L.A. Loft Blog

The Cost of NOT Owning Your Home

Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed.

Zillow recently reported that:

“In reality, buying or renting a home is an intensely personal decision, with emotional and even financial considerations that go beyond whether to invest in this one (admittedly large) asset. Looking strictly at housing market numbers, there is a concrete point at which buying a home makes more financial sense than renting it.”

What proof exists that owning is financially better than renting?

We recently highlighted the top 5 financial benefits of homeownership:

Homeownership is a form of forced savings.
Homeownership provides tax savings.
Homeownership allows you to lock in your monthly housing cost.
Buying a home is cheaper than renting.
No other investment lets you live inside of it.

Studies have shown that a homeowner’s net worth is 44x greater than that of a renter.
Just a few months ago, we explained that a family that purchased an average-priced home at the beginning of 2017 could build more than $48,000 in family wealth over the next five years.
Some argue that renting eliminates the cost of taxes and home repairs, but every potential renter must realize that all the expenses the landlord incurs are already baked into the rent payment– along with a profit margin!! #LOFT #DTLA

Bottom Line

Owning your residence has always been, and will always be, better from a financial standpoint than renting. Now you understand the value of owning have a look at this downtown Loft located at: 630 W 6th Street Los Angeles, CA 90017

Location! Location! Location! This desirable demanding condominium is in the heart of Down Town Los Angeles. Right next to the Library. Conveniently living around shopping, restaurants, offices, public library and transposition. This sleek turnkey unit includes stainless steel appliances and one parking space. Amenities include GYM, Media Room, Sundeck and 24/7 concierge. It is offered to sale as it is condition. The entire complex was renovated in the late 1990’s

For more guidance in shopping for a Downtown Los Angeles Loft sign up for a free list of available properties. Fill out the request form here

<a href="https://laloft.wufoo.com/forms/m1spfx910pdzxmx/" target="_blank" rel="noopener noreferrer">Fill out my Wufoo form!</a>

630 W 6th Street interior — Awesome interior

Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 We are not associated with the homeowner’s association or developer. For more information, contact (213) 880-9910 or visit LAcondoInfo.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.

He should be put away for a while this time. Arrested this week on multiple charges including check bouncing, giving false information to police, drugs, probation violation and fraud, fake real estate philanthropist Drew Christian Donovan is now in San Mateo County jail awaiting a hearing on June 14. #drewdonovan #fraud #dtla

Arrested again - Drew Donovan — Arrested and facing charges – Drew Donovan

Donovan, who also goes by the name Christian Andrews and once known as convicted felon Jimmy Wayne Jackson originally of Holland, Michigan, first gained the attention of the L.A. Loft Blog more than a year ago after he called our office requesting help to buy a luxury Sky loft in Downtown Los Angeles. It turns out that he is a scammer who claims to be a wealthy individual with terminal cancer who wants to help deserving individuals to pay their bills, and even wants to buy them a home. He just needs some assistance along the way to avoid his meddling parents, and he asks for a bit of help for his expenses during the process — well, he wants thousands of dollars of help actually. Based on Donovan’s carefully crafted B.S., it can seem like a small price to pay for more than a million dollars of handouts.

Free Million Dollar Condo! -- Not — Free Million Dollar Condo! — Not

Of course, his payments of the bills will bounce, the million dollar check will bounce and the home purchase will never occur as his earnest money deposit confirmation and all other financial confirmations that he provides are phony. Naturally, nearly everything he says is a lie. Donovan is a full-time charlatan who runs a criminal enterprise using the highest level of skill, technology, forgery and identity theft to bilk hundreds of victims (including families and disabled persons) out of millions of dollars to support his depraved lifestyle of drugs and anonymous sex. He has even been accused of kidnapping a mother away from her children, and, based evidence recovered by the LA Loft Blog, Donovan might possibly be suspected of poisoning and rape using sleeping pills like Ambien. This monster is exactly where he belongs today because we all worked together to stop him:

Name: DONOVAN, DREW C
DOB: 11/21/1968
Gender: M
Facility: Maguire Correctional Facility
Case Number: 18-3379
SMCSO: 1223104
Booking Number: 767471.0
Next Court Date: 06/14/2018 01:30PM
Projected Release Date: Not Available
Court Dockets
COURT DOCKET BAIL CHARGE
18-NF-006521-A USD 25,000.00 M 148.9(a) PC Giving False Information To A Police Officer
18-NF-006521-A USD 25,000.00 M 11364.1 HS Possession Of Smoking Device
18-NF-006521-A USD 25,000.00 F 532(a) PC Obtaining Money, Labor Or Property By False Pretenses
18-NF-006521-A USD 25,000.00 F 11377(a) HS Possessing A Controlled Substance
18-NF-006521-A USD 25,000.00 F 4573 PC Bring Drugs Into A Jail
WR018085 NO BAIL F 1203.2 PROBATION VIO PC 1203.2 PROBATION VIO
WR018085 NO BAIL F 476A(a) PC Making Or Delivering A Check Exceeding $950 Knowing There Are Insufficient Funds For Payment
BURA10088701 NO BAIL F 476A(a) PC Non-Sufficient Fund Check Multiple Checks (Felony) | Submit / Request Evidence: crimestoppers@laloftblog.com

Thanks the mindful readers of the L.A. Loft Blog and the South San Francisco Police, the conniving creep is now safely behind bars where he belongs. Let’s hope he stays there for quite a while before he slithers his way back to Southern California. In the mean time, we all need to remain vigilant against fraudsters, con artists and other dangers that lurk.

Prospective home buyers can avoid fake information, find missing disclosures and dodge many other problems by knowing what is really going on with each building in Downtown Los Angeles. All loft buildings have issues that buyers want to know about before going to look at the properties for sale. Get a free list of lawsuits and litigation Fill out the online form:

<a href="https://laloft.wufoo.com/forms/zzdsl1f1k78x3i/" target="_blank" rel="noopener noreferrer">Fill out my Wufoo form!</a>

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 We are not associated with the homeowner’s association or developer. For more information, contact (213) 880-9910 or visit LAcondoInfo.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Names have been changed to protect victims. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker. | Submit / Request Evidence: crimestoppers@laloftblog.com

Author: L.A. Loft Blog

Downtown Los Angeles Lofts – Why Buying is the Right Choice.

This Time They Really Got Him — Fraudster Drew Donovan in Jail Facing Eight Charges

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