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

Steven Taylor of Taylor Equities on How to Get Started in Real Estate Investing

Steven Taylor of Taylor Equities on How to Get Started in Real Estate Investing 

If you’re interested in becoming a real estate investor, according to Steven Taylor of Taylor Equities, developing a solid understanding of the real estate industry is the best place to start. Like other investment strategies, it is possible to make a profit from a deal, purely based on luck. But, you don’t want to get off on a technicality in business. Long term growth doesn’t happen from one lucky deal. It happens with thorough understanding and extensive knowledge or the market you are working in, along with hard work and dedication.

To successfully get involved in real estate investing, the first step is to do your research. Build your knowledge of the market, the rules of the game, and what has worked in the past. Real estate can return high profits, but before you start purchasing properties, you will have to do the work.

Below, I’ve included a few areas of real estate that I recommend you research before getting started in real estate investing. If these concepts feel beyond your reach, start with reaching out to an expert or mentor who can point you in the right direction.

Understand how to evaluate a property.

The first aspect of real estate investing you should understand is how to evaluate a potential property. Before getting started in real estate, study evaluation methods for acquiring units, buildings, and property. As you build your portfolio, it will be essential that you only add assets that will be beneficial to your big picture goals. You may find that a flashy, exciting property, or a cool fixer-upper may not be worth your time after you properly evaluate it. There are many resources for learning how to inspect units, research potential neighborhoods, consider zoning, and integrate comparative market analysis into your strategy. The goal here is to confidently determine every property’s potential for profit before making purchases. 

Learn how your profit can be affected.

Before getting started in real estate investing, you should make yourself aware of the different ways your profit can be affected. There are several types of cash flow that can change your profit. The most common technique to create cash flow is “flipping.” With this method, real estate investors fix up a building or other property to later resell at an increased price. But, even in this case, other factors will ultimately affect your cash flow, such as your income, how much you pay in taxes, what type of tenants you have, and your vacancies. To understand real estate investing, you must first understand the many ways that your cash flow could be affected.

Build your understanding of mortgages.

In order to have a real grasp on real estate investing, it is necessary that you understand the variety of mortgages available. Before you get started, sit down and research the different types of mortgages, and study the pro’s and con’s of each. This will help ensure that you participate in a deal that will secure your investment. Many new investors don’t spend enough time shopping for the best mortgage, and end up with an interest rate that will not benefit them in the long run. Watch out for mortgage deals that sound too good. If a deal feels unrealistic, get a second opinion. Real estate is a business that isn’t going anywhere.  As Taylor Equities founder Steven Taylor  knows, there should be no rush to jump in. If you learn as much as you can first, you can get started in real estate investing with an advantage.

4 Factors to Keep in Mind When Investing in Apartment Complexes

This article originally appeared on https://steventaylorlandlord.com/4-factors-to-keep-in-mind-when-investing-in-apartment-complexes/

When considering investing in anything, according to Steven Taylor of Taylor Equities , the question you should always ask is: Why is this a good deal? A good deal isn’t just about numbers – a good deal has a compelling story and makes sense. Is the property mismanaged? Stressed? Under foreclosure? The facts should tell a story that explains why the property has value. Developing the instinct to recognize a good deal takes time, but with research, study, and experience you can learn to find the right investments.

Here are four factors to keep in mind when investing in apartment complexes.

1. Cash Flow

The probability of cash flow is a crucial factor to consider. It is important to evaluate how the property will generate cash flow in comparison to other potential properties. To start, ask yourself these questions:

• What is the strength of the rental market in the area?
• What type of market you are buying into (For example, C class buildings often have higher rates of tenant turnover. They can also call for more maintenance and repairs.)
• Financing (How much money are you putting down? What is the interest rate? What type of loan?)

2. Equity

The next thing to consider is if the apartment complex you are purchasing holds equity. If the property doesn’t have equity, can you create it?  Equity in a property can take many forms. A few to look for are:

• Discounted listing price
• Foreclosure
• Upside potential (Fixer-upper)
• Poor management
• Opportunity for rezoning

While there are ways to create equity, you are better off buying into it. Be on the lookout for motivated sellers who... continue reading on Steven Taylor of Taylor Equities

Steven Taylor of Taylor Equities on Investing in Real Estate During a Recession

Steven Taylor Taylor Equities- Investing in Real Estate During a Recession

This article originally appeared on 

https://steventaylorla.kinja.com/steven-taylor-of-taylor-equities-on-investing-in-real-e-1843247143

In the face of the COVID-19 crisis, many young entrepreneurs are questioning whether they should invest in real estate during a recession. While there will always be pros and cons to investing in any market, I’m here to share what I’ve learned over the years about the best time to invest.

Steven Taylor ofthe real estate group, Taylor Equities, says, “there will always be opportunity in a down market, and there will always be a down market coming...eventually”. The important thing is to wait for the right opportunity, not just the right timing. Investors in the multi-family or rental sectors will most likely experience multiple recessions over the lifetime of their career. Worrying about or waiting for a recession shouldn’t stop you from investing. Of course, you should consider the market, but the most important factors should always be the value of the property and the opportunity for growth -- regardless of when you buy. 

If you know what to look for, you can find a good deal in any market. Let’s take a quick look at the pros and cons of investing in real estate during a recession.

Pros of Investing in Real Estate During a Recession

-       If you find a property you are interested in during a recession, you may just be able to negotiate a better deal. Sellers may be more desperate to get a property off their hands if they need the money in a depressed market, especially if the building has been listed for a while.

-       When the stock market is doing poorly, many investors find real estate investing to be a safer bet. In a time of uncertainty, real estate investing tends to be a more predictable income stream than many other options. Even when the market is down, people need properties to live in and to run their businesses. Real estate is a market that will always exist.

-       Investing in a property or even a real estate investment trust can diversify your portfolio during trying times. Continue reading