can you please go through the below eng srt and omit parts so that the timeline cuts into 9 minute. just mention the portions thta i can remove from the entire srt, i will then remove the parts myself in an editor.

1
00:00:03,737 --> 00:00:04,738
Let's talk about

2
00:00:04,738 --> 00:00:06,740
buying a
home in Los Angeles.

3
00:00:07,140 --> 00:00:08,641
Hi, my name is
Matias,

4
00:00:08,641 --> 00:00:09,876
and selling
real estate in

5
00:00:09,876 --> 00:00:11,878
Los Angeles
is what I do

6
00:00:11,945 --> 00:00:13,947
every single day.

7
00:00:14,280 --> 00:00:16,516
This is a practical
guide.

8
00:00:16,683 --> 00:00:18,451
From years
of experience

9
00:00:18,451 --> 00:00:20,220
writing
hundreds of offers

10
00:00:20,220 --> 00:00:21,221
and seeing happy

11
00:00:21,221 --> 00:00:23,990
buyers
get what they want.

12
00:00:24,391 --> 00:00:25,025
In one of

13
00:00:25,025 --> 00:00:26,092
the most competitive

14
00:00:26,092 --> 00:00:28,094
markets
in the world.

15
00:00:28,261 --> 00:00:30,463
Now, the first thing
I always do

16
00:00:30,630 --> 00:00:31,231
when meeting

17
00:00:31,231 --> 00:00:32,432
a client is

18
00:00:32,432 --> 00:00:35,168
that we need to talk
about motivation.

19
00:00:36,136 --> 00:00:38,071
Why are you moving?

20
00:00:38,071 --> 00:00:40,073
Why are you buying
a new home?

21
00:00:40,407 --> 00:00:41,775
Are you moving
to Los Angeles

22
00:00:41,775 --> 00:00:43,143
from somewhere else?

23
00:00:43,143 --> 00:00:44,344
Are you downsizing?

24
00:00:44,344 --> 00:00:46,079
Meaning
you need less space?

25
00:00:46,079 --> 00:00:47,680
Or are you upsizing?

26
00:00:47,680 --> 00:00:49,849
Or maybe you're just
tired of renting?

27
00:00:50,250 --> 00:00:52,252
Or did
you get a new job?

28
00:00:52,252 --> 00:00:54,187
Or is your family
getting bigger?

29
00:00:54,187 --> 00:00:55,889
There are
so many reasons,

30
00:00:55,889 --> 00:00:58,525
but it is
very important

31
00:00:58,558 --> 00:00:59,859
that we discuss

32
00:00:59,859 --> 00:01:01,861
the reason
and the motivation.

33
00:01:02,162 --> 00:01:04,164
Because in a sense,

34
00:01:04,397 --> 00:01:06,199
I am like a doctor.

35
00:01:06,199 --> 00:01:08,935
So once you tell me
everything

36
00:01:08,935 --> 00:01:10,170
that I need to know,

37
00:01:10,170 --> 00:01:12,138
I am able
to pinpoint

38
00:01:12,138 --> 00:01:13,640
the accurate path

39
00:01:13,640 --> 00:01:15,842
that we can take
forward together.

40
00:01:22,215 --> 00:01:23,750
The next
thing we have to be

41
00:01:23,750 --> 00:01:24,884
looking at is

42
00:01:24,884 --> 00:01:26,886
who will believe in
the home.

43
00:01:27,153 --> 00:01:28,755
Is it just you,

44
00:01:28,755 --> 00:01:29,456
or is it going to be

45
00:01:29,456 --> 00:01:31,458
you and your
significant other?

46
00:01:31,591 --> 00:01:32,525
Now what about four

47
00:01:32,525 --> 00:01:34,094
legged
family members?

48
00:01:34,094 --> 00:01:36,029
So along with
motivation,

49
00:01:36,029 --> 00:01:38,898
we must also learn
about the people

50
00:01:39,566 --> 00:01:42,001
who is moving and
why they're moving.

51
00:01:42,502 --> 00:01:44,504
Let me share a story
with you.

52
00:01:44,671 --> 00:01:46,239
I was working
with a client

53
00:01:46,239 --> 00:01:47,607
who was dead set on.

54
00:01:47,607 --> 00:01:49,609
More on looking
for a property

55
00:01:49,642 --> 00:01:51,878
in a cul de sac
that is like,

56
00:01:51,911 --> 00:01:53,913
you know, a dead end
road, essentially.

57
00:01:54,147 --> 00:01:55,482
And the reason

58
00:01:55,482 --> 00:01:58,952
was after further
investigation was

59
00:01:58,952 --> 00:01:59,652
that she

60
00:01:59,652 --> 00:02:01,654
really wanted
to live in an area

61
00:02:01,721 --> 00:02:01,988
where

62
00:02:01,988 --> 00:02:03,723
there would be
little traffic

63
00:02:03,723 --> 00:02:05,191
because
she had a cat

64
00:02:05,191 --> 00:02:07,026
that was sometimes
an outdoor cat.

