Home Buying in Los Angeles>Question Details

JONATHAN AZAL, Real Estate Pro in Los Angeles, CA

Does any know where to find good real estate forclosures or deals in real estate in the san fernando Valley. Thank in advance!!!

Asked by JONATHAN AZAL, Los Angeles, CA Fri Jul 8, 2011

We are investors looking to buy real estate mainly land deals in the san fernando valley.

Thanks!!!

Help the community by answering this question:

Answers

14
Hi Jonazal,

So many people are confused on the subject of 'foreclosures.' The term itself is so misunderstood by consumers that it has no meaning at best and is misinformation at worst. The only true 'forclosures' available for sale are court sales which require both informed expertise and a lot of cash on hand to do successfully. These are the only true 'foreclosure' sales and they are not listed on the MLS for the most part.

All other 'forclosure' sales like bank owned properties (REO's,) short-sales, and NOD's are 'distressed' properties, not foreclosures, and almost all of them are listed on the MLS along with every other property for sale.

The only real difference in the sales price of these properties is that the banks and owner's under pressure are probably more likely to agree to a sale at the lower end of market values than more secure owners.

There are no regular sources for secret or hard to find deals out there and everything that's availabe for sale is already online for you to see. Get yourself an agent so you can start shopping seriously and maybe you'll get lucky and get that great deal from a regular seller which can make closing a lot easier.

One more thing without going into too much detail, take a look at multi-units in San Pedro and Long Beach for what may be the best deals available on income properties in Southern California.

Best of Luck.
0 votes Thank Flag Link Sat Jul 16, 2011
There are a lot of sites you can pay for or scour Craigslist for hours, only to run into stand alone sites that will ask you for your contact information before you can access the information. The best and most current information will come from agents who work REO properties. We work with REOs all over the city, as many of REO agents do since we do not know where the next assignment is coming from. You can Google REO Agents Los Angeles and/or log onto ActiveRain.com and reach out to agents whom specialize in this area.
Also feel free to connect with me for possible listings at renee@bestLAliving.com

Best,


Renee' Kische
Keller Williams Realty-Hollywood Hills
323.377.7976
0 votes Thank Flag Link Mon Jul 11, 2011
Dear Jonazal,
Yes! We know where they are, but in order to get good and up to date information you must commit to working with an Agent who knows the area you want to purchase in. My advice is to start to interview agents and be willing to provide financials and sign contracts to get the help you need.
0 votes Thank Flag Link Mon Jul 11, 2011
Hi Jonazai:

Yes...all you need to do is find the right real estate agent who specializes in foreclosures in the area you are looking! They will be able to help you find, submit offers, and close the deals for you!

Good luck!

Kat Becker, Agent
Prudential California Realty
katbecker@prula.com
0 votes Thank Flag Link Sat Jul 9, 2011
Although one might be able to acquire some good deals via foreclosure auctions, they aren't always the best place to pick up deals. Keep in mind that you'd be competing against various institutional buyers (who tend to drive the prices up).

I'm also an investor. I tend to prefer to get my deals via other sources--besides foreclosures. You might want to network with some other investors who are also buying what you're buying. You might want to also consider using various note acquisition strategies to ultimately acquire the land.
0 votes Thank Flag Link Fri Jul 8, 2011
Thank you all for the great input. Michael I tried that number but I think you made a mistake in one of the digits because they said I called the wrong number.

Jonathan, thanks for the answer. what is the list that you use is it just a list of court dates and the properties? Maybe you could help me find some good deals.
0 votes Thank Flag Link Fri Jul 8, 2011
If you have the cash or financing already set up (Hard Money, or otherwise), the best place is at the court room steps.

To get some prior knowledge of what may be coming up, pay for a list from a title company of upcoming properties to auction (I have a list sent to me daily so my clients can snatch up the best deals).

for foreclosure already bank owned properties, your best bet is a Realtor that specializes in defaulted properties.
Be forewarned, just because something is foreclosed does not mean it is a "deal"

The deal is the deal. and that is what you and your real estate professional should be looking to get first and foremost.
0 votes Thank Flag Link Fri Jul 8, 2011
Find a Coldwell Banker office in your area. They have access to all of them. Or you can call me and I will put you in touch with a top performer agent near you for free.
0 votes Thank Flag Link Fri Jul 8, 2011
If you are looking to buy land, you should look the City Tax Sales. Since land property are rarely bought with a loan (they are usually all cash deals), therefor they don't really ever go into foreclosure since there is rarely a loan on it. So the most frequent way a land can be bought at an auction, would be at a tax sale. These are property properties where the owner stopped paying the property tax and is being foreclosed on by the City. They can be pretty good deals as long as you research the property thoroughly in advance (any other liens, zoning, etc.) and you must be ready to pay cash. Good luck!
0 votes Thank Flag Link Fri Jul 8, 2011
Hello Jonazal,
I specialize in short sales and reo's here in Los Angeles and am highly experienced with properties and values in the Valley. I would suggest you work with an experienced agent familiar with the are you wish to invest in (me) as I will be able to guide you regarding "deals" Good luck and hope to hear from you.
Sincerely,
Richard "RJ" Kas (SFR, SRES)
"Representing the finest properties from Los Angeles worldwide"
KAS Properties - Coldwell Banker Previews International - Beverly Hills South
166 N. Canon Dr, Beverly Hills, CA 90210
310.859-5334 office - 310.488.9826 mobile - 310-273-0670 fax ATT: RJ
RichardKas@gmail.com - http://www.RJforLA.com - DRE: 01352771
Sellers Buyers Investors Leasing Consulting
0 votes Thank Flag Link Fri Jul 8, 2011
Hello Jonazal,
I specialize in short sales and reo's here in Los Angeles and am highly experienced with properties and values in the Valley. I would suggest you work with an experienced agent familiar with the are you wish to invest in (me) as I will be able to guide you regarding "deals" Good luck and hope to hear from you.
Sincerely,
Richard "RJ" Kas (SFR, SRES)
"Representing the finest properties from Los Angeles worldwide"
KAS Properties - Coldwell Banker Previews International - Beverly Hills South
166 N. Canon Dr, Beverly Hills, CA 90210
310.859-5334 office - 310.488.9826 mobile - 310-273-0670 fax ATT: RJ
RichardKas@gmail.com - http://www.RJforLA.com - DRE: 01352771
Sellers Buyers Investors Leasing Consulting
0 votes Thank Flag Link Fri Jul 8, 2011
Hello Jonazal,

I would contact an agent that I've worked with before, she does a lot of foreclosure/short sales. Her name is Angela Reneau and she is at 213-200-1771.

Michael Abram
First Capital Mortgage
NMLS #235060
Direct: (310) 434-1718
Fax: (310) 451-6407
mabram@firstcapitalmtg.com
0 votes Thank Flag Link Fri Jul 8, 2011
You want short sales! - contact these guys - http://www.Shortsaleapproval.net
0 votes Thank Flag Link Fri Jul 8, 2011
http://www.laforeclosurefinders.com/

This website may help you with your search. Best of luck!

Ben Perry
Maxim LLC Realtors
419-905-7362
0 votes Thank Flag Link Fri Jul 8, 2011
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer