New Homes: River of Tears – Three Mistakes to Avoid Before Buying a Condo by the Water

New Construction Houses and Condos For Sale in Los Angeles

Bright, shiny, new, clean, modern and up-to-date  —  these are the happy things that lure us to new construction homes. Because developers create a glut when they build dozens at a time, they can even make for a better deal than a resale home sometimes. But what dangers do a shiny new object distract us from?

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There are three areas of thought that can help prevent disasters before a prospective new home buyer considers a walk into a new homes sales office:

#1 Leaving the checkbook at home will not protect.  —  Just browsing? Better plan ahead; and here’s why:  As soon as someone steps into the sales office of a new home development, they are asked to sign in.  That signing in seems innocent and safe enough, but it is often the first and biggest mistake in the process.  Most who stroll in to see new fox-in-hen-househomes instinctively know that they will probably not purchase a home there, but they are rightfully curious. The first problem is that the buyer has unknowingly signed away their right to get free help from a licensed real estate professional. Unless they are accompanied by an agent or broker on the very first visit, the buyer has actually agreed to give away their free protections given to them by the laws of the great state of California.  The innocent visitor has waived rights to free representation by a local real estate professional.  Should they fall in love with the new condo or house, the buyer now has but two choices: buy the home directly from the developer’s sales team without the assistance of a knowledgeable professional — or do not buy a new home at that new development.  The visitor has inadvertently hired the fox to guard the hen house. The first step of the buying process has begun, and possibly on the wrong foot.

#2 Today’s home buyers in Los Angeles have high standards, which might not
be met.  
Home shoppers want a clean, quiet home with open space, high ceilings, lots of
train-noise-vibration-jpgbig windows and light, a pretty view of some kind, architectural character, neighborhood safety, convenient parking and walkable to coffee, shops, entertainment and public transportation.   Some of the shiny homes in today’s new construction market suffer instead from excessive freeway noise or train noise, gnat swarms, boxy architecture, small windows, freeway view or no view, inconvenient tandem parking spaces, dangerous raceway bike path and prowling coyotes. Some new homes for sale do not yet have final approval from the City of Los Angeles, and in-house lenders sometimes experience big delays, so the sales could potentially be delayed many months.

Some new park-side houses under construction near the river have a land lease so that the owner does not really own all of the property.  This limits the long-term value of the property because the land lease impact snowballs to a greater and greater negative factor over time.

#3 The Los Angeles River will flood – The area around the river is a flood plain.  The city los-angeles-flood-02has prepared for a major flood to happen about every 100 years. It could happen in a thousand years, or it could happen next winter. While the new homes may not technically be inside the official flood zone, the concrete LA River has nearly overflowed its banks before, and, sooner or later, it will flood neighboring homes and businesses, especially underground parking, ground level, first floor and possibly even flood 2nd-floor units.

Homebuyer Protection Programs

When the buyer does find the right home, they must face competition from the seller and from other buyers. In today’s real estate market, there are a relatively large number of buyers, and few sellers. Most buyers are unpleasantly surprised that they are usually outbid by other buyers or sometimes virtually ignored by the seller. To have a good chance of success in the current home buying environment, buyers can take advantage of strategies that help them to beat out other buyers to the best deals by getting priority access to all of the properties. This includes getting access to the largest number of pocket listings, off-market, unlisted and unadvertised bargains. Buyers are more satisfied with their home purchase when they get access to the pros and cons, including the negative information on properties such as lawsuits and litigation, along with undesirable construction and defects that sellers sometimes try to ignore or even hide.  Buyers want to understand the neighborhood and know what is going on and coming up in the neighborhood.  Like a fly-by-night used car lot, new home sales offices typically pack up and leave town after they reach their sales goals. Rather than relying on a sales office agent, or a friend/relative who happens to be an out-of-area agent from another neighborhood, smart home buyers take advantage property-dtla-value-heat-map-2of specialized neighborhood knowledge combined with the latest real estate technology such as a neighborhood heat map. Buyers get the best home purchase terms, incentives, loan rates and fees when they have access to compare several local lenders who know the building.  Buyers avoid expensive mistakes when they get help scheduling a local inspection company who specializes in that type of building in that area.

