Meet David Shin
David Shin |
David Shin, a local Los Angeles real estate agent, is dedicated to helping clients fulfill their goals and dreams. Whether it's buying your first dream home or if you just want someone to sell my house and relocate to a new neighborhood, he is committed to the success of his clients through smart negotiations and strategies in buying or
David Shin, a local Los Angeles real estate agent, is dedicated to helping clients fulfill their goals and dreams. Whether it's buying your first dream home or if you just want someone to sell my house and relocate to a new neighborhood, he is committed to the success of his clients through smart negotiations and strategies in buying or selling alike. He is professional, knowledgeable, and experienced to get things done.
As a longtime Angeleno of over 30 years, David Shin loves LA and enjoys experiencing the diverse cultures and atmosphere of each unique neighborhood. This gives him an understanding of the real estate market and local neighborhood knowledge.
For first-time home buyers, you need a buyer's agent you can trust. He specializes in guiding you through the process step by step and never leaving your side. Even for experienced buyers, he will continue to guide you through the process to ensure you are completely comfortable and confident throughout the transaction.
For home sellers, with support from an extended team, he specializes in providing staging and remodeling services upfront as well as provide your listing an omnipresent online marketing presence to sell your home fast in this digital age. He will partner with you to plan a strategy that works for you to achieve your goals.
David Shin’s dedication to his clients and listening carefully to their needs allow him to deliver on every promise he makes and exceed expectations every time. Whether it is selling fast or finding the perfect property, David Shin is the local Los Angeles Realtor with the experience you need!
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4 Tips for Self-Employed Homebuyers
A Homebuyer's Guide to Using Gift Money
4 Tips for Self-Employed Homebuyers
Getting a mortgage can be challenging when you don’t have a 9-to-5 job — or at least one that offers consistent pay stubs.
Don’t fret, though. If you’re a freelancer, gig worker, business owner or another type of independent contractor, it’s still possible to buy a home — it just takes a proactive approach and some planning to make it happen.
Are you a nontraditional worker hoping to get a mortgage? Here are some steps you can take:
- Focus on consistency. It’s vital to show lenders that you have regular income when applying for a mortgage. Try to work steadily in the lead-up to your home purchase — and be sure all your income is documented with invoices, deposit slips and bank statements.
- Make your financial picture appealing. Lenders often see nontraditional workers as a risk because their income isn’t as consistent as that of a salaried worker. You can offset this risk by improving your credit score, paying off some debts or increasing your income if possible. (Maybe you can take on a side hustle or an extra project in the months before applying.)
- Keep financial paperwork organized. Since you won’t have pay stubs to verify your income, other forms of documentation will be key in your application. Make sure you have the following on hand: your bank statements; your business’s profit-and-loss statements; proof of past invoices, deposits and contracts; and any other important paperwork.
- Get creative with your financing. Conventional and FHA loans aren’t the only options. Non-QM mortgages can be smart for self-employed borrowers, and bringing in a co-buyer can help, too. Talk to a loan officer for more recommendations based on your situation.
Get in touch if you’re ready to start your home search or need a referral to a trusted lender.
4 Reasons to Hire a Contractor
A Homebuyer's Guide to Using Gift Money
4 Tips for Self-Employed Homebuyers
Remodeling your home can be a big (and stressful) undertaking. Fortunately, hiring a contractor who’s well-versed in the process can help alleviate some of that stress.
If you bring in a contractor, be diligent in your hiring. Get referrals, compare quotes and interview several candidates to make sure you get the best fit for the job.
Are you unsure how a contractor can help with your project? Here are four ways:
- They can handle all the permits. Many remodeling projects — even small ones — require permitting from the city. A contractor will know how to obtain these permits and what documentation is necessary for approval. And if you’re selling in the future, having project permits will be important to prove everything was done correctly.
- They can build a skilled team. You’ll likely need several workers (including specialized ones) if you’re doing a large project. An experienced contractor will know plenty of vetted professionals they can hire to help get the job done right.
- They can improve efficiency. A seasoned contractor wants to ensure your project stays on track and is completed on time; they should have paperwork to give you a timeline and other essential information. In addition, they’ll have a plan to divide up the tasks among workers to minimize mess and disruption.
- They could reduce your material expenses. Contractors typically have connections to local suppliers and material vendors. They may also get discounts for ordering in bulk (or for multiple projects at once) — all of which can help you save in the long run.
Reach out if you’re considering buying a new place rather than remodeling your current one.
A Homebuyer's Guide to Using Gift Money
A Homebuyer's Guide to Using Gift Money
A Homebuyer's Guide to Using Gift Money
Coming up with a down payment can feel like quite a hurdle.
