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Asked by Joypsalm91, California City, CA Sat Jun 22, 2013

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Answers

5
Douglas Lagos, Agent, Los Angeles, CA
Wed Aug 7, 2013
Hi,

One of my specialities is as an income investment agent. I am, and have bought/sold income rental units in the area, as an investor. As such, I can guide you as to what to look out for, and what to avoid.

I know the doubts you have, and can answer all your questions you have, just from my own experience, having been in your shoes.

Contact me at your earliest convenience.
0 votes
robbie sikora, Agent, Santa Monia, CA
Mon Jun 24, 2013
hello joy,

i hope all is well.

i'll cut to the chase. option 1 is NOT an option. the price point is too low. option 2 is feasible as there are currently (3) 2 bedrooms and (10) 1 bedrooms on the market for sale. our market here is fast moving so you really have to be financially prepared.

i'd be happy to further this conversation and help you along if you wish. let me know. my contact info is below. best of luck.

sincerely,

robbie sikora
310.710.5214
Gibson International
0 votes
Ron Escobar -…, Agent, Beverly Hills, CA
Sun Jun 23, 2013
Your question is very specific and narrow in focus. In order for me to give you good advise, I would have to understand your whole picture.

1.- Source of funds (can you leverage it and buy something with a loan or were these figures the max?)
2.- Why Santa Monica? What is your intent with this selection?
3.- How long are you looking to hold? What is your exit strategy?
4.- Is this a passive investment? are you counting on it to make your living?
5.- Are you a US Citizen/resident?
6.- What is your experience?
7.- Are you local?

so I guess you get the picture... my advise would be to help you maximize your investment and achieve your goals within the context of your financial reality... then I would feel comfortable talking about condos in Santa Monica for what price and any other alternatives.

Feel free to contact me if you have any further questions...

ron@select-realestate.com
0 votes
Sri Kesava, Agent, Venice, CA
Sat Jun 22, 2013
Realistically there are no properties for sale in Santa Monica in the $250-300k price range; perhaps a 1 bedroom that is currently occupied by a rent control below market rent tenant (and I would advise against purchasing that). You are better off buying 2 bedroom+ in the $500-600k range that is delivered vacant by an owner occupier and can be rented from the get-go at top market rental price. Santa Monica is a non-forgiving rent control City. The rental price you start at for your ROI is key, as you will not be able to raise the rent indiscriminately once the tenants are in - Click on my profile/read the recommendations and reach out if you think we are a good fit. All the best. westside.property@gmail.com
0 votes
Susan Bo'ur, Agent, Manhattan Beach, CA
Sat Jun 22, 2013
Hello,
I'd be happy to send you available listings directly to your email.
Best,
Susan Bo'ur Realtor
Coldwell Banker
Susan@SusanBour.com
0 votes
aileen777@msn.com thank you
Flag Sat Jun 22, 2013
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