65
00:02:07,026 --> 00:02:09,028
So she was
really concerned

66
00:02:09,129 --> 00:02:10,697
about living in

67
00:02:10,697 --> 00:02:11,865
an area
where there would be

68
00:02:11,865 --> 00:02:12,665
too much traffic.

69
00:02:12,665 --> 00:02:15,768
Now, by knowing
that now,

70
00:02:15,768 --> 00:02:17,303
she presented to me
with the problem.

71
00:02:17,303 --> 00:02:18,872
She wanted to live
in a cul de sac.

72
00:02:18,872 --> 00:02:19,873
You know how

73
00:02:19,873 --> 00:02:22,475
that narrows
your search so much?

74
00:02:22,775 --> 00:02:24,177
It's very difficult
to find.

75
00:02:24,177 --> 00:02:24,644
Just.

76
00:02:24,644 --> 00:02:25,445
You can only look

77
00:02:25,445 --> 00:02:27,180
for homes in a cul
de sac.

78
00:02:27,180 --> 00:02:28,281
That's not easy.

79
00:02:28,281 --> 00:02:31,718
But once we learned
why she wanted

80
00:02:31,718 --> 00:02:33,920
to live in a cul
de sac.

81
00:02:34,120 --> 00:02:35,021
Now we can also

82
00:02:35,021 --> 00:02:37,023
open up
to other solutions,

83
00:02:37,190 --> 00:02:39,025
like a
gated community.

84
00:02:39,025 --> 00:02:41,027
So that was another
option. We.

85
00:02:41,127 --> 00:02:43,129
She didn't
think about it.

86
00:02:43,129 --> 00:02:44,430
This is why
it's important

87
00:02:44,430 --> 00:02:44,931
to be honest.

88
00:02:44,931 --> 00:02:45,865
This is why
it's important

89
00:02:45,865 --> 00:02:46,933
for me to know

90
00:02:46,933 --> 00:02:49,202
as much as I can
about your needs.

91
00:02:56,843 --> 00:02:57,911
Now let's

92
00:02:57,911 --> 00:02:59,913
talk about
financing.

93
00:03:00,180 --> 00:03:02,382
There are two
questions that are similar,

94
00:03:02,682 --> 00:03:03,483
but really,

95
00:03:03,483 --> 00:03:05,218
there are different
answers.

96
00:03:05,218 --> 00:03:07,220
How much house
can you buy

97
00:03:07,520 --> 00:03:09,722
and how much house
should you buy?

98
00:03:10,557 --> 00:03:12,091
If you can afford
a certain amount,

99
00:03:12,091 --> 00:03:12,592
it doesn't mean

100
00:03:12,592 --> 00:03:13,593
you have to go
all the way

101
00:03:13,593 --> 00:03:14,460
up to that amount

102
00:03:14,460 --> 00:03:15,962
because obviously

103
00:03:15,962 --> 00:03:17,630
you want
to sleep at night.

104
00:03:17,630 --> 00:03:20,700
So if you ever heard
the term house

105
00:03:20,700 --> 00:03:22,702
rich, cash poor,

106
00:03:23,536 --> 00:03:25,305
what you want to do
is take

107
00:03:25,305 --> 00:03:26,272
a full picture

108
00:03:26,272 --> 00:03:26,439
of the

109
00:03:26,439 --> 00:03:27,674
financial situation

110
00:03:27,674 --> 00:03:29,676
and see what makes
the most sense.

111
00:03:29,876 --> 00:03:31,878
Do not skip
this step.

112
00:03:32,278 --> 00:03:32,912
Is this going to be

113
00:03:32,912 --> 00:03:34,480
an all cash purchase

114
00:03:34,480 --> 00:03:34,948
or will you

115
00:03:34,948 --> 00:03:35,415
be getting a

116
00:03:35,415 --> 00:03:38,651
mortgage now? Also, you
need to find out.

117
00:03:38,851 --> 00:03:40,954
Do you need to sell
before buying?

118
00:03:41,955 --> 00:03:43,423
This is where
the advice

119
00:03:43,423 --> 00:03:44,657
of a good realtor

120
00:03:44,657 --> 00:03:46,826
starts to make
a big difference.

121
00:03:47,694 --> 00:03:48,428
The first thing

122
00:03:48,428 --> 00:03:50,563
I always recommend
my clients do

123
00:03:50,797 --> 00:03:53,566
is to talk
to their bank first,

124
00:03:53,900 --> 00:03:55,902
because that is
the cheapest option.

125
00:03:56,369 --> 00:03:59,105
However,
banks have limits,

126
00:03:59,472 --> 00:04:01,007
so there are
advantages

127
00:04:01,007 --> 00:04:03,009
to talking to
a mortgage broker,

128
00:04:03,109 --> 00:04:05,445
especially
for employees.