For millennials, who are currently the largest cohort of homebuyers, getting help with the down payment is fairly common — roughly 29% of younger millennials receive gift money from a loved one.
Are you considering using gift funds during your homebuying journey? It’s important to understand the rules surrounding this strategy when applying for a mortgage.
Here’s what you need to know:
Q: How much can you get?
A: This depends on your mortgage program: With FHA loans, for example, the entire down payment can be funded via gift money. Conventional loans will only allow this if you put down 20% or more.
Q: Who can offer gift money?
A: Again, this depends on the loan type. A conventional loan only allows for family gifts, while others may let you use gift money from friends, employers, down payment assistance programs and more.
Q: How should it be documented?
A: If you’re using gift money for your down payment, your lender will require a letter from the gift-giver which states that you, the recipient, do not need to repay the funds. If you do repay the money later, it could be considered mortgage fraud.
You may also need a copy of the check or wire transfer from the gift-giver, your deposit slip and the withdrawal slip showing them taking the funds from their bank account. You might be asked to share a copy of your bank statement (showing when and how much was deposited), too.
Do you need help finding a home — and a trusted lender? Reach out for more guidance.
4 Ways to Prevent Water Damage at Home
What Does (and Doesn't) Come With a Home
A Homebuyer's Guide to Using Gift Money
Homes often get a lot of water exposure in the back half of the year due to storms and winter weather. And that doesn’t even include the internal issues that can cause water damage, like undetected plumbing problems.
It’s important to consider how that water could threaten your property: It can damage your roof, cause mold and mildew, and ruin your belongings.
These four steps can help prevent water damage to your home and everything in it.
- Keep gutters and downspouts clear. Clogged gutters cause water and ice melt to build up instead of flowing out. This can cause damage to the roof and lead to expensive repairs.
- Monitor water pressure and plumbing issues. It’s important to catch leaks and other plumbing problems early — before they cause serious destruction. You may want to consider installing a water leak monitor for your pipes; many come with handy apps that alert you of even the smallest leak or potential problem.
- Make sure your roof and chimney are maintained. Get your roof and chimney inspected annually. Sometimes, just repairing a small area of the roof can make all the difference in a storm.
- Keep an eye out for mold and mildew. Monitor your ceilings for signs of mold and mildew, which typically indicates a leak or deeper moisture issue at work. If you see anything remotely suspicious, call a plumbing professional to look at it.
Those in flood- or hurricane-prone areas should look into their options for a flood insurance policy — separate from homeowners insurance — that protects you in case of weather-related flooding.
If you want to learn more about homeownership or anything real estate-related, please get in touch.
What Does (and Doesn't) Come With a Home
What Does (and Doesn't) Come With a Home
What Does (and Doesn't) Come With a Home
When you tour a house for sale, it’s often staged, complete with appliances, window dressings, furniture and decor.
These items can certainly make a place look appealing, but the reality is that most of them won’t come with the house if you decide to buy.
So, what exactly do you get when you purchase a house from its previous owners? Do you know which items stay and which ones go? Here’s what you should know:
Only “attached” fixtures tend to come with the house. This means ceiling fans, security systems, built-in appliances, window screens, storm doors, blinds and similar items should remain part of the home. Removable items — like curtains or furniture, for example — aren’t attached and probably wouldn’t be included.
Outdoor items that are fixed to the property are included. The mailbox, a built-in fire pit, plants, shrubbery and an in-ground pool would all be examples of items that stay. Portable things, though — like a hot tub or unattached grill — typically would not come with the house.
Almost everything is up for negotiation. If there’s a certain item you saw and loved in the home, we can discuss it to negotiate with the seller and their agent. Depending on how in-demand the property is (and how special the item is), the seller may ask for more money — but, in some cases, they may be willing to throw it in for free.
Sometimes, sellers will specifically call out items they don’t want included in the sale — even some attached items. We'll talk about negotiating and comparing these elements of an offer as we go.
Do you need help finding your next home? Get in touch today to get started.
Reduce Moving Costs With These 4 Tips
What Does (and Doesn't) Come With a Home
What Does (and Doesn't) Come With a Home
Moving can be expensive, whether you’re headed a few miles away or across the country.
There are the costs to rent a truck, purchase packing supplies and possibly hire professional movers — all of which may be more expensive now because of inflation.
Fortunately, there are ways to reduce your costs if you plan ahead. Do you want to save money on your next move? Just follow these tips:
- Declutter and donate before packing up. There’s no sense in paying to move items you no longer want or use. Before you start packing or getting moving quotes, declutter your home. You can donate or sell anything you don’t actively use if it’s still in good shape. You might be surprised how much time and money it can save you later.
