Downtown Los Angeles Investment – Top 10 Strategies for L.A. Loft Investors
10. Make use of all of the free Downtown real estate resources – LAcondoInfo.com has a home buyer’s library where investors can get free insider access to the best tools, special reports and resources. Visit LAcondoInfo.com for free access.
9. Get a Downtown Loft Specialist Realtor – A Downtown agent can give free information about what is really gong on in each loft building, at no cost and no obligation to buy.
8. Know what is in escrow – A Downtown Realtor can also share what is known to have sold in the past few days or weeks that has not yet recorded. Investors can also request a free list of recently sold Downtown lofts and condos at LAcondoInfo.com.
7. Cash Discounts – Most investors put down 20% or more, and thus are entitled to offer themselves a little discount of about 1% to 2% or more for all cash purchases.
6. Foreclosures and Distressed Properties – Bargains are there for those who seek them. Distress sales, foreclosures, vacant properties, large price drops and unlisted condos can offer superior investment value. Astute investors will recognize all types of distressed properties as opportunities to place a lower offer, including: more than 30 days on market, vacant, cluttered/unmaintained/improperly furnished can all leads to a better deal for investors. Another commonly missed opportunity is with properties that have an uncooperative tenant or otherwise cannot be shown regularly. These hard-to-show properties have less competition, and can often allow investors to place a lower offer.
5. Raw Lofts – Downtown is home to some loft units that have not yet been finished. Raw, unfinished lofts and fixer-uppers can sometimes be purchased for an extra discount of $100,000 or more.
4. Canary in a Coal Mine – Downtown continued to boom for more than a year after the rest of the country began collapsing in price in 2008. Downtown then began to boom more than a year earlier than the rest of the country in 2012.
3. Rental Comps – The fastest way to see the investment value of a Downtown loft or condo is a quick calculation of the Return On Investment based on the rental comps.
2. Lawsuits – More than 20% of the the listings seen online involve a building that has been the subject of lawsuits recently or currently. Litigation often interferes with lending, depresses prices, and gives an extra pop of big equity gains after the lawsuit is settled.
1. Investment Opinion – Because each neighborhood and each building is different in Downtown, it can be challenging to determine which building might make the best investment. A Downtown real estate specialist can give a free opinion based on years of observations. Investors can get investment opinions at no cost and no obligation to buy. Get new listings or request a free list of recently sold properties in Downtown.
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corey@laloft.org
http://www.LAloftBlog.com
Copyright © 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 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.