3 People Who Should NOT Buy a House in Los Angeles

  Рет қаралды 9,968

The Artist of Real Estate

The Artist of Real Estate

Жыл бұрын

Buying a house in Los Angeles is not for everyone. Los Angeles real estate is works differently. In this video by Los Angeles real estate agent, we explore who should not buy a house in Los Angeles. We'll talk down payment requirements, holding periods, and more.
CONTACT ME REGARDING BUYING OR SELLING REAL ESTATE:
Daniel Rangel
➡️ EMAIL: daniel@theartistofrealestate.com
➡️ WEBSITE: www.theartistofrealestate.com
➡️ PHONE & WHATSAPP: 310-749-7092
➡️ INSTAGRAM: / theartistofrealestate.com
➡️ FACEBOOK: / theartistofrealestate.com
Daniel Rangel began his career as a Los Angeles Realtor at the young age of eighteen, over a decade ago, during the great recession. When others were calling it quits, he was charging forward, finding opportunities for his clients where others saw problems. To some around the world, Daniel is better known as the founder of Creativum, a project with a social cause that he founded during a three-year sabbatical, in which he traveled the world alone with a small backpack and a camera. As a result of his eccentric entrepreneurial accomplishments during this adventure, he has been published in newspapers across the American continent, made television appearances, been a guest speaker at several universities, and given two TEDx talks on the topic of sales and creativity. He likes the outdoors, travel, photography, and writing. From Daniel Rangel you can expect a real estate experience that’s fun, up-front, honest, and pressure-free.

