If you don't mind some elbow grease, I suggest a REO or Short Sale and you may the repairs. They are still here, but you need to act fast, because it is looks like a deal, smells like a deal then it will be gone within 72 hours or less on the market.
Nancy S Bergman
Realtor - Lyon Short Sale Certified
DRE # 01893550
Lyon RE Downtown
2801 J Street
Sacramento, CA 95816
I think it's great you are looking to purchase an investment property. Since you are looking to purchase an investment home, you will need to put down 20%. In this scenario, you are looking at a purchase price of $125,000. This will keep your payment around where you want it to be.
Inventory is low and prices are going up, so you have to act fast. In this price range, it can be quite challenging. Most of these homes will need some sort of work. So you will have to be prepared for that as well. Anywhere from paint, flooring, appliances and/or exterior maintenance.
I suggest you talk to a lender to get pre-qualified first if you haven't already. Next, choose a Realtor to work with then make a trip out here to take a look at some properties. Maybe write down some questions to ask your agent as well. The cash flow is there, you just have to move quickly.
If you have any further questions or would like my help, feel free to contact me anytime.
Lyon Real Estate
I feel you have realistic expectations for today's market and with some dedication and patience we will serve your Real Estate needs.
You can send a private message here or to eddie@Bhrparkplace.com to set up some time together.