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Permanent Vacation – Buying Apartment Los Angeles! Simple Explanation of Steps, Advantages, etc.

L.A., how to buy an apartment in Los Angeles. This is what we tell you about in this easy to read guide. Even if you know nothing about real estate, investing, or finances, we’ll tell you verything you need to know. Buying an apartment is a great investment, and if you’re renting, it’s a way to stop throwing money out the window every month. Let us take you through our guide on buying an apartment in L.A. Our friends at Lukinski have written this guest article

Buying an Apartment in L.A. – Vacation Vibe at Home

The place where your favourite celebrity probably lives… or at least has a three story luxury apartment. You want to live in the sun, meet celebrities on your way to grocery shopping, and not to forget, Hollywood, Bel-Air and Beverly Hills. On top of that, Los Angeles has everything else you need. Fashion, mountains, surf, the best bars and clubs in the world, and everything else.

Why Buy an Apartment?

Buying an apartment is almost certainly a good investment. Imagine you visit L.A., and instead of booking a room, you just need to remember to bring the key. To your own apartment! a place that you can decorate how you want, where you know your neighbors, and without worry, invite your friends over for a party.

Downtown – Where things Happen in L.A.

Want to be close to the action? Downtown L.A. is one of the most desired places to live in the city of angels. The price of this beautiful apartment? A strong $12 mil. This exclusive penthouse is in the Ritz-Carlton, and does not shy away from expense. This multi-million dollar piece of luxury will have you feeling like a superstar, with sleek design and top-level appliances. Look at those views!

  • Price: $12 mil.

Why Should I Buy in Los Angeles?

Buying an apartment in Los Angeles has more advantages than we can name here. Apart from the endless leisure opportunities from nature in the form of ocean, mountains, and forests, you have fashion shows, some of the world’s best shopping, museums, movie stars, etc. The advantages continue though, because right now is the right time to buy in L.A. Rent is comparably high, and the city is so popular that it is very unlikely that values reduce.

Hollywood, High-Tech, and Industry

You may think of Los Angeles only as a town of movie-making rich-people. It may be surprising then to hear that it is also a premier destination for high-tech startups. With Silicon Valley and San Francisco so close, these companies prefer Los Angeles. It’s also home to some massive industry, as well as a financial metropolis.

  • Population: 4,0 mil.

The Beauty of the City – Drone over L.A.

Los Angeles is also considered one of the most beautiful cities to live. You find endless beautiful suburban, inner-city, and palm-lined neighbourhoods. Sunsets at Venice Beach or a cocktail in your Bel-Air mansion? Why not. Take a look at how beautiful L.A. can be:

Why should I Buy an Apartment?

Because it’s a financially responsible decision, which you’re going to have fun with! Those are the two top reasons why you should buy an apartment. The financially responsible part will be explained later on, but when you hear ‘investing in real estate’ you never really think about the fact that real estate means you buy a place to live. Buying an apartment in L.A. therefore means not only being the owner of something which is gaining value over time (the way it does when you invest in other things like stocks), but also having your own luxury apartment in one of the world’s most desired cities. No more waiting in hotel lobbies, or booking a room in advance!

  • Make money off your investment
  • Have fun with your investment!

Where do I start with Buying an Apartment?

Maybe you’re not fully convinced yet. Even if you are, let me sweeten the deal. If you think about it, buying an apartment isn’t more expensive than renting it. That’s because when you buy an apartment, you will typically take out a loan (or mortgage, in real estate lingo, more on that further down), and pay off a bit of it each month. If you’re thinking, that sounds a lot like renting it, you’re right. The only big difference is that, when you’re paying off the loan, you’re beginning to own the apartment. Once you’ve paid off the whole loan, you will be the owner of the apartment, meaning you can sell it for just as much as you paid each month. In some areas of the city, the rent you would pay in 3 years would have been enough to buy the whole apartment.

  • With your past 3 years of rent, you could have bought your apartment!

What’s the Hook?

You may be thinking that it all sounds too easy. Well there is one hook to the whole paying off a loan with monthly payments. You have to pay what is called a downpayment. When you buy a piece of real estate, and take out a mortgage (remember, a mortgage is just a loan to pay for real estate), you pay a percentage of the total amount up front, and then pay off the rest in monthly payments. On the other hand, you can also see it as a bank paying 80% of your apartment, and you only pay a small piece of it. The key here is that, just like paying for a vacation, you save up once, and afterwards pay the same amount as your rent, and you’re making money.

When you buy real estate, you only pay 20%!

