Residential real estate services for the South Bay and Beach Cities,  Redondo Beach, Torrance North, South, West, and East, Torrance PO, Gardena, Hawthorne, Harbor City, Lomita, Carson, San Pedro, Rancho Palos Verdes, and Surrounding Communities.

Featured Listings

8 W Vac/Vic Avenue G8/145 SteLancaster, CA 93535
$50,000
Vacant Land
  • Lot:115,225 sq ft
  • MLS#: SB15019280

Land Lot for Sale 2.5 Acres Flat Lot. 115,225 Square feet. Located in Lancaster. S 1/2 OF S 1/2 OF W 1/2 OF E 1/2 OF W 1/2 OF LOT 1 IN NE 1/4 OF LOT 6

Courtesy Of David LeMontree, Home Team Realty
Buying a Home, Making Offers and the Escrow process:

 The first step when buying a home is always to get pre approved for a loan. after you are pre approved you will view properties and when you find the prefect home then the next step when making an offer will be to determine the purchase price to offer. We will do that by reviewing comparable sales of the same sq footage homes within 1 mile range of the subject property. We will add and subtract for upgrades and/or work that needs to be done on the property taking in to account any competition (other offers on the property) and also how bad you want the property...Using that information I will structure an offer that is to your best interest. I will then submit the offer and we will wait for an answer from the seller. It necessary we will counter back and forth until we reach a meeting of the minds or agreement of price and terms. After we have an accepted offer we will open escrow and start the escrow process.

The first thing we will do after opening escrow is schedule a home inspection.. The cost is  $250-300  Second thing I will send a copy of the contract to your lender to start on your loan. The lender will order the appraisal. You may have to pay $450-475 for the appraisal... These are your only expenses at this time...Toward the close of escrow you will pay the balance of your down payment and closing costs after you sign your loan documents just before the close of escrow...

All purchase contracts include an inspection contingency. The standard contingency period is 17 days and it can be changed or negotiated when making the offer. The contract allows 17 days to approve of all matters effecting the property including the  inspection, the appraisal, reviewing the disclosures, title report, natural hazard report and to approve of all matters effecting the property. If we are going to make a request for repair or request for a credit for repairs, we do it during the 17 day contingency period.

Review the contract and make a list of important dates. These will include such things as the contract contingency deadlines and the actual closing date. I will keep you posted on these timelines..

Make sure to provide your lender with all the information needed to get your loan approved and to satisfy your lenders conditions when asked so you get your loan documents on time. Most of the time there will be pre document conditions and pre funding conditions, these conditions need to be met before your loan can be funded.
 
When a closing is delayed, it usually has something to do with the buyer's mortgage. In order to ensure that this doesn't happen to you be diligent about providing the lender with all the documentation needed to give you final loan approval. Also keep in mind the lender won't prepare the loan documents for you to sign until all the lender's conditions for approval have been satisfied.

Review the Escrow Instructions to make sure they are correct before signing them. Make any changes by requesting escrow to make an amendment if needed. Review the Disclosures thoroughly, review the NHD Report and the Title Report thoroughly before signing them off and approving them.

A
s the closing date approaches, you'll go to escrow to sign your loan documents or escrow will send a mobil notary to your home and you can sign your loan documents at home.  After you sign your loan documents you will arrange to  transfer your funds for your down payment and closing costs to escrow that are necessary to close the sale. At this point escrow will fund your new loan close escrow within a few days.  We will schedule a final walk-through of the property to make sure that it is in substantially the same condition as it was when the seller accepted your offer  near or at the close of escrow.

Finding the right home can be a difficult process but no matter what you are looking for as an experienced knowledgeable south bay area real estate agent I can provide you with the resources you need to make the home buying process simpler and easier.  Enjoy the specific neighborhood information  tools to estimate your mortgage payments and buyer resources and articles that will help you through the home buying process. Click Here for Detailed Demographic Neighborhood Reports Just type in any address to get Demographic Information.

No matter what the  market you're in, you can use the experience of a qualified south bay area real estate agent like me to help sell your home quickly and at the right price. Learn more about my service, get information about recent home sales in your area or contact me to get started today!  Some of the cities I cover are Redondo Beach, Torrance, Lomita, Harbor City, Gardena, lawndale, Hawthorne, San Pedro, Rancho Palos Verdes, and others.



Learn how to evaluate a rental income property in 60 seconds

When you start looking for positive cash flow income properties, or a Income property to buy you might find yourself overwhelmed by all of the Apt Buildings on the market. Your realtor may be sending you a bunch of listings for sale or you may have a list of properties you've found on websites like Realtor.com. How do you know which ones are worth looking at further?

I use a simple calculation to make a quick decision, and it saves me a huge amount of time. When you look at a spreadsheet of potential properties with income to buy (this is how to compare opportunities), take three or four to look at closely in less than five minutes. You can spend hours going over the details and analyzing the numbers only to come to the same conclusion.

So, what's my trick?

