Military - moving to LA AFB in January 2014 - need help (Los Angeles: real estate, apartment) - California (CA) - City-Data Forum

nativesun1979 · 07-13-2013, 05:57 PM

I am military and will likely work at Aerospace Park (just south of LA AFB) and would like to be close to work and the beaches. I am married with no kids (and no plans for kids). I am looking at a max mortgage in the range of $600-$650k, and would prefer something newer. I can't see living in anything under 1,000 s.f. (or a studio for that matter), and have to have at least a one car garage (preferably 2). I have started looking all over the place online, and will likely take a trip to CA in August to do some initial house-hunting.

I have started doing some searches for Redondo and Hermosa Beach, and have also looked at the 360 and Mariposa Walk developments.

Thanks for any advice you are willing to provide!

5pyg1a55 · 07-13-2013, 08:13 PM

Real estate agents are pretty much required around here to get a place.
This site may interest you:
Dr. Housing Bubble Blog

nativesun1979 · 07-18-2013, 09:54 PM

Any more info? We continue to look and will be taking a trip to the area in August.

5pyg1a55 · 07-18-2013, 11:27 PM

You need to specify what you're looking for--you didn't ask any questions.

For instance, do you want to know something specific about Redondo? Or if Hermosa is a safe place? Or are there any better places? You didn't even post a commute limit. You didn't even say where you're moving from.

I want to know why you'd buy something here right now, a place you don't even know if you'll like or stay very long, and in this mad mania of a real estate bubble currently ongoing. I would never buy a place anywhere I was unfamiliar with. Doesn't make sense!
How would you even know if you wanted to live there long term? I'd really suggest renting for 6 months or so to make sure you even like it here before buying. You can't get a feel of this city in a short, week-long trip. It will take a while to "learn the ropes" so to speak. Then you'd really know where and if you want to own a place.

You also didn't say anything about yourself- yes you're military, great, but that tells me nothing. What do you like to do? Do you want to be able to walk around and get drunk at bars in walking distance of your home? Are you a history/museum buff? Want to be near a park or a museum or something? Do you need to be near restaurants? Nightlife? Libraries? What kind of area do you like? Politics? Attitude?

What are your wife's expectations and desires? (I've noticed a common theme with men posting advice questions here and not really giving a **** about what their wives preferences are).

No one can help you if you don't ask a question or tell anything about yourself.

nativesun1979 · 07-19-2013, 12:52 PM

Thanks for the feedback - I will provide some additional details.

I would like to live in a safe area within a 20 minute (rush hour) drive to LA AFB. We are willing to spend around $600k if necessary (possibly up to $650k if rates drop), but are not dead set on buying and are still looking at possible rentals. I am military and will be stationed at LA AFB for four years, and I find it very difficult to spend $2500+ on rent for a four year period as I believe owning real estate is generally a good investment and also provides numerous tax benefits. The reason I'm considering buying is I would prefer not to move twice for this move (once into an apartment and then once into a purchase), but would consider doing so if absolutely necessary. I believe our commute limit would allow us to live in Marina del Ray, Playa del Ray, Westchester, El Segundo, Hermosa Beach, Manhattan Beach, Redondo Beach, and Torrance. Based upon info we have heard from other military members, I would prefer to stay west of the 405 as I believe that provides us with a better chance of being in a safe area.

As for what we like to do - we do not drink, we don't go out to clubs and bars. We like to bowl, go watch movies, go to the beach, walk around the community, ride bikes, work out, play pool, etc. We also take pride in and care of our vehicles, and I have a show car which is what is driving the requirement to have an attached garage. If anyone knows of a good vehicle storage location (inside with private access), I would be interested to get some information on that as well as it may eliminate my requirement for a garage.

If we buy, we plan on keeping the property for 10+ years and using it as an investment/rental property once we move to another Air Force base. This is part of the desire for us to buy, as I believe real estate tends to be an overall good investment (historically), although I do realize that crashes in the market do occur (just as they do in the stock market).
As far as cost, I would prefer to keep the combination of all real estate expenses below $4,000 per month for a purchase. In order to justify renting, I would want to find a place for $2,500/month or less.

Please let me know if there is any other data that would help with this. I know that asking people online is not always the best source of information, but I believe this forum provides access to folks with real experience in the area which is sometimes more helpful than a realtor (that may or may not just be looking for a sale).

batgirl4u69 · 07-19-2013, 07:40 PM

Los Angeles AFB Is The Boring Base In All The Military. Nothing Happends .Theres No Runway 4 Fighter Planes Are Any Aircraft At Least MARB Rverside Has f16's c17 KC Refulers'

Marie87 · 07-19-2013, 07:56 PM

I understand your reasons for wanting to buy over renting. That is exactly how my husband felt during most of his time in the military. He retired almost 2 years ago after 20 years. We purchased a home at all our duty stations except Los Angeles and still own 6 homes including the one we live in. There are benefits but if you were to ask my husband today about buying he would recommend renting. Keep in mind that if you buy and keep it as a rental you will be paying 10% a month to a property manager if you don't manage it yourself. We have military friends that just moved there and considered buying until they saw how much they would be paying in taxes compared to other places they have bought.

I understand not wanting to move twice but agree with the other poster about renting first and getting comfortable with area. Good luck with whatever you choose to do.

nativesun1979 · 07-19-2013, 10:12 PM

LA AFB is where all of the procurement is done for the space assets for the AF - the units are called SPOs, or System Program Office.

Marie87 - I'm assuming that the ownership has worked out as far as building wealth. My concern is money sitting in a bank doesn't do much for providing retirement capability, while real estate has historically proven to be a good investment (although there are always risks).

Marie87 · 07-19-2013, 10:40 PM

At this point I can't say that home ownership has provided wealth. We have a house we purchased 20 years ago that is worth less now than what we paid for it. Our town home in the D.C. area was purchased at the height of the market in 2005 and is currently upside down. Another home we purchased in 2004 is worth about the same now as what we paid for it and another one that was purchased in 97 is only worth slightly more than what we paid for it. I would not look at real estate anymore as building wealth. The older the home is the more things continue to go wrong. The other thing to consider is if the property doesn't rent right away and you have to cover a month or two of the mortgage. We have been fortunate over the years and have rented to other military that have treated our properties well and have only a couple of times have had to cover the mortgage for a month between tenants. On all the properties we don't bring in much more in rent than what the mortgage is.

I'm not trying to be negative or tell you not to buy I just want to paint a realistic picture of my experience with being a landlord. Just make sure if you buy that your mortgage payment is in line with what you could get for rent in that location. I'm sure when our we have one of the homes paid off I might feel differently but that will not be for another 6 years. In the mean time the right offs were good until my husband retired. Between his military retirement and income from his new job we made to much to deduct all the expenses we have with the houses.

Marie87 · 07-19-2013, 10:54 PM

One more thing to consider when buying is the schools and location. Even though you don't have kids it is very important to consider that when buying. Not only does this help with resale in the long run but also doesn't limit your pool of potential renters. A lot of military families, especially in L.A., are looking to be close to work and in a good school district. I think you should be good in the areas you mentioned but just something to think about.