Real estate investing can be a very worthwhile financial venture, but finding the right properties or lots can be difficult if you’re somewhat new to the experience. Fortunately, in areas of Los Angeles, and especially in the Greater South Bay, it’s a very good time to start looking and, if you find the right spot, make some investments.
WHY IT’S AN EXCITING TIME FOR NEW CONSTRUCTION IN LA
If you’ve lived in Los Angeles and the surrounding area for a long time, you’ve been witness to how much the city has grown over the years. Property value will usually increase as it becomes more sought after, but in LA’s case there are number of very interesting changes happening that will end up having a positive impact on the real estate market.
WELCOMING BACK AN NFL FRANCHISE
One of the most exciting things to happen after the Superbowl this year was the NFL announcing that the St. Louis Rams would be relocating to Los Angeles, which is where the franchise was from originally! While the new stadium in Inglewood won’t be completed until the start of the 2019 NFL season, the city is still very happy to have an NFL team again. This has had a tremendous effect on the real estate market, especially in Inglewood and the closest surrounding cities. Property value is increasing, and all the players, coaches, and staff will likely be moving to cities in the Greater South Bay area.
THE PROSPECT OF HOSTING THE OLYMPICS
Currently, Los Angeles is one of the cities in contention to host the 2024 Summer Olympics. Los Angeles previously hosted the Summer Olympics in 1984, and it proved to be a prime example of how a city can successfully host the Summer games. Because Los Angeles already has so many sporting venues available, much of the funding can be put towards revamping and improving certain real estate markets. If the city is selected for 2024, the value of real estate will continue to increase as different businesses, athletes, and others migrate towards the west coast.
THE ENDLESS APPEAL OF BEACH CITIES
One of Los Angeles’ greatest assets is its climate. Nearly year round, residents get to enjoy sunshine, warm weather, and rarely deal with any hassle caused by inclement weather. The Greater South Bay beach cities (like Manhattan Beach, Hermosa Beach, and Redondo Beach), are not only popular for homeowners in the area, but also investors who rent out their property as a vacation home. Even during the summer months, people will make a trip out to California to experience what all the hype is about, meaning the value of real estate is unlikely to falter.
THERE WILL ALWAYS BE A NEED FOR NEW CONSTRUCTION
With a new NFL franchise, the potential of hosting the Olympic games, and the always beautiful weather, investors should be looking for new constructionopportunities throughout the greater Los Angeles area. The city will continue to grow, and older homes will need to be renovated, and lots will need to be built up to accommodate the rapid growth of the city.