Landlords and Leasing 101

27 Feb 2015 · by ChrisSampaio

math-problemAt Loftway we do a lot of leases every year. We advise landlords every day on what to price the Lofts at to get it leased, but sometimes they go against our advice.

Most of the time they want to go higher than we suggest, but a few times for their surprise they are at a lower number.

When they want to go higher they are usually basing their number on their monthly cost (mortgage, HOA, taxes) and not on market value. Although will be nice to be able to break even in every single investment property a lot of times is not possible. Either because the landlord did not have a lot of money down when he bought the place or because the HOA’s are too high for whatever reason sometimes they are negative every month.

Most things in life are simple math and this is one of them. Instead of worrying about the monthly amount you have to think about the full amount.

Lets see how it works in this example:

The rent is $3,000 per month, so the annual rent is $36,000 per year.

If you give a discount of $100 per month ($2,900) the yearly amount is $1,200.

Now for every month that you are vacant at $3,000 you are losing $3,000 per month.

By that logic, even if you discounted $200 ($2,800) yearly $2,400 you would still make more money per year than if you did not reduce and took you longer to lease the place.

If you priced really high, you might find someone eventually, but will take longer and you would lose more money. You could also not find anyone at the high amount and have to reduce in the end anyway and therefore lose even more money.

Conclusion, price it right to begin with and you will end up with more money in your pocket.


New High-Tech Loft Gadgets

20 Feb 2015 · by Virtual Results PubSub

New High-Tech Home GadgetsAs with The Jetsons cartoon, our imaginations run wild with the idea of modern gadgets to make our Lofts efficient and automated, and make our lives simpler. For cutting-edge products you can control from your smartphone, check out these contributions from the International Consumer Electronics Show. Held each year in Las Vegas, the event showcases technological advances and products that offer cutting-edge advances in consumer technology.

Loft security

Loft security cameras work well when you’re Loft, but what about when you’re away? The DoorBird Loft security camera sends an alert to your smartphone every time your doorbell is rung. The integrated speaker system allows you to talk to the visitor even if you’re not there, and keeps track of who comes and goes. You can even open your door for delivery, cleaning and repair personnel from another room or another location.

The system comes with a motion sensor, Wi-Fi connection and available add-on cameras. The DoorBird runs from an app on your Apple iOS or Android device.


No matter how efficient the heating and air-conditioning is in your Loft, one room or another may be warmer or cooler than the rest of the Loft simply due to its orientation to the sun. There is no longer any reason for one room to be sweltering and another to be freezing with the Ecovent.

Working with your existing central air system, the Ecovent replaces your current wall, floor or ceiling vents with battery-powered vents that open and close automatically to send the cool air to where it’s needed most. The system knows the temperature in every room and adjusts the vents accordingly. Operating from your smart phone app, the system also works with smart thermostats such as the Nest learning thermostat. Easily installed by most do-it-yourself-ers, the Ecovent system improves energy efficiency by up to 30 percent.


Okay, your Loft doesn’t really have an attitude, but you do. And bright an early in the morning it can be a little testy until you get your first jolt of caffeine. Or, what about a fresh cup when you walk through the door at then end of a long day? Introducing the Smarter Wi-Fi coffee machine that grinds, brews and pours your coffee all from the control of your smartphone app.

This coffee maker alerts you when your coffee is ready and offers you a fresh cup of coffee when it detects that you’ve arrived Loft. While there are other smart coffee makers on the market, this one differs in that it brews a single serving instead of an entire carafe.

Having high-tech gadgets for your Loft is great, but what if you just need the Loft? We can help you with that. Give us a call and we’ll help you find a Loft for all those gadgets to go in.


Tax Tips for New Loft owners

6 Mar 2015 · by Virtual Results PubSub

Tax Tips for New HomeownersCongratulations on your new place!

Whether a condominium, cooperative apartment, single-family home, townhouse or mobile home, your home-sweet-home affects your tax status. If this is the first year you’ll be filing your taxes as a homeowner, there are a few things you need to know to take the most advantage of your new status. Before filing your taxes, be sure to discuss each of these with your tax professional.

File a Schedule A

If you’ve been used to using the EZ forms to file your taxes, you’ll need to remember to use the 1040 Schedule A instead. It is more complicated than taking the standard deduction, but you’ll be able to itemize costs like mortgage interest, property taxes, the points you paid to get your loan, and mortgage insurance.

