Home Buying in Los Angeles>Question Details

Ksk226, Home Buyer in New York, NY

my friends and i have about 80K in cash. we want to buy a cheap property as an investment. is this something that is possible in los angeles? i see

Asked by Ksk226, New York, NY Thu Apr 15, 2010

properties in long beach.palmdale. can you suggest any city that is pretty good to invest in with that much?

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14
Areas of Palmdale and Lancaster that are close to the freeway and schools are popular with renters. Due to the depressed prices, as of date you have 26 single family homes available for sale in this area priced between $50,000 and $80,000 and varying in sizes from 936 (3 BR / 2 BA) to 1672 SF (3 BR / 3 BA). Expected rents would be between $800 and $1300. Even taking into account property taxes, insurance and maintenance, you can expect a return on investment to be at least 8%.

If you need details about the properties let me know. These can be emailed to you.

Bob Khalsa, CCIM, SFR
Broker
United America Realty
UA Property Management
scvbroker@gmail.com
661-513-4433
1 vote Thank Flag Link Thu Apr 15, 2010
There are so many houses on the market right now, you would have a better chance of finding a good deal checking Craigslist. If you are looking to a Realtor for a deal that you can make money on, the Realtor's have taken all of the great Deals and want you to buy the leftovers. Trust me, a Realtor is working for a Paycack and your $80,k you are letting everyone know you have is opening you up to a bunch of fast talking Salepeople.
You would be better off keeping your money and partnering with someone that is all ready in the investment Business, such as myself. All you would need is a contract and I can get you all the Leads you would ever need, plus Transitional funding to do the Deals without using your own Cash...
Web Reference: http://www.we-pay-cash.net
0 votes Thank Flag Link Fri Apr 16, 2010
I'd be happy to send you a list of available properties in Long Beach, or you can search freely on my site, it's the #1 site in Long Beach and the entire Southern California MLS is displayed. Put LONG BEACH REAL ESTATE INTO Google and it is at the top. Feel free to call me to discuss the types of properties available to you in Long Beach in your price range.

Warmest Regards,

Laurie Manny
Realtor®/Consultant
Lic.#01321200

Main Street Realtors
244 Redondo Avenue
Belmont Heights
Long Beach, California 90803

(562) 212-5420

longbeachrealestate@gmail.com Email
http://www.longbeachrealestatehome.com Blog
http://www.lauriemanny.com Website
http://www.aboutlongbeachcalifornia.com Photo Blog
http://www.facebook.com/lauriemanny
http://www.twitter.com/lauriemanny Twitter
0 votes Thank Flag Link Fri Apr 16, 2010
I agree with the other realtors it's going to be challenging (not impossible) to find something in the Los Angeles area. I handle the Inland Empire specifically Riverside County and even though there are many investors like yourself "Cash is always King" and you'll find much more of a selection if you're willing to go East a bit

Feel free to contact me so I can send info you're way

Action Real Estate Group
Ken Bryant
krbrealty@gmail.com
562-852-6316
0 votes Thank Flag Link Thu Apr 15, 2010
Hello Ksk226,
It's absolutely possible, but you'll need to be a bit aggressive in searching for such properties in Los Angeles proper. That being said, you might consider South LA, or some sections in the northeast--Glassel Park, Highland Park, etc. You can also look at Rosemead, El Monte, and sections of San Gabriel. having that much cash is great, but LA is still really expensive. If you are considering either condos as well, you have more opportunities. If you're interested in receiving listings to get an idea of how much money will buy what, I'd be happy to send you that info.
Feel free to call or email me with any questions any time

Yours,
Lynn

Keller Williams Realty
Los Angeles
lynnleglaire@kw.com
323-219-4480
Web Reference: http://www.lynnleglaire.com
0 votes Thank Flag Link Thu Apr 15, 2010
Try a Short Sale or an REO, you could also try to find someone who is in foreclosure and offer to make up the back payments plus a little cash to walk away.
If you need some leads just Email me and I'll send you some updated leads to help you.
Good luck,
Richard
obrienfinancial@gmail.com
0 votes Thank Flag Link Thu Apr 15, 2010
Hello Ksk 226,

You won't find many options for that much in the City Los Angeles. You are probably looking at a condo in town. There should be many areas to explore. Carson. South LA, Watts, Inglewood. Long Beach may be a little too much. I'm could send you what's availble once I know what areas and if a condo would be ok.

Best,

Monique Carrabba
The Carrabba Group
Keller Williams Hollywood Hills
mcarrabba@kw.com
(323) 899-2900
0 votes Thank Flag Link Thu Apr 15, 2010
Yes, you can. Yet, you and your friends should hire an attorney to put together an operating and a JV agreement that will specify who contributes what and when. And it needs to specify how you all plan to dispose the property later on.
0 votes Thank Flag Link Thu Apr 15, 2010
HELLO I answered your question on a youtube video regarding the $80,000.

http://www.youtube.com/watch?v=EHu3rL-_ND4

Thanks,

Brad Roth
0 votes Thank Flag Link Thu Apr 15, 2010
Are you looking to get a loan in addition to the 80K as a down payment? Or just that cash? There are many types of investment properties out there, and if I had an idea exactly what your situation was I could advise you as to what areas you should look in and what you can expect to find. I work with a lot of investment properties of this type, and they are producing a nice return for my clients. Feel free to contact me at any time.

Richard Schulman
Keller Williams Realty
#1 Agent KW West Los Angeles 2007-2009
(310) 482-0173
schulmanrd@yahoo.com
0 votes Thank Flag Link Thu Apr 15, 2010
Are you looking to pay all cash with 80k or have a loan? If you are just looking for cash purchases at this price you will not have any luck in los angeles really. There are several outlying areas about 1hr outside of downtown LA that may work though. I am not an expert in these areas though. If you have the ability to get a loan, you can invest in some great rental properties with $80k to put down and start building passive income for the future. Let me know if this sounds like an option!
0 votes Thank Flag Link Thu Apr 15, 2010
Yes in fact I have two clients that buy at forcloser sales and get condos around 20% under current value
0 votes Thank Flag Link Thu Apr 15, 2010
Wht not consider the Phoenix area?

We have many nice newer homes that make great investments either as rentals or as future appreciation when the market recovers here.

Visit my website to search for homes and see for yourself what a great investment market this is.


Joseph Domino
REALTOR®, CSSN
HomeSmart
(Office) 602-503-4194
(Mobile) 480-390-6011
(Fax) 602-503-4194
jsdomino@scottsdale-azhomes.com
http://www.Scottsdale-AZHomes.com
0 votes Thank Flag Link Thu Apr 15, 2010
Absolutely! Despite the fact that Los Angeles boasts some wonderful luxury properties, we have a great selection of affordable, safe investment properties as well. Please feel free to contact me below or via my Trulia profile to get started. We will evaluate your needs and discuss ALL potential areas. I am a Los Angeles native and know it like the back of my hand.
Best,
Deborah Bremner
REALTOR, 00588885
Certified Short Sale Professional
Certified Home Retention Specialist
(D) 818.564.6591
TheBremnerGroup@gmail.com
Blogging at: http://TheBremnerGroup.com/blog
0 votes Thank Flag Link Thu Apr 15, 2010
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