Steven Taylor on What to Look for in Los Angeles Commercial Real Estate

Steven Taylor- Los Angeles What a view

If you’re an investor interested in joining the game of commercial real estate, Los Angeles is a popular market. Commercial property can be a lucrative asset, but all real estate investments are inherently risky. Like in any other city, it is essential that you put your capital into the right building. By properly researching Los Angeles properties and looking out for red flags, you can make sure you are picking up a property with a good chance of success.

But what do you look for in Los Angeles commercial real estate? In this article, Steven Taylor, of Los Angeles, shares his expertise on what signs to look for on your journey to invest.

What do investors look for in Los Angeles neighborhoods?

In Los Angeles, it’s often a very fine line between a downtrodden area that is about to skyrocket, and a neighborhood that is going downhill. Buying in a low value area can be a fantastic opportunity to get in on the ground floor before a neighborhood becomes popular, but it only works if things go your way. When looking at buying commercial real estate in Los Angeles, you want to look not just at the specific neighborhood, but the growth of the entire surrounding area. Where is the movement coming from? Get specific. You can never do too much research. Los Angeles native Steven Taylor, an experienced commercial real estate investor, says to look closely at job growth in an area. If local businesses are expanding and hiring, the market could be on the rise.

On the other hand, you should be looking out for red flags that a neighborhood is heading downhill. Watch for businesses shutting down, influxes of renters moving out, and declining traffic. Don’t be afraid to ask — talking with local business owners directly can be a great way to get clear insights about a neighborhood.

How does a commercial real estate investor assess property condition?

When investing in Los Angeles commercial real estate, one of the most important purchasing factors is the property condition. While it can be profitable to buy a property as a fixer-upper, if the building needs extensive repairs to function successfully, you have a lot to consider. There are a lot of old buildings in LA — some just need repairs for cosmetic appearances, but some need a complete overhaul to be usable. If you aren’t careful, you may get stuck in a situation dealing with repairs that cost you more than they’re worth. If you’re looking for a property you can improve without ending up with a money pit, here are a few signs Los Angeles native Steven Taylor looks out for:

Los Angeles Commercial Real Estate checklist:

1. High ceilings: It is common for renters of commercial properties to require high ceilings to operate correctly. While low ceilings can be raised, it can be unpredictable how construction will go until you get started, and there can be a lot of unexpected costs. Make sure ceilings are in good condition, and that the ceiling height fits the needs of renters before investing.
2. Good roof: One of the most common and expensive repairs for a commercial building is updating the roof. If a commercial building needs a new roof, it is going to cost significantly more than it would at a residential real estate property. When looking for properties in Los Angeles, focus on buildings with strong roofs with minimal leaks or damage.
3. Strong walls and floors: Steven Taylor always walks through a commercial property looking for small signs of bigger damage and issues. Look thoroughly for any small cracks or other signs of settling in the floor or walls. If there is anything unusual, have it looked into immediately. A good commercial real estate property has a solid foundation that won’t settle.
4. No environmental damage: In Los Angeles, there are a lot of commercial properties in industrial areas. If you are purchasing a building in one of these areas, you want to look out for clean buildings that don’t have any sort of contamination. Environmental contamination can turn into another money pit, so be on watch for any chemicals or other contaminants that could affect the working or renting conditions of the building.

Originally published at http://steventaylorlandlord.wordpress.com on February 11, 2021.

 

Steven Taylor – Moving to Los Angeles? Here’s What You Need to Know

 

Steven Taylor Los Angeles

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If you’re thinking of moving to Los Angeles, you probably have a lot of questions. Los Angeles is clearly a popular place to live — 3.9 million people currently choose to live in the LA area. But, is it right for you? Before you make any move, you should do some market research. It is important to understand the culture, lifestyle, real estate, and other aspects of a city prior to making a jump. In this article Steven Taylor, Los Angeles Native and real estate professional, answers some of the most common questions people ask him when first moving to Los Angeles.