- Get creative with packing materials. Buying boxes, tape and other packing supplies can quickly increase your costs. Instead of purchasing these items, try to source them from neighbors, work or your local stores. You can also use towels, sheets and other linens (which need to be packed anyway) as DIY padding for fragile items.
- Shop around for professionals. Don’t go with the first truck rental or moving company you find. Get quotes from several providers and read reviews to ensure you’re getting good service with a trustworthy company — and at a reasonable cost.
- Pick your moving dates carefully. The cost of movers rises when they’re in high demand, so plan your move for a less popular time of the year, month and week. Typically, movers cost less in the fall and winter, in the middle of the month, and on weekdays (not including Fridays).
Are you hoping to find a new place to move to soon? Reach out today.
How You Can Reduce Homebuying Stress
4 Reasons a Home Is a Retirement Asset
4 Reasons a Home Is a Retirement Asset
Buying a home can be stressful (especially in a hot market).
But you’re in luck: There are ways to combat any worries you have and make homebuying a more enjoyable journey.
Are you getting ready to purchase a home? Want to ease the stress of it all? Here are four strategies that could help.
- Prep your finances early. Having your finances in order can help make the process significantly smoother. You should have plenty saved up for your down payment and closing costs, and be sure to gather all the documentation you’ll need to apply for a mortgage (W-2s, bank statements, etc.).
- Communicate openly about what you want. Knowing your needs and deal breakers — and communicating them early on — is critical to a hassle-free process. We’ll go over your budget, home purchase goals and any questions and concerns you might have along the way.
- Delegate where possible. You don’t have to do everything on your own; in fact, that could make the process more stressful. Instead, rely on the experts — your loan officer, home inspector and other pros involved in the process. Lean on us for help and support, and don’t feel like it all rests on your shoulders. Family and friends could help carry some weight, too.
- Keep the big picture in mind. There may be hiccups along the way, but never lose sight of the big picture: your dream home and all that comes with it. Keeping things in perspective can help you weather anything that might come your way.
Get in touch so you can have an experienced real estate agent by your side and reduce your homebuying stress considerably.
4 Reasons a Home Is a Retirement Asset
4 Reasons a Home Is a Retirement Asset
4 Reasons a Home Is a Retirement Asset
As a homeowner, your house is likely your biggest asset.
It can help you build wealth and improve your finances — and in retirement, it might serve as a much-needed source of financial support.
That last part is important. Whether you’re 25 or 55, having a plan is critical to an enjoyable and worry-free retirement.
Want to know how your home can help you plan for your golden years? Here are four ways it can factor in:
- You can leverage your home equity. Most homeowners are sitting on serious amounts of equity right now. You can tap into that by taking out a home equity loan or home equity line of credit (HELOC). In retirement, these can be great options for covering medical bills, paying off higher-interest debts, or funding home improvements.
- You can sell and use the profits. Many retirees choose to sell their homes and downsize to a smaller property. If you decide to take this route, you can use the sale proceeds to support your retirement — plus, you’ll enjoy a smaller home that’s easier to maintain.
- You can refinance. Refinancing could help in a couple of ways: A regular refinance may help you reduce your monthly payment and create liquidity. But if you opt for a cash-out refinance, it could also give you funds to use toward your retirement goals.
- You can rent out your home. Your house can become a source of regular income in retirement if you rent out a room or the whole home for short- or long-term tenants. Get in touch to learn about local laws and restrictions.
A home can be a valuable financial asset at any life stage. Are you interested in buying a new property? Get in touch today for help.
How to Reduce Your Homeownership Costs
4 Reasons a Home Is a Retirement Asset
How to Reduce Your Homeownership Costs
From taxes and insurance to maintenance and repairs, homeownership comes with a variety of costs.
But don’t worry: These expenses don’t have to break the bank.
With a strategy (and maybe a few key home updates), you can reduce your costs in the long run. You may even make your home safer and less prone to damage.
Want to cut the costs of homeownership? Try these five approaches:
- Homeowners Insurance: Want to reduce your insurance premiums? You could bundle your home and auto policies, upgrade older systems in your home, or add safety devices (like burglar alarms and smoke and carbon monoxide detectors).
- Utilities: To reduce your monthly utility bills, invest in Energy Star-certified appliances, and consider getting a smart thermostat. Other things that may help include seasonal weatherproofing, updating your windows, adding more insulation and installing LED lighting.
- Taxes: If your property taxes increase, you can challenge them with your local appraisal board. You might also be able to file for a homestead exemption for a primary residence, which puts a cap on how much your taxes can increase each year.
