All Forum Posts by: Kelly Wali

What areas are you specifically interested in I am a Broker and looking for myself as well are you looking for single family , multi units, or condos,  also let me know your price range, I may be able to help

There are areas in Southern California that are still affordable and there is government grants to help with the down payment to purchase homes in these areas. Los Angeles county has Antelope Valley which is very affordable.  It seems like everyone just wants the more congested areas which is why rents are going higher and higher.  Owning an apartment building in the more populated cities is a very hot commodity and will continue to be so.

Besides the obvious office rent, phone, internet, website costs, lic fees, your e and o will run about 1000-1300 per year.  Once you join your local mls you will have a ton of resources,  If you plan on hiring agents you will need to upgrade all services including your zip forms for brokers.

A great option for agents and licensed investors is to go for a flat fee Real Estate Brokerage.  We at am-luck charge $350. flat fee per transaction there are many companies with this form of structure.

The following article is from the National Association of Realtors, It completely makes sense it is the agents knowledge, work ethics and personality that makes the deal not the name of the company.

Article from NAR;

you know the names, even if you're only a casual observer of the real estate market. Coldwell Banker, Re/Max, Century 21. The list goes on. And so do the ads, because national real estate brands blast away at consumers with marketing that ranges from TV spots and local signage to search engine optimization and social media. Clearly, competition is fierce for those brands. But if you're a buyer or a seller, does the brand name really matter?

The choice

Of factors that go into picking a real estate agent, some evidence suggests that brand name isn't important. According to data from the National Association of Realtors, only about 3 percent of buyers and 4 percent of sellers report considering an agent's association with a particular firm to be an important factor in hiring that agent

Read more: http://www.bankrate.com/finance/real-estate/does-brand-matter-pick-agent.aspx#ixzz3oSoensEf
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All offers must be submitted unless the Broker and the Seller have an agreement that offers below a certain amount will not be considered.

What part of Los Angeles, some parts ea. Woodland Hills, Sherman Oaks, Chatsworth, etc. these areas have very few flat buildable lots, and the cost of building on them will be very high. Other rural areas such as Palmdale , Lancaster etc. are dirt cheap for a good reason. But if it is a flat parcel  in a built up area you should have no problem, (if the price is right)

If you have good tenants in place, I would let it be and refinance.  Of course you have to do the math.  What will the refi or cash out cost you?  Have you found another property? If so what is your projected profit? If the numbers look good, and things are going smoothly with this property, why not have your cake and eat it too.

No the park does not require to move it upon sale. the previous owner has been there nearly 20 years. since park rents are rent controlled the park can raise the rent additionally when the owner changes but no more than 10 percent. There are very few homes in this park that have sold in the past 3 years 2 sales to be exact one is for sale at 79k but it is a 2003. It is a family park the only one in the neighborhood. I'm new to the manufactured home world,  but do come across really cheap mfh's that need to be moved and it costs about 3k (depending on the distance) to bring one in and set it up. So i figured if i can get even 5k for this one and buy a newer one for about 20k plus 3k for set up.  It should be worth 70 or 80k.  what do you think? I really appreciate your time you ask some very good questions.

To do or not to do. I found a great deal on an older but very well maintained manufactured home in the a very nice area of san Fernando valley.  the only problem is that the banks don't want to loan on it because it is pre 1976  I don't mind buying it cash or with some hard money.  My only concern is I will have just as hard of a time selling it.  The price is only 35k and needs some minor updating approx. 1500.  at most. So many options here the home itself is not worth much but because the lot has a very low rent. less than 800. when all others in the park are going for 1200-1500.  I am debating to buy fix and list.  Or sell the home to be removed and replaced with something much newer.