What you Have to know About Apartment Hunting!

These are the things you have to know about buying an apartment. Remember! Even if you’re not looking for an apartment specifically right now, these tips can be helpful, because sooner than later, you may find yourself looking into buying an aprtment, and many of these tips are things you can do right now that will make your life easier when the day comes.

Start Doing this Now!

Even if you’re years away from buying an apartment, you need to start taking care of your finances. That means, keep bank statements, and keeping track of loans. Most importantly though, when you buy an apartment, your past finances will be checked (called a credit report). If this check shows that you took out many loans, took a long time to pay these back, or worst case, failed to pay these back, you’re going to have a hard time finding a company to loan you money without charging exorbitant sums of interest. That means, avoid using your credit card, start saving as much as you can in case of unexpected expenses, and pay back anything you owe as fast as possible.

  • Care for your finances!

The Negotiation

When you get to the point of buying the apartment, you’re going to have to do some negotiating. Here, you can save you thousands or make the seller breaks off the deal. Not to worry though, we know exactly how you can save thousands, as opposed to lose the deal. When buying an apartment in Los Angeles, negotiation takes place like this. You make an offer. This is either renegotiated or accepted. Then, a building inspection is conducted, after which you can typically, based on the inevitable issues which the inspector finds, renegotiate again and reduce your price.

  • Always renegotiate!

Remember that on top of the ‘up-front’ cost of the apartment, you will pay additional costs, such as transfer taxes and title fees. These can be a few thousand dollars if you’re unlucky, but in your negotiation, you can ask the seller to pay these, while you only pay the up-front cost.

Negotiate Closing Costs!

The famous Venice Canals offer up countless walks enjoying the unique urban architecture

Know What you’re Looking For!

You probably know what you like, but what is it called? A two-story walk-up? A studio? Do you want a front-gabled with a Stucco facade? The world of real estate has a language unto itself, but in L.A. there’s only a few types of important types of real estate you have to know, and if you’re looking to buy an apartment in L.A., unless it’s a classic one-bedroom, it’s likely one of these: Duplexes, Studios, Lofts, and micro-apartments.

Duplexes are mosts similar to a house, because in a sense they are a house. Unlike the typical commerical apartment buildings, these are houses which are split up into typically two identical apartments. The advantage: You typically have more privacy, and your own entrance. Studios and lofts are quite similar. A studio is an apartment which (apart from the bathroom) is made up of one single room which houses the sleeping, leisure, and cooking area. Lofts are studios with high ceilings, lots of windows, and typically larger than normal studios. Lastly, micro-apartments. These are lofts which have very little space. Typically without a leisure area, or combining a leisure and sleeping area with e.g. a pull-out couch. You’ll find these in downtown and denseley populated places.

  • Duplex: Most like a house
  • Studio: No separate rooms
  • Loft: Studio with industrial style
  • Micro-Apartment: Very small studio

Don’t forget the HOA!

Even if you buy an apartment, you’re going to be paying a recurring fee to the organization which takes care of the shared spaces. That means doing renovations, fixing the elevator when it’s broken, etc. But not all Homeowner Associations (HOA) are created equal! Some can be a major pain, because they do not perform the necessary renovations. In other cases, tenants can be problematic, and HOA’s fail to take care of this. There’s many things that can go wrong, so the best thing to do usually is to talk to a few neighbours, who can clue you in on the details.

  • Talk to your Neighbors!

Choose the Right Neighborhood!

Real estate, including apartmentss, is all about location location location. You want to buy an apartment in an area where you want to live of course, but there’s other things to think about. You likely want to have good connection to public transport, even if you own a car. Related to that, you also want to have a freeway nearby, to have amenities such as shopping and grocery opportunities nearby. Depending on your leisure activities, perhaps you’ll also want to keep an eye out for cafes, clubs, restaurants, and bars in the area.

  • Check out the area!

Lastly, and very importantly, you want a neighborhood on the up, and not on the descent. Some neighborhoods are becoming massively popular (which those are, further down), meaning that prices are increasing massively. One day, when you sell your apartment, you’re going to want to get as much money for it as possible, so to choose a neighboorhood which is gaining poppularity is an inveitably profitable decision.

  • Buy in up-and-coming areas!

Where to Live in Los Angeles

Compton, Hollywood, Westwood, Bel-Air… The list goes on and on. Los Angeles is probably home to the most iconic neighborhoods worldwide. We give you a run-down of the hottest spots in the city, where buying an apartment is sure to make you a happy homeowner.

