KEVIN JONES Real Estate & Loans   818-955-7653
IN ESCROW!!!
Let Us Sell Yours!
We have Buyers!
818-955-7653

 Burbank Triplex … IN ESCROW!
Buyer and Seller Representation

Address: 1241 North Cordova, Burbank, Ca 91505
Unit Mix: Two 2 Bedrooms, One Studio
Amenities: 3 Car Garage, Laundry in Units, Newer Roof, Newer Sewer, etc

This tree lined Burbank interior street is a refreshing rental block. It affords the opportunity of a “Leave it to Beaver” style home environment. Not your average busy 4 lane highway style rental street. This building has been well maintaned, with fenced side yard, 3 car garage in rear with laundry attached. The property is close to the studios, walking distance actually. Just minutes from Downtown LA, North Hollywood, Toluca Lake, Sunland Sun Valley, Glendale and the San Fernando - San Gabriel Valleys.

This is a regular sale, not a short sale, not a foreclosure, not bank owned or REO property, so this will be a simple transaction.!We also have two other listings available!

As a buyer or seller in todays changing real estate market you need to make sure you use an agent that is experienced and understands this type of economy. The agent you work with will need to be able to understand and explain the process, educate you on the latest developments and how this will affect you.

This property is Listed by:
KEVIN JONES Real Estate & Loans
Kevin Jones, Broker
818-955-7653
listwithme@earthlink.net
Kevin’s Real Estate Blog

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Burbank Triplex
One 2 Bedroom unit
Two 1 Bedroom units
Three car garage
Laundry Room

Newer Roof
Newer Windows
Newer Sewer System
Centrally located
Over all Good Condition Building

KEVIN JONES Real Estate & Loans   818-955-7653

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Burbank Duplex:
Two 2 Bedroom 1 Bath units.
Tree Lined Street
Centrally Located
Each Unit Has Own Yard.
Two Car Garage
Bonus Room, Storage Room or Home Office

Hurry this is a great Deal!
Call Today!  818-955-7653

KEVIN JONES Real Estate & Loans
818-955-7653

This is a great opportunity to own a Burbank Apartment Building with no rent control!  This Burbank Duplex offers Two 2 bedroom units located in the heart of burbank and close to everything.  This listing is better than most homes for sale because as most Burbank Single family Real Estate has decreased in value the residential income or units has been holding firmly as there is a high demand in Burbank for rental units!

The loan qualification process is easier on this type of property than a regular home because you can use some of the income to help you qualify for the loan.  For more information about Burbank Real Estate, contact Kevin Jones 818-955-7653 your local Burbank Realtor.

Kevin Jones also has other units and homes for sale, he has three listings on one block, one 2 unit and two 3 units, for all your Real Estate needs call Kevin Jones today at 818-955-7653.

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The banks are in trouble and it isn’t getting any better!  Mortgage companies are closing on a daily basis!  Real Estate agents and Mortgage Brokers are leaving the business by the boat load!  There are Bank Foreclosures, REO’s (Real Estate Owned), also called Bank Owned properties on almost every block in Southern California!  Short Sales are the pre-foreclosure properties where the home owner owes more than what the property is worth and to sell the property the home is usually in default and the bank negioates below the balance owed.

The standard operating proceedure after the bank has foreclosed on the property they traditionally assign each individual property a Real Estate agent with the listing.  The property is then sold on the retail market for as much as the market will bring, usually fair market value!  The banks do well at recovering the majority of their money through this process of selling in a retail environment!

As the Real Estate market and the overall economy is not getting any better, more and more homes are being lost by their owners and are accumulating at the banks quicker than they can hand them out to Real Estate Brokers.  This creates the “Bulk Reo Niche”

Buying REO’s in BULK is the way to go!  You can save up to 70 cents on the dollar!  The minimum buy in is usually ten million ($10M), the process is simple, it is an all cash deal, usually takes a couple of weeks to close!  It is usually that fast and sometimes takes less time!  We can arrange bundles in most ares and most prices above $10M.  Sometimes depending on the location we get smaller bundles.  The majority of the requests are large purchases such as $50 &$100M, the sky is the limit!  For more information call 818-955-7653.

With all the Neg-Am loans coming due, it really can have a major impact on a home owner, for example here in Los Angeles a home at One Million Dollars, buyers would get 100% finaning, a Neg Am first and an Interst Only second.  Even with 100% financing, the payment was still less than $4000 a month ($2667 + 1250).

