Home Buying in San Diego>Question Details

Keri Cook, Real Estate Pro in San Diego County, CA

Does anyone have any fixer homes or distressed properties for sale? I have a very serious cash buyer looking for property in the San Diego area.

Asked by Keri Cook, San Diego County, CA Wed Oct 16, 2013

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Sounds like some San Diego folks don't read questions.

"I have a very serious cash buyer..." The response is: "Have you been pre-qualified yet?"

Others just offer odd advice: "There are probably 1,000+ other agents looking for the same thing you requested...We would recommend you start by searching for the properties you seek on the MLS." So you'll have success being the 1,001th agent? C'mon now!

Yes, from what I understand finding such properties in Southern California in general, and San Diego in particular, is very difficult. Still, I know some investors who are having some success. (Honestly, many though are looking elsewhere because it is so difficult.)

Some have a good network of wholesalers they rely on to find them deals. You can find wholesalers at your local real estate investment clubs. Also, anyone who posts a "We Buy Houses" bandit sign is a wholesaler. If you see those signs, call and say you're interested in buying.

Others do their own marketing. (And you, of course, could do the same marketing.) Generally, that means approaching people whose houses aren't listed on the MLS. (Unless you like to be 1 of 1,001!) That can involve postcards or letters to absentee owners. That can mean networking with probate lawyers. It can mean physically hanging out at the local courthouse on the days that landlord-tenant cases are tried. (Some landlords just get disgusted and are willing to sell quickly.) It can mean going down to the housing inspector's office and looking at lists of properties with code violations.

Those are just a few of the ways to find the properties. But the last thing you want to do is compete with 1,000 other agents.

Hope that helps.
1 vote Thank Flag Link Wed Oct 16, 2013
Hi Keri, we thought the question is pretty clear. On any investment property there is a front side/back side view. It all depends upon whether your buyer is putting money into the property to improve the sales price and strive to make a profit? Or they want a good deal and sell it as is? Our point was simple, 100's of agents in San Diego have all cash buyers looking for deals. We have found every way possible to purchase properties, it depends upon how much ingenuity you want to apply. Best of luck...
Flag Thu Oct 17, 2013
I read the question, if this post applies to me. What I was saying was if it was an investor looking to SELL on the back end, he should know what the profile of the buyer would be based on the property purchased... Best of luck...
Flag Wed Oct 16, 2013
You are awesome -- yes, I thought the same thing. They aren't reading my question but I know they were trying to help and so I appreciate that their hearts were in the same place. You, on the other hand, offered sound advice and made some good suggestions! And so I thank you!! nd, yes, I am obviously an agent, so if you find anything or have an escrow that doesn't close last minute on a short sale or fixer, please feel free to contact me because I do have people that do the substitution of buyer through escrow on those properties that almost closed!!
Thanks again for your help!
Flag Wed Oct 16, 2013
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
Contact
Have you been pre-qualified yet? One of the first steps in the home buying process is to get pre-approved. This is a key step because a pre-approval gives you an idea of how much you can afford. Also, offers from buyers with pre-approvals are taken much more seriously than offers without pre-approvals. I recommend you speak with a Southern California based lender like myself. I would be glad to speak with you to help you get the loan that you need! Good Luck! Brian Nguyen Sr. Mortgage Banker NMLS # 659743 Phone: 949.667.2887 brian.nguyen@nafinc.com
0 votes Thank Flag Link Fri Feb 14, 2014
Yes, how much is your price point? I have one in Point Loma coming on the market in December. You can contact me at 619-221-1696
0 votes Thank Flag Link Mon Oct 21, 2013
Anything just let me know! Thank you! Also, my number is 760-533-8111 or you can email me info at keri777@gmail.com
Flag Mon Oct 21, 2013
So do all of the rest of us. My buyer is only looking for a 10% profit on the upside. If you find anything that is a good deal but not a large enough profit margin for your buyer I would be happy to refer.

J.R. Thrasher
http://www.SanDiegoRealEstateVeterans.com
619-929-0105
0 votes Thank Flag Link Thu Oct 17, 2013
Thanks JR. I will do that!
Flag Fri Oct 18, 2013
Yes...not many left and depends on your cash buyer's price range of course:)
Thank you,
Robin Fournier, ABR
8588695110 cell/text
0 votes Thank Flag Link Wed Oct 16, 2013
Hi Keri,

As an agent, we would recommend you start by searching for the properties you seek on the MLS.

There are probably 1,000+ other agents looking for the same thing you requested.

Best of luck,

Mark & Kari Shea
Shea Real Estate
National Association of Realtors
CA BRE License 01713506
0 votes Thank Flag Link Wed Oct 16, 2013
http://www.youtube.com/watch?v=pTcCgbwOd6k This home is now under contract but accepting back-up offers
0 votes Thank Flag Link Wed Oct 16, 2013
I dont, but I can advise you on the saleability of the home on the back end if you need help with that... In other words, when a distressed property comes up and you are considering purchasing it, you are going to want a couple of things:

a) To profile the buyer, and know what loans would potentially apply to the property, and more importantly, where you would have potential pitfalls, and
b) You would probably want a lender to qualify your buyers to make sure that they actually qualify.

You probably know all of this, but I am here to help if I can... Best of luck finding a property!

Daniel Lehman
WJ Bradley Mortgage Capital
858-345-4725
daniel.lehman@wjbradley.com
0 votes Thank Flag Link Wed Oct 16, 2013
Keri,
What price point are you looking for?
Ryan
858-353-9182
Ryan@buysellsd.com
0 votes Thank Flag Link Wed Oct 16, 2013
Any! Anything that you have I can run by actually multiple buyers that I have ready to go!
Flag Wed Oct 16, 2013
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