Silver Lake – Trendiest Spot

Silver Lake is LA’s Brooklyn. The place with most young, hip, creative and stylish people. This is where you’ll find the trendiest bars, the newest and hottest cafes, and more. There’s also the famous griffith park, and east river, and more, all with great access to freeways and spitting distance to downtown L.A.

A drive through these neighborhoods will give you a good idea of what they’re like!

Glendale

If you want to live away from the stress, but not somewhere in the country, Glendale may be your spot. It not only one of the safest areas in LA., but also close to the LA Zoo, the Norton Simon Museum, Travel Town, hiking trails in the San Gabriel Mountains, etc. Zillow classifies the Glendale housing market as “very hot”. Makes sense considering it’s also the lcoation of one of L.A.’s busiest and hottest shopping streets in the form of Brand Boulevard and The Americana at Brand

Below, the Americana at Brand, one of L.A.’s famous shopping locations

Culver City – Creatives and Trendy Bars

Another L.A. neighborhood with trendy cafes and bars en masse. Culver city has arguably joined the ranks of el segundo, and beverly hills in pop culture legacy, making its name as the hippest and coolest area for young creatives and artists. Fast forward a few years, and like in so many places, gentrification has taken its course, not so that it’s unenjoyable though. This area offers up some legendary locales, and a totally unique atmosphere!

Venice

Venice is a legendry area. No doubt it’s also become a major hotspot for tourists, but that doesn’t mean it doesn’t have its charm. It’s home to some luxurious apartments, and just like many other of L.A.’s top destinations, it’s a great place if you want to try out some trendy bars and cafes. Not to forget, the massive stretch of beach where surfing, volleyball, sunbathing, etc. can become part of your everyday routine!

Checklist: Buying an Apartment in Los Angeles

So now it’s up to you. You know you should buy, the only remaining question is when will you buy? This is our checklist for buying an apartment in L.A.

  1. Take Care of your Finances!
  2. Negotiate right
  3. Know What you’re Looking For!
  4. Don’t forget the HOA!
  5. Choose the Right Neighborhood!

This article was written by our friends from Lukinski:

Los Angeles Real Estate

Restaurant Highlights in Los Angeles: Santa Monica, Long Beach, Central LA & Co.

Restaurant Recommendations in LA – Do you know a better place, to spend your time than under the warm Californian sun? To make sure you have a good meal and know where the best food spots in Los Angeles are, we have put together a list of our top 10 restaurants. Here you will find everything, but especially healthy things, which contribute to a balanced diet. Of course, there are also a few exceptions hidden in the list. Here you’ll find pasta, pizza, burgers and more. Try it out, you won’t be disappointed! Let’s see our recommendations as your favorite model agency in Los Angeles.

Top 10 Restaurants in Los Angeles

Our tips for eating out in Los Angeles can be found here!

Plant Food + Wine

Bäco Mercat

Bavel

Beach 26

Gracias Madre

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The one and only Bowl Uno.

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Zinqué

Malibu Farm

The Rose Venice

Nobu

Cliff´s Edge

Training für Los Angeles, Mailand, Toyko & Co #INTERVIEWS

Es ist wieder soweit – die jungen Models kommen aus Berlin, München, Hamburg, der Schweiz und noch weiteren Orten zusammen, um am Model Coaching teilzunehmen. Die New Faces von Cocaine Models lernen dort mehr über ihre Ausstrahlung, Körpersprache und wie sie allgemein besser bei den Kunden ankommen. Wir haben das Coaching für euch begleitet und durften von dem Model Coach Lutz Marquardt und den Models ein paar interessante Eindrücke mitnehmen.

Topmodel von Germany? Real Life & Coaching vor dem Schulende

Jedes Model fängt einmal klein an. Bei dem diesjährigen Modelcoaching gibt das Model und Coach Lutz Marquardt den New Faces von Cocaine Models Tipps und Tricks rund um das Thema modeln. Wie können sie besser vor der Kamera posen? Was macht den besten Eindruck, sobald du einen Raum betrittst und was sagt deine Körperhaltung über dich aus? All das und mehr verrät der Coach den jungen New Faces, um sie so noch besser aus die Modelwelt vorzubereiten.

Training for Los Angeles, Milan, Toyko & Co #TEASER

Model Coaching – Finally it’s time again, our New Faces from all over Germany meet for Model Coaching. With the help of model coach Lutz Marquardt they learn tips and tricks about posing, charisma, catwalk and more. Here already once a small Teaser for you. You can find the whole video on Sunday on our Youtube-Channel or here in the blog!

