I plan to view 3 properties priced under $290,000 in Canoga Park tomorrow morning. Details will follow on these tear down opportunities ASAP. Until then, keep on looking for investment opportunities and send me any new ideas you have!
Tuesday, April 22, 2008
Moving Takes Me Away From Blogging
I have not been posting because I just moved into my new 3 bed, 2 bath home in NoHo. Unpacking, setting up my office, and maintaining my duties for my clients has dominated my time. I will be posting again soon.
I plan to view 3 properties priced under $290,000 in Canoga Park tomorrow morning. Details will follow on these tear down opportunities ASAP. Until then, keep on looking for investment opportunities and send me any new ideas you have!
I plan to view 3 properties priced under $290,000 in Canoga Park tomorrow morning. Details will follow on these tear down opportunities ASAP. Until then, keep on looking for investment opportunities and send me any new ideas you have!
Wednesday, April 2, 2008
If You Live in the UK, You Should Be Buying Real Estate In Los Angeles and California
For the past six months, investors from the UK have been contacting me about buying in Los Angeles. It makes sense: People from the UK can come to the states and double their money because of the extremely favorable exchange rates.
There are also cultural factors that contribute to the people in the UK understanding the benefits of owning Real Estate. If I lived on an island and was part of a culture with a long history, it would be very clear to me who the economic winners of the world are (hint: they all own real estate as their primary long term investment vehicle).
I have noticed that many of the people from the UK and other foreign countries have a lack of knowledge about the regulations and restrictions about who can own Real Estate in the USA. The answer: ANYONE can own Real Estate in the USA without restriction or applications or any other hindrance to the ownership and legal use of the property.
People who do not have a credit history in the USA will have to put a 30% down payment up to get a mortgage. But hey, when you are doubling your money that may as well be 15%! So for you investors with long term aspirations of owning many properties in the USA, start your credit history today! Talk to Katy Lin about credit, loans, and all the specifics at: (949) 981-2256
Take a look at my six month history for my web site, http://RealVana.com . The number of visits from the top ten countries are listed below. Traffic from the UK outnumbers the traffic from both the USA and Canada combined!
Also, we are always looking for more Realtors to join my site at RealVana.com . We are currently in the development stages, but would be happy to add your MLS listings to the site. If your territory is a different state than California, call me @ (818) 726-5982. The first to reserve a territory gets it locked in.
There are also cultural factors that contribute to the people in the UK understanding the benefits of owning Real Estate. If I lived on an island and was part of a culture with a long history, it would be very clear to me who the economic winners of the world are (hint: they all own real estate as their primary long term investment vehicle).
I have noticed that many of the people from the UK and other foreign countries have a lack of knowledge about the regulations and restrictions about who can own Real Estate in the USA. The answer: ANYONE can own Real Estate in the USA without restriction or applications or any other hindrance to the ownership and legal use of the property.
People who do not have a credit history in the USA will have to put a 30% down payment up to get a mortgage. But hey, when you are doubling your money that may as well be 15%! So for you investors with long term aspirations of owning many properties in the USA, start your credit history today! Talk to Katy Lin about credit, loans, and all the specifics at: (949) 981-2256
Take a look at my six month history for my web site, http://RealVana.com . The number of visits from the top ten countries are listed below. Traffic from the UK outnumbers the traffic from both the USA and Canada combined!
| Country | Visits |
| UnitedKingdom | 3437 |
| United States | 1332 |
| Canada | 1039 |
| Australia | 758 |
| Germany | 379 |
| India | 271 |
| Mexico | 251 |
| Ireland | 238 |
| Spain | 138 |
| New Zealand | 137 |
Tuesday, April 1, 2008
Turnkey Duplex
11670 Erwin Street, North Hollywood, CA 91606
The Numbers:
-$45,000 down payment (asking $469,000 but should sell for as little as $450,000)
+ $9,000 credit back from purchase
- $3,650 for adding a feature, shade, and painting front patio
= $39,650 total cash outlay
+$2,900 current potential combined rent
-$1982.81 mortgage payment (10% down, interest only, owner occupied @ 5.875%)
= $917.19 profit per month without any work
This property does not have a private feature. It also has a small shared backyard, an unfinished front patio, and a dilapidated common wall. By adding a plug in spa, inexpensive landscaping in the back, and two $299.00 canopies, you will have added large amounts of value for both units in the form of a lush, private spa.
Painting the front patio will add to the curb appeal (the valuable first impression). You should be able to rent both units for $3,450 combined after making these small fixes.
The Final Numbers:
$3,550 combined rent
- 1982.81 mortgage payment
-$562.50 tax payment
= $1,004.69 Profit after all major expenses
This income property is quick, clean, and permitted!