The most serious and astute of home buyers consider all of the costs and possibilities to save as much money as possible on their home purchase.  A local neighborhood specialist
often knows what the bottom line is for the seller, allowing the home buyer to place the home-warranty-guaranteelowest offer rather than offering tens of thousands of dollars too much on a desirable new home.  A  savings guarantee can ensure that the new home buyer can negotiate down $10,000 from the asking price or the agent pays $1,000 toward the buyer’s closing costs – visit www.Save10Grand.com.  A Free Home Warranty could cost the buyer $575.00, but some agents will offer to pay for this if the seller won’t pay for it.  Usually, nothing is guaranteed in real estate.  It is all too common for buyers to buy a new home, then find out they don’t love it as much as they thought.  There is a solution: The Love Your Home Guarantee. Get the details at www.LoveYourHomeGuarantee.com

love-your-homeThe take-away.  Always bring a local neighborhood specialist real estate professional before browsing any new construction condominiums or houses.  It’s free, and the right Home Buyer Protection Program can prevent numerous problems while giving many surprising benefits at no cost to the buyer.

Get as much free information as possible by getting on the new homes interest list.  Fill out the online form:

LOFT & CONDO LISTINGS DOWNTOWN LA  [MAP]

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SEARCH LOFTS FOR SALE UNDER $400,000  |  $800,000,  |   $30,000,000
Browse by Building  |  Neighborhood  |  Size  |  Bedrooms  |  Pets  |  Parking  |  More

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Copyright © 2016 This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 We are not associated with the homeowner’s association, seller or developer. For more information, contact (213) 880-9910 or visit LAcondoInfo.com  Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.

From Downtown Lofts to Real Estate Investment Rental Income Properties from $33,000

America’s Best Investor Homes For Sale Might Not Be in Downtown LA

It’s been exciting to help million dollar buyers and sellers in Downtown Los Angeles. Today, I’m just as excited to help people turn small investments into immediate positive cash flow with infinite returns.

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corey-ritz-dtla-eFrom L.A. Lofts to Infinite Income:

Hi I’m Corey Chambers. You know me as the Downtown Los Angeles real estate professional, publisher of the LA Loft Blog and the SoCal Home Blog. Overall, nothing beats the Southern California lifestyle, and that is why Southern California real estate has been a great investment for many decades. My most recent client is very happy with their purchase of an amazing penthouse level loft with lots of windows and light in the most creative neighborhood in the world, the Arts District of Downtown Los Angeles. Congratulations to them!! But, the fact is that most potential real estate investors do not have $700,000 to $900,000 cash to buy an Arts District loft.

income-properties-02Today, we’re helping clients build property wealth one property at a time. We are a real estate investment network that provides training, consulting and support. We help our clients by identifying properties where we’re buying real estate right. We’re maximizing cash flow. We’re leveraging where possible and using rental income to pay the debt down. The ultimate goal is free and clear ownership of income-producing properties. We have rental homes that are fixed up, professionally managed and rented out for $800 a month — priced at about $40,000. We have multi-family properties with astounding cash flow but most important in this whole process is that when you’re ready to invest, you contact us for a free no-obligation consultation where we can customize an investment plan that is a specific fit to your goals. Get a free report by calling our 24-hour recorded hotline 1-800-791-4541 ID#8087 or online at www.CoreyChambers.us

LOFT & CONDO LISTINGS DOWNTOWN LA  [MAP]

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SEARCH LOFTS FOR SALE UNDER $400,000  |  $800,000,  |   $30,000,000
Browse by Building  |  Neighborhood  |  Size  |  Bedrooms  |  Pets  |  Parking  |  More

income-properties-33k-nagel-roseville

DISCLAIMER: This is not intended to be an offer to sell nor a solicitation of offers to buy real estate in states where registration is required prior to any offer being made or in any other jurisdiction where prohibited by law. The L.A. Loft Blog is referring potential buyers only and does not represent buyers or sellers in any capacity on out-of-state real property transactions. Real estate ownership involves risks which buyer assumes. It is your duty to do your own due diligence. Read all documents and agreements before signing anything. It is your duty to consult with your own legal financial and tax advisers regarding any real property transaction. Out of state property transactions are not represented by a California real estate broker and the L.A. Loft Blog does not create market sell or refer anyone to securities offerings.

Positive Cash Flow Income Properties from $39,000 – How to Get More For Less

While most Downtown LA homes are now selling at a negative cash flow, some investors are getting 6.6% to 56.6% Cash on Cash Return on America’s best turn-key investment income properties starting around $39,000.

