So, you want to be a landlord?
During the past year I have had more and more clients ask me about investing in rental property; most are interested in Burbank, Glendale, La Crescenta and Montrose (cities which are not subject to rent control). I don’t know which is more of a shock, the large down payments required (for non-owner occupied financing) or the amount of the monthly negative. Of course there are tax benefits such as depreciation, but a CPA would need to discuss those particulars.
Recently, I had a client inquire about two to three unit properties in Burbank, Glendale, La Crescenta or Montrose and preferably as close to $600,000 as possible. I conducted a search in the Multiple Listing Service (MLS); currently nothing within these parameters in La Crescenta or Montrose is listed. Before we look at what is available in these parameters, I would like to remind you that I am the Realtor not the banker, exact interest rates and fees need to be discussed with the banker.
Recently, I had a client inquire about two to three unit properties in Burbank, Glendale, La Crescenta or Montrose and preferably as close to $600,000 as possible. I conducted a search in the Multiple Listing Service (MLS); currently nothing within these parameters in La Crescenta or Montrose is listed. Before we look at what is available in these parameters, I would like to remind you that I am the Realtor not the banker, exact interest rates and fees need to be discussed with the banker.
Posted by Phyllis Harb at 7/30/2008 6:28 AM 
Categories: Miscellaneous, Interest Rates, A Buyer's Perspective
Categories: Miscellaneous, Interest Rates, A Buyer's Perspective
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9/3/2008 2:32 PM
Los Angeles Real Estate Blog wrote:
Los Angeles Area Landlords a word of caution!Seven common mistakes landlords make: 1) Not properly screening your tenant by verifying references and reviewing a current credit report 2) Failing to ask for a security deposit and pet deposit if applicable3) Failing to charge a reasonable (typically 5%) late fee when rent is past due (usually 5 day grace period is reasonable)4) Failing to modestly raise the rent every year and a half or so (unless rent control)5) Not driving by the property and checking the condition of the exterior6) Failing to make reasonable repairs and addressing realistic maintenance issues ...
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