It is no secret the residential income property market is red hot due to lower prices (a result of the housing bust of 2008-2012) and the historically low interest rates. My January 2012 letter to clients recommended income property as a "Buy" niche in an otherwise flat real estate market. What a difference a year makes--prices are on the rise as are interest rates and it is becoming more difficult to find residential income properties that pencil out, but it is still possible.
Buyers must often set aside their quest for perfection (great location, great condition and positive cash flow) and adjust their expectations. A long term approach is often best; leave the fix and flip to the in-and-out investors.
We, Norma Toering & Team, are currently working with investors shopping for residential income properties in Los Angeles County, and surrounding areas, priced from $200,000 to $20,000,000 plus. I know, that's quite a range, but there is something for every budget. Fortunately, we've enlisted a real estate financial expert (MBA Columbia University) to assist with the financial analysis of income properties. Once a property qualifies on location, price and size he determines the financial feasibility of the purchase based on the client's goals. It is another value-added layer to our customer service program for residential income property clients.
If you plan to buy or sell residential income in the Los Angeles area contact Norma Toering & Team for more information on how we can help you.
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