This is really good news for Downtown and LA area prospective home buyers who are looking for good investments that they don’t need to live in. Many renters enjoy their lifestyle in Downtown, or sometimes highly mobile lifestyles, and they would like to own a property and possibly be a landlord of a rental property that can bring retirement income.

While Downtown LA lofts and condos have been superior investments for several years, not everyone can afford $400,000 to $800,000 or more to buy a property.  Also, the rents are no longer keeping pace with monthly mortgage, HOA and other expenses in the Los Angeles area.  For those who need an immediate positive cash flow, getting more a lot more money than paying out monthly, Los Angeles may not be the best place to invest in the current market.  There are other parts of the country that can possibly offer a better, much faster return on investment.  But how can someone in Southern California find, buy, repair, market and manage a property that is 2,000 miles away?

The best answer to the cash flow, repair/maintenance and property management questions may be turn-key tenant-in-pace investment income properties that have already been picked out by an experienced professional who has purchased hundreds of profitable bargain properties, already rehabilitated the properties, already hired proven reliable property managers, and has even already moved qualified renters into the homes. Imagine that — just about everything has already been done! Now a regular person can simply buy a bargain property and start receiving monthly rental checks from the management company.  If you think that sounds efficient, you are not the only one. Justin W. just closed on his income property a few days ago.  More are available. Check these out:

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To get a free report on these low-cost, positive cash flow turn-key properties, get a free report. Fill out the online form:

How well do these properties perform for the owners? How does it all work?  Happy investment home owners can say it best.  Here’s Justin’s story:

Corey did an awesome job, not only helping me end up with my first investment property, but also in helping me understand real estate investment in general.

We started by looking at lofts in Los Angeles and I wasn’t quite sure yet how I wanted to invest, but Corey was very patient with me. We looked at various lofts in Atwater Village, South Pasadena and downtown. At the end of the day, I decided that the prices for me at this time are too high in Los Angeles, so Corey introduced me to his friend, Alan, who helps people get investment properties all over the country that are connected to excellent property management companies, and have a relatively low price to buy and a high demand for rent. After some conversations with Alan and looking at a few spreadsheets he’d prepared about various properties around the country, I decided to take a look at some of them for myself.

On a cold morning in Detroit, I met Alan for breakfast and we headed out the suburbs of Detroit to look at some properties. They were all solid investments, mostly between 50-60k to buy, with rents between 7 to 900 per month, providing instant positive cash flow. We also met a representative from the property management company and he quickly put my mind at ease, running through their process for things like repairs, autopay, and filling vacancies. He said the only time they generally have trouble with tenants is when th owner gets too involved. All the tenants seemed happy and heard working, mostly young families. Wanting to be as hands off in that department as possible (due to distance and work schedule), I was happy to hear that they are proactive I that department. They also stay on top of repairs. Alan advised me to just go ahead and approve repairs right away. There’s no sense in trying to skimp or haggle with that sort of stuff. In the long run its better to be proactive with repairs, keep the property looking good and up to date, and the tenants happy.

After I returned home, I considered my options and settled on a nice, sturdy three bedroom on a quiet suburban street in Roseville, MI.

Alan was able to help me find a lender and facilitate the sale. In the time the property was in escrow, the place was rented to a family who I’m told love the place and have a newborn baby for more than I had been anticipating in my calculations. The property is already more profitable than I thought.

I couldn’t be happier with how the whole experience has gone.

Ultimately, this is the moral of the story. I told Corey what I wanted to achieve in terms of an investment (I wanted a low risk, low maintanence, positive cash flow investment in my budget), and he pointed me in the right direction and helped that dream become a reality. I was considering any number of terrible, high risk investments before I met Corey, and who knows what I would have done to myself. Alan was also instrumental in my education as well, having been in the real estate world for many years learning through trial and error. My hat is off to the both of you and I couldn’t be more greatful.

— Justin W.

nagel

Get more info on American’s best turn-key income properties at https://laloft.wufoo.com/forms/m70zadb0n958wg or call Corey at (213) 880-9910.

