kt, Home Owner in Los Angeles, CA

Looking for opportunities to buy an income property in LA area with only $60K. I am looking for 10% ROI or better if this exists now? Own in Red Bch

Asked by kt, Los Angeles, CA Fri Aug 15, 2014

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I am assuming you mean you have $60K for down payment? You may be very limited on what you can buy in this area with that little down. Have you spoken with a loan officer to see how much you can get pre-approved for a investment property loan? That would be the first step before you start looking.
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1 vote Thank Flag Link Mon Aug 18, 2014
I think there are many people who would love a 10% return on any investment, but I have rarely heard of any. You have to take into consideration, Real Estate investments also have costs associated with them (expenses) which will lower your return.Please be very careful on this purchase.
0 votes Thank Flag Link Sat Nov 15, 2014
Hello KT:

There are a great number of income properties on the market today. Are you specifically looking in the Hollywood Hills? It'd be useful not to limit yourself geographically, since you're limited to a $60k down.

Have you been pre-qualified yet? Get in touch and I can walk you through the process.

All the best,



BL
0 votes Thank Flag Link Sat Sep 27, 2014
There is a 3 unit complex right now listed at $38,500 and it looks like all three units are rented.
0 votes Thank Flag Link Mon Aug 18, 2014
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