Renovating Vintage Apartment Buildings – A Win for Investors and Renters

Value-add properties have always been a hot commodity, appealing to both Investors and first time buyers, who may have less down payment. These properties are older, oftentimes rent-controlled and worn down, making the prices much more affordable than pricey newer developments. Investors are purchasing these properties at the bottom of the market, renovating it, and placing it right back on the market at a substantially higher price. What is the “ideal” vintage apartment? These vintage properties are usually built in the ‘70s and ‘80s, during the apartment building boom. Investors look for a solid foundation with as little facial and structural defects as possible. Oftentimes, Investors have

Authority adjusts subsidized housing rents to entice landlords

Rents for subsidized housing have increased so landlords might curb demands for extra money from tenants through unauthorized deals, the executive director of the Hazleton Housing Authority said. Dorothy George said some landlords want higher rent than the Section 8 program allowed so they asked tenants to secretly pay more cash. Such deals violate policy, George said, but they probably have occurred for decades and rarely come to light. Afraid of losing homes, tenants pay extra and keep silent. Sometimes the landlords need more money to cover expenses for the properties. Other times, they’re just greedy. In one case that George learned of, a landlord repaid extra charges to a tenant who kep

Why Buy an Apartment Building with LLC Title?

A multifamily property should not be purchased in an owner's name. It should be bought through a corporate entity, such as an LLC. The primary reason LLCs are formed is to avoid personal liability for business debts. Creditors can pursue LLC bank accounts and other assets, but they cannot touch personal property of a manager or owners such as cars, homes, or bank accounts. Conditions of an LLC The liability of a corporate entity is limited to the interest in the property as long as the following conditions are met. LLC corporations cannot commingle personal assets and corporate property. Courts disregard such LLCs as fiction and allow creditors to go after an individual's personal assets. Th

Can a Living Trust Help Protect When Buying and Selling Real Estate?

Living trusts (also known as “revocable trusts” or “inter vivos”) has become a beneficial hallmark of the real estate industry, protecting its supporters from complicated probates, costly lawsuits, and much more. This trust ensures that, upon your death (“trustor”), the assets within the trust will be handled by your “trustee” and transferred to your designated “beneficiaries”. As mentioned above, one of the primary reasons for recreating a living trust is to avoid expensive probate fees and complicated procedures. The more valuable property and assets are, the higher the probate costs become. This article addresses placing real property into a trust, which could be added at any time. It als

Buying is still somehow cheaper than renting in LA

To buy or to rent? The answer isn’t hard if you move around a lot or don’t have the cash on hand to cover a down payment, but for those looking to settle into a community for a number of years, the decision can come down to a simple question of finances. And according to a new report from Trulia, it’s still cheaper to buy in Los Angeles in the long run—in spite of sky high prices. The bad news for homebuyers: Historically low interest rates haven’t done much to increase the overall benefits of buying over renting. Last year, when mortgage rates were slightly higher, it was 37.2 percent cheaper to buy; this year, the number has risen only slightly, to 37.7 percent, nationally. In Los Angeles,

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Anie Mayelian  (818) 915-9118 
DRE #0077825

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