Saturday, September 30, 2017
Thursday, September 21, 2017
The South Bay of Los Angeles has residential investment units in most cities. Units occasionally come on the market in Palos Verdes, and units in the Beach Cities tend to get snapped up fairly quickly. Torrance is still very popular with investors.
The LA City rent control rules in San Pedro/Wilmington/Harbor City are a factor in keeping those areas competitive and as a result, the lower prices attract many first-time investors.
Income property of all types remains in high demand along the coast of the South Bay. Investors are going after the 4+ unit buildings, while owner-occupants and tear-down builders are focused on duplex and triplex listings.
For more information on income property in the South Bay of Los Angeles. - Norma Toering 310-493-8333 Broker Owner at Charlemagne Intl Properties
Friday, August 18, 2017
Are you considering purchasing real estate as an investment? If so, you might want to consider buying a waterfront condo or perhaps a vacation property in the desert or mountains.
Southern Californians are fortunate to have the coast, the mountains, and the desert within a two to three-hour drive. That's still close enough to visit (or vacation) if the need or desire arises.
Condos do have the added convenience and expense of Homeowners Associations. HOAs serve as a third-party watchdog for owners. They also reduce the number of maintenance responsibilities owners must bear. Unlike a single-family home or a multi-family apartment building requiring exterior upkeep, most condo associations cover gardening, exterior maintenance and overall upkeep of the buildings and grounds.
With more retirees moving to condos in a resort or urban area, and the return to the city by many young professionals, I expect the need for upscale rentals in such areas to grow.
Saturday, July 29, 2017
I have a client who is in the market to invest approximately $5MM in real estate. He is selling a commercial building and wants to roll the proceeds over into another property. Simple enough.
The dilemma he faces is where to make a long term investment that will require minimum management but provide a decent return on investment. Retail seems like a high-risk venture with the disruption online shopping is creating in the industry. Will gas stations become a thing of the past as the 21st-century advances? As the economic climate changes so do an investors' goals and guidelines.
One thing is certain; people will always require a roof over their head. Housing is here to stay, and the price continues to rise both for purchases and rentals. I recently read over 50 percent of Los Angeles housing units are rentals. Homeownership is simply out of reach for many.
While it's true many people live in rental properties because they cannot afford to purchase, some renters opt to live in a luxury rental for the carefree lifestyle as well as the mobility of a lease over needing to sell a property when it's time to move on to a new job or life adventure.
The growing number of renters ensures the rental market will continue to support investors who choose to invest in multi-family luxury properties in the South Bay of Los Angeles.
Wednesday, March 1, 2017
Wednesday, December 21, 2016
That's the question I'm going to work on this weekend. I hope to be able to provide several viable options for several clients who are ready to expand their real estate portfolios.
The answer is easy if the prospective buyer is a first time home buyer, as owning your own home provides several benefits in addition to providing shelter. Once the primary residence is in place, and perhaps even the move-up residence, it becomes a matter of personal choice as to what real estate vehicle best fits your real estate portfolio model. Vacation homes o and income properties are always options.
Although throughout history a great many people made their fortune in real estate, it is not without its risks. Ask anyone who was trapped "underwater" during the Great Recession, and you will hear one horror housing story after another. With mortgages larger than the value of their property, many walked away, did a short sale or were foreclosed upon. Many learned the hard and costly lesson that real estate prices do not always go up. It was a difficult time in the world of real estate as well as the overall economy.
Real estate is a market, and like the stock market, today's prices do not reflect tomorrow's value. The secret sauce is location, and there is nothing new about that. However, it is wise to investigate why one location is superior to another even though they may be within the same general geographic neighborhood. The sub-categories of location are view ( buy one if you have the option). Another location factor is proximity to amenities such as shopping and dining, schools, freeways, public transportation (close enough to keep commutes easy, but far enough away to avoid noise and pollution), and perhaps the most difficult to project--future growth and value potential.
Every savvy investor would like to get in on the ground floor of the next trendy neighborhood, the deal of the decade and so on. The key to identifying real estate opportunities is first to know what's happening in the communities of interest and watch local trends. One of the driving forces of today's rental market is more young people are delaying the purchase of their first home. This translates to a higher demand for rental units in urban and beach locations as this is where young professionals want to live.
On the other hand, suburban areas with top-rated schools will attract renters who do not purchase due to affordability or other personal factors but still want their children to enjoy the benefits of the best education they can provide. I've leased many Palos Verdes homes for this exact reason.
Income producing property in a highly sought-after neighborhood may not be offered at a bargain price, especially if in a coastal location, but chances are there will be a growing demand for such properties. This translates to increase in value (equity building) and a low vacancy rate--both positive factors from an investor's point of view.
If you're in the market to purchase income property or a second home, I would be honored to discuss your investment goals and help you meet them.
Norma Toering - Broker/Owner of Charlemagne Int'l Properties 310.493.8333 or NormaToering@gmail.com
Thursday, November 17, 2016
The South Bay of Los Angeles is popular with landlords for a variety of reasons; perhaps the top one being real estate prices are high, and that supports an ever-growing pool of renters. The Beach Cities of Redondo, Hermosa and Manhattan are prime coastal locations for residential income properties. It's a lifestyle many aspire to and although the purchase prices are high there are a surprising number of rentals available near the beach.
Let's begin with a market update for Redondo Beach's residential income properties:
8 Residential income properties are currently for sale in Redondo Beach.
6 Redondo Beach residential income properties are in escrow with accepted offers.
41 Redondo Beach residential income properties sales have been recorded year-to-date.
Hermosa Beach residential income property report:
30 Hermosa Beach residential income properties have sold year-to-date as of November 17, 2016.
6 Hermosa Beach residential income properties are in escrow with accepted offers.
4 Residential income properties are currently for sale in Hermosa Beach.
Manhattan Beach residential income property update:
13 Manhattan Beach residential income properties are currently for sale.
2 Manhattan Beach residential income properties are currently in escrow with accepted offers.
19 Residential income properties have sold year-to-date in Manhattan Beach.
For more information about residential income properties in the Beach Cities of the South Bay of Los Angeles contact Norma@CharlemagneProperties.com or 310.493.8333
Photos taken by Norma Toering while out and about in the gorgeous Beach Cities.
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