My apartment building is going under construction.
I was told I have to leave my apartment because they're going to be rehabbing the building. I live in my dream area, Marina del rey, California. I don't want to rent anymore I was hoping the next place I went to would be a place I'd own. I want to stay in my same dream area. Does anyone have any ideas as to how I could maybe to do a seller financing deal or lease with the option to buy, house hack ( unfortunately I don't have a large down payment) how I could go about doing that in Marina del rey. Even in the surrounding area would be okay, just don't want to go too far from water. Any suggestions/ideas or no of any programs that perhaps could help me with this endeavor. I'd appreciate any advice.
Hi @Nanette Miller , I also live in the Marina and love the area. Prices have gone through the roof in the past year so it may be difficult with little money down. Maybe try Marina City club with an FHA loan, or a bit further away in mar vista. Good luck!
@Christopher Telles No not that I am aware of. It would have been cool to have family on the commercial side in LA though!
Thanks Carrie, I did go by Marina City Club, saw a 1 bedroom for $479K - HOA fees would be $1,050, and a 2 Bdrm. for $550K - HOA fees would be $1500. A L.A. state tax is part of the HOA and you can't claim that portion.
I could do Mar Vista, Culver City, the surrounding area; house hacking would work too (living in one unit and renting remainder out). Wish I could come across a Seller Financing in these areas.
Yes $1500 for the 2 bdrm. I looked at. The county owns the land and charges the Housing development a land tax, so $1500 includes if I remember correctly $1,000 for HOA and $500 is land tax.
It's unbelievable but,there's 160 units in the development and each HOA fee is different.
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!