Q. Hey Odest, with all the growth in the city of Inglewood and the expansion of the rail, I was wondering if you thought my rental property in Gardena would go up in value? It is really close to the Inglewood border.
A. Hey David, thanks for reaching out. While I am not 100% clear on where your rental property is in proximity to the Inglewood city border, I would say with everything happening in the City of Champions, you could possibly see a slight premium in the value of your property. Some people who might not be able to find a home in the Inglewood border might look at neighboring communities to fit their housing needs.
Q. I was left a small inheritance from my great aunt and wondered if I should buy commercial or residential property?
A. Hi April, that is a great question and it really depends a lot on how much money was left to you, and if you are currently a home owner. If you are a home owner and have a good tolerance for dealing with people and problems, I would say get a commercial property. However, if you really don’t want the headache of a lot of moving parts and people, it might be easier to buy a single family home, or duplex where you would only be dealing with a few select renters. You would also want to discuss this with a tax professional, who can advise you on the best options in your specific situation.
Q. With the Super Bowl coming to Inglewood in 2021, how do you think that will affect the housing prices in the community? And, do you think it will be a good or bad thing?
A. Juan, isn’t that great news? Inglewood is back. With the Super Bowl coming to town, it means a lot of new infrastructure will have to be built. With new infrastructure come thousands of jobs, that will be created and millions of dollars of tax revenue into the city. Besides a spike in traffic due to construction I really can’t see too many negatives.
I am not an expert on every subject, but when it comes to real estate, lending and personal finance, I have been lucky to be around some of the smartest, hardest working people in those fields. And now I have the opportunity to pass this wealth of knowledge along to you. So ask me anything and if I can’t personally answer it, I’ll reach out to someone who can.
As always, at WLM Financial we are here to assist you with all of your real estate and mortgage needs. From buying and selling to refinancing your home, we can help you along. Our goal and my dream is to teach people how to get in the position to be financially free and with a little bit of hard work and endurance you can get there.