Before making your decision to buy a rental income property for sale, all you need are two numbers: the price of the property and the rental income you will get from it each month. If the monthly income is at least 1 percent of the purchase price, it's worth investigating further. If, for example, you have a property that costs $300,000 and it gets $3,000 per month in rent, it's highly likely you will get positive cash flow from it. Here is another Idea: get pre qualified for a loan. make sure to ask your lender how much the mortgage payment is going to be along with your price range you are approved for and compare your monthly mortgage payment to the monthly rents of the  property with income you choose.  If you have positive cash flow then you have a good property.

Also keep in mind some properties rents are under market.  You can update the property and raise the rents to the current market rents in that area. 

And that is a key ingredient to successful real estate investing.

You can even drop the 1 percent to 0.8 percent, and you may still have a positive cash flow property. One percent is just a rule of thumb. You can decide on the exact number you're looking for based on your objectives, the strength of the area where you're buying, the size of the down payment, and the cost of financing.

Once you've found a rental income property with cash flow potential, you still have a lot of work to do to make sure it is a good one to buy. But by using this trick, you won't waste time running the numbers on properties that don't have much potential to be a good deal.

 Note: This is the PERFECT time to scoop up real estate at bargain prices and set yourself up for massive wealth creation when the market recovers.

Call me with your questions I am here to help with your real estate needs. I will help you to locate a property with the highest cap rate and best unit lay out in your target search area. I will help you negotiate the best price and terms so your numbers work hard for you.            

I HELP MY INVESTOR CLIENTS FIND THE RIGHT PROPERTY WITH A GOOD CAP RATE AND A GOOD UNIT LAY OUT.  I FIND CLIENTS THE PROPERTIES WITH GOOD INCOME WITH NUMBERS THAT WORK.  

 We accomplish that by finding the property with the highest Cap Rate and Net Income. We review the most current income and expense statement and we negotiate for the best price and terms possible. We find a good lender offering the lowest interest rates and fees. Upon successful close of escrow a new apt owner can have a property management company take responsibility for management of the property. 





mortgage calculator with taxes and pmi

Try the Mortgage Pay Off Calculator below. Make sure to add in a extra payment monthly to see how much you can save $  in Loan Interest and also see your loan paid of much much earlier….

CLICK HERE FOR THE PAY OFF CALCULATOR YOU MIGHT WANT TO TRY A LOAN ACCELERATION PROGRAM ON YOU MORTGAGE TO AVOID PAYING UNNECESSARY LOAN INTEREST.

Pay Off.png

Mortgage calculators

Use Bankrate’s mortgage calculators to compare mortgage payments, home equity loans and ARM loans. The mortgage calculator offers an amortization schedule.

Home Team Realty

David LeMontree Realtor GRI

Real Estate Agent

Cell:(310) 920-3182
Business:(310) 920-3182

To request real estate services please fill out this form.

Home Team Realty

David LeMontree Realtor GRI

Real Estate Agent

2501 W. 237th Street #CTorranceCA90505
Cell:(310) 920-3182
Business:(310) 920-3182
Fax:(310) 539-4303
CalBRE License #:01336033
Email


RENTER INFORMATION FOR LEASING A HOME.

1. Standard leases start as a 1 year min lease and revert to month to month after 1 year.
2. Standard Lease Deposit is 1/1/2 months rent  for the deposit.
3. Two months rent for the deposit is the legal limit for unfurnished homes and three months rent is the  legal limit for furnished homes.
4. Most leases require the tenant to pay the first $65-$75 of all repairs. The home owner keeps a  home warranty and uses the $65-$75 to pay the deductable when repairs are needed.
5. If you have a pet you most likely will be charged a pet deposit. Typical is $500
6. Deposits are refundable, but landlords do make deductions for cleaning, paint and repairs that are needed to get the unit in the same condition it was previously so it can be rented again.

 Items you will need to put an application on a property are as follows:


  • Application Filled out completely
  • Two most recent pay stubs
  • Last two years w-2′s or a Tax Return
  • Credit Report with all 3 scores
  • Bank Statement
    If you have Bad Credit you will need:
  • Guarantor Letter
  • Previous Landlord Letter

CONTACT ME FOR A FREE CONSULTATION

David LE Montree, Ph. 310-920-3182




HOMEOWNER INFORMATION FOR LEASING YOUR OWN HOME.
 
The Charges for a typical homeowner to lease his/her own home is as follows. Homeowner commissions to realtor is 5-6 % of a 1 year lease agreement.
Example is  $ 2500mo x 12 = 30,000       30,000 x 5% = $1500 Commission
SERVICE INCLUDES:
  • Marketing your home on MLS and Internet.
  • Providing digital photos and full detailed property description of your home.
  • Includes finding a qualified prospect to lease your home.
  • I pre-qualify all applicants before presenting the applications to you.
  • I collect the required financial documentation from all applicants.
  • I provide the proper forms and help in negotiating the terms of the lease agreement.


  •  GET A  FREE RENTAL MARKET EVALUATION. Find out what homes with the same bedrooms, baths and square footage are leasing for in your neighborhood?
Click here to view Rent Control Area MAP

http://www.caltenantlaw.com/LAcommunities.htm

Click here for more Info on Rent Control !
http://www.caltenantlaw.com/RentControl.htm

Click here for California tenant landlord law booklet
 

DAVID S LE MONTREE
HOME TEAM REALTY
2501 w 237th st Suite #C
TORRANCE, CA 90505
CELL 310-920-3182