Who will I meet in Los Angeles?

One of the most beautiful things about Los Angeles is its diversity. LA has always been known as a melting pot, and for good reason. The city has great cultural, ethnic, and experiential diversity. Moving to Los Angeles can expand your horizons — according to the 2019 US census, Southern California residents hail from 180 different countries, and 59.1% of people speak a language other than English. With a population of 3,979,537, LA is home to many different cultures. The city is currently 49% Hispanic, 29% White, 8% Black, and 12% Asian. This diversity contributes to Los Angeles’ epic cultural, art, and food scenes!

In Los Angeles, you will meet people with passion. A large portion of LA residents are transplants, who moved to the west coast to pursue their goals. Everyone has their own reasons for coming to LA, but it has always been a home for big dreamers. Whether you’re an entrepreneur or hoping to become a star, you will meet like-minded people in Los Angeles.

What do people do for work in Los Angeles?

Los Angeles is a land full of opportunities. Whether you are looking for a more traditional work lifestyle, hope to work from home, or are pursuing seasonal or gig work in the entertainment industry, there is work for you in LA.

When people think of LA, many of them first think of the entertainment industry. While it’s true that many Angelenos are employed in the world of film and television, some of the most common jobs in LA outside of Hollywood are retail, real estate, tourism, healthcare, and education.

While many people still work 9–6 type office jobs in Los Angeles, a large portion of the population works on flexible schedules. Jobs in entertainment, fashion, hospitality, and other industries provide the opportunity to make your own hours or work an atypical schedule. Los Angeles native, Steven Taylor, says this means you’ll find more people out and about exploring the city during typical weekday “working hours”.

Is the traffic really that bad in Los Angeles?

This quick answer is — yes. Unfortunately, sitting in traffic is part of the reality of living in Los Angeles. How bad is the traffic? That depends on where you are coming from, where you are going, and at what time. While Los Angeles does have public transportation, most people still commute by car. The COVID-19 pandemic has decreased traffic as more people are working from home, but the problem is not completely solved.

There are wonderful rewards that come with living in Los Angeles, so traffic is an annoyance many people are willing to put up with to live here. The best thing you can do is avoid driving on the major highways at peak hours, and take public transportation when you can! No one likes traffic, but Los Angeles native, Stephen Taylor, says it’s worth it to experience all that Los Angeles has to offer its residents.

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Originally published at https://steventaylorlandlord.com on February 5, 2021.

The Best Beaches in Los Angeles — Steven Taylor

 

Steven Taylor in  Los Angeles with family at the beach

Los Angeles is famous for many things including its food, art, entertainment, and culture. Los Angeles is also known for its biodiversity — it is a short drive to an incredible variety of mountains, deserts, and beaches. Los Angeles native, Steven Taylor has witnessed firsthand the pull of LA’s beautiful beaches for homebuyers. As a real estate expert, he is familiar with the many amazing beaches along the stretch of coastline from Malibu to the Southbay. In this article, he shares the best beaches in Los Angeles, whether you’re a local looking for your new favorite spot, or a tourist exploring for the day.

Venice Beach

Venice beach is a hotspot in Los Angeles for homeowners and visitors alike, and it’s plain to see why it’s so popular. Venice has always been known for its artsy, hippie vibe. It’s a home to surfers, creatives, designers and all of those who want to soak up the scenery they provide. Walk the oceanfront boardwalk that runs the length of the coastline to find artists and street performers, as you check out the surf and soak in the sun. If you’re interested in real estate, wander the Venice Canals to find uniquely beautiful homes perched along the water.

El Matador

El Matador is a secluded beach in Malibu with a rocky coastline, beautiful sand, and waves worth watching. The area is a popular spot for photo shoots and beach dates due to its romantic scenery and close proximity to a variety of great shops and restaurants. If you’re looking to make a day of it, El Matador State Beach is a great choice for locals and tourists alike.