- Repairs: Contractor costs and building material prices are still rising. Shop around for the parts you need, and consider doing any projects you’re qualified for on your own rather than outsourcing. You can also shop secondhand for lower-cost supplies.
- Mortgage: Refinancing for a lower rate could lower your monthly mortgage payment and help your financial situation overall. Even if you refinance to a shorter term (raising your monthly payments), you can typically reduce your long-term interest costs.
If you have questions about homebuying and homeownership, reach out today.
Stage Your Home With These 5 Tips
Getting Started in Real Estate Investing
How to Reduce Your Homeownership Costs
Staging is a vital tool when selling a property. The majority of buyer's agents say staging can increase offers by anywhere from 1% to 20%, according to a report from the National Association of Realtors.
On a home listed at $400,000, that could mean up to $80,000 more.
Do you want to market your property better, or potentially fetch a higher sale price? Keep these staging tips in mind:
- Focus on important rooms. If you don’t have time or want to spend enough to stage the whole house, focus your efforts on a few rooms. NAR’s staging report shows that buyers value staging most in the living room, main bedroom and kitchen.
- Let some light in. Light (particularly natural light) opens up a space and makes it appear larger, so focus on light-reflecting colors and lightweight drapery. You can also add a few carefully placed mirrors to reflect even more light.
- Consider the use of the room. You want buyers to envision themselves in the home, so focus on what each room is used for when staging. Show them what life could be like if they purchase the home: Set the table in the dining room, add a cozy throw blanket to the living room sofa, and turn on the reading lamps by the bedside.
- Don’t forget outdoor spaces. Curb appeal is important, too. Spend time arranging your front door and porch, cleaning up the yards and making your home look more welcoming.
- Keep it simple. Be wary of staging your home with too-trendy decor. Minimalist, neutral palettes are timeless, and they’ll ensure your home appeals to everyone who steps foot in it.
Want help selling your property? Get in touch so we can work together to make it stand out from the competition.
What to Know About Home Inspections
Getting Started in Real Estate Investing
Getting Started in Real Estate Investing
You probably know that home inspections are often part of the homebuying process.
But do you know why they’re so important — or what they mean for your home purchase or sale?
Home inspections can play a big role in whether your homebuying (or selling) efforts are successful.
Are you hoping to buy or sell a house soon? Here’s what you should know about how a home inspection might impact your goals.
Inspections aren’t required. A home inspection is generally encouraged for buyers, but it’s not required. In a hot market, buyers might waive their right to an inspection to win a bidding war. But be careful: This could hurt you financially if you find yourself having to make large repairs and renovations.
The results can influence your deal — and your price. If the inspector finds issues, the buyer will often want to renegotiate. They might ask the seller to make repairs before closing or offer a lower price point to account for them. If they have an inspection contingency, a buyer can even pull out of the deal without losing earnest money.
You have to pay for an inspection. Home inspection costs vary by market and inspector, but they typically cost between $250 and $500 per property. Since the inspection is for the buyer’s benefit, they cover this cost out of pocket, usually as part of the closing costs.
Sellers sometimes get pre-listing inspections. By getting one before the home hits the market, sellers can identify any problems that could hold back their sale. In many cases, sellers are required to disclose any issues their inspector finds if they haven’t been fixed.
If you’re preparing to buy or sell a home, get in touch today to start working with an experienced real estate professional.
Getting Started in Real Estate Investing
Getting Started in Real Estate Investing
Getting Started in Real Estate Investing
It seems like more and more people are investing in real estate lately. Is this the right time to try it for yourself?
If all goes well, investing in property can help you build wealth and generate passive income.
But this endeavor requires careful planning, of course, and not everyone is able to achieve the profits they’re looking for.
Are you considering venturing into the world of real estate investing? Here’s what to consider before getting started.
Define Your Goals
Are you looking for passive income? Long-term wealth? Or do you want a place you can rent out and occasionally use for vacationing? Your goal will ultimately determine the best investment strategy to pursue.
Set a Budget
How much can you afford to pay for the property? What about maintenance, repairs and other monthly costs? Have a good idea of the financials — both upfront and for the long haul — before making any moves.
Consider the Location
Real estate is all about location. You’ll want to choose where you purchase carefully, looking at market data like prices, rents and booking rates. (Reach out for help gathering this information.)
You should also consider how often you’ll need to be at the property. Will you need to pop by for repairs, or can you hire a property management company to do the work for you?
Prepare for Potential Challenges
There will likely be hurdles along the way, so do your best to anticipate them. What if a tenant stops paying rent or a short-term rental guest trashes your home? What if the property needs a big repair and you don’t have the cash? Create contingency plans for any issues you can think of.
Ready to find the perfect property to rent out or flip? Reach out to discuss what you’re looking for.