129
00:04:05,678 --> 00:04:07,714
That may be 1099
or through

130
00:04:07,714 --> 00:04:09,349
the creative types.

131
00:04:09,349 --> 00:04:10,917
There are all sorts
of scenario.

132
00:04:10,917 --> 00:04:12,452
So it is good
to talk to a

133
00:04:12,452 --> 00:04:14,454
mortgage broker, but

134
00:04:14,554 --> 00:04:16,556
it is more
expensive.

135
00:04:17,090 --> 00:04:18,391
Now I'm going to
tell you something

136
00:04:18,391 --> 00:04:19,826
that is going
to shock you.

137
00:04:19,826 --> 00:04:21,828
Do not focus on
the rates.

138
00:04:22,395 --> 00:04:24,397
The rates
are not locked.

139
00:04:24,797 --> 00:04:26,332
So rate quotes

140
00:04:26,332 --> 00:04:28,468
can be
a marketing gimmick.

141
00:04:30,236 --> 00:04:32,071
You want
to know the rates,

142
00:04:32,071 --> 00:04:34,507
but do not rely on
what you see on

143
00:04:34,507 --> 00:04:36,843
Bankrate, Zillow,
or NerdWallet.

144
00:04:37,176 --> 00:04:37,944
If you want to know

145
00:04:37,944 --> 00:04:39,379
where the rates
are standing

146
00:04:39,379 --> 00:04:40,980
on the average,

147
00:04:40,980 --> 00:04:42,982
you should go to
places like.

148
00:04:47,220 --> 00:04:48,254
Freddie Mac.

149
00:04:48,254 --> 00:04:50,189
It's a good place
to look at the rates

150
00:04:50,189 --> 00:04:51,557
or go directly

151
00:04:51,557 --> 00:04:53,259
to the Federal
Reserve's website.

152
00:04:53,259 --> 00:04:57,196
That is fred.stlouisfed.org

153
00:05:03,202 --> 00:05:04,270
Now remember

154
00:05:04,270 --> 00:05:06,272
those are averages.

155
00:05:06,506 --> 00:05:07,840
And I'm going to
tell you something

156
00:05:07,840 --> 00:05:09,842
that is
very important.

157
00:05:09,842 --> 00:05:12,545
Do not chase
the rate.

158
00:05:13,413 --> 00:05:15,415
Focus on the points.

159
00:05:16,215 --> 00:05:16,616
Now you may

160
00:05:16,616 --> 00:05:18,618
ask yourself
what are points.

161
00:05:18,751 --> 00:05:21,421
That is the amount

162
00:05:21,954 --> 00:05:24,590
that someone charges
you to give you

163
00:05:24,590 --> 00:05:25,525
the money.

164
00:05:25,525 --> 00:05:26,893
So a bank, generally

165
00:05:26,893 --> 00:05:27,760
speaking,
will charge

166
00:05:27,760 --> 00:05:30,630
you one point which
is 1% of the loan,

167
00:05:31,230 --> 00:05:33,232
right? Makes sense.

168
00:05:33,232 --> 00:05:35,234
So a mortgage broker

169
00:05:35,668 --> 00:05:37,303
will charge more two

170
00:05:37,303 --> 00:05:37,904
sometimes

171
00:05:37,904 --> 00:05:39,906
as much as three
points depending

172
00:05:39,906 --> 00:05:40,840
by the
circumstances.

173
00:05:40,840 --> 00:05:42,241
Generally speaking,

174
00:05:42,241 --> 00:05:43,576
you should expect

175
00:05:43,576 --> 00:05:45,578
to pay about one
and a half point,

176
00:05:45,578 --> 00:05:46,646
but that is way

177
00:05:46,646 --> 00:05:48,514
more important
than the rates.

178
00:05:48,514 --> 00:05:49,148
You know why

179
00:05:49,148 --> 00:05:50,516
it is more important
than the rates

180
00:05:50,516 --> 00:05:51,351
because the points

181
00:05:51,351 --> 00:05:52,952
get factored
into the loan.

182
00:05:52,952 --> 00:05:54,921
The rates you can
always refinance,

183
00:05:54,954 --> 00:05:56,589
but once you
pay for the points,

184
00:05:57,690 --> 00:05:58,224
right.

185
00:05:58,224 --> 00:05:59,325
So on $1 million

186
00:05:59,325 --> 00:06:02,161
loan, one
point is $10,000.

187
00:06:02,595 --> 00:06:03,663
So if you're getting

188
00:06:03,663 --> 00:06:04,530
a loan
from your bank

189
00:06:04,530 --> 00:06:06,332
and they're charging
you one point,

190
00:06:06,332 --> 00:06:08,101
that's $10,000
plus probably

191
00:06:08,101 --> 00:06:10,103
some servicing
fees, etc., etc.

