Real Estate Trends for in East la

Asked by Lilly, 9005 Wed Jul 18, 2007

i am a phd student at UCLA and am considering buying a home with my parents financing. we are looking to spend under 400K and it seems that EastLA is most feasible for this range. I've been looking particularly at Lincoln and Montecito Hts. Does anyone have any insight into these area or suggestions for other areas that won't be such a terrible commute or are near public transportation?

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Jon Sterling, , Aspen, CO
Wed Jul 18, 2007
I would find a local real estate professional who has a website that allows for "map searching." There is a similar function here on trulia, but a local person with direct access to the MLS will probably be able to help you best. Good luck and happy hunting!
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Ron Deutsch, , Los Angeles, CA
Wed Jul 18, 2007
What about forming a TIC with other like-minded individuals (possibly other UCLA students)? You could possibly buy a 4-plex, say, for 1.6M that is MUCH closer to campus,and for a small legal fee create a tenancy in common, such that you each own a fourth of the building, and each owner has exclusive usage rights to her unit. The resale would be great if it's in a good spot and you maintain the property well, because it will be cheaper than a condo for the new buyer, yet you'll have added equity by creating the new ownership structure.
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