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!

Read the rest of this entry »

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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As the banks want to get their house in order, they take huge discounts now to move their investory off the books. That spells opportunity for you - the savvy investor with cash (or cash partners) who is ready to buy now that real estate is on sale…

Bottom line discounts in place

What does this mean for you? These properties are available, ready to go as rental or for resale. All you need to do is change the carpet or do some extremely minor make-ready work on both of these, move in your tenants - done.

Does it matter where you are located? No! We can help with make-ready crews and property management so this can be a completely hands-off investment for you.

Here are the properties

Property #1:

Woodman St, San Diego, CA 92114
2 bedrooms, 1 bath 1235 sf

Kitchen:

Dining Room:

You get the idea - this home is turnkey and rent-ready!

The numbers:

REO - “foreclosure resale” comps: #215,000
Quick sale ARV: $225,000
Our price: $159,000 ($40,000 below listing!)

No work needed, just move in your tenant.

This deal can be financed! Email tom.b@CaWholesaleDeals.com ASAP!

==> Click here to continue to read about the second property! <==

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

Look at the movie to walk you through this home. It needs major cleanup, but it was built in 1997 and has great potential!

Watch Part 1 - The Main House (scroll down for Part 2!):

E 110th St
Los Angeles, CA 90059

Assessed value: $419,000
Last sold: $450,000 (11/17/06)

Our cash price: Only $169,000 (includes assignments)
Repairs: $25,000
Quick sale value in good condition: $298,000 (there have been several recent sales near $400,000)

Email now to lock in this great property: tom.b@CaWholesaleDeals.com

Part 2 : Back lot and Units:

Are you ready to steal from the banks?

This is literally a case of “legal” bank-robbery in the 21st century…

We have negotiated two incredible steals for wealth-buidling investors that are NOT IN THE MLS!

The first one is a 2 bedroom, 1 bath house on Prospect Ave in the 90270 zip code which is Mayflower.

The bank foreclosed in April for a nominal price of $360,000. The most recent sold comparables are in the $300,000 range for an REO property in poor condition.

Our cash price is only $237,000 (including all assignment fees)!

Call me at 626-232-6773 to lock it in NOW!

The second home is on Bell Ave in Bell (90201). Also a 2 bedroom, 1 bath home. This one sold for $450,000 in 2006. Bank took it back for $376,000 in 2007. Recent comparable sales are in the $300,000 range as well (again for mostly bank owned homes in bad shape…)

Steal this home for only $235,000! Call 626-232-6773…

Wow, what a great REO opportunity!

This gorgeous home was built in 2007 and sold new for $680,000… It was purchased as an investment and occupied by a Lease/Option tenant. Fast forward only 15 months later: The tenant is still living in the home, but now the bank owns the property. After taking it back at the reduced opening bid of $441,600 we have negotiated with the bank.

The result: They will take $350,000 or even less than that if a qualified buyer or cash buyer can close quickly!

And the best part: The lease/option tenant still loves the house and would be happy to stay at $2,900/month or even more! Absolutely no repairs, huge equity position, cash out with the L/O buyer once the market recovers. This is a no-brainer deal for cash or credit investors! Let’s do it!

Email tom.b@CaWholesaleDeals.com or call 626-232-6773 for details!

Search here for more Foreclosure Bargains in Your Area - it’s FREE!

Hardly a day goes by without people asking me the question: “How can I do what you do? - Can you teach me how to be successful investing in foreclosures and wholesale properties?”

Often this question is followed by the remark: “…and by the way my credit is poor and I don’t have any money.”

OK, so I’ve been reluctant to do this because I’m working on deals every day (I have hardly enough time to keep up this blog, let alone teach people what I do…). But now it’s time to lift the curtain.

One of the biggest thing about investing in foreclosures is marketing. You have to attract motivated sellers to call you on a continued basis. And not only that, unless you want to buy foreclosures to keep as rentals for yourself, you also have to attract BUYERS to whom you can wholesale your foreclosure properties.

On Friday, June 13th at 12PM EST we will open the doors for a very time-limited, extremely affordable release of our new “Pre-Foreclosure Secrets System”, and I need you to send me any questions that you have about pre-foreclosure investing.

Please go over to the pre-launch page (click here), and type in your foreclosure question there…