  • Mortgage interest: By far the biggest tax break, your mortgage interest is the biggest expense reflected in your house payment. In fact, most of what you pay in your monthly mortgage payment often is interest. In fact, unless your loan is for more than $1 million, you may be able to deduct all of that interest.
  • Home equity line of credit: In general, equity debts up to $100,000* are fully deductible.
  • Points: If you paid points in order to get a more favorable interest rate on your home purchase, the IRS lets you deduct them in the year that you paid them under certain qualifications. Those qualifications include, among other things, that you used the loan to purchase or build your main residence, and are an established practice in your locality. Points paid on a loan for a second home typically must be amortized over the life of the loan.

In addition to the items connected directly with your home, the Schedule A also allows you to itemize personal property tax, state withholding and local taxes. If you donated furniture, clothing, appliances, and other items to charity when you moved, you’ll be able to itemize your charitable deductions as well.

Know your exemptions

When you file a W-4 with your employer, you choose the exemptions you are allowed to claim. When you own a home, you may be able to claim more exemptions on our paycheck. Carefully balancing your exemptions allows you to take home more money in your paycheck during the year, giving you more cash in hand to pay on your mortgage.

*Some exceptions apply.


Getting Organized to Sell Your Loft

27 Apr 2015 · by Virtual Results PubSub

Getting Organized to Sell Your Home

When you’ve lived in it for a long time, getting a Loft ready to sell can seem daunting. If you are considering selling your Loft this year, make it your New Year’s resolution to get started early. That way, whether you decide to sell or not, your Loft is organized and easier to maintain.

6 Ideas to help you get organized now!

  • Stop adding to the clutter. If it is your habit to purchase multiples of sale items, stop! Or, if these are items you use all the time, reduce the number of multiples to no more than you will use in a month or so. Instead of ordering large quantities, place items you use consistently on a schedule for reorder instead. That way, you’re not filling up your shelves and closets with the extras, but you won’t run out either.
  • Plan where things go. Set aside a couple boxes or bags to handle items you plan to give to charity and those you plan to give to family members and set aside what to sell at a garage sale. Consider keeping the boxes or bags in your trunk. That way, as soon as they get full you can deliver them where they need to go. For items that you intend to keep, take them to the location they belong immediately.
  • Choose one thing. This week, simply choose one thing to organize. It can be a drawer, a closet, a storage bin… It really doesn’t matter what you choose, but make sure it is achievable in one day. So, if your attic is a massive project, don’t start there. Each week (or each day if you’re really motivated) choose another item to organize. Even if it is just your medicine cabinet, organize it by getting rid of expired medicines (take them to your pharmacist for proper disposal), old make-up and items you haven’t used in a couple years.
  • Don’t fear your piles. Sometimes, when you’re in the midst of getting organized, you need to have piles, stacks or other groupings of things that need long-term storage or that you need to deal with. If the item is long-term, you can set it in one of your planning boxes. If it needs to be dealt with soon, choose one evening (or morning) each week to quickly go through and file, mail, respond, etc.
  • Find a way to handle paper. There are a few papers that must be kept: original birth certificates, marriage licenses, contracts, etc., but many items we keep in paper form could be kept digitally in far less space. Consider getting an organizing scanner such as a Neat scanner that can scan and organize receipts, bills, business cards and myriad other paperwork for you.
  • Let go of items you don’t use. Just because Aunt Sally gave you a toaster for your wedding six years ago, don’t let it fill up your counter or cupboard space if you’re not using it. Donate it to a charity that can get it into the hands of someone that will use it. To make certain to protect the sentimental value of the gift, start a virtual scrapbook with images of items you give away, and a short note of who gifted you with the item, a special memory about that person and where you gave the item.

Organizing just the first step toward preparing for a sale.

We can help you plan for your Loft sale by walking through your Loft and showing you what items to consider fixing or updating, items of furniture you might want to pass on or put into storage to prepare your Loft for staging and things to consider to add curb appeal. Contact us today to get started.


Downtown LA Universal Open House

6 Feb 2015 · by ChrisSampaio


Starting this month on the 2nd Sunday of every month all agents in Downtown Los Angeles will hold their listings open, rain or shine, they will be open. This way buyers can know for sure that if they head down to Downtown then they will have lots to see.
Before was hard to know what would be open and buyers were lucky if they found one one house.

For this reason all the agents and brokers in Downtown got together and joined forces to have one big open house day per month. This Sundays List is below and every second Sunday of the month will be published on this blog. Happy hunting!

1100 S Hope St #510 1-4

108 W 2nd St #510 1-4

645 W 9th ST #208 11 to 3

630 W 6th ST #202 12 to 3

1100 Wilshire Blvd #2702 1 to 4

1100 Wilshire Blvd #2001 1 to 4

1100 Wilshire Blvd #2805 1 to 4

420 S San Pedro St #529 2 to 4

420 S San Pedro St #206 2 to 4

416 S Spring St #409 1 to 4

510 S Hewitt St #107 1 to 4