I'm a first time home buyer in LA looking for a condo

Asked by laulau, 90024 Mon Mar 9, 2009

I would like to buy a 2BR/2BA condo and live in one room and rent out the other. In an ideal world, I'd like to spend between $200K and $300K (probably closer to $300K). Where on the west side should I look to buy that will give me a good value and is a good area for a rental property (high demand and high rents)? When should I look to buy? I'm hoping to be able to capitalize on the economic downturn to find a good deal.

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Jonelle Bech…, Agent, Beverly Hills, CA
Sat Apr 11, 2009
Aloha Lau Lau ! Did you find an agent already? If not give me a jingle 818-605-3204!

0 votes
Dorene Slavi…, Agent, Torrance, CA
Sun Mar 15, 2009
Hi laulau,
You might want to look at Westchester,particularly near LMU. There is a high demand for rentals in that area, by the students from Loyolla. All prices are down now and interest rates are low. If you add that to the first time homebuyer credits, you can get a very good deal right now.
0 votes
Alexandra Pa…, Agent, Montebello, CA
Mon Mar 9, 2009

I would like to email you a list of what is available. You can send me your email to alexandrasellshomes@yahoo.com and I can gladly set you up with a buyer's system and sends you all the new listing daily.
0 votes
Grant Linsco…, Agent, Los Angeles, CA
Mon Mar 9, 2009
Hi L schweitzer,

You might want to consider the Palms/Mar Vista or Hancock Park/Mid Wilshire area for condos in this price range. There are some foreclosures and regular sales around $300K and under for 2 bedrooms and 2 baths and these locations are central, nice areas for other potential renters.

When is a good time to buy? That's a great question. My philosophy is: if you find a place that works great for you and you're comfortable with the payments, consider purchasing! We won't know when the bottom of the market is until it's already going back up. There are a lot of great deals out there that I know about.

Best Regards,

Grant Linscott
Keller Williams Realty
323.333.6222 Cell
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