Model Coaching for 2019: School’s out

How to become a model at 13 years: Modeling kids

Become a model at the age of 13 – As you can read in our detailed article on the topic become a model at the age of 14, it is very important that you have time to model. As long as you are still in school, you are distracted by many other important things and cannot concentrate on modeling. Our recommendation as a model agency, patience! Try that you get good grades and that you are diligent in school. Because the more diligent you are and the better your grades are, the more freedom you get from your school when it comes to graduation. As a model you sometimes have to travel and spend a day or two on the road. During this time you can of course not go to school, so it is very important that you have a good relationship with your school and with your teachers.

Wait until you are 14, 15 or 16 years old

Wait another year and then you can send your first model application. Depending on how long your school lasts, you should only apply to an agency if your schooling does not last longer than 2 years.
We recommend: Wait until you are 14, better 15 or 16 years old!

Start anyway? Then here are some tips and addresses: Modelagency for Children

During these two years you can build your modelbook in peace with test shootings from professional photographers. Testshooting are important to make your portfolio as diverse as possible. Ideally, you can show different facets of yourself, so that customers can also imagine you in their clothes. At some point you will also do your first sport shooting, your first family shooting and your first fashion film.

With every single step you become more professional!

Since the setup takes a lot of time, however, you should think carefully about when you start in a Modelagentur. If you start early and then don’t have time or have to cancel often, it won’t be very positive for your model agent and he will prefer other models sooner or later. To prevent this from happening you should not go to a model agency until you are 14 or 15 years old and the school has successfully finished.

Model Application at CM – Tips & Help

We want you! Take your chance and apply now at Cocaine Models! Your chance to become one of the most renowned agencies in the market with international clients, friendly team and professional management for your modeling career. Start now: Model application.

What size do you need as a model?

The measures for models vary depending on whether it is a job in advertising or in fashion. When it comes to fashion, the fashion designers are much stricter, here fashion collections are cut to a certain size and you should ideally have this big one. For women this means a minimum size of 174cm, even better 177 or 178 cm. For men, the minimum size is 185cm, so on average they are ten centimeters taller than women.

Tip: Take measurements yourself

Here you see all important points on the body to take your measurements yourself. Make sure you wear as little clothing as possible when measuring and be honest with yourself when measuring! You can find more information about minimum measurements and proportions for models here:

Too small, too big, too sporty?

For high fashion and haute couture there are clear guidelines for models, especially for new faces. If you deviate from the measurements, you still have many chances in the commercial area. Commercial deals with everything that is “advertising”, from the online shop to TV and YouTube video.

Los Angeles: Designers You definitely Need to Know

Los Angeles is most famous for the Hollywood sign, the walk of fame and of course the countless celebrities walking around. It is definitely a place to be but it does not count to the big 4 fashion capitals worldwide. Even though, you will find all the big designers on the “Pretty Woman” famous “Rodeo Drive”. But Los Angeles has a couple designers you need to know, from crazy Leo prints to classic menswear, Los Angeles got a lot to offer. Read more

Cover! Lisa NG for FIV Magazine + exclusiv interview: Leas American Dream in LA

New publication in FIV Magazine for our models Janine and Lisa. We ware very proud to see you on the #2 Cover of the new magazine, which is available in USA, UK and Germany as well. If you like to see the full photo series, follow this link to FIV Magazine #2 Read more

Best 9 Restaurants in Los Angeles + Cheap, Fast or Vegan

Los Angeles – the city of movies and celebritys. If you are in Los Angeles for a modelling agency job, you really have to check out some of the hot spots. Following you will find our best restaurant tips in LA from vegan to fast food.
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Best 6 Clubs & Bars in Los Angeles

Los Angeles – the city of movies and celebritys. If you are in Los Angeles for a modelling agency job, you really have to check out some of the hot spots. Following you will find the best clubs and bars in LA where you can relax after a long workday or meet some stars.
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Shooting with Pascal Heimlicher (Los Angeles) and lovely Sandra Hunke / Marie Dahmen / Johanna Vorrath

Today our models meet with Mister Pascal Andrew Heimlich from Los Angeles for a sedcard shoot! Our models Sandra Hunke, Marie Dahmen and Johanna Vorrath have been with our modeling agency for a long time and they already worked for many well-known brands, but also for campaigns Read more

Los Angeles – Top 10 Places to visit

Los Angeles – the home of pretty and rich people. If you are in LA for a modelling agency job: take some time and visit a couple of attractions. It’s woth it! Our modelling angency support models in Los Angeles as well!
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