192
00:06:10,503 --> 00:06:11,104
if you are getting

193
00:06:11,104 --> 00:06:12,572
from a mortgage
broker,

194
00:06:12,572 --> 00:06:13,773
it's two points
maybe.

195
00:06:13,773 --> 00:06:16,342
So now you're paying
$20,000. Two and a half

196
00:06:16,342 --> 00:06:18,344
points, 25,000,
and so forth.

197
00:06:18,945 --> 00:06:20,880
Now in residential
real estate,

198
00:06:20,880 --> 00:06:22,882
particularly for
primary residence,

199
00:06:22,982 --> 00:06:24,417
there are limits

200
00:06:24,417 --> 00:06:25,084
that are put on

201
00:06:25,084 --> 00:06:26,686
by the government
to how many points

202
00:06:26,686 --> 00:06:28,287
a consumer
can be charged,

203
00:06:28,287 --> 00:06:30,423
but keep a close eye

204
00:06:30,423 --> 00:06:31,591
on those information

205
00:06:31,591 --> 00:06:33,159
because they are
very useful.

206
00:06:33,159 --> 00:06:33,793
And when you talk

207
00:06:33,793 --> 00:06:35,795
to a mortgage broker
or your bank,

208
00:06:35,828 --> 00:06:36,596
you should ask.

209
00:06:36,596 --> 00:06:38,431
Don't focus on
just asking

210
00:06:38,431 --> 00:06:39,665
what's your current
rate?

211
00:06:39,665 --> 00:06:40,933
Also say

212
00:06:40,933 --> 00:06:41,734
how many points
do you

213
00:06:41,734 --> 00:06:42,602
charge
for this loan?

214
00:06:49,208 --> 00:06:50,576
After financing,

215
00:06:50,576 --> 00:06:51,577
it is important

216
00:06:51,577 --> 00:06:53,579
to determine
the timeline.

217
00:06:53,846 --> 00:06:55,681
How fast
would you like

218
00:06:55,681 --> 00:06:57,683
to be
in your new place?

219
00:06:58,017 --> 00:06:59,485
Now, there's
nothing wrong

220
00:06:59,485 --> 00:07:01,954
with browsing Zillow
and sipping wine,

221
00:07:02,355 --> 00:07:04,357
but debt is a hobby,

222
00:07:04,624 --> 00:07:06,993
and he rarely leads
to a new house.

223
00:07:07,827 --> 00:07:09,061
Buying
a house in Los

224
00:07:09,061 --> 00:07:11,063
Angeles
is a mission.

225
00:07:11,130 --> 00:07:13,132
We need to determine
a timeline

226
00:07:13,332 --> 00:07:15,935
and adjust our
efforts accordingly.

227
00:07:16,536 --> 00:07:18,004
Are you in a rush?

228
00:07:18,004 --> 00:07:18,571
Do you have

229
00:07:18,571 --> 00:07:20,573
three days
to get this done?

230
00:07:20,840 --> 00:07:22,375
Believe it or not,
I have dealt

231
00:07:22,375 --> 00:07:23,543
with buyers

232
00:07:23,543 --> 00:07:24,277
who have only

233
00:07:24,277 --> 00:07:26,279
a few days
to find a place.

234
00:07:26,579 --> 00:07:28,714
Now, that may not
be the case.

235
00:07:29,515 --> 00:07:31,417
So make it
very clear

236
00:07:31,417 --> 00:07:33,419
if you need a house
within six months,

237
00:07:33,619 --> 00:07:34,821
within a year,

238
00:07:34,821 --> 00:07:36,622
or you are just
browsing.

239
00:07:36,622 --> 00:07:38,191
Now, some people
can take a year

240
00:07:38,191 --> 00:07:39,625
to find
the right place,

241
00:07:39,625 --> 00:07:40,960
while others

242
00:07:40,960 --> 00:07:43,095
like to get it done
in a few weeks.

243
00:07:43,563 --> 00:07:45,231
Your time commitment

244
00:07:45,231 --> 00:07:47,233
should be directly
related

245
00:07:47,233 --> 00:07:49,235
to your necessity
level,

246
00:07:49,368 --> 00:07:52,438
and we will adjust
based on your needs.

247
00:07:59,779 --> 00:08:00,513
After we

248
00:08:00,513 --> 00:08:02,515
take care
of the financing,

249
00:08:02,548 --> 00:08:05,451
we have to start
focusing on the area

250
00:08:05,451 --> 00:08:07,386
we will be
looking in.

251
00:08:07,386 --> 00:08:09,822
The more precise
the work you do

252
00:08:10,122 --> 00:08:12,925
in preparation
to the search,

253
00:08:13,226 --> 00:08:15,228
the smoother
the process will be.

254
00:08:16,095 --> 00:08:18,130
Now, what area
should you live in?

