Below is not section 8, let me know if you might be interested. You get the prop, you get the cash flow, you don't get any of the headaches.
3 bdrm, 2 bath- $82K
3 year lease 1100/month
Tenant has occupied for past ten years
Proof of all payments
Includes property management
Let me know if you might be interested. Good Luck!
Thanks from Chris "VegasChris" Gerhartz
Yes it is possible to purchase condos for cash at about $30-35k. Some communities are snapped up right away - others have dozens waiting for the right buyer. The problem for investors wanting to purchase more than 1 is that there is usually more than 1 owner. So, if you want to buy 5, you might have to deal with 5 owners, and each could be a different situation - 1 foreclosure, 2 short sales, 2 reg sales etc. Then again, you might have some repairs on the less expensive ones. But it is true, rentals are going fast in the $750-950 per month range, so this would be an excellent time to invest.
Take a look on my website at condos in the 89107 area - that's MLS area 401. Let me know if I can help.
Keller Williams the Marketplace 1
They're so cheap for several reasons, but mostly there is no financing so all condos in this price range so all of these are cash deals.
Second, you may be able to buy some 1 bedroom condos for $30,000 but 2 bedrooms are usually going for more. And my colleague is correct that you'll probably have to offer more to get one. This price range is very competitve and each property is generating multiple offers (10, 20 up to 80 sometimes).
If you want to purchase, you'll need to be prepared. I am working with about 6 buyers in this price range alone. Let me know if I can assist you.
Rosen & Company West
What you are seeing are starting bid prices; if you want to buy one you will most likely have to offer $20 to 30k above the asking price. It not a cake-walk. If you need help, give me a call.
Coldwell Banker Wardley