Written by Miles Presha
(Heather's husband and humble assistant)
Lately clients have been having a hard time finding their place in the market now that inventory is low. Hot neighborhoods like Leimert Park, Baldwin Hills, and Jefferson Park are seeing fewer for sale signs on the front lawns as lots of investors and buyers from the west side and east side have swooped in and grabbed whatever homes were available. Additionally, homes for sale in these neighborhoods have gone up in price due to their high demand. So what's a buyer to do who's looking to get in the game somehow? Go get yourself an income property.
Income properties provide the benefits of home ownership not to mention financial contribution towards your mortgage. You may want to buy a property that already has tenants in it, or you might want to live in one of the units and rent out the other. Either way, there's still a decent inventory of income properties in South L.A. Don't let the fact that they're sitting discourage you. Most buyers don't want the headache of being a landlord and the possibilities of having to evict a tenant. Management companies can be used to handle those day to day headaches you might be reluctant to face for a reasonable fee, and there are home warranties available in case something needs fixing; allowing you to live in your property peacefully.
Check out some options and view more benefits of income property ownership.
CLICK HERE for a snapshot look at active and sold properties in Leimert Park and South Los Angeles.