255
00:08:18,731 --> 00:08:20,066
What is important
to you?

256
00:08:20,066 --> 00:08:21,934
Proximity to work.

257
00:08:21,934 --> 00:08:23,936
Parks. Schools.

258
00:08:23,970 --> 00:08:25,638
I've sold properties
from Malibu

259
00:08:25,638 --> 00:08:26,372
to Pasadena

260
00:08:26,372 --> 00:08:28,474
and from Simi Valley
to Newport Beach.

261
00:08:29,075 --> 00:08:30,009
And I can tell you

262
00:08:30,009 --> 00:08:30,576
that somebody

263
00:08:30,576 --> 00:08:31,344
who wants to live in

264
00:08:31,344 --> 00:08:32,645
Malibu will not

265
00:08:32,645 --> 00:08:34,280
be searching
in Pasadena.

266
00:08:34,280 --> 00:08:36,215
But these are
the extreme ones.

267
00:08:36,215 --> 00:08:37,016
There are a lot of

268
00:08:37,016 --> 00:08:38,784
little neighborhoods
in between.

269
00:08:38,784 --> 00:08:40,553
So somebody
that wants to be

270
00:08:40,553 --> 00:08:42,555
near the coast,
for instance,

271
00:08:42,955 --> 00:08:44,490
maybe looking at
places in Marina

272
00:08:44,490 --> 00:08:47,693
del Rey, Santa
Monica, Venice.

273
00:08:48,127 --> 00:08:50,363
And so the same is
true for Pasadena.

274
00:08:50,630 --> 00:08:51,597
If you work

275
00:08:51,597 --> 00:08:53,132
and want to be near
Pasadena,

276
00:08:53,132 --> 00:08:54,767
there's areas
such as Altadena,

277
00:08:54,767 --> 00:08:56,502
Eagle
Rock, Glendale,

278
00:08:56,502 --> 00:08:57,336
and so the

279
00:08:57,336 --> 00:08:58,871
the neighbors
and the cities.

280
00:08:58,871 --> 00:09:00,239
The list goes on
and on.

281
00:09:00,239 --> 00:09:00,773
But there are

282
00:09:00,773 --> 00:09:02,041
some things
you have to keep

283
00:09:02,041 --> 00:09:03,109
into consideration

284
00:09:03,109 --> 00:09:04,410
when you do
your search.

285
00:09:04,410 --> 00:09:06,412
Some of these things
are the commute.

286
00:09:06,445 --> 00:09:07,513
So if you

287
00:09:07,513 --> 00:09:08,548
are not privileged

288
00:09:08,548 --> 00:09:09,715
enough
to work from home

289
00:09:09,715 --> 00:09:11,717
or can't work from
home and and prefer

290
00:09:11,918 --> 00:09:12,351
and you are

291
00:09:12,351 --> 00:09:14,353
going to the office
on a daily basis,

292
00:09:14,487 --> 00:09:17,757
it is important to
live in a location

293
00:09:18,090 --> 00:09:20,793
where you get to
decide how much of

294
00:09:20,793 --> 00:09:21,894
a commute
can I handle?

295
00:09:23,362 --> 00:09:23,796
I'm going to do

296
00:09:23,796 --> 00:09:24,864
this again,
so I hope

297
00:09:24,864 --> 00:09:25,898
you edit this out.

298
00:09:25,898 --> 00:09:27,233
Some of it is good.

299
00:09:27,233 --> 00:09:29,235
Some of it is not.

300
00:09:29,368 --> 00:09:30,102
All right.

301
00:09:30,102 --> 00:09:33,906
So something
you have to do.

302
00:09:34,407 --> 00:09:36,409
Something
you should keep.

303
00:09:36,809 --> 00:09:38,778
Something
you should.

304
00:09:38,778 --> 00:09:40,079
Something
you should keep

305
00:09:40,079 --> 00:09:41,247
into consideration

306
00:09:41,247 --> 00:09:42,181
no matter where

307
00:09:42,181 --> 00:09:43,449
you live, is

308
00:09:43,449 --> 00:09:45,351
what kind of
a commute.

309
00:09:45,351 --> 00:09:47,219
Are you willing
to put up with?

310
00:09:47,219 --> 00:09:48,354
I say put up with.

311
00:09:48,354 --> 00:09:49,956
Because in
Los Angeles,

312
00:09:49,956 --> 00:09:50,957
some people can stay

313
00:09:50,957 --> 00:09:52,024
ten minutes
in the car,

314
00:09:52,024 --> 00:09:52,491
while others

315
00:09:52,491 --> 00:09:53,359
have to stay an hour

316
00:09:53,359 --> 00:09:54,527
and a half
in the car.

317
00:09:54,527 --> 00:09:55,461
Now, some of you may

318
00:09:55,461 --> 00:09:57,096
be able to work
from home

319
00:09:57,096 --> 00:09:58,965
or you are a freelancer, so you can kind

320
00:09:58,965 --> 00:09:59,899
of work wherever and

321
00:09:59,899 --> 00:10:01,167
just take meetings.

