Small house at 100k or under in Los angeles area? (sales, 2015)

[mayorhaggar]

Originally Posted by seph22

Not sure how much is the cost of a single bed room small house or an apartment cost, it seems LA prices are different than the normal US house prices in other places, a simple search online showed that 100k or under is available but i have no idea if the area is safe etc that's why I'm asking here

Coastal California is really expensive compared with pretty much anywhere in the US other than NYC. You could maybe find a small condo for 100k but probably not. For one thing it depends on where you need to commute for school or work.

[Troof]

To answer the OP's question... No

In addition, I echo the sentiments of JohnG.

[R-Tistic]

Yeah, this is NOT at all possible. Not even for a decent average house all the way out in Palmdale or something. It's just not.

The area I live in, near Western and Florence (South of Florence) has some nice sized homes, quiet streets, yet that area when you get back to the main streets is seen as undesirable. And you're spending at least a good $260,000 over there.

Now, when you come all cash, you can get a house for less...so if a house is worth $260K, you might win with $220K-$240K, but still. Nothing would go down to $100K, period. And nope, no condos in L.A. in decent areas are less than like $250K, really $300-$325K.

Most likely, you will HAVE TO rent, and if you really have $100K liquid cash, paying $12,000-$16,000 a year will not hurt you at all, not even a little bit. Plus you still have to have furniture, pay for month to month bills, etc. etc.

Now...If you are making enough income, then yea, use some of that $100K, buy something using that as a good 10-20% down payment, fix it up some, and then deal with a mortgage of around $1,800-$2,000, which you'd still be able to afford for a few years even with no income. And then, rent out a room or something.

But yeah...that's how I'd call it.

[R-Tistic]

Originally Posted by mayorhaggar

Coastal California is really expensive compared with pretty much anywhere in the US other than NYC. You could maybe find a small condo for 100k but probably not. For one thing it depends on where you need to commute for school or work.

You can't. Even the short sale condos in Gardena on Rosecrans (which is between Low income and lower middle class to me) are like $120K-$150K, and they look like raggedy apartments, at least from the outside. So yeah...it's not really possible to me.

[sll3454]

I did a search on a real estate website and found that there are houses for under $100,000, even ones that are not short sales or foreclosures. They are probably in bad condition and in bad neighborhoods, but none of us knows what OP's standards or expectations are. I saw a 3 bedroom house in Pomona listed. It wasn't pretty, but it was probably livable, and OP could rent out a room or two. I would have considered it acceptable (or even good) when I was in my 20s.

There were several in areas of Los Angeles that I know nothing about, too.

[R-Tistic]

Originally Posted by sll3454

I did a search on a real estate website and found that there are houses for under $100,000, even ones that are not short sales or foreclosures. They are probably in bad condition and in bad neighborhoods, but none of us knows what OP's standards or expectations are. I saw a 3 bedroom house in Pomona listed. It wasn't pretty, but it was probably livable, and OP could rent out a room or two. I would have considered it acceptable (or even good) when I was in my 20s.

There were several in areas of Los Angeles that I know nothing about, too.

Yea...I'd be almost 98% positive that those houses are in "bad" areas, especially the ones in L.A. city. And if they only show one picture?? LOL yeah, the insides are a MESS...probably need plumbing and all else.

I've even seen empty house lots in L.A. go for over 100K before. And if he's an Engineer, I am sure he wouldn't want to live in an area like that at all. I just don't understand why he'd be against having a mortgage...if he's banking, he could even do a 10 year with a low interest rate.

[EscapeCalifornia]

Originally Posted by R-Tistic

Yea...I'd be almost 98% positive that those houses are in "bad" areas, especially the ones in L.A. city. And if they only show one picture?? LOL yeah, the insides are a MESS...probably need plumbing and all else.

Yeah one outside pic is a bad sign. Anywhere you'd find a house listed for $100k, it probably means the listing agent didn't want to get out of his car in that neighborhood.

[winoceros]

Why don't you just rent, OP?

[carlsw]

I had to create an account just for this. OP, are you getting some kind of weird kick out of yanking the chain of other posters. I mean, no one can possibly be this dense.

[EscapeCalifornia]

Originally Posted by carlsw

I had to create an account just for this. OP, are you getting some kind of weird kick out of yanking the chain of other posters. I mean, no one can possibly be this dense.

You'd be surprised.