tag:blogger.com,1999:blog-43854524400187361322012-02-16T03:22:20.210-08:00Candid Discussions of Los Angeles Real Estate, Investment Properties, and How to Profit From Them In Simple, Clear TermsMichael Gentilenoreply@blogger.comBlogger191100tag:blogger.com,1999:blog-4385452440018736132.post-71670750455542196142010-01-06T16:09:00.001-08:002010-09-06T23:39:40.798-07:00

I haven't been posting in a while, because my industry is stuck in the clutches of a menace: The government. There is no money to be made for most of us. The few that do have listings get them from the banks, and clear 1% to .5% of a profit after expenses generally. Business is slow, to say the least. Here is a letter I recently sent to another Realtor who was seeking help with closing a deal

Michael Gentilenoreply@blogger.com0tag:blogger.com,1999:blog-4385452440018736132.post-17201225894182829972009-06-29T16:33:00.000-07:002010-09-06T23:58:29.815-07:00

Hi Guys, A quick idea for anyone looking to invest with cash. Consider this: 1) You can buy some fairly clean 2 bed, 1 bath single family homes in many areas of LA for $200,000. 2) You can sell a turn key 3 bed, 2 bath home in the exact same area for $350,000 to $400,000. 3) The difference between these two sales prices is a minimum of $150,000. It does not cost $150,000 to add a bed and a

Michael Gentilenoreply@blogger.com0tag:blogger.com,1999:blog-4385452440018736132.post-28445526258400155732008-12-29T16:27:00.001-08:002008-12-29T16:28:52.759-08:00

Michael Gentilenoreply@blogger.com0tag:blogger.com,1999:blog-4385452440018736132.post-40915247391189936592008-11-18T17:28:00.000-08:002010-09-06T23:56:40.933-07:00

I am beginning a series of blogs about some of the new up and coming high end mixed use developments that are beginning to pepper the Los Angeles Real Estate market. The first of which is The Glen At Valley Glen, along Victory Blvd in between Coldwater Canyon and Woodman Ave. I am separating each blog so that the specifics are a self contained unit. Feel free to contact me with your own

Michael Gentilenoreply@blogger.com1tag:blogger.com,1999:blog-4385452440018736132.post-56257675135259746182008-11-04T16:21:00.000-08:002010-09-06T23:54:53.744-07:00

When writing an offer, whether it is to a bank or to an owner, you want to prove beyond the shadow of a doubt that you are the one buyer who will have NO problems closing escrow. This is a winning formula of documents that leaves nothing to the imagination of the seller: 1: The bank/broker prequalification letter- probobly the least important document in these times, because banks constantly

Michael Gentilenoreply@blogger.com0tag:blogger.com,1999:blog-4385452440018736132.post-38173494740796878442008-11-04T14:54:00.001-08:002010-09-06T23:53:33.670-07:00

Short sales stink. That is what I tell my buyers who are looking to buy a property to move into immediately. The MLS is flooded with homes for sale that are not truly for sale. The owners do not have the authority to sell the home, because they owe more on the home to the bank than they can sell the home for. This is what we call a short sale. So when I carefully select the homes that are

Michael Gentilenoreply@blogger.com0tag:blogger.com,1999:blog-4385452440018736132.post-55816847435496312882008-09-02T15:25:00.001-07:002010-09-06T23:52:27.278-07:00

I am in the discovery phase of building a wood burning pizza oven at my home. I found a site that offers instructions on how to build them. After contacting the owner, he requested that I write an article for him. Check it out: How Eating Pizza With Your Friends... Can Sell Your Home Faster and For More Money?!!? When the oven is done, we can eat some of the best pizzas around after we finish

Michael Gentilenoreply@blogger.com0tag:blogger.com,1999:blog-4385452440018736132.post-49480777673647548962008-08-29T18:04:00.000-07:002010-09-06T23:51:34.361-07:00

From San Diego to Los Angeles, Real Estate is moving fast. All of the negative press has mislead buyers. They are very surprised to find out that purchasing a home in Los Angeles at what is now a fair price is harder than they expected. Buyers need to be prepared to: 1) Write multiple offers 2) Be realistic about the price they can pay 3) Not hold out for the "perfect" home at the "perfect"

Michael Gentilenoreply@blogger.com0tag:blogger.com,1999:blog-4385452440018736132.post-26288222585773979862008-06-28T12:34:00.000-07:002010-09-06T23:50:20.430-07:00

No one enjoys paying taxes. Some people may feel it is their duty as Americans to contribute to the wasteful, bloated system that we call government. If you let them, the IRS will take your money and redistribute it to someone else through a government contract, a government job, or an entitlement program. The only way someone can create wealth is by controlling when and how they pay taxes.