Call me to view this property or similar properties at (818) 726-5982 OR email me at Realtor.MG@gmail.com
To get info on qualifying for a loan on this or other properties, call Katy at (949) 981-2256
To view more properties in any area, go to http://realvana.com to search for free, with no registration required.
If you have a property that you would like me to feature here or if you currently own one that you think needs my advice on how to optimize its income potential, contact me here!
-$45,000 down payment (asking $469,000 but should sell for as little as $450,000)
+ $9,000 credit back from purchase
- $3,650 for adding a feature, shade, and painting front patio
= $39,650 total cash outlay
+$2,900 current potential combined rent
-$1982.81 mortgage payment (10% down, interest only, owner occupied @ 5.875%)
= $917.19 profit per month without any work
Painting the front patio will add to the curb appeal (the valuable first impression). You should be able to rent both units for $3,450 combined after making these small fixes.
The Final Numbers:
$3,550 combined rent
- 1982.81 mortgage payment
-$562.50 tax payment
= $1,004.69 Profit after all major expenses
This income property is quick, clean, and permitted!
Call me to view this property or similar properties at (818) 726-5982 OR email me at Realtor.MG@gmail.com
To get info on qualifying for a loan on this or other properties, call Katy at (949) 981-2256
To view more properties in any area, go to http://realvana.com to search for free, with no registration required.
If you have a property that you would like me to feature here or if you currently own one that you think needs my advice on how to optimize its income potential, contact me here!
THE Reasons Why You Should Buy California Real Estate Now (Part 1)
There is so much press out there talking about how the housing market is going to hell in a hand basket (I’m looking at you, socalbubble). Phrases like, “California Real Estate Market Continues to Crash” are being thrown around.
Image via WikipediaThat doesn’t even make sense! If you are going to call a pricing downturn a “crash” or a “popped bubble”, it should happen suddenly, right? This is simply not the case with our gradual, predictable, and cyclical Real Estate pricing adjustment that we are experiencing here in Southern California .
As you can see, there is an obvious pattern here. There is a cluster of points at the end of 2004 all the way to the beginning of 2007. Each of these points is a piece of Real Estate that was purchased and now has a notice of default (NOD) filed against is by the lender on that property. All of these points represent a home that is behind on its payments to the bank. 
Image via WikipediaThat doesn’t even make sense! If you are going to call a pricing downturn a “crash” or a “popped bubble”, it should happen suddenly, right? This is simply not the case with our gradual, predictable, and cyclical Real Estate pricing adjustment that we are experiencing here in I contend that it is downright irresponsible for these authors and bloggers to try so hard to push this “bubble” concept on the public. The dotcom bubble was a true bubble, this is just predictability at its best. The people who stop listening to the nay sayers and start looking at the facts will profit.
Here is the stuff others aren’t telling you because it is fashionable to be negative and go along with the crowd. This is part 1 of a series without a defined ending. This is why you should be buying right now.
Foreclosures are an Opportunity, Not a Warning Sign
The vast majority of homes that are now facing foreclosure have been purchased within the last few years by speculative or uninformed buyers. This graph shows over 1,000 notices of default (NOD) that have been filed during the week of 10/22/2007 in Los Angeles County and the dates that the property was purchased.
These purchases were fueled by ever loosening lending standards from the banks and fraudulent activity from mortgage brokers.
Many borrowers got what I call “Frankenstein Loans”, because these loans should have never existed. Mortgage products like negative amortization loans allowed people who could not afford homes to buy despite the price barrier.
This is what allowed housing prices to extend past equilibrium into unsustainable territory. That was the time for you to sell, while money was cheap or free to borrow.
This is the situation that gives rise to opportunity. For those of us who didn’t ruin our credit, didn’t buy an overpriced piece of Real Estate, and saved up cash, now is the time for you to buy. Here is why:
This is a graph of those same notices of default (NOD), but now it displays the amount of money in default.
In fact, the vast majority of defaults are below $50,000! For this amount or less, you could gain ownership of one of these properties.
There is a vast body of writing on how to turn these “pre-foreclosures” to your advantage. I will not review them, but many of these systems work well. But be warned: Chasing foreclosures can be a full time job. Learning about them is another matter entirely.
For those of you who want to do the footwork, I will be posting free foreclosure and notice of default lists for download. Additionally, we will be releasing free software that will allow you to search and navigate through all of this information without downloading it.
Fortunately, there are many good deals available on foreclosed Real Estate available through traditionally marketed properties. These are called REOs. After a bank has foreclosed on a property, many times they will put that piece of Real Estate on the market with a Realtor. At least one lender I know reduces the price of the homes by 5% each month until it sells. It is a game of waiting and watching for the right deal.
Click Here to add your name to a list of interested buy-and-hold investors. Indicate where and how much you want to invest in your message.
Look for my next installment, part 2: The Real Estate Market Cycle and Irresistible Market Forces
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