322
00:10:01,167 --> 00:10:03,536
But either way,
that is a decision

323
00:10:03,536 --> 00:10:05,738
you have to make
while

324
00:10:05,738 --> 00:10:06,872
you're searching
for a home.

325
00:10:07,974 --> 00:10:08,808
Also,

326
00:10:08,808 --> 00:10:09,875
if you
have children,

327
00:10:09,875 --> 00:10:10,543
you got to start

328
00:10:10,543 --> 00:10:11,877
thinking
about schools.

329
00:10:11,877 --> 00:10:12,778
So what school

330
00:10:12,778 --> 00:10:14,113
district
you want to be in?

331
00:10:14,113 --> 00:10:15,481
That is an important
decision

332
00:10:15,481 --> 00:10:17,483
you will have to
make.

333
00:10:21,621 --> 00:10:22,321
As you can see,

334
00:10:22,321 --> 00:10:22,922
there are many

335
00:10:22,922 --> 00:10:23,723
nuances

336
00:10:23,723 --> 00:10:24,323
when it comes to

337
00:10:24,323 --> 00:10:26,158
looking at specific
neighborhoods.

338
00:10:26,158 --> 00:10:27,994
And there may be
specific reasons

339
00:10:27,994 --> 00:10:30,997
why you want to be
in one specific area

340
00:10:30,997 --> 00:10:33,032
of Los Angeles
County over another.

341
00:10:33,799 --> 00:10:35,368
No matter where
you want to live.

342
00:10:35,368 --> 00:10:37,269
This county, this

343
00:10:37,269 --> 00:10:39,071
No matter where
you want to live,

344
00:10:39,071 --> 00:10:41,273
this county
is fascinating.

345
00:10:41,774 --> 00:10:43,709
So when you start
to search,

346
00:10:43,709 --> 00:10:44,910
you're going to get
to explore

347
00:10:44,910 --> 00:10:46,078
different
neighborhoods,

348
00:10:46,078 --> 00:10:47,413
different streets,

349
00:10:47,413 --> 00:10:49,181
and you will start
learning

350
00:10:49,181 --> 00:10:50,583
what you like
and what makes

351
00:10:50,583 --> 00:10:52,585
more sense for you.

352
00:10:57,757 --> 00:10:58,958
And now we

353
00:10:58,958 --> 00:11:01,193
start talking about
the home itself.

354
00:11:02,361 --> 00:11:03,396
This is
where we start

355
00:11:03,396 --> 00:11:04,964
narrowing
down the property

356
00:11:04,964 --> 00:11:06,932
you would like to
consider.

357
00:11:06,932 --> 00:11:08,434
Now, are you
only interested

358
00:11:08,434 --> 00:11:10,403
in a single family
residence,

359
00:11:10,403 --> 00:11:11,370
or would you
consider

360
00:11:11,370 --> 00:11:12,571
condominiums?

361
00:11:12,571 --> 00:11:14,573
Now, if you consider
condominiums,

362
00:11:14,573 --> 00:11:16,509
what about the HOA
fees?

363
00:11:16,509 --> 00:11:18,544
Now those are the
association fees,

364
00:11:18,878 --> 00:11:20,880
which are due
monthly

365
00:11:20,913 --> 00:11:22,915
in most condominiums.

366
00:11:23,215 --> 00:11:24,483
Now you have to
realize something

367
00:11:24,483 --> 00:11:25,651
very important.

368
00:11:25,651 --> 00:11:28,587
This can impact
your financing.

369
00:11:28,921 --> 00:11:30,156
Why is that?

370
00:11:30,156 --> 00:11:31,757
Because when you get

371
00:11:31,757 --> 00:11:32,525
approved for a loan,

372
00:11:32,525 --> 00:11:33,659
let's say
you can pay.

373
00:11:33,659 --> 00:11:34,560
You know, I'm going

374
00:11:34,560 --> 00:11:36,762
to give you
an example of $1,000

375
00:11:36,762 --> 00:11:37,763
a month
in a mortgage.

376
00:11:37,763 --> 00:11:38,431
Now in L.A.

377
00:11:38,431 --> 00:11:39,899
that's
pretty difficult,

378
00:11:39,899 --> 00:11:42,168
but let's just use
that as an example.

379
00:11:42,601 --> 00:11:44,570
You can pay $1,000
a month.

380
00:11:44,970 --> 00:11:46,372
But what about the
HOA fees?

381
00:11:46,372 --> 00:11:48,641
So let's say your
HOA fees are $300.

382
00:11:48,841 --> 00:11:51,510
Now you can only
pay $700 a month

383
00:11:51,510 --> 00:11:52,645
to what your loan

384
00:11:52,645 --> 00:11:54,647
and $300 to
what the HOA.

