CA Wholesale Blog

Thomas Bartke here at GotForeclosure.com…

…we have new REO opportunities coming in for
the week. Starting out the parade is a duplex in
East Los Angeles at 43% of its 2006 selling price!

I cannot stress enough that the prices we are
seeing right now are a huge buying opportunity
that you don’t want to miss.

Banks want to get rid of the inventory, and you
can benefit from this chance for cash flow income
property in SoCal.

If you can buy multi-units for $230,000 that will
rent for $2,300 a month IN SOUTHERN CALIFORNIA -
that’s the biggest no-brainer I’ve seen in a long
time.

Southern California real estate at fire sale prices
is always a huge appreciation play. If you can make
it cash flow at the purchase price it doesn’t matter
if “the market” might go down any more. This is your
opportunity NOW. If you don’t take it someone else
will.

The address is 3061 Ganahl St, Los Angeles, 90063

Unit 1: 2 bedrooms, 1 bath

Unit 2: 1 bedroom, 1 bath

1900 sf total living space, 4800 sf lot.

Our price: $230,000 (OBO)

Last sale: 10/02/2006 $540,000

Act now: Call 626-232-6773 to put it together.

I’ll talk to you soon. - Have a great day!

Thomas Bartke
http://gotforeclosure.com

P.S.: Join the new real estate community at
The Property Channel: http://ThePropertyChannel.tv

It’s free to join, share pictures, videos,
listings, deals, and anything else that gets
you excited about real estate!
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Dear Visitor:

…hopefully you’ve had a swell Memorial Day.
We had a little cook-out with the family, and
I just finished giving my three sons buzz cuts.

Way to go for Memorial Day family fun!

OK, I’ve decided to give you a little insight
in my wholesale business today as I want to
talk to you about a very special piece of
real estate.

It’s so special, that I’ve been following up
and prodding the seller for more than a year
now - talk about persistence…

The property is a 2500 sf house on a 20,000 sf
lot in one of the best parts of Arcadia, CA. The
specific location is North of Foothill Blvd,
between Baldwin and Santa Anita: a multi-million
Dollar neighborhood.

Zillow has the value of this property at about
$1,270,000. Newer, 2-story homes in the immediate
area are going for around $2,500,000.

As I mentioned before, this is a fixer. It has been
vacant for a few years and needs updating, but there
is no major damage to the house.

Now, here is my question: What would you do with
this property, and how much would you pay for it?

And I don’t mean theory, what I mean is: If you
are interested in that kind of property AND in
a position to close the deal, how much are you
willing to pay?

This deal is about to happen and I’m really eexcited
about it, but frankly, I wouldn’t want to promise the
seller a price that I can’t close on with a buyer who
is ready to go.

So I thought, why not ask you first…

Now, I know, you couldn’t possibly commit to a deal
like this without knowing more details, and of course
you would have to verify the information that I give
you here.

But suppose for a minute that my numbers are good
and the property is as exciting as I say. What’s
the MOST you’d pay? (I know it’s easy to come up
with a number that anyone would pay, but I don’t
think the seller will go that low.)

Big secret: The key to closing great deals is to
make them win/win, otherwise someone else will, and
you’ll miss out again. BTW: It’s not neccessary to
pay ALL CASH for this. The condition of the property
would probably allow conventional financing…

So, why don’t you leave a comment to this blog post
right now and let me know at what price range you’d be
interested in this deal?

I’ll talk to you soon. - Have a great day!

Thomas Bartke

P.S.: Join the new real estate community at
The Property Channel: http://ThePropertyChannel.tv

It’s free to join, share pictures, videos,
listings, deals, and anything else that gets
you excited about real estate!

P.P.S.: If you’re not on our wholesale mailing list yet,
click here to sign up and get wholesale deals delivered
directly to your inbox…

…it’s good to be back in our home (and my home office…), after being evacuated due to the fires near Sierra Madre and Arcadia! (Tanker Drop)

I have a few things to catch up on AND also wanted to let you know about several new wholesale deals in our pipeline.

#1. REO Deals: As you know by now, these are usually extremely good deals that don’t last (sometimes not even long enough to upload pictures to the web site…) Currently we have pre-negotiated deals availale on 99th St, 100th St, and two duplexes on 112th St. They are all EXTREMELY cheap, and our mark-up is very small because we’re focussing on volume. So there is a lot of money to be made - left on the table for YOU!

#2. Short Sales: We’re seeing some great deals coming through right now. A nice, newer home in Fontana, North of the 210, that was last sold for $465,000: It appraises now for $350,000. It’s available for owner occupied buyers or landlord investors for only $249,000 (net). Financing and down payment assistance are available.I also have an in-road to a Quadruplex in Long Beach. It is rented for $4,400/mo. The bank wants $510,000 (plus fees, commissions and assignment). A great multi-family deal to buy-and-hold, if that’s what you’re looking to do. The previous investor paid $735,000 for it (oops)…