking to defray the cost of maintaining the loan there are a number of areas in Los Angeles that you might look into. Just remember that the more expensive an area is... the more expensive the monthly payments are going to be and the property will be less profitable as an investment.
I wrote a blog about good areas for less expensive homes available in L.A. proper a couple of years ago which still applies and may be helpful to you.
If your looking for a profitable investment only you might take a look at San Pedro and Long Beach. Here's the link to another blog I wrote a couple of years ago about the investment opportunities in these very undervalued beach cities.
The prices for properties in all of these areas have gone down since these posts were originally made.
Best of Luck.
2.You need to determine the range of prices with which you're comfortable and able to afford. Your cash situation and/or pre-qualification letter will help you determine this.
3. The best prospects are duplexes, triplexes, or 4-plexes. These help minimize your exposure vis-a-vis vacancies: 50% for a duplex; 33% for a triplex, and 25% for a 4-plex versus 100% for a single unit.
4. The first three items will help you determine which area will best meet your search criteria.
5. You may want to talk to agents in areas defined in item 3, above, where you want to buy then select one for each area, if the agents are willing to work with you on that basis.
6. As for ease of renting, that will be a matter of offering your units at competitive rents--this will apply to any almost any area.
7. A reliable measure of a good price will be the Gross Rent Multiplier (GRM)
8. Keep in mind that, at filing time, tax considerations could help you overcome even a negative monthly cash flow.
If you wish to discuss this further, please feel free to contact me.
Lic. # 01729337
800.CALL.ZIP (800.225.5947) x 8483
I am a licensed real estate broker and attorney for PrimeTime Properties and would be more than happy to help you. We have a number of listings that are both on and off the market and could negotiate a great deal for you. Feel free to contact me at 310.888.8700.
My client recently made a cash purchase of an REO fixer for $425k. He is experienced at renovating houses. He gave himself a budget of $50k for all additional expenses -- This included updating the 2 bathrooms, kitchen, paint, carpet. . . property tax, closing costs, insurance (all expenses over the 425k) -- He has recently leased it for 3 years at $2650/month -- That's almost a 7% annual return on his investment -- This of course does not include future expenses or anticipated appreciation.
There are many things to consider when buying an investment property -- Please feel free to call or email me (see info below) to discuss your situation. If we feel that we are on the same page, I'd be happy to meet with you and explain how Prudential can help. Thank you.
Prudential California Realty
23925 Park Sorrento
Calabasas, CA 91302
Look at their online presence as this is a very important item in today's market...
Bottom line, be an informed consumer... don't just go with the people that talk pretty...
best of luck!
Century 21 Union Realty
I recommend you start with a lender to get your loan approval letter. Then interview agents who work in the area in which you wish to buy. Choose an agent to represent you, as a Buyer's agent. There are many short sales and bank owned properties available now. Some are excellent as investments.
If you choose to purchase in the greater Los Angeles area, I'd be pleased to give you my references and meet with you inperson..
Sue Wylie, Broker
You've gotten the attention of some great agents here with your inquiry. I suggest that you pick 3-4 and call each and interview them...and allow them to interview you. Then, narrow down your choices and meet face to face with your top two candidates. You absolutely need a strong Buyer's Agent to help you navigate this market, point you towards a great lender, suggest different areas depending on your goals, different home types and/or 1-4 units...again dependent upon your goals (long term rental, flip, short term investment, etc.)
I'm happy to be one of your candidates. It's an interesting market right now...the low interest rates are, of course, one of the top reasons to buy now. This can't last forever! Coupled with the low home prices...great time to but.
Keller Williams Realty
If you wanna buy a condo I'd advise you to look at Downtown LA lofts. Downtown prices went down much lower then any other LA area and it definatelly is the "IT" place to be. I can easily rent any loft in DTLA within 2 weeks.
If you're looking to buy a single family house check out 90016 zip code. It's by far my favourite for this kind of investments. 90018 is not bad either. You can get a REO there lets say 2 bed 1-2 bath for under $200K.
Well... there's a lot to consider. You're welcome to contact me anytime. I'll get you more info.
You can dial 310-704-4863 and we'll go over the assessment of your purchase and find out
what would be the return on the rental that you are looking for.
Angel J. Hernandez
Prudential California Realty
If you are looking in Northeast LA, Eagle Rock, Mt. Washington and Glassell Park, I can help you find a great deal!!! Call me to discuss.:)
Prudential CA Realty
I've worked with buyers and assisted with many investment properties searches, ranging from the Los Feliz/Silverlake area all the way to the Westside. If I can be of service to you, feel free to contact me. Also, check out my website for useful information in today's market. It is very user friendly. Good luck with your search!
Rodeo Realty, Beverly Hills
Keller Williams Beverly Hills
I would be happy to help you out. I have been the #1 buyers agent at the Keller Williams Westside office for 4 years running, and I deal with a lot of investment properties so I can definitely find you something that fits your needs. Please call or email me anytime. 310-482-0173 (cell).