Home Buying in Downtown>Question Details

C.l., Home Buyer in Los Angeles, CA

is the condo market in downtown los angeles a good investment to get into within the next 6 months? The

Asked by C.l., Los Angeles, CA Wed Jan 2, 2008

1-2 bedroom prices and HOA fees are still quite high.

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3
Richard Schulman’s answer
Hello,

I see you asked this a couple years ago, did you ever have any luck with investment properties? There are certain areas of downtown which may be good investments, but I would recommend expanding your search a bit and looking into other areas too. I have investor clients buying in certain areas of the Valley now and getting ~10% return on investment.

If you would like, I email out a free weekly foreclosure investment newsletter, with some of the best investment properties on the market that week. Let me know if you would like to receive it.

Richard Schulman
Keller Williams Realty
#1 Agent KW Westside Realty
(310) 482-0173
schulmanrd@yahoo.com
0 votes Thank Flag Link Fri Jun 18, 2010
Thank you for joining the website concerning lofts in Downtown Los Angeles. I've been the agent assigned to make sure you find everything you are searching for in the Downtown and surrounding areas. First, let me assure you that there are no fees involved in using my services. In the State of California, working with a Rental Agent or Buyer Agent is available to you at NO COST.




So, I'd like to start by learning more about what your searching for in a property. I've available to assist you 7 days a week. Can we set up a phone call or do you prefer to communication via email.





Johnny Nekuda Johnny@Loftlivingla.com
d.r.e.01882103 Cell 562-896-3789
0 votes Thank Flag Link Sun Jan 5, 2014
The best investments are the low-priced properties, which are low-priced because there is litigation, pending or active, in most cases between the homeowners' association and the developer. This scares some buyers away, shrinking the pool of prospective buyers. The smart investors know the lawsuits will eventually be settled, and they will come up smelling like a rich rose in the end, when the market cycles back to the upturn. The "problem" properties at this time, coincidentally all well-located, are Barry Lofts, 5th & Broadway, Bartlett Building, 7th & Spring, Little Tokyo Lofts, 4th & San Pedro, and possible The Savoy, 1st & Alameda. These are all fine buildings, with different features and personalities. All are well worth having a look at. They are in different Downtown neighborhoods, all convenient to public transit, and there are at least a dozen condos currently for sale in each of these buildings, some short sale or REO, some resale, so the selection is terrific for the investor buyer. Or for the buyer looking for a great place to live. Make it your crash pad or lease out and hold for appreciation (increase in value), which WILL happen...eventually!
0 votes Thank Flag Link Fri Jun 11, 2010
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