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Old 12-24-2011, 04:11 PM
 
147 posts, read 288,440 times
Reputation: 43

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Hey everyone,

I will be concluding my visit to Southern California tomorrow, and I loved it so much that me and my family are looking to purchase an investment/vacation property. I need help with location and if you guys have any legal info for leasing it upon purchase.

As for finances, we are looking to stay within a 400,000 budget and are open to getting a condo or small house. Minimum 2 bedroom 1 bath.

I really liked the Los Feliz neighbourhood near griffith observatory, and we also liked Anaheim, Burbank, West Hollywood and Studio City but are open to any recomendations!

If anyone can help out regarding this it would be very appreciated.

Last edited by LAHopeful; 12-24-2011 at 04:52 PM.. Reason: title
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Old 01-02-2012, 07:43 AM
 
5 posts, read 11,049 times
Reputation: 10
For Los Feliz or West Hollywood your budget would need to be double that. And the closer you get to the observatory, the more you can expect a home to be $900k or a mil. But $400,000 is decent for the other areas you mentioned.
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Old 01-02-2012, 08:35 AM
 
Location: SoCal
1,527 posts, read 3,443,062 times
Reputation: 1164
Well since real estate is cheaper then a few yrs ago, investment doesn't sound like a bad idea..
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Old 01-02-2012, 12:56 PM
 
1,329 posts, read 4,771,596 times
Reputation: 1394
For investment you have to compare rent vs purchase price-even if you are not planning to rent it out. If the mortgage comes close to the rent then it is worth it. Rents won't go down much if any-actually they are going up. The house prices are in flux. Areas that rents are equal to mortgage have had their big depreciation.

If the sole purpose is vacation, then you have to decide what you want to do when on vacation and stay close to your destination. Spending 2 hours in the car while on "vacation" to get to your destination (?beach) is not very relaxing.
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Old 01-28-2012, 11:16 PM
 
147 posts, read 288,440 times
Reputation: 43
I would want to rent it out for the most part. And then when we have it cleared, we can use it as a vacation home. I really love the Los Feliz area, does anyone know of a good real estate agent who has a base in that neighbourhood?
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