Malibu Surfrider Beach

The Surfrider beach in Malibu is arguably the best place to surf in the entire Los Angeles area. Not far from the Malibu pier, the beach is famous for its perfectly rideable waves, and approachable waters for both newbies and professionals. If you would prefer to stay safely on the warm beach, you can people-watch the surfers tackle the water instead at this iconic spot.

Santa Monica Beach

LA native, Stephen Taylor, argues that Santa Monica beach may just be the best beach experience for those visiting Los Angeles. The beach boardwalk winds past great shops and dining options. Sunbathers and surfers enjoy views of the skyline and Santa Monica pier, which boasts its own amusement park and arcade. The sandy area of the beach is deep and wide, making it perfect for social distancing. The beach is also great for getting a good workout in — there are multiple outdoor exercise areas and plenty of places to rent a beach cruiser for cycling along the bike path. Whether you’re hoping for a lazy afternoon or an active experience, Santa Monica beach is a great option.

Pelican Cove Beach

Located in Palos Verdes, an area that, Steven Taylor, Los Angeles native explains is a real estate hot-spot, Pelican Cove Beach is a place to see. Cliffside mansions line the bluffs of the coastal area, and Pelican Cove Beach allows access to the quiet and secluded waters. The beach is rocky and can only be reached by a steep walking path, but the hike is worth it. Once you reach the bottom, you can experience the tide pools, gorgeous views of Catalina, and popular scuba diving coves. This beach may not be the best choice if you are looking to play in the sand, but it’s great for an afternoon excursion to experience all the nature the LA coastline has to offer.

Originally published at https://steventaylorlandlord.medium.com/the-best-beaches-in-los-angeles-steven-taylor-e4b85731ffa1

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Steven Taylor Taylor Equities

Steven Taylor of Taylor Equities in Los Angeles https://steventaylorlandlord.com/

Steven Taylor — Los Angeles at a Glance — Things to Do in LA in 2021

 

Steven Taylor Los Angeles , CA

Even in the midst of a pandemic, Los Angeles is full of things to do. If you are looking for safe activities for a date night, family outing, or solo adventure, there are plenty of fun options to explore. Whether you’re interested in checking out LA’s extensive dining scene, getting out into nature, or discovering new art, there’s something in LA for everyone. Many of Los Angeles’ best landmarks are still accessible to locals and visitors. Here is a list of 4 fun, affordable activities you can do in Los Angeles in 2021.

One of Los Angeles’ defining features is it’s close proximity to great beaches and coastal scenery, but many locals don’t take advantage. If you’re looking to get out of the house, head over to the coast and take a cruise up the Pacific Coast Highway to Malibu or Ventura. Steven Taylor Los Angeles native, recommends LA residents and tourists alike check out the Palos Verdes peninsula, where you can see beautiful oceanfront views, winding coastal roads, and dramatic bluffs. Soak up the scenery, and check out some impressive real estate along the drive!

Los Angeles is known for its diversity, culture, and creativity, all which contribute to the city’s top-notch dining scene. While restaurants are still closed for indoor dining as of January 2021, plenty of LA’s best restaurants are open for to-go orders. Chefs are getting more and more creative, and many spots have multiple course tasting menus available for those who want to step up their dining-at-home game. The LA Times is even hosting virtual dinner parties that are a collaboration with local chefs and celebrities. Just because you can’t dine out doesn’t mean you can’t enjoy the best food experiences LA has to offer.

If you’re feeling cooped up inside, getting out to take a bike ride can be a great way to reset. If you don’t own a bike, there are many places to rent along the boardwalk in Venice. If you’re looking for a city ride, you can venture into downtown Santa Monica to ride along their well-developed bike lanes. If you’re feeling more adventurous, you can bike the Strand, a twenty-two mile bike path along the Marvin Braude Trail, which traces the coastline. Start at Will Rogers state beach, and make your way all the way down to Torrance if you’re ready for a workout! Los Angeles native, Steven Taylor, likes to explore the tail with his kids, making it an event for the whole family.

