Blog - Archive for ‘Investor Easy Riding’

Los Angeles Reconstructed

July 11th, 2012

As the debate continues over the state of the Real Estate market, developers and entrepreneurs build their own future by creating an ‘up’ market reconstructing the urban Los Angeles landscape.

Be it in Downtown L.A., Hollywood Hills, West Hollywood or the many adjacent areas, it’s nothing new driving down a city block where there might be several homeowners in default, the occasional bank owned foreclosed home and suddenly a construction site for a new mixed use development, new luxury home or fix and flip.

Builders, developers, investors, even some savvy Real Estate agents have been capitalizing on the low cost of money and plentiful distressed inventory.

Properties that are incredibly well priced may entice the average buyer but they are realistically out of reach. Boarded up or with too many health and safety violations to list, the average buyer cannot get a loan on these properties so its open territory for the buyer with “All Cash” to pick up and restore. They are refurbishing property in too poor condition for your conventional loan to then put back on the market like new and lendable.

Old distressed mini malls and vacant lots in bustling Los Angeles urban locations are also being picked up, coming back reconstructed as vibrant mixed used developments with condos, apartments, retail, restaurants and hotels. Construction sites are popping up everywhere. Inventory is thinning and competition for prime property increasing. Could the bottom of the Real Estate market have passed us up? You decide.

Investor Easy Riding Part 2

June 12th, 2011

Fourplex for $235,000.00

One year ago I published a blog titled Investor Easy Riding, May 15th, 2010 to be exact.

Today there is even greater opportunity. Inventory seems limited since the banks are not flooding the market with the foreclosures on their books. One needs to keep a constant open eye for the values and it will yield results. Competition is high and cash remains king in this game.

However, even with cash in your coffers beware that the lender is slow to respond. Going after a REO (lender owned) or Short Sale means having the patience and tolerance to deal with multiple offers and overworked agents. This is not for the meek, but, for those willing to duke it out, there are rewards.

Downtown Duplex

Downtown duplex $125,000.

Take for example a 4-unit building near USC for under $250,000.00. A duplex near Downtown for $125,000.00. While rents continue to rise and the need for apartments increases, there is guaranteed income in these fixer uppers.

The value does not stop there. During the boom years many amateur developers jumped in the game. Buying up vacant lots and building single-family homes on them. As the market started its rapid decline many of these start ups went cash poor, when the line of credit dried they could no longer continue funding these projects resulting in unfinished buildings being foreclosed. These are starting to hit the market loaded with every amenity possible from stone counter tops, stainless appliances, central air and heat, crown moldings, stone fireplaces, bathrooms with spa tubs, beautiful wood floors and some with spectacular views.

Stay tuned for some exceptional values on vacant land, unfinished new construction and luxury Real Estate. Visit this blog or for more information fill in the contact form at www.lametrohome.com

Investor Easy Riding

May 15th, 2010

So you have a ton of money in the bank and don’t know what to do with it? Believe it or not there are many people in that situation. Even in today’s financially challenging times there are those with plenty of money in the bank who have accepted that maybe the real estate market in L.A is prime to start buying again and where better to buy then where there is a large pool of foreclosures with a dense population of families in need of housing. Investors, welcome to South Los Angeles. Here property affordability is very high. A two-bedroom 1 bath property can be found in the 150 to 200 thousand range and multi-unit buildings have been known to go for not far from those figures. Often thought of as a dangerous area fraught with crime and social unrest, there is plenty of opportunity for those not easily fettered. No matter what the reputation, primarily due to the collective few who claim the streets in pocket areas, there is a community of hardworking families, students, aspiring young people looking for shelter.  Clean, updated, secure, well-managed apartments can be a challenge to find presenting an opportunity for those who have the cash to buy run down and distressed housing, refurbish these buildings and offer them up to a market willing to pay top rent for a quality home, duplex or apartment. Make no mistake there is much pride of ownership here, you do not have to drive far down one of the residential blocks to find homes with well-groomed lush green lawns, freshly painted porticos and doors. Charming early century bungalows mixed in with more contemporary builds give the community much originality and character. And the inhabitants of these little gems spare no time in sharing their appreciation for your contribution in making their community a more beautiful place to live. Property pictured here can be found at www.lametrohome.com featured properties.