Home Buying in Los Angeles>Question Details

Oscar, Home Buyer in Los Angeles, CA

any real state agent investor that can help me on guide me to buy a invesment property for under $90,000 in?

Asked by Oscar, Los Angeles, CA Sun Feb 1, 2009

los angeles or near areas planing to buy w/20% down and rent it out let me know

Help the community by answering this question:


I am a agent/investor and I bought a condo in Canoga Park for $90,000 late last year and am renting it out for $995/month. That's more than double my mortgage payment. I am netting over $200/month after HOA's, taxes, insurance, and pro-rated LLC fees which are pricey, but worth it if you don't want to be sued. Interest rates are even better now, so chances are your payment will be lower.

The property needed about $2,000 worth of work and a weekend to fix it up for renters. The seller paid for a home warranty which will take care of the minor plumbing, electrical repairs for a year. It is easy and there are plenty of deals and renters out there, especially in the SFV where many condos are back to mid '90's prices. Let me know if I can help.
0 votes Thank Flag Link Thu Feb 26, 2009
There are homes in Riverside County - Desert Hot Springs and the Coachella Valley for about $50K and up, homes in San Bernardino County for about the same. I am an agent in Big Bear and we have homes from 49,000 up. Some need a lot of work, some don't need much at all. There are properties on acreage in the high desert for your price range. Most are foreclosures, and many are in reasonable shape.
0 votes Thank Flag Link Sun Feb 15, 2009
I have looked online for more info on this shared equity program for investor's. I'm sure I'm not the only one who would like more information about this. I looked at your website and couldn't find anything substantial. What are the particulars of this "sounds to good to be true" offer. I might consider changing brokerages if it has any teeth to it.
0 votes Thank Flag Link Sun Feb 8, 2009
Prudential has shared equity programs available to investors, if you are looking to flip this may be something to consider. Contact me for more information.
Web Reference: http://www.bennychavez.com
0 votes Thank Flag Link Sat Feb 7, 2009
I would look in San Bernadino County. I've seen homes for $40,000 and up. dave@daveheck.com
0 votes Thank Flag Link Mon Feb 2, 2009
Hi Oscar,

There are several great deals available, but there are several things you must take into consideration, such as rent control, supply and demand of rental properties in the area you are looking to buy, the work the property might need, ect. Contact me, so we can figure out what investment will be the best for you. I have several homes for sale in Los Angeles. I think you make be interested in a duplex I have for sale at $180k the first unit is a 3 bedroom 1 bath and the second unit is a 1 bedroom 1 bath. Here is my email alexandrasellshomes@yahoo.com or my number (323) 482-0705
0 votes Thank Flag Link Sun Feb 1, 2009

I work with real estate investors (including 1st time investors) and would love to help you out. The LA area is very big. It would be helpful to know, more specifically, what you are looking for, so feel free to contact me through my profile or by phone. Then we can, working together, get you a great investment property. Dare to Dream.

Shel-lee Davis
Real Estate Consultant
RE/MAX Palos Verdes Realty
0 votes Thank Flag Link Sun Feb 1, 2009
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