It’s been exciting to help million dollar buyers and sellers in Downtown Los Angeles. Today, I’m even more excited to help people turn small investments into immediate positive cash flow with infinite returns.

corey-ritz-dtla-eHi I’m Corey Chambers. You know me as the Downtown Los Angeles real estate professional, publisher of the LA Loft Blog and the SoCal Home Blog. Overall, nothing beats the Southern California lifestyle, and that is why Southern California real estate has been a great investment for many decades. My most recent client is very happy with their purchase of an amazing penthouse level loft with lots of windows and light in the most creative neighborhood in the world, the Arts District of Downtown Los Angeles. Congratulations to them!! But, the fact is that most potential real estate investors do not have $700,000 to $900,000 cash to buy an Arts District loft.

Today, we are helping clients build property wealth one property at a time. We’re are a real estate investment network that provides training, consulting and support. We help our clients by identifying properties where we’re buying real estate right. We’re maximizing cash flow. We’re leveraging where possible and using rental income to pay the debt down. The ultimate goal is free and clear ownership of income-producing properties. We have rental homes that are fixed up, professionally managed and rented out for $800 a month — priced at about $40,000. We have multi-family properties with astounding cash flow but most important in this whole process is that when you’re ready to invest, you contact us for a free no-obligation consultation where we can customize an investment plan that is a specific fit to your goals. Get a free report by calling our 24-hour recorded hotline 1-800-791-4541 ID#8087 or online at www.CoreyChambers.us

LOFT & CONDO LISTINGS DOWNTOWN LA  [MAP]

button        button (1)        

SEARCH LOFTS FOR SALE UNDER $400,000  |  $800,000,  |   $30,000,000
Browse by Building  |  Neighborhood  |  Size  |  Bedrooms  |  Pets  |  Parking  |  More

 

DISCLAIMER: This is not intended to be an offer to sell nor a solicitation of offers to buy real estate in states where registration is required prior to any offer being made or in any other jurisdiction where prohibited by law. The L.A. Loft Blog is referring potential buyers only and does not represent buyers or sellers in any capacity on out-of-state real property transactions. Real estate ownership involves risks which buyer assumes. It is your duty to do your own due diligence. Read all documents and agreements before signing anything. It is your duty to consult with your own legal financial and tax advisers regarding any real property transaction. Out of state property transactions are not represented by a California real estate broker and the L.A. Loft Blog does not create market sell or refer anyone to securities offerings.

 

Condos and Houses Outside of Downtown Grow in Popularity

Homes Near Downtown – Most Popular Neighborhoods

NEARBY HOMES FOR SALE   |   NEW LISTINGS

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More and more prospective Downtowners have been choosing instead to buy condominiums and single family homes outside of Downtown in the nearby neighborhoods of Glassell Park, Mount Washington, Hollywood, Lincoln Heights, Echo Park, Silver Lake, Highland Park, Pico Union, Koreatown, Boyle Heights, Northeast Los Angeles and South Los Angeles.  Here’s are the current homes for sale outside of Dowtown:

http://socalhomeblog.idxbroker.com/i/homes-for-sale-outside-of-downtown-los-angeles

Get new listings FREE in the most popular neighborhoods outside of Downtown.  Fill out the online form:

7 Things You Must Know Before Putting Your Los Angeles Home Up for Sale

seller-mistakes-rsiDowntown Los Angeles – A new report has just been released which reveals 7 costly mistakes that most homeowners make when selling their home, and a 9 Step System that can help you sell your home fast and for the most amount of money. This industry report shows clearly how the traditional ways of selling homes have become increasingly less and less effective in today’s market. The fact of the matter is that fully three quarters of homesellers don’t get what they want for their homes and become disillusioned and – worse – financially disadvantaged when they put their homes on the market.

As this report uncovers, most homesellers make 7 deadly mistakes that cost them literally thousands of dollars. The good news is that each and every one of these mistakes is entirely preventable. In answer to this issue, industry insiders have prepared a free special report entitled “The 9 Step System to Get Your Home Sold Fast and For Top Dollar”.

To order a FREE Special Report, visit www.SellerMistake.com or to hear a brief recorded message about how to order your FREE copy of this report call toll-free 1-800-791-4541 and enter 1000.

You can call any time, 24 hours a day, 7 days a week. Get your free special report NOW to find out how you can get the most money for your home.

Copyright © 2015 This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 We are not necessarily associated with the home owner’s association, seller or developer. For more information, contact (213) 880-9910 or visit LAcondoInfo.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.