But once that loan comes due and it can adjust some are at hese, at 8% $5870 mo (+3203), 9% $ mo (+$3770) and 10% $ mo (+$4354 ).  These figures were just the mortgage, even at the best case scenario your first loan only moves up to  $5870, this is a $3203 increase!  Where are most of these people going to get the money to make the difference, it is almost like buying a second home without any of the benefits!  At a 10 percent  loan the payment would almost be double the monthly payment of the first on a Neg Am loan.

All of these properties have a great chance of becoming an REO when the loan adjusts and these Huge payments come due!  The correction of the market will enable many to buy at an affordable rate, and the cycle will start all over again!

Kevin Jones  818-955-SOLD (7653)
KEVIN JONES Real Estate & Loans

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BULK REO Bundles at HUGE discounts!!!

Buy Homes around 30 cents on the Dollar!

Minimum Buy In:  Ten Million Dollars

Direct from the Bank!

Most Areas!

All Cash, No Financing.

Quick Close.

Call for more info

Kevin Jones 818-955-SOLD (7653)
KEVIN JONES Real Estate & Loans
BULK REO BROKER

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Kevin Jones  818-955-SOLD (7653)
KEVIN JONES Real Estate & Loans

Burbank Triplex For Sale
1241 North Cordova Street
Burbank, Ca 91505
Only $779,900

This rental property has two 2 Bedroom 1 Bath units and one Single or Studio apartment.  The two 2 Bedroom units are currently rented at $1600 each, the Single or Studio apartment is rented at $850 per month.  Total monthly income is $4050 per month.

This Burbank apartment building is located on a tree lined street, centrally located in Burbank, this is one of the best locations to own a rental property in the city of Burbank.  Tenants with children have the benefit of the award winning Burbank Unified School District!

The interiors of this building have been upgraded, some with Crown moldings, granite countertops, marble showers, travertine floors, washer/dryer in the unit and much more.

View Larger Map

This Burbank Investment property is probably one of the nicest on the market and is priced to sell!  Call today for more information 818-955-7653

For all your Real Estate needs call Kevin Jones at 818-955-7653, always remember, whether Real Estate or Loans, your best choice is Kevin Jones!

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Burbank Home In Escrow

7725 Shadyspring Drive
Burbank, Ca 91504

This home was listed at $450,000 and has 2 Bedrooms a Den and 1 Bath, situated on an over 8,000 square foot lot has a lot of great features for the new buyer including ample parking with the opportunity for RV parking and a 2 car garage.  The interior of the home is almost complete, the tile in the kitchen and den was just completed, the opening between the kitchen and den is being completed today and the painting should be done by Monday.

The new buyers plan on putting in a send bathroom which will be a nice addition to this already nice home.  The neighborhood is very friendly and it seems each time I stop in at the house I end up talking with one of the neighbors.  The last conversation was with a neighbor just a few houses down, she has lived there for about 10 years, and has acquired an unusual pet, a racoon!  “Jack” as in the one eyed pirate, because Jack the racoon only has one eye also was abandoned as a baby, she hand fed the racoon and now Jack sleeps on her patio with her cats!  He freely roams the neighborhood and lives an active life, he just doesn’t seem to be accepted as well with the other racoons.
This nice little pocket consists of about six or seven streets and is like the Leave it to Beaver neighborhood.  Most of the neighbors know each other and is a very friendly atmosphere.  A great place to dig in and raise a family!

If you are looking to buy or sell real estate, call Kevin Jones today for a confidential interview and free market analysis of your home!  Kevin also does Commercial and Income properties as well as REO, bank owned or also known as lender owned properties.  Currently Kevin is working on a Bulk REO transaction comprised of 684 properties totaling $179 million and has other portfolios available, these transactions typically require all cash and can be bundled to fit your investment position.  These bundles can be as low as fifty cents on the dollar!

Call Kevin Jones today for all over your Real Estate Needs 818-955-SOLD (7653)

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CAR Real Estate Update

These are the latest numbers from CAR (California Association of Realtors) it is everything I have already said has happened or is about to happen. The number are amazing and I predict it will only get worse before it gets any better!  My other prediction is 2012 will be the new 1997 when the market leveled off and began the upward trend of the cycle.

For any questions about Real Estate or Loans call KEVIN JONES!  818-955-7653

U.S. economy: Consumer Confidence & House Prices Slide

Consumer confidence plunged to a 16-year low in June and home prices fell in April for the twenty-first consecutive
month as measured by the Standard & Poor’s/Case-Shiller Home Price Index for 20 cities. Separately, Federal
Reserve Chairman Ben Bernanke said Tuesday that recent economic data suggest the U.S. is on the brink of a
recession.

