I am told by one of my investment club members that this is a deal. Can you please advise? $285K 15431 Giordano St., La Puente, CA. 91744

Asked by Scott Hoffman, Newport Beach, CA Fri Jul 5, 2013

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Scott Hoffman, Both Buyer And Seller, Newport Beach, CA
Wed Jul 10, 2013
After a little due dilligence, the comps in the area (top of the market) 260K. The cash price to purchase is 305K. The house needs 40K-45K in repair costs. Add closing and carrying costs of another 19K, and the supposed deal is no longer a deal.
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Barbara Gran…, Agent, Anaheim, CA
Fri Jul 5, 2013
Apparently, it was. It's a short sale that was only on the market one day and is currently listed as a pending sale.

Remember, many short sales are aggressively priced and getting the lender(s) to agree to the sales price is another story. Keep an eye on it to see what the final sales price is.
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