Michael Gentilenoreply@blogger.com1tag:blogger.com,1999:blog-4385452440018736132.post-19171020050912929282008-06-09T13:02:00.001-07:002010-09-06T23:48:30.403-07:00

We got a great response from the write up on short sales, so naturally we need to educate you about the other side of the same coin: Foreclosures Foreclosures are homes that have been "repossessed" by the banks for nonpayment of a mortgage. They tend to sell at less than market price for multiple reasons. Why foreclosures sell for less: 1) The property has not been properly cared for or even

Michael Gentilenoreply@blogger.com4tag:blogger.com,1999:blog-4385452440018736132.post-45032530449148769082008-06-03T14:31:00.000-07:002010-09-06T23:47:23.106-07:00

I have had MANY people asking me, "What is a short sale?". To save everyone some time, here is a concise description of what a short sale is and what you need to know about them. A short sale is ideally a "pre-foreclosure". This means that if the listing agent is educated, the property will be "distressed", the seller will have not been paying his mortgage, a Notice of Default has been filed

Michael Gentilenoreply@blogger.com0tag:blogger.com,1999:blog-4385452440018736132.post-14067613764235618042008-05-08T15:30:00.000-07:002010-09-06T23:46:14.062-07:00

OK, I know I said that I would be back to blogging. But an opportunity to drive down the Baja coast with two of my brothers appeared and I jumped on the bandwagon at the last minute. It was a great opportunity to see the development and progress that is going on south of the California boarder. Image by jess hickman via Flickr You can buy an entry level ocean front condo near Tijuana and/or

Michael Gentilenoreply@blogger.com0tag:blogger.com,1999:blog-4385452440018736132.post-32951588536713747402008-04-22T18:06:00.000-07:002010-09-06T23:44:45.534-07:00

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

Michael Gentilenoreply@blogger.com0tag:blogger.com,1999:blog-4385452440018736132.post-52839110269558905502008-04-02T14:27:00.000-07:002010-09-06T23:43:14.139-07:00

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

Michael Gentilenoreply@blogger.com1tag:blogger.com,1999:blog-4385452440018736132.post-49459713375681836562008-04-01T13:42:00.000-07:002010-09-06T23:40:53.981-07:00

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

Michael Gentilenoreply@blogger.com0tag:blogger.com,1999:blog-4385452440018736132.post-82970206563211599032008-04-01T12:55:00.000-07:002010-09-06T23:27:55.064-07:00

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

Michael Gentilenoreply@blogger.com0tag:blogger.com,1999:blog-4385452440018736132.post-42140320847115505542008-03-20T14:47:00.000-07:002010-09-06T23:30:25.006-07:00

5742 N. Elmer Ave, North Hollywood, CA 7250 square foot lot. The Investment Strategy: Buy and Rezone The property has multiple apartment complexes dotted along the street. The home was built in 1920 and is a prime candidate for demolition. Buy the property, apply for a rezoning to multifamily which would allow the building of an apartment complex. Then, either sell the property for a

Michael Gentilenoreply@blogger.com0tag:blogger.com,1999:blog-4385452440018736132.post-54023046186431473182008-03-20T13:25:00.001-07:002010-09-06T23:32:15.731-07:00

I have been finding awesome investment opportunities for my investors for a long time and I come across so many properties that my investors and I cannot buy, fix, construct, rent, and manage them all. When I talk to people about how easy it is to make these opportunities pay off, I realized that their interest level is very high and that they would love to know more. If these people could only

Michael Gentilenoreply@blogger.com0tag:blogger.com,1999:blog-4385452440018736132.post-28080691793397652712008-03-20T12:45:00.000-07:002010-09-06T23:34:37.120-07:00

Image by simonov via Flickr6224 Denny Ave, Los Angeles (North Hollywood), CA What is your investment strategy? Fix and rent. $398,000 The Numbers: 10% down ($39,800) with a monthly payment of approximately $2,200 per month with insurance, taxes, and cost of interest on the $40,000 down payment from a home equity line of credit included. Will rent for a minimum of $3,000 per month after

Michael Gentilenoreply@blogger.com0