RE/MAX Gateway
Mark Bolender
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RE/MAX Gateway
Santa Clarita. Los Angeles. Silicon Beach.

Welcome Young Real Estate Investors, Where to Start?

Highrise that towers over Ocean Avenue.

High rise estate of the rich and famous in Santa Monica. Copyright by Mark Bolender

Perhaps you find yourself with a cache of surplus money that you wish to invest in the perfect property, suitable for flipping.  You will be delighted to know that Los Angeles is an ideal place to focus your search.  Here is a quick overview of our ideas on flipping foreclosures in this area…We have tried to illustrate the lowest starting price points and average price for typical neighborhoods with a good investment outlook. We have wrote this blog with the entry investor who is looking to start small.

In general, a foreclosed home receives 10-20 cash and conventional offers.  This leads to a significant wait time while the offers get “bid up”, eventually selling at a much higher price than listed for.  In addition, these homes are sold “without warranty”, which can lead to unforeseen future problems.  As such, there are other properties that are not foreclosures that could be a better deal in the Los Angeles area.  However, be assured that any list of available homes we generate for a particular area will include foreclosures and pre-foreclosures.

Regarding the range of prices for these homes, here is a sprinkling…

LA, Santa Monica skyscape

Santa Monica Cityline Over Beach Copyright by logoboom.

On the “Westside”, in places like Santa Monica, Mar Vista and West Los Angeles, a 1 bedroom condo/townhome will start around $500,000, but most good ones are over $800,000.  Occasionally, a property appears for less on the internet,  but usually these  lower priced homes are  for investors and are generally “non-owner occupied only”, where current tenants can remain there indefinitely.

An exciting, niche area, home to Sony, MGM, NPR West and the NFL studios, called Culver City, has 2 bedroom condo/townhomes for around $400,000.

Less desirable areas of West Los Angeles, like the infamous Compton 🙂 do have single family homes in the $300,000 range but living there can have its challenges.

An area in “The Valley”, the San Fernando Valley, called Woodland Hills, has 2 and 3 bedroom townhomes for $250,000-350,000.  These properties bring in rents of $2200-2400/month.

The picturesque city, known as the Santa Clarita Valley, about 29 miles north of LA, has townhomes for $250-300,000, strategically located near the town center mall and industrial park, close to many employment opportunities.

North of there, in the sprawling, diverse communities of the Antelope Valley, there are single family homes in the $350,000 range.  In the deserts, like Palm Springs and Joshua Tree, there are homes and condo/townhomes between $200-$500,000.

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About Us

Picture of Mark Bolender

Mark Bolender

Cal BRE# 01065007

markbolender@remax.net

661-714-0510661-714-0510 mobile

Mark Bolender has been a driving force for good, in the Southern California real estate scene for 25 years. His innovations in service, technology and transparency has given him a rewarding career with many clients. "Calm, cool and collected" best describes him. Detailed and caring define his character. His first hand knowledge of the housing industry and Southern California culture blends with his seasoned experience in helping people and negotiating on their behalf. Mark feels strongly about assisting people in finding real estate that will enhance and enrich one's life.