KEEP THIS IN MIND…
• The Conference Board reported that its confidence index fell from 57.2 in May to 50.4 in June thanks to the
housing downturn, higher unemployment and the rising cost of food and fuel. The last time the index was this
low was in February 1992, when the economy was beginning to recover from the 1990-91 economic downturn.
• The S&P/Case-Shiller index fell by 15.3 percent in April from the previous April, continuing March’s 14.4 percent
year-over-year decline. However, eight of the 20 cities included in the index experienced month-over-month
increases in prices. That shows cities “are beginning to sort themselves into the bad and not-so-bad,” said
economics professor and index co-founder Karl Case. “It’s not like the whole market is collapsing.”
• California cities included in the index continued to experience price declines: In Los Angeles, the index fell 2.2
percent from March to April and 32.1 percent year over year. San Diego was down 2.6 percent for the month
and 22.4 percent compared with April 2007, and San Francisco declined 2.2 percent in April and was 22.1
percent below last April’s index.
To read the full story, please click here:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aX6aDvhPpltY&refer=home

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Ever wonder how or what the various types of Commercial Leases there are?  Have the need to rent or lease a Commercial Space for your Business?  Here are some basic terminology and explainations to help you understand them more.

Commercial Leasehold:
Generally speaking in the modern US legal framework, commercial real property leases fall into one of just a few categories: Office, Retail, Warehouse, Ground, and a catch-all hybrid often referred to as “Mixed Use”. Each has certain typical characteristics, although Ground leases may differ somewhat, taking on some characteristics of Retail leasing when associated with a retail project, like a shopping center; and although Mixed Use projects can vary greatly depending upon the various inclusions and the size of the overall project, among other things. It is widely appreciated by those who specialize in commercial leasing, including the business side and the legal side, that, other than hybrids such as Mixed Use project leasing, Retail leasing can have the most complexity.Mixed Use projects often have elements of most or all of the other categories, not infrequently including a hotel, office building, ground floor retail with residential condominium above and a parking garage. The interplay of all these different components with each other and the underlying property documents which describe, define, and control their interactions, operation and management, as well as the division of costs for the operation of the site, are typically very complex. Retail leasing often requires the parties to address issues typically not addressed at all in other types of commercial leasing which have no retail component. These additional challenges include such topics as exclusives and restrictive covenants, radius restrictions on near-by self-competition, co-tenancy, no-build areas and visibility corridors, parking ratio assurances, signage concerns (including pylons, monuments, and criteria), CAM and CAM caps and controls (including the “cumulative” and “non-cumulative” concepts), continuous operating covenants, and much more.  CAM (Common Area Maintenance).

Leasing is less capital-intensive than purchasing, so if a business has constraints on its capital, it can grow more rapidly by leasing property than it could by purchasing the property outright.  Capital assets may fluctuate in value. Leasing shifts risks to the lessor, but if the property market has shown steady growth over time, a business that depends on leased property is sacrificing capital gains.  Because of investments which are done with leasing, new businesses are formed. Furthermore, unemployment in that country is decreased.  Leasing may provide more flexibility to a business which expects to grow or move in the relatively short term, because a lessee is not usually obliged to renew a lease at the end of its term.  In some cases a lease may be the only practical option; such as for a small business that wishes to locate in a large office building within tight locational parameters.  Depreciation of capital assets has different tax and financial reporting treatment from ordinary business expenses. Lease payments are considered expenses, which can be set off against revenue when calculating taxable profit at the end of the relevant tax accounting period.

Disadvantages of Commercial Leasing:
For businesses, leasing property may have significant drawbacks:

A net lease may shift some or all of the maintenance costs onto the tenant.
If circumstances dictate that a business must change its operations significantly, it may be expensive or otherwise difficult to terminate a lease before the end of the term. In some cases, a business may be able to sublet property no longer required, but this may not recoup the costs of the original lease, and, in any event, usually requires the consent of the original lessor. Tactical legal considerations usually make it expedient for lessees to default on their leases. The loss of book value is small and any litigation can usually be settled on advantageous terms. This is an improvement on the position for those companies owning their own property. Although it can be easier for a business to sell property if it has the time, forced sales frequently realise lower prices and can seriously affect book value.
If the business is successful, lessors may demand higher rental payments when leases come up for renewal. If the value of the business is tied to the use of that particular property, the lessor has a significant advantage over the lessee in negotiations.

NET Lease or Single Net Lease
In a single net lease (sometimes shortened to Net or N), the lessee or tenant is responsible for paying property taxes as well as the base rent. Double- and triple-net leases are more common forms of net leases.

