FIT Rental Home

Why waiting to buy a home could hurt you?!  (Disclaimer: Not everyone should be buying right now… I always say, don’t buy when other people are buying, when the market is ready or because of FOMO on returns on investment, rather buy when YOU personally are financially and mentally ready to do so) .  Why Buying a Home in 2024 Might Be Smarter Sooner Than Later Hey there, future homeowners and savvy investors! Today, let’s talk about a topic that’s on everyone’s minds: the real estate market in 2024. If you’ve been contemplating buying a home but keep putting it off, you might want to rethink your strategy. Here’s why waiting could cost you more than you think: Why Waiting Could Cost You Big Time Imagine this: You’re eyeing a gorgeous home in sunny California, but you’re considering putting off the purchase for a few more years. Sounds tempting, right? After all, maybe you’re waiting for that perfect moment or hoping for a magical dip in prices. But let me hit you with a little ...

  Looking at Rental Property:  You now have decided that you will be a rental property investor! Now what? Read the information below. These are the things you will have to get good at and know like the back of your hand. Practice, Practive, Practice! You will become better at doing these calculations and you will feel comfortable analyzing properties!  1. Set Goals (What Job will your rental property perform? Cash flow, appreciation and Equity over time?)  2. Find a property to analyze  3. Gather Info (rent and expenses (Estimate expenses at roughly 50% of gross rents).  4. Create income Snap Shot       A. GMR - .5% rule or 1% rule       B. Cap Rate (NOI divided by total price )       C. NiAF (Net Income after Financing)       D. Cash on Cash returns  5. Study Comparable sales  6. Create Equity Snap- Shot       A. Current discount (minus 10% to 30%...

In Los Angeles County, rent control and rent stabilization ordinances vary by city and can also depend on whether a rental property falls under the jurisdiction of a specific rent control ordinance. Here are some general guidelines based on common rent control ordinances in the county: Los Angeles City (Rent Stabilization Ordinance - RSO) : For buildings covered under the RSO, landlords are typically limited in how much they can increase rent annually. As of 2022, the allowable increase is based on the Consumer Price Index (CPI) for the Los Angeles area, capped between 3% and 8% per year. The exact percentage is determined annually by the city. Landlords must provide tenants with a 30-day notice for rent increases of 3% or less, and a 60-day notice for increases above 3%. Other Cities in Los Angeles County : Cities such as Santa Monica, West Hollywood, Beverly Hills, and others have their own rent control ordinances which may have different rules and allowable increases. These...