Due to the pandemic, many people are missing the experience of going to the movie theatre, and tired of watching movies on the couch. The good news is that the Southern California area has several options for drive-in movie theaters that make for a great family outing or date night. Drive in movies are affordable, fun, and can be a nostalgic throwback to simpler times. Lucky for you, LA Magazine put together this comprehensive list of current drive-in and outdoor movie options.

Originally published at https://steventaylorlandlord.com on January 19, 2021.

Steven Taylor on how Los Angeles Real Estate Has Been Impacted by Covid-19

 

Los Angeles native Steven Taylor with wife Natalie

Los Angeles is now the national epicenter of the COVID-19 pandemic, and has been dealing with the Stay at Home order since March. The widespread impact of coronavirus has been profound, but how has Los Angeles real estate been impacted by COVID-19? While many expected the housing market to plummet, there has been a surprising twist: Los Angeles housing has actually been hot in recent months. Homes are selling fast, and real estate experts like LA native, Steven Taylor say credit is partly due to the coronavirus pandemic.

In the last few months, home sales rose 19% in Southern California. While many lower-income workers are unemployed and facing evictions, the pandemic has actually left higher-income employees in good financial standing. These middle to upper class residents are left in a good position to buy new homes, and the pandemic has only increased their motivation to do so.

Being stuck at home has been a major inconvenience to many Americans, including Los Angeles residents. A large number of families in LA live in multi-family housing units, or small one-story homes. Now that everyone is working from a home office, homeschooling their kids, and trying to stay sane, people are scrambling for more space. Lack of privacy and cramped quarters are motivators for families to sell their starter homes and move into larger houses as soon as they have an opportunity.

This burst in buyer motivation has put Los Angeles Real Estate in a good place, even as we approach the year-mark of the international pandemic. Markets are high, interests are low, and those who can afford to are taking advantage. Why would residents who are looking to upgrade stay in a tight apartment? According to Steven Taylor, Los Angeles native and real estate investor, home-purchase mortgages are up 25% from 2019. “When it comes to the LA residential real estate market, it’s as if the pandemic recession is a non-factor.”

Upper-class families aren’t the only group applying for home mortgages. Los Angeles is full of millennials who are shopping for homes for the first time. LA is a city of opportunity, and when it comes to success, age doesn’t discriminate. The tech, social media, and entertainment industries have put many young people in a position to invest in real estate. Young home buyers are scooping up properties fast. Zillow predicts that this could be the best year for residential housing sales since 2006.

On the other hand, commercial real estate has taken a hit since March. The majority of those who are still employed are now working from home, and office space rentals are steadily declining. The new normal has significantly decreased the demand for commercial real estate in Los Angeles. While this could be seen as a negative, it has also opened up opportunities for investors to transform spaces to create much needed affordable housing.

As we move into the spring, real estate investors will be keeping their eyes on the numbers. Will the LA housing market continue to soar? How will commercial real estate adapt to meet new demands? It is clear that COVID-19 has had an impact on Los Angeles real estate - the results may continue to be even more unpredictable than anyone expected.

 

Taylor Equities - What a First Time Landlord Needs to Know

 

Steven Taylor of Taylor Equities - What a First Time Landlord Needs to Know

Being a landlord can be a profitable and rewarding experience. As a landlord, you can build your wealth, utilize second properties you may already own, and run your own business. But, managing a property also requires extensive time and effort. Regardless if you are just leasing an extra property to a friend or family member, or running an entire apartment complex on your own, you need to be prepared. If you’re a first time landlord, take the time to thoroughly research the industry and you will be set up for success.

Here are five tips that first time landlords should keep in mind before renting out a property.