Net-Net or Double Net Lease
In a Double Net Lease (Net-Net or NN) the lessee or tenant is responsible for real estate taxes and building insurance. The lessor is responsible for any and all expenses incurred for structural repairs and CAM. Double net leases are rarely used.

Net-Net-Net or Triple Net Lease (NNN)
A triple net lease (Net-Net-Net or NNN) is a lease agreement where the tenant or lessee agrees to pay all: 1.) real estate taxes, 2.) building insurance, and 3.) building maintenance (the three ‘Nets’) on the property in addition to any normal fees that are expected under the agreement (Rent, CAM, etc.). In such a lease, the lessee is responsible for all costs associated with repairs or replacement of the structural building elements of the property.  If it is in a large structure with multiple tenants the percentages are divided by the total square footage of the building and each lessees rental responsibility.

Although rents are usually lower in triple net leases than other forms of lease agreements, this form of lease agreement is desirable for real estate investors since the expenses incurred by the investor are dramatically decreased due to the transfer of financial responsibilities on the property from the investor/lessor to the lessee.   But they may also have certain tax disadvantages for the lessor also, you will need to seek advice from a Tax professional for more details on how you will or might be affected as a Lessor or Lessee.

The NNN type Leases are frequently used for freestanding buildings, such as outparcel developments or single-tenant “big box” sites, shopping centers, strip malls, etc.

Bondable Lease or Absolute Triple Net Lease (ANNN)
A bondable lease (also called an absolute triple net lease or a “hell-or-high-water lease”) is the most extreme variation of a triple net lease, where the tenant carries every imaginable real estate risk related to the property. Notably, these additional risks include the obligations to rebuild after a casualty, regardless of the adequacy of insurance proceeds, and to pay rent after partial and/or full condemnation. These leases are not terminable by the tenant, nor are rent abatements permissible. The concept is to make the rent absolutely net under all circumstances, equivalent to the obligations of a bond: hence the “hell-or-high water” moniker. An example of this type of lease would be a leaseback arrangement in which a retailer leases back the building it formerly owned and continues to run the business.

Bondable leases are typically used in so-called “credit tenant lease” deals, where the main driver of value is not so much the real estate, but the uninterrupted cash flow from the usually investment-grade rated “credit” tenant.

COMMERCIAL GROSS LEASE:

Gross Lease:
In a gross lease, the tenant pays a flat rental amount and the landlord pays for all property charges regularly incurred by the ownership.  These charges would include but not limited to: Property Tax, Building Insurance, Maintenance of the Building, typically the interior of each unit is the tenants responsibility, other than that everything else is usually included minus utilities. 

You will need to seek the advice of a Real Estate Professional in your area or the advice of a Real Estate Attorney to make sure that you understand the type of Lease and all responibilities you are signing up for!  This is a BIG Commitment, make sure you get the proper advice and explanation of the terms so that you are fully aware what you are getting in to!

KEVIN JONES Real Estate and Loans works in all aspects of Real Estate, Residential, Income and Commercial.  Kevin Jones has experience in Commercial Leasing, he will go as far as following the lease through with re-zoning and Conditional Use Permits (CUP).  Where the World Gym in Monrovia, California, Kevin negotiated that lease from Juniors Tools as a “Retail Store” and after over nine months of massive persistence with the City of Monrovia and many. many City meetings, finally got the  Conditional Use Permit to convert that location to “Health Club Use”.  Kevin Jones will go the extra mile to help you achieve your end result!  If it can be done, Kevin Jones can do it! Call Kevin today!

KEVIN JONES Real Estate & Loans 818-955-SOLD (7653)Kevin Jones California Real Estate Broker
Burbank  818-612-1603  -  Pismo Beach  805-474-7040

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MINIMUM STANDARDS:

1.) Take Action
2.) Pre-qualify every appointment, every time.
3.) Prospect intensely for 3 hours every morning.
4.) Practice Scripts and Dialogs 30 minutes daily.
5.) 65% of my total transactions will come from listings.
6.) 75% of my presentations I go on I get the listing.
7.) 100 escrows each year
8.) 35% of my business is repeat and referral.
9.) every 50 transactions I hire another assistant.
10.) I maintain at least a 75% net profit.
11.) Attend 4 trainings a year.
12.) Keep 10 salable listings at all times
13.) Set at least one pre-qualified listing appointment everyday.
14.) Go on at least one pre-qualified listing appointment everyday.
15.) Contact all Expired Listings everyday.
16.) Contact all FSBO’s everyday.
17.) Return all calls everyday.
18.) Keep myself and accountability partners accountable.
19.) Afternoon prospecting if no appointment set that morning.
20.) Five drop bys each and everyday

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