You will probably have the best luck checking with a buyer's agent. You might be able to find some condos that aren't up for bids by yourself, but you'll probably have a better time with an agent. The reason is because sellers will often work with associations of buyer's agents and will advertise their properties only to those agents. It helps them in the screen process and it gives them a better visibility by people who might actually buy the property. I would start there and see what you can find. http://www.ahwatukeebrian.com/ahwatukee-condos/... more
I am surprised no one has offered this option, if viable to your social & economic situation.
You could sell and then buy in a location that is in less demand than Montebello. For example, buy in Riverside County or San Bernardino County where a condo can be purchased for under $100K.
You could have after sale proceeds that could pad your savings. Even after taxes are paid and after the purchase of your replacement condo or home.
If you would like specifics on the valuation of your condo, closing costs and your net proceeds from the sale.... feel free to contact me at 626-780-8483. I am the listing agent on the 10th St. Montebello property. I grew up nearby.... more
Michael,an investment loan will require at least 20% down. You will need a 2 yr. work history good credit & a steady income. The government programs that are out there are mainly geared toward first time homebuyers & helping people in trouble hold on to their homes. your plans sound good,but you will need to start saving & building up your credit for the future. In the meanwhile,educating yourself about the ins & outs of this is a great idea. If you scout around,you can probably find a lot of good info online without having to pay for it.