385
00:11:54,880 --> 00:11:56,982
Those are kept

386
00:11:56,982 --> 00:11:58,984
into account
by the lender.

387
00:11:59,051 --> 00:12:00,419
When they
are qualifying, you.

388
00:12:05,958 --> 00:12:07,359
Now we mentioned
just single

389
00:12:07,359 --> 00:12:09,361
family residence
and condominiums,

390
00:12:09,428 --> 00:12:11,230
but there is a few
things in between.

391
00:12:11,230 --> 00:12:12,565
You know,
there are townhouses

392
00:12:12,565 --> 00:12:13,365
which even though

393
00:12:13,365 --> 00:12:14,700
are just
condominiums

394
00:12:14,700 --> 00:12:16,702
on multiple levels,

395
00:12:16,736 --> 00:12:18,270
they're
a good option in

396
00:12:18,270 --> 00:12:19,405
certain areas.

397
00:12:19,405 --> 00:12:20,005
Now there are things

398
00:12:20,005 --> 00:12:23,008
such as tenancy in
commons or co-ops.

399
00:12:23,175 --> 00:12:23,909
All of these

400
00:12:23,909 --> 00:12:25,077
are things

401
00:12:25,077 --> 00:12:27,246
you have to keep
into consideration

402
00:12:27,513 --> 00:12:28,781
when you're looking.

403
00:12:28,781 --> 00:12:30,783
All of these
are things

404
00:12:30,816 --> 00:12:32,585
you have to keep
into consideration

405
00:12:32,585 --> 00:12:33,886
when you start
looking.

406
00:12:33,886 --> 00:12:34,920
Another important
things

407
00:12:34,920 --> 00:12:35,521
we need to know

408
00:12:35,521 --> 00:12:37,523
is how many bedrooms
do you want?

409
00:12:38,157 --> 00:12:39,625
Do you want stairs?

410
00:12:39,625 --> 00:12:42,495
No stairs, a yard,
no yard?

411
00:12:42,695 --> 00:12:43,763
Do you need a pool?

412
00:12:43,763 --> 00:12:45,331
I think
you get the idea.

413
00:12:45,331 --> 00:12:47,199
The list goes on
and on.

414
00:12:47,199 --> 00:12:48,000
Another important

415
00:12:48,000 --> 00:12:48,801
factor to keep in

416
00:12:48,801 --> 00:12:50,803
mind is property
conditions.

417
00:12:51,003 --> 00:12:51,937
Do you want
something

418
00:12:51,937 --> 00:12:53,539
that is moving,
ready,

419
00:12:53,539 --> 00:12:54,907
or are you willing

420
00:12:54,907 --> 00:12:56,675
to do a
little bit of work?

421
00:12:56,675 --> 00:12:58,410
All of these things
will be kept

422
00:12:58,410 --> 00:12:59,411
into consideration.

423
00:12:59,411 --> 00:13:00,446
But let me tell you
something

424
00:13:00,446 --> 00:13:02,181
that is
very important.

425
00:13:02,181 --> 00:13:03,883
The discovery
process

426
00:13:03,883 --> 00:13:05,985
does not necessarily
happen

427
00:13:06,719 --> 00:13:08,254
in the office,
does not necessarily

428
00:13:08,254 --> 00:13:09,155
happen
over the phone

429
00:13:09,155 --> 00:13:10,156
or over zoom.

430
00:13:10,156 --> 00:13:11,924
Sometimes you got
to hit the pavement,

431
00:13:11,924 --> 00:13:13,025
go out there,

432
00:13:13,025 --> 00:13:15,027
and as you start
looking at things,

433
00:13:15,060 --> 00:13:15,895
you will adjust.

434
00:13:15,895 --> 00:13:17,396
I’ll give you
an example.

435
00:13:17,396 --> 00:13:17,997
I just started

436
00:13:17,997 --> 00:13:18,430
looking with

437
00:13:18,430 --> 00:13:19,498
some clients

438
00:13:19,498 --> 00:13:21,500
that while
we were talking,

439
00:13:21,600 --> 00:13:22,668
it never occurred
to them

440
00:13:22,668 --> 00:13:23,903
to tell me
that they didn't

441
00:13:23,903 --> 00:13:25,137
want carpet, right.

442
00:13:25,137 --> 00:13:26,305
So once

443
00:13:26,305 --> 00:13:26,972
we went out there

444
00:13:26,972 --> 00:13:27,807
and we started
looking

445
00:13:27,807 --> 00:13:28,541
and they saw,

446
00:13:28,541 --> 00:13:29,809
you know, carpet,
they were like,

447
00:13:29,809 --> 00:13:31,277
we want to steer
away from that.

448
00:13:31,277 --> 00:13:33,245
Now you can change
floors,

449
00:13:33,245 --> 00:13:34,113
but not always.