Пікірлер: 28
@Ramin.Lavi.Mortgage
@Ramin.Lavi.Mortgage Жыл бұрын
This may be the most accurate advice and knowledge throw down I've seen an agent provide. It speaks exactly to the LA market. Great job Daniel.
@theartistofrealestate
@theartistofrealestate Жыл бұрын
"Throw down," love it! Thanks, Ramin, much appreciated!
@millennialmoneyprogress
@millennialmoneyprogress Жыл бұрын
Great video. You are such an honest breath of fresh air in the real estate arena!
@theartistofrealestate
@theartistofrealestate Жыл бұрын
Thank you, Millennial Money! Happy to hear that, appreciate it! 😊
@Joneshy86
@Joneshy86 Жыл бұрын
Really enjoy your videos! They are detailed and very accurate about the LA housing market. Keep it up!
@theartistofrealestate
@theartistofrealestate Жыл бұрын
Aw, thanks Jason! Really appreciate the love, man! Glad to hear you're enjoying them! 😁
@oceanangel4
@oceanangel4 Жыл бұрын
Really enjoy your content and humor!
@theartistofrealestate
@theartistofrealestate Жыл бұрын
Aw, thank you, oceanangel, much appreciated, glad to hear that! 😊
@armandoyeejr
@armandoyeejr Жыл бұрын
Great job, Daniel ! Great Advice!
@theartistofrealestate
@theartistofrealestate Жыл бұрын
Thanks Armando, much appreciated!
@johnshollenberger2337
@johnshollenberger2337 3 ай бұрын
If my house (built in 1938 2bd 1 bath, 6000 sq ft lot / 2 car garage) in Northern San Bernardino were located in West LA, it would be worth at least 1 million dollars. West LA has a quality of life found nowhere else, it's very unique, so you're paying for that and it's a sound investment, the I.E was crushed in the housing down turn, but not West LA. Daniel is right ,even after 16 years in this first house, I'm the cleaner, the Gardner, the manager.. but a nice little house has evolved over time so it's all good. Daniel is younger than I am, but far wiser.. enjoy his videos. I learn something each time.
@SecretCaskets
@SecretCaskets 2 ай бұрын
I have 650k and I get paid $20 an hour. what should I do?
@Enimo17
@Enimo17 Жыл бұрын
Great video...from Europe 👍
@theartistofrealestate
@theartistofrealestate Жыл бұрын
Thanks, Eni, much appreciated, cheers from the U.S.!
@jasminorvil9962
@jasminorvil9962 9 ай бұрын
First of all thank for all of ur video they are very helpful.Can u do a video regarding buying a house cash (one payment) vs mortgage system please.
@theartistofrealestate
@theartistofrealestate 9 ай бұрын
Thank you! Happy to hear that 😊 Thanks for the suggestion. Like, the financial benefits of one over the other? Or like buying now with financing, or waiting till you save to buy cash? Curios, let me know!
@stacyg585
@stacyg585 Жыл бұрын
I don't know if you give out advice to your commenters, but I'm dying to know what you think: My husband and I bought a home in cash in Santa Clarita 4 years ago. Lovely home, got a great deal on the house. We had a baby 6 months prior, and realized that staying in our pricey West Hollywood condo just didn't make sense. We wanted to focus on parenting rather than having to work to pay our mortgage. So we cashed out, bought the SCV home. Within a month of moving in, we realized we pretty much loathe SCV and started talking about getting out of here. Yes, the tragic part of the story is that we were not familiar enough with the area before we bought. We liked that we could afford a single family home out here, relatively close to LA. Then the pandemic hit and of course we hunkered down here. Now we're at a crossroads. Home has appreciated by 150k in 4 years. We know we don't want to stay here permanently, but the market is so crazy right now and we're scared to buy. At the same time, we're scared to rent, and not be real estate owners any more. Do you have any advice?
@stacyg585
@stacyg585 Жыл бұрын
Oh and I should add that I own a business. It's in its second year and growing but I don't have enough of my own capital to invest in it, unless we cash out of the current home. Tough situation. Your wisdom is appreciated! Love your videos, have watched them all :)
@theartistofrealestate
@theartistofrealestate Жыл бұрын
Hey Stacy! I am sure many people will appreciate your honesty and will surely help many who are where you were at four years ago. The grand old debate: house vs. area. On your current situation, my two cents, which is not a science and many other factors should be considered: 1. As far as relocating, this market, for better or worse, mainly affects first-time buyers, or people not exchanging. In your case (selling to buy), well, if the value of your house goes up or down, likely the replacement property will do the same. So market timing is not so much of a thing for you on this front. Interest rates affect you, but you can always refinance, so long as you plan on living there a sufficient amount of time to justify the refinance cost. So I wouldn't worry too much about the market. The big question is can you find a replacement property in the area you want, within your budget? I think only you can answer this. And I would just keep in mind the 5 to 10 holding period, especially in this market where we don't know what's going to happen. Seems you would be giving a large down payment, so your worst-case scenario is covered; rental income would cover the mortgage if any. But if you think moving is best for your sanity and family, and you can't find a replacement property that you can hold on to for 5 to 10 years, just rent. And you can choose to keep your existing house and rent it out. Nothing wrong with renting where you live and renting out what you buy. Of course, you just want to consider what it takes to be a landlord. And finally, subject to a bunch of factors, when it comes to your primary residence (where you live), I don't think everything has to make penny sense. Vacation costs, therapy costs, organic milk---we don't measure them by profit and loss. But a house, which also affects our overall well-being, we hold to a higher financial standard. I hope this kinda' helps; just my two cents. My info is in the description; feel free to reach out, we can schedule a call. But either way, thanks for sharing!
@stacyg585
@stacyg585 Жыл бұрын
@@theartistofrealestate Thank you so much for your detailed, thoughtful reply. You gave me a lot to ponder.
@theartistofrealestate
@theartistofrealestate Жыл бұрын
@@stacyg585 of course! 😊
@masoudshaghaghi5744
@masoudshaghaghi5744 Жыл бұрын
Do you recommend buying a condo around 450k and rent it out for investment? I know the rent will not cover the mortgage with this interest rates, I can’t afford a condo for living in the area that I rented and don’t want to relocate
@theartistofrealestate
@theartistofrealestate Жыл бұрын
Hello! Depends on many factors, but I would say it works if you go long term, have reserves, account for vacancies, and repairs or HOA special assessments.
@lomeli011482
@lomeli011482 Жыл бұрын
I want to buy im Getting 80k do you think the interest will go down or even the cost of a house i only make 53k a year i think i should just rent in l.a.
@theartistofrealestate
@theartistofrealestate Жыл бұрын
Hello Lomeli, thanks for watching. That's about a $375K home purchase, assuming you have no debt. Not sure if you can find something you like at that price. On interest rates, hard to say. In the past 50 years, the average has been around 7%. It wasn't until the 2008 recession hit that we started seeing things in the 3 and 4s. But yeah, tough to say, anything can happen.
@FeonaLeeJones
@FeonaLeeJones 11 ай бұрын
Are there condos without that annoying HOA fee?
@theartistofrealestate
@theartistofrealestate 11 ай бұрын
lol generally speaking, no. There are few exceptions like planned unit single-family house developments with very low HOA's, and like 2-unit condos in places like Marina del Rey, where the maintenance is done informally by the two owners.
@lzeng78
@lzeng78 2 ай бұрын
!!
Top Things to Know Before You Buy a House in Los Angeles
12:40
The Artist of Real Estate
Рет қаралды 6 М.
House Hunting In Los Angeles - What $1 Million Gets You in 2024
14:53
Shelby Church
Рет қаралды 163 М.
Why Is He Unhappy…?
00:26
Alan Chikin Chow
Рет қаралды 38 МЛН
Best Toilet Gadgets and #Hacks you must try!!💩💩
00:49
Poly Holy Yow
Рет қаралды 20 МЛН
A teacher captured the cutest moment at the nursery #shorts
00:33
Fabiosa Stories
Рет қаралды 47 МЛН
Home Buying Process Los Angeles California
15:33
The Artist of Real Estate
Рет қаралды 6 М.
How to Know if You're Ready to Buy a House in Los Angeles?
9:44
The Artist of Real Estate
Рет қаралды 796
Avoid These Mistakes When Buying a House in Los Angeles
9:49
The Artist of Real Estate
Рет қаралды 1,9 М.
Selling and Buying A House at the SAME TIME
12:44
Jeb Smith
Рет қаралды 31 М.
3 NOT Common Benefits of Buying Real Estate in Los Angeles
10:29
The Artist of Real Estate
Рет қаралды 3,9 М.
House Hunting In Los Angeles: What $1 Million Gets You In 2022
16:45
Shelby Church
Рет қаралды 207 М.
The Real Cost of Living in Los Angeles 😱😱😱
13:09
Debt Free Millennials
Рет қаралды 9 М.
Home Prices in 2024 | When to Buy a House in Los Angeles |
9:36
Arvin Haddad
Рет қаралды 7 М.
California on verge of collapse. Housing crisis causing mass homelessness.
19:31
Why Is He Unhappy…?
00:26
Alan Chikin Chow
Рет қаралды 38 МЛН