Would it be possible to get ANYTHING in central downtown LA for under $100K?

Asked by Alexander Eden Robert, Los Angeles, CA Thu May 23, 2013

Hello,
I'm looking to buy a place in LA, but don't drive. I have around $100K cash set aside, but prices seem to have jumped up a bit!
Thanks,
Alex

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9
Melissa Hath…, Agent, Los Angeles, CA
Sun Nov 10, 2013
Not realistically. Prices downtown are much more expensive.
1 vote
Nice...
Flag Sun Nov 10, 2013
Jamie Tian, Agent, Los Angeles, CA
Thu May 23, 2013
Hi Alex,

Congratulations on your decision to purchase a property!

Yes, you are correct that prices have jumped a bit, but interest rates are still low and prices are trending up so it is still a great time to buy! However, there is not much inventory on the market so it is very competitive for buyers right now, but there are other things you can do to make your offer stronger!

Currently, there is only one property on the market under $150,000. It is a 460 sq ft studio listed at $109,000. If you are only interested in making an all cash purchase, it might be a little difficult, but I would be happy to send you more information about the property listed at $109,000 and keep you updated on any properties in that range.

Just so you know, with $100,000 down payment, if you have relatively good credit history and work history, you should be able to secure a loan with a great interest rate! I would recommend you contact a lender or two and get a free pre-approval to see how much you can get a loan for. If you can get a loan and increase your budget, there will definitely be more choices for you. I would be happy to recommend a few lenders to you.

Also, I would be happy to set up appointments to preview any properties you might be interested and drive you to showings if needed.

Feel free to contact me directly at (310) 717-1321 or JamieTian@RodeoRE.com with any further questions or concerns.

Best,

Jamie Tian
Rodeo Realty
(310) 717-1321
JamieTian@RodeoRE.com
DRE #01920120
Web Reference:  http://www.JamieTian.com
1 vote
Ted Trent, Agent, Los Angeles, CA
Sat Jan 4, 2014
I've been helping people find places since 2001. The lowest priced listings are now in the mid 200s if you have all cash. To learn more about Downtown Los Angeles living, visit http://www.LoftLivingLA.com
0 votes
omidanvaripo…, Home Buyer, 90066
Sat Nov 9, 2013
i have a bike for you for that price
0 votes
Richard "RJ"…, Agent, Beverly Hills, CA
Thu May 23, 2013
Yes... there are a couple condos.. very small but it can be possible. You can contact me directly if you are not already working with a broker and want some assistance.
0 votes
carlos parra…, Other Pro, Monrovia, CA
Thu May 23, 2013
Why don't you work with a local agent that can help you get financing to increase your budget and then find you something appropriate to your financial situation.
0 votes
Jason Ling, Agent, Los Angeles, CA
Thu May 23, 2013
Hi Alex,

Currently there are no properties available in the central downtown area for under $100k and with this market trending the way it is I don't foresee any coming on the market soon. Since you have around $100K cash and with interest rates still at all time lows, you should consider using it for a down payment on a property in the area.

Feel free to contact me I would be happy to help provide you with more information and guide you through the process.

Best,

Jason Ling
Rodeo Realty
(310)625 -5902
JasonLing@RodeoRE.com
DRE# 01920134
0 votes
Saul Galvan, Agent, Los Angeles, CA
Thu May 23, 2013
Begin your search at http://www.galvangroupla.com
0 votes
Josh Barnett, Agent, Carney, OK
Thu May 23, 2013
Maybe a billboard, but that will have to be verified.
0 votes
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