450
00:13:34,113 --> 00:13:35,447
Sometimes you can't.

451
00:13:35,447 --> 00:13:36,849
Like in an apartment
buildings.

452
00:13:36,849 --> 00:13:37,950
You may be HOA

453
00:13:37,950 --> 00:13:39,952
regulations, rules
and regulations

454
00:13:40,319 --> 00:13:41,353
where you need
to have

455
00:13:41,353 --> 00:13:43,556
carpets on the floor
because of noise.

456
00:13:44,390 --> 00:13:45,558
So if you want to
stay away

457
00:13:45,558 --> 00:13:46,926
from carpet,

458
00:13:46,926 --> 00:13:48,327
that's not something
you can change.

459
00:13:48,327 --> 00:13:49,895
If you're buying
a condominium where

460
00:13:49,895 --> 00:13:51,330
it's restricted.

461
00:13:51,330 --> 00:13:53,332
So keep those things
in mind.

462
00:13:53,465 --> 00:13:55,034
And as I said, once
you go out there

463
00:13:55,034 --> 00:13:56,669
and you start
learning,

464
00:13:56,669 --> 00:13:59,171
things will change.

465
00:13:59,305 --> 00:14:01,006
You will also adapt.

466
00:14:01,006 --> 00:14:03,008
Like I said, talk
about rooms, right?

467
00:14:03,042 --> 00:14:03,409
You said

468
00:14:04,476 --> 00:14:04,977
we talked

469
00:14:04,977 --> 00:14:06,212
about like I said,

470
00:14:06,212 --> 00:14:08,113
let's talk about
how many rooms.

471
00:14:08,113 --> 00:14:09,782
So that can change

472
00:14:09,782 --> 00:14:11,317
because you can say
we need two

473
00:14:11,317 --> 00:14:12,718
three rooms,
but maybe two rooms

474
00:14:12,718 --> 00:14:13,919
in a Denny's.
Enough.

475
00:14:13,919 --> 00:14:15,254
So all those things

476
00:14:15,254 --> 00:14:17,022
you will have
to find out.

477
00:14:17,022 --> 00:14:18,657
And the best way
to do it

478
00:14:18,657 --> 00:14:20,492
is by starting
to look at places

479
00:14:20,492 --> 00:14:22,494
and seeing
what's out there.

480
00:14:26,632 --> 00:14:27,766
Now, as I said,

481
00:14:27,766 --> 00:14:28,100
it is

482
00:14:28,100 --> 00:14:31,237
extremely important
to do your homework

483
00:14:31,804 --> 00:14:33,806
together.

484
00:14:34,106 --> 00:14:35,174
Now, as I said,

485
00:14:35,174 --> 00:14:35,474
it is

486
00:14:35,474 --> 00:14:38,010
extremely important
to work together

487
00:14:38,277 --> 00:14:40,279
to find out exactly

488
00:14:40,412 --> 00:14:42,414
how to proceed.

489
00:14:42,748 --> 00:14:44,550
Now, once you are
ready,

490
00:14:44,550 --> 00:14:46,218
you go out there

491
00:14:46,218 --> 00:14:48,220
and you find a.

492
00:14:50,055 --> 00:14:51,223
Now that we got

493
00:14:51,223 --> 00:14:53,192
all of this
out of the way,

494
00:14:53,192 --> 00:14:54,293
we are ready

495
00:14:54,293 --> 00:14:55,594
to start this search

496
00:14:55,594 --> 00:14:57,596
and find
the perfect home.

497
00:14:58,163 --> 00:15:00,165
But in the grand
scheme of things,

498
00:15:00,399 --> 00:15:02,501
we still have
a lot of work to do.

499
00:15:02,801 --> 00:15:03,802
Before
I can hand you

500
00:15:03,802 --> 00:15:05,804
the keys
to your new home.

501
00:15:06,205 --> 00:15:08,540
However, this
concludes part

502
00:15:08,540 --> 00:15:09,942
one of How to Buy a

503
00:15:09,942 --> 00:15:11,810
Home in Los Angeles.

504
00:15:11,810 --> 00:15:12,511
Be sure to

505
00:15:12,511 --> 00:15:14,513
stay tuned
and watch part two

506
00:15:14,580 --> 00:15:15,147
when we can

507
00:15:15,147 --> 00:15:15,915
actually go

508
00:15:15,915 --> 00:15:17,917
out there and
look at properties.

509
00:15:18,150 --> 00:15:19,685
I am <PRESIDIO_ANONYMIZED_PERSON>,

510
00:15:19,685 --> 00:15:21,720
your trusted
Los Angeles realtor.

511
00:15:21,987 --> 00:15:23,856
Hit the like and
subscribe button.

512
00:15:23,856 --> 00:15:25,758
And if I don't hear
from you sooner,

513
00:15:25,758 --> 00:15:28,427
I will see you in
the next video. Bye.