Tag: condo

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The Skyrocketing Cost of Downtown – Los Angeles Rentals Get More Expensive

As the Downtown community grows rapidly, and rents continue to skyrocket, will the next wave of housing create more up affordable homes? Probably not, says the Los Angeles Downtown News.

Downtown Los Angeles Loft Rentals
Downtown Los Angeles Loft Rentals
Downtown is now brimming with a population of more than 50,000, and is in the middle of a housing boom that has made it one of the hottest real estate markets in the USA.

Billions of dollars have poured into the community in the past 10 years, while additional billions are already in the works.  According to the Downtown Center Business improvement District, more than 9,000 apartments and condos are under construction and another 13,500 units are being proposed.

When Downtown was more empty and gritty during its 1960’s to 1990’s decline, only a few bold artist types and a few Downtown business people lived here.  Now Downtown appeals many more who are seeking an exciting urban home that is walkable to many new shops,  restaurants, entertainment and public transportation.  The mainstream crowd is now on its way.

Downtown has created a large number of tech and media jobs recently, raising the average income, and allowing higher rents. Land costs have gone up, and the City of Los Angeles creates higher prices with more bureaucracy and limitations on apartment construction.  It takes months or years to just to get construction started in L.A. The results is rents that are up by 10.4% in a 12-month period.

Like the rest of America, the middle class is getting squeezed out of Downtown by policies that increasingly favor the wealthy and the poor, while ignoring the hard-working person who would like to move to Downtown.  In 2012/2013, the state and federal governments both stopped several programs to help the middle class to rent and buy in Downtown.

LOFT & CONDO LISTINGS DOWNTOWN L.A.  [MAP]

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SEARCH LOFTS FOR SALE UNDER $400,000  |  $800,000,  |   $10,000,000
Browse by Building  |  Neighborhood  |  Size  |  Bedrooms  |  Pets  |  Parking

ASCENDING ORDER (low to high)    |    DESCENDING ORDER (high to low)

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Copyright © 2015 This free information provided courtesy Corey Chambers, Realtor, Realty Source Inc BRE#01889449 We are not necessarily associated with the owner or management. For more information, contact (213) 478-0499 or visit LAloftLease.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, seller or renter is already under contract with another broker.
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If You’re Going to Buy in Downtown Los Angeles, BUY BIG ! ! !

Investing and Gaining Big in Downtown LA

The largest investors in Downtown Los Angeles have been placing bets of $100 million to $1 billion.

warehouse1-barker-block

How much are you betting on Downtown LA?  You don’t need a billion; there are still great investments for less than $400,000.  The rewards are huge.  Here are some examples:

After a great deal of looking, consideration and due diligence, investment professional John M. purchased an industrial loft in Downtown in 2012 while prices were still depressed, buyers were still generally broke or afraid, and, to top it off, the loft building was involved in a lawsuit.  John got assistance from an experienced Downtown loft specialist team of agents who were able to tell John exactly what was happening in the distressed industrial loft building.  The loft purchase made about $250,000 profit in equity for John in less than 3 years. Needless to say, John is extremely happy with his Downtown investment that.

The best time to plant a tree was 20 years ago. The second best time is now.”  —  Chinese proverb

The slowpokes who waited several years to buy only made a meager $50,000 to $100,000 in equity in the last year or two.  They did much better than the average Downtown renter who lost about $60,000 in the past year or so when you add the rent paid to the lost opportunity cost by not owning.  For those who did not buy real estate during the last 3 years, I hope that they invested in something other than their landlord’s mortgage.

LOFT & CONDO LISTINGS DOWNTOWN L.A.  [MAP]

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SEARCH LOFTS FOR SALE UNDER $400,000  |  $800,000,  |   $10,000,000
Browse by Building  |  Neighborhood  |  Size  |  Bedrooms  |  Pets  |  Parking

Whether you plan to live there, flip or rent out, Downtown investors have best return on their investment when they know which loft and condo buildings make the best investments, which lenders will lend on a commercial or industrial loft conversion, and what is going on with the lawsuits involved with more than 20% of the listings.

Traditionally, the best investments have been foreclosures, distressed properties, short sales and other obvious bargains.  Today, there are virtually none of these. Investors must find properties that are distressed using lesser known criteria such as owner equity level, ownership years, location, legal disposition of building and other criteria that make for a really profitable investment in Downtown Los Angeles.

Get a free report with the Top 5 Best Investments in Downtown.  Fill out the online form.

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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) 478-0499 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.