downtown wow :) (Long Beach, Orange, Santa Monica: for rent, condo, mortgage)

[10by2012]

researching best places to buy a new condo
downtown L.A or downtown Longbeach ???

im in my late 20's with no kids but planning to adopt in a few years

[JohnG72]

If you insist on overpaying for a condo, avoid the Barry Shy places downtown. Those locations often tend to be unavailable to mortgage anyway. They are fine for renters, problematic for owners.

Rent vs investment MIGHT pan out if you go all cash and are ok with a 3% net return, but if you buy now I can almost assure you that you will be losing if you sell in five years, or if you try to rent it out.

[timeofseasons]

There isn't a vibrant downtown, look in Hollywood and West Hollywood.

[JohnG72]

Originally Posted by timeofseasons

There isn't a vibrant downtown, look in Hollywood and West Hollywood.

You have zero clue.

Both downtown LA and LB are now quite nice.

[Troof]

I agree with everything JohnG72 has posted in this thread...

[wrcousert]

Originally Posted by JohnG72

Both downtown LA and LB are now quite nice.

Which would you rather live in?

[JohnG72]

Originally Posted by wrcousert

Which would you rather live in?

Depends on where I work. I like both. Downtown LA is a bit younger and if you like going to lounges and bars and meeting pretty girls it may suit you a bit better. There also seems to be a bit more going on with LA live, sports, concerts, etc. But downtown LB is plenty nice too and commute to work would be more of an issue to me.

ie, I work in downtown LA so I live there.

If I worked in LB or the harbor area, I'd live in LB.

[nowincal11]

Downtown LA is really coming into its own, even with this recession. Several of my Westside friends make the hour trek downtown to go out to some of the upscale bars and lounges. There are still swaths of downtown that are pretty dull and empty, but there's plenty going on. Someone a few months back posted how there are around 60 bars/lounges/clubs downtown now. My guess is the age range for downtown is late 20s to early 40s as the prime. Plus you have a quick train ride to Hollywood if you want to go out there or walk around and don't have to worry about parking.

Downtown Long Beach I am not as familiar with, but if you prefer the South Bay and Orange County, it's significantly closer. Downtown Long Beach is obviously a lot smaller, but it's decently lively and of course, is a lot cheaper. I would say the people are bit more down to earth too, though you can have superficial and down to earth people anywhere in LA.

[disgruntled la native]

Downtown has really changed. It's become one of the most hip parts of LA. Maybe the most now.

Let's see... Sunset Strip is dead, Santa Monica (and culver city) scene is boring, Hollywood/Sunset Blvd is too urban or exclusive, Silverlake too artsy hipster

So that leaves Downtown.

[claycassden]

So the whites are moving back into the city like everywhere else in America? haha