tomyamkong, Home Buyer in West Los Angeles, CA

Where should I invest in Los Angeles?

Asked by tomyamkong, West Los Angeles, CA Mon May 27, 2013

I am currently living in my own condo in west LA that I bought 4 years ago. Since the interest rate is still at its low. I am thinking to invest in a single family home and putting it for rent in L.A. I have 100k of cash to invest in this. The problem is I am not sure where is a good area to buy and rent it out in L.A. Also, would it be easy to rent a single family home out in L.A? Some places in mind, Northridge, Van Nuys, Torrance and woodlandhills. Please advice. Thanks.

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2
Hi,

You are correct, since the interest rate is still low, it is still a great time to buy an investment property in Los Angeles.

You said you have $100,000 to invest. I am assuming you are looking to take out a loan. Have you been pre-approved yet and how much are you looking to take out?

Depending on your budget, we can narrow down the best areas of Los Angeles for you to invest. Areas near universities/colleges, business centers, or near the ocean are often easier to rent out.

Please feel free to contact me directly at (310) 717-1321 or JamieTian@RodeoRE.com with any further questions as well as your search criteria and I would be happy to send you some available listings that you might be interested in.

Best,

Jamie Tian
Rodeo Realty
(310) 717-1321
JamieTian@RodeoRE.com
DRE #01920120
Web Reference: http://www.jamietian.com
1 vote Thank Flag Link Mon May 27, 2013
Yes, near universities is a reliable place to buy a home. You will always have a pool of renters and they will change pretty regularly so that you can actually raise the rent in-between and see more return on your investment. Your limitation is how much of a home you can buy. With $100K down payment, and keeping your condo, you most likely won't be able to get an 80/20 loan. As an investment property, you will only be able to get 75/25, or 70/30. Based on these formulas, you cannot buy near UCLA, but you could near USC or CSUN. You will not be able to buy a home near the beach. I would be happy to assist you further, but of course, need your phone number and email. Let's meet in-person as soon as possible to get started.

Regards,
Michelle Menna
Keller Williams Larchmont
(323) 272-6657
michellemenna@gmail.com
http://www.michellemenna.com
0 votes Thank Flag Link Mon May 27, 2013
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