Foreclosure in 94063>Question Details

Want2BuyRent…, Home Buyer in Dallas, TX

I inherited $200k. Looking for an investment. Ideally, a foreclosure property with multiple units. I have a great credit score. Loan is not an issue.

Asked by Want2BuyRentalProperty, Dallas, TX Sun Dec 12, 2010

Just like any sane person out there, I want to have the highest ROI on this investment. If you are a foreclosure expert in south bay area and/or manage rental property, I would love to get in touch with you. Areas of interest: general san mateo and santa clara county. Please let me know how to get a hold of you. Thanks,

Regards,

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Answers

6
Arn Cenedella’s answer
I have several investors active in the REO foereclosure market in San Mateo County.
I am finding my investors property in East Palo Alto, east Menlo Park, and east Redwood City that can be purchased with 20% to 25% and provide a small positive cash flow.
Being able to find properties on the Peninsula which will cash flow with 20% to 25% down was unheard of 3 or 4 years ago.
Most of these REOs can now be purchased for about 1/2 of what they sold for 3 to 5 years ago.
I agree there is a good chance for future appreciation.
And property values do not need to return to the PEAK in order for these properties to be good investments.
Of course, most of these properties will not be in good condition and most of the tenants for these properties may have credit issues or be on the Section 8 HUD housing program.
So you will need to prepared to actively manage these properties or hire a professional to do the same.
You can go to my website for a up-to-date list of foreclosures.
Good luck.

Arn
0 votes Thank Flag Link Mon Dec 13, 2010
Great question. Once you find the right agent to help you find what you think to be the right property, do not hesitate to call me to bump it off someone else who sells a lot of investment property. You can get my contact info through my website below. Best Regards!
0 votes Thank Flag Link Mon Dec 13, 2010
One thing I forgot to mention. Not all foreclosures are good buys. Many need a lot of work. Find an agent who knows the area where you want to purchase and look at "ALL" the properties that are available. Some sellers are very motivated or may be doing a tax exchange.

Focus on finding the "best" property you can find for you money.

Cheers,

Tap
0 votes Thank Flag Link Mon Dec 13, 2010
Congrats on making a decision to invest in real estate. I Hope you didn't lose a loved one.

Sounds like you are pretty solid, so it's about finding the "right" property for you. Are you looking for an investment that will pay you right away with cash flow, or more concerned with your ROI in the next 5-10 years? It's not always how much, but how long. The longer you stay in the market, the more you will make.

If you are looking in San Mateo County, I think you will find some very good properties that have tremendous upside in appreciation. These investments should pay your principal and interest, and possibly your property tax. They may even provide a little bit of cash flow, but not much.

If you are more concerned with cash flow, you might be better off investing in Santa Clara or the East Bay.

I'm more than happy to email you potential investment properties, and I can put you in touch with someone who will find you good tenants.

Good luck,

Tap
Coldwell Banker
http://www.DavidTapper.com
http://www.TeamTapper.com
650-403-6252
0 votes Thank Flag Link Sun Dec 12, 2010
Good for you that you are one of the lucky ones. This is the best time to acquire properties whether it will be an investment or for first time properties. Buying multi family will be ideal too for you since you are a first time homebuyer, you can live in one unit and rent the rest, this will be a great way to help in your monthly mortage.

If you would like i can send you some listings in San Mateo and Santa Clara county area of your choice.

Let me know as well if you have any questiions and would be glad to answer tehm for you.

Best Regards,

Cristina Weglinski
Avant Properties
415-987-3784
cristyweg@comcast.net
http://www.cristinaweglinksi.com
0 votes Thank Flag Link Sun Dec 12, 2010
Hi,

I recommend Cynthia Continello with Villa Properties. She is a foreclosure specialist that works in our brokerage. You can learn more about her and contact her at http://www.reolady.net.

Best wishes!
Lisa Ladd
Villa Properties
650-218-4469
DRE#01869587
Web Reference: http://www.reolady.net
0 votes Thank Flag Link Sun Dec 12, 2010
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