Some Downtown L.A. loft condo buildings such as SB Grand lofts and a few others have issues that can make it difficult to finance units in the building. The reasons often involve high renter ratio, mixed-use, industrial or commercial buildings and incomplete or minimal HOA financial documents. Can buyers get a mortgage in these buildings? #unwarrantable #condos #dtla
Yes, it can be done. When a condo project is deemed non-warrantable, the choices that exist will usually come at slightly higher mortgage rates and fees than a conforming or “warrantable” loan. The lender generally needs to have appropriate portfolio investor connections or investors “in house” that make exceptions for non-warrantable condos. The DTLA agents and brokers who specialize in these most challenging of lofts only know of 2 or 3 lenders who can make it happen.
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Loft Hacks – Top 10 Tips and Tricks in Downtown Los Angeles Real Estate
Downtown Los Angeles real estate is competitive. More than half of buyers sift through limited inventory only to be outbid by another buyer when they place an offer on an amazing loft. The most successful buyers, seller, renters and landlords made the best decisions when they had the best information on properties, and when they had a sharp eye on their competitors in the real estate marketplace. How did they do it? #dtla #lofts #hacks #tipsandtricks
Now that we know what the top real estate competitors investigated before they successfully completed transactions in Downtown L.A. real estate, we will delve deeper into why they looked at these topics, requested more information on these top 10 subjects and then implemented the knowledge to accomplish their lofty goals.
This is the where they got started. As the authority of DTLA residential real estate, the L.A. Loft Blog attracts the largest number of real estate blog readers, and receives the largest number of information requests (on the greatest number of relevant topics) from those who have achieved profit and distinction. By viewing usage statistics from tens of thousands of readers, paying special attention to those who have closed escrow or signed a lease, we can correlate the most powerful information that helped them beat out all competitors to the best deals. Here’s how they did it:
It’s all about the properties. After they get a good sense of the loft and condominium inventory in the Downtown Los Angeles area by looking at the available lofts for sale or lofts for lease online, the astute called the LA Loft Blog property viewing hotline to request an expedited showing. They read and asked questions about the lofts, buildings and neighborhoods (213) 880-9910. They looked up info and asked questions about Live/Work Lofts Downtown LA vs. Residential Studio Apartments. Shiny, sparkling clean lofts and condominiums with the latest state-of-the-art architecture and amenities, with the most modern kitchens and bathrooms can be found in the new homes. The New Lofts Interest List allowed the coming victors to know about new construction and even to see the new builds while still under construction by the developers. In addition to low purchase price and low HOA dues, the triumphant gleaned information about how to save thousands of dollars per year on property taxes with Mills Act historic lofts. Getting a low interest rate while preserving cash with a low down payment loan is most commonly achieved with an FHA or VA loan, while a low-down loft loan is the preferred choice in Downtown L.A. All condo buildings in DTLA have issues, so the prosperous found out in advance what was going on with all of the lawsuits and litigation in the desired buildings. Lastly, the effective buyers, sellers, renters and landlords checked into pocket listings so they would not miss what was happening with the best deals in town, the unlisted lofts and condominiums that are not on the internet. Congratulations on gaining the most valuable insight from the victorious on how they beat their competitors and completed successful real estate transactions in the most exciting place on earth. “To the victors go the spoils!”
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