1. Examine your rental price range.

If you’re like most first time landlords, you’ve likely invested substantially into your property. You are also likely going to be dependent on the income the rent generates monthly in order to keep up with the mortgage. While your instinct may be to raise rents to increase your profits, you must first consider the rental market of your region. If you live in a popular area, you may be facing strong competition. As a first time landlord, you’ll want to ensure that your building is enticing to potential renters, while also keeping your expenses in mind.

2. Set clear expectations with tenants.

This may sound obvious, but you must make collecting rent on time a priority. Your property is your business, and without your primary source of revenue – rent – it will fail.  Be clear about your expectations when your tenants move in so there isn’t any confusion on policy. Let your residents know the rental due date, as well as how many days the grace period is for payments that are late. If rent is paid beyond the grace period, it is important to enforce penalty payments. Be sure to screen all potential tenants before they move in. By checking their rental history, asking for references from past landlords, and running their credit, you can help ensure that you rent your units to responsible residents.

3. Prepare yourself for vacancies.

If you have loss-of-income insurance, you may be protected from vacancies during a disaster or other external damage to your property.  But if you have vacant units simply due to low demand or high rents, you’ll be out of luck. Always have money saved that can be used to pay the mortgage on your property during times without tenants. If this is a frequent issue, it may be time to consider lowering the rent.

4. Become a master at record-keeping.

Owning a rental property can be helpful when tax season comes around. But to enjoy the tax benefits that come with being a landlord, you will need to have detailed expense records in order to defend your write-offs. These records will benefit you in other arenas as well – when you know where your money is going, you can accurately assess how your business is doing. Keeping detailed records of the conditions of your property, including damages, alterations, and other changing wear and tear, will help you in the long run. The key is to create good record-keeping systems, whether you track expenses and notes on your own, or use and online tracking program.

5. As a First Time Landlord, get help when you need it.

If you are overwhelmed by the work required to be a landlord, you may want to consider hiring a property manager. A property manager can take many responsibilities off your plate. Many first time landlords hire a property manager as they grow their portfolio and begin renting multiple properties. You should consider the cut to your profits, but also consider the time and energy you will save. If you can afford a property manager, you may be able to focus your time on other streams of income or expanding. – Steven Taylor, Taylor Equities

Article originally appeared https://steventaylorlandlord.com/what-a-first-time-landlord-needs-to-know/  

Steven Taylor Taylor Equities on 3 Different Ways to Invest in Apartment Complexes

Steven Taylor Taylor Equities on 3 Different Ways to Invest in Apartment Complexes  

This content originally appeared on https://steventaylorlandlord.com/steven-taylor-taylor-equities-on-3-different-ways-of-investing-in-apartment-complexes/

Investing in multi-family units can be a fantastic way to add to your portfolio and earn passive income.  According to StevenTaylor Taylor Equities, there are many different ways to invest in apartment complexes. The strategy you use will depend on your desired level of involvement, your available capital, and other factors.

Here are 4 different ways to invest in apartment complexes:

1. Purchase units yourself.

The first way to invest in apartment complexes is the most simple - buy the building yourself. This would require extensive upfront capital. For many, this method might sound impossible. You would need to do extensive research and the responsibility of the deal would fall on you alone. In order to purchase multi-family units on your own, you would need to first save the proper amount of funds, and come up with a clear picture of your budget. Research the market and examine different deals. You may choose to take out a loan. This method requires you to later find property management and other decisions in regards to handling the property.

Purchasing on your own requires more work, but also has many benefits. As the sole owner, you get to choose your investment strategy, how you would like to run your property, and when you would like to sell.

2. Purchase with a partner. 

For many new real estate investors, it is easier to purchase for the first time with a partner. If you don’t have all of the funds you need to get started, partnering up with someone you trust can be a great way to pool capital. Another advantage of buying with a partner is that you can learn and grow in your strategy together. Having someone to discuss a deal with can be valuable... continue reading