Thanks for posting your inquiry here on Trulia.
I work with groups of investors, traditional sellers, which include flips, short sales, Foreclosures, and Wholesale investors. My group will be able to handle your projects.
Feel free to email/text/call for additional information.
By the way, my contacts are in all local Counties including LA, Orange County, Riverside, San Diego.
(714) 269-8775 Mobile
DRE # 01332235
Happy New Year!
As Christine and Holly mentioned, here in Southern California, we have a low inventory market. It is good to know that you are willing to look at properties away from the ocean as this will increase the likelihood of finding some at your price range. I believe that it is possible for you to carry out your plan and invest in Southern California.
If I can be of further assistance, please feel free to contact me at your earliest convenience. I would love to email you properties of interest.
Star Real Estate South County
As Holly mentioned below, our inventory is very limited currently with approximately 3100 homes and condos currently for sale in Orange County as compared to 7800 a year ago. That said, cash buyers frequently have an advantage, particularly when a home is in need of work.
The price range that you are considering is available in Orange County, especially a little more inland, though it requires diligence to find deals in today's market.
Please contact me with any additional questions.
Real Estate Broker/Attorney
DRE # 01267479
Thanks for asking this question. In the current Southern California Real Estate market there is limited inventory. Cash buyers certainly can have an advantage, especially when a home needs to be completely rehabbed.
The budget that you mentioned is a heathy one and you seem realistic. By being open to areas that are a but inland you will gain more options and see a variety of price points.
I would be happy to suggest homes to you that fit your requirements in terms of condition and return. Please feel free to contact me to discuss the market further, specifically in Orange County.
You have received wise council from Holly, Christine, Melchor, as well as Alex. It's enthusing to know that our southern California regions are providing more purpose minded (client focused) professionals.
COST TO BUILD
In addition to the inventory insight provided, as you know it too is key when factoring in demand, and projected flip timing. Assessing what your previous "cost to rehab" have been, as well as what it will be (pending your vision of each rehab = we will walk you through what will sell within a budget in each region) will be addressed, so that we can confirm how and where to meet your desired 20% return (is this net or gross?).
Being equally aware of not only your cost to rehab but factoring this into each purchase, projected days on market (time is money), and resulting cap gains, will enable us to work as your team, more so than simple an exchange agent (purchase and sale transaction based). Material sourcing that enables you to sustain salable quality while reducing your costs is something we provide as an added value = relationships we have developed with suppliers.
If the Fed steps as they have been eluding to we should see a shower of REO's cover the market through 2013 and 2014. Yes the competition will be on their toes to ascertain as many products as possible, but "creating a market" for your products makes all the difference in providing you with a successful sale (this is a core element of our broadcasting). How we "create a market" is something we will share more with you.
There aren't many obstacles that can not be overcome, but one that places California investors at bay for 15 days = opens a window for common buyers to have a chance at an REO purchase, is an "investor hold" period that is imposed on properties pending which note holder has the asset for sale.
A core platform within our company is analytics. With this since 2009 we have been specifically tracking selected regions as well as targeted sectors within specific cities with purpose of finding both signs of and resulting proof of sustained growth in demand. The positive is that sustained demand is found in every price point, it simply differs from city to city where and of which price points the city is supporting. For example, the $150k - $250k market between Huntington Beach to Dana Point has proven demand (although with low quality inventory buyers are at slim with options = an opportunity for an investor to provide the products in demand once located). $675 - $725k, and within the HB to DP sectors the demand has not proved substantial; yet step into Irvine, Tustin, and certain areas of Aliso Viejo and Ladara Ranch, and the demand becomes more secure. Point is that every region + neighborhood needs to be tracked on an individual basis to assure capital outlay is placed in a vehicle that will provide you with the most security of return.
In closing, have you been utilizing 1031?
Enjoy your weekend,
949.891.7331 / 714.943.2084
Investor, REO and Short Sale Certified Credentials and NABPOP BPO Broker Price Opinion Certification is a strong combination for an agent to qualify to earn your trust.
In your price range - Investor competition is fierce so a 15% return may prove to be more realistic.
The California Gold Rush is still on - so come join us.
Protecting Your Best Interest,
Agent Mary Lou
Together, we can make it happen.
Agent Mary Lou is a â€œCertified Property Valuatorâ€
which Banks, Asset Managers, Sellers and Buyers rely on.
Mary Lou Skowronski CA Lic#: 01398486
949-355-6169 Cell/Text Prudential California Realty: 949-219-2476
Investor, Short Sale and REO Certified.
Thank you for your referrals!
We were in the fix and flip biz when this whole RE slide started in '08 until it became so competitive that flippers/investors started making multiple offers on distressed properties which only served to push the purchase price up, the ROI down and take the DOM from 60 to 90 days out to 6 months or more in many cases.
We're a family owned and operated turnkey RE broker, general contractor, architectural, engineering, interior design and landscaping company with over 100 years of collective SoCal experience in real estate, development, construction, property management and investment.
Please feel free to log onto any of our very user friendly websites: