CA Wholesale Blog

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Nice Compton Home - Fix-And-Flip Or Hold…

The bank’s had enough of the credit crunch…

Watch this short movie to walk you through this great first-time buyer or investment home in Compton. It needs minor cosmetics, and there are several creative additions. One of the bathrooms seems to have been added (probably unpermitted), and there is an extra “bedroom” with private access that was created from a covered porch. Don’t miss the “outhouse”!

Watch the Walk-Through Video here:

E El Segundo Blvd
Compton, CA 90222
3 bedrooms, 1 bath, 956 Square feet (Actual: 3 bed, 2 bath - plus the “outhouse”)

ARV: $237,000
Sold comps in the area are almost exclusively “foreclosure resale” transactions. By and large these are bank owned properties in bad shape. The key to prosperous investing in this market is to rehab a good product and sell it at an affordable price that allows for a reasonable profit. - Or hold on to it and rent it out for the big payday and wealth building strategy.

Our cash price: Only $109,900 (includes assignments)
Repairs: $16,500 (paint, carpet, minor repairs, cleanup, appliances)

Call now to lock in this great property: 626-921-5881

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Spacious 3 bedroom Home - Great Investment Or Fix-And-Flip

This home fell out of escorw and the bank is ready to “dump” it…

Watch this short movie to walk you through this great first-time buyer or investment home in South Central Los Angeles. Looking at them will give you a pretty good idea of what it needs. This home needs only very minor cosmetics! - Already has new carpet and updated windows. Some minor cleanup and paint gets thsi rent ready.

Watch the Walk-Through Video here:

E 98th St
Los Angeles, CA 90002
3 bedrooms, 1 bath, 1325 Square feet

ARV: $297,000

Our cash price: Only $179,900 (includes assignments)
Repairs: $10,000 (finish interior paint, minor repairs, wall heater, appliances, has new carpet and windows already)

Call now to lock in this great property: 626-921-5881

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Cute Spanish Style Home - Great Investment

This adorable Spanish-Style home is in the “County Strip” (no rent control!) It’s located on a very attractive street in Vermont Knolls, South of Manchester, East of Normandie. We’ve put a short movie together to walk you through this great first-time buyer or investment home in South Central Los Angeles. Looking at them will give you a pretty good idea of what it needs. Aside from a small roof problem, this home needs only minor cosmetics!

Watch the Walk-Through Video here:

E 93rd St
Los Angeles, CA 90044
2 bedrooms, 1 bath, 730 Square feet

ARV: $239,000

Our cash price: Only $109,900 (includes assignments)
Repairs: $10,000 (including roof repair, carpet, paint, minor repairs)

Call now to lock in this great property: 626-921-5881

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Large 2-story, 4 bedroom, 3 baths - Great Investment

We’ve put two short movies together to walk you through this great 2-story home in SOuth Central Los Angeles. Looking at them will give you a pretty good idea of what it needs. It was built in 1997, so you know it has “good bones” even though the cosmetics needed are making it look ugly now. But hey, that’s what you need to buy to make money in this market, and this one has great potential!

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Banks are more and more controlling the foreclosure real estate market by slashing prices to move their inventory. According to Dataquick (http://dsnews.com), over 43% of all Southern California home sales were “foreclosure resale” transactions:

“Foreclosure resales continue to be a dominant factor in today’s Southern California market, accounting for 43.6 percent of all resales. That was up from a revised 41.8 percent in June, and up from 7.9 percent in July 2007. Foreclosure resales — where a foreclosure had occurred at some point in the prior 12 months — ranged from 22.2 percent of all resales in Orange County last month to 64.4 percent in Riverside County.”

These “foreclosure resale” transactions are considered distressed sales, and if you see an over-proportionate amount of them in a certain area, it drags down the “median home price” and the “comps” below “fair market value”. If you can purchase a bargain property AT or even BELOW these price levels, you’re getting an excellent deal!

We’ve seen deals from our bank-owned sources that you could get for 30-50% BELOW “foreclosure resale” comps (click here for a sample)! Some of these properties are still available, even in the San Fernando Valley.

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Another Great Investment Home: Buy-And-Hold…

Established neighborhoods close to centers of business in safe areas.

That’s the ticket to successful buy-and-hold investing in this market! This is another solid rental home in a nice and established neighborhood that needs a little TLC to make ready and move in your tenant (BTW: We have a bunch of lease/options buyers in that area ready to go!)

Or sell it outright to a first-time buyer.

Hambledon Ave, La Puente, CA 91744
3 bedrooms, 2 baths, 1,152 sf 6,100 sf lot

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Investment home in Established Neighborhood!

All real estate is local. How would you like to pick up a property at about $120,000 below it’s current market value that only needs minor cosmetic repairs?

This property fits the bill! It’s a solid rental home in a nice and established neighborhood that needs a little TLC to make ready and move in your tenant (BTW: We have a bunch of lease/options buyers in that area ready to go!)

Or sell it outright to a first-time buyer.

Halray Ave, Whittier, CA 90606
3 bedrooms, 2 baths, 1,444 sf 5,600 sf lot

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Invest in Kentucky!

If you’re looking to diversify your investment portfolio, this is a great bargain on a rental home with equity or fix-and-flip.

That’s where this property comes in. It’s a solid rental house that needs a little bit of work to make ready and hand it off to your property manager…

Or sell it to a first-time buyer. We can help you with any repair and management if you’re out of the area.

105 Maple Ln, Elizabethtown, KY 42701 (map)
3 bedroom, 2 baths, 1200 sf

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More, Better Deals From the Banks

Here is yet another deal that could be a perfect addition to your rental portfolio, or fix it and flip it to a first-time or move-up buyer.

This 3 bedroom, 2 bath home of 1,444 sf is in a good and established neighborhood in Whittier, CA. When you check the sold comps, you will notice that most of them are NOT “foreclosure resales”!

What does that mean? I’m so glad you asked! It means that this area is more stable and not dominated by banks slashing prices on foreclosures.

Let me add to that argument. What about the foreclosure pipeline? How many homes are going into foreclosure in this neighborhood? - You may be surprised: Over the past months new filings of NOD are up to about 4 times the level of 2006.

BUT - in 2006 there were only about 2 new NOD filings per month in the 90606 zip code. So, 4 times that is only 6 to 8 per month right now. Not really a big deal - that’s why it’s called an “established neighborhood” that looks like it will hold on to its value a bit better.

BTW: If you want to take a look at all active foreclosures in the area for yourself, just scroll down to the bottom of this article, and click the link to Free Foreclosure Search…

OK, here is a picture:

Halray Ave, Whittier, CA 90606
3 bedrooms, 2 baths, 1,444 sf 5,600 sf lot

I will post more pictures and a repair estimate later today.

Let’s run some numbers:

ARV (sold comps): $389,000
Assessed value: $581,000
Last sale: $500,000 (8/05)

Our price: $249,000 (64% of ARV, $75,000 below listing)

Act now, this one will be gone very quickly!

Email: tom.b@CaWholesaleDeals.com

Free Foreclosure Search - Click here!

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This is a continuation from this post (click if you have not read that one yet)!

Property #2:

Twining Ave, San Diego, CA 92154
3 bedroom, 2 bath, 1180 sf

Kitchen:

Living Room:

As you can tell, this one needs some minor make-ready work before you can move in tenants, but hey, these are prices like TX, with higher rents and more desirable location in Southeast San Diego!

Your wholesale numbers:

Sold Comps (mostly REO foreclosure resales in bad condition): $250,000
ARV (quick sale): $275,000
Assessed Value: $475,000
Your price: $197,000 (includes our fee and all commissions)
Make-ready: $7,000

Check your numbers and hurry - this is a huge discount! Don’t let it pass you by. Email: tom.b@CaWholesaleDeals.com