Let me know if you need a purchase loan for the property or want to get pre-approved (this will increase the chances of your loan being accepted) because I can certainly help you out there. You can call me at 408-352-5147 or email me at AGreer@themortgageoutlet.com. You can check us out at http://www.TheMortgageOutlet.com. I will look at your situation and present you with some options.
I would be happy to assist with finding fixers in Laguna Beach or Laguna Niguel. I am currently showing approximately 18 properties in the area that would be considered "fixers".
Please contact me as your earliest convenience, and I would love to assist you with your search.
Nicole Fedorchek, Realtor
They are out there. I just helped a client purchase a rental property in Huntington Beach, and he plans to do extensive work to it and improve his investment potential. He was in the hunt for some time and did exhaustive research, but he made it work and I'm sure you can as well.
Let me know if you have any questions about financing such a property, either as a primary or rental home.