CRR Blog

A Tale of Two Foreclosures

On Tuesday a 6BR/2BA Home on 49th St in Los Angeles sold at auction for $226,000. It was valued at $355,718.

Today a $BR/3BA Home on Bermuda Ave in Westminster sold for $620,285.  With a Pool , two stories of room and a cul de sac location, it was valued at $726,235.

Look for more examples of deals like this every week day....


It may be cold back east... But here the deals are HOT!!!

We told you that a slow December would happen, but also that the numbers would jump up again.  So yes, it is cold as ice in the Midwest, but we are seeing a warming trend at the Trustee's Sales in Sunny California.  Many postponements from the last month are heading to sale.  More importantly, lenders are cashing in on the increase in values in the marketplace.  They are taking properties to sale that have EQUITY!!!   So while we still encourage you to expect drop bids as properties go to sale, we also can't stress enough the importance of the properties that have equity that are coming up.  In the past, people with equity would refinance.  Today these people are unable to borrow because they have ruined their credit.  So they can either sell their homes or let the bank sell them at auction.  Here are a couple of purchases from today's sales.

A 2BR/2BA Home on Garfield Ave. in Southgate sold today for $232,000.00.   The Estimated Value of the property is $329,141.00.  That is a 30% discount for cash at the auction.  Not bad for a day's work...

A 4BR/3BA Home on Eldridge Ave. in Sylmar sold today for $348,000.00.  The Estimated Value of the property is $430,099.00.  That is plenty of equity for a QUICK FLIP.  It is also a respectable discount if you plan to buy and hold it as a rental. 

Itis winter in the East, but here it is raining Deals!!!

The deals are on the upswing.  Now that the holidays are over it is time to make things happen!  Look at these two properties in Orange County going to sale tomorrow!

A 3BR/2BA Home with a HUGE Swimming Pool on Stingray Lane in Huntington Beach goes to sale for $353,111.00.  Estimated Value is $613,193.00.  This property should be listed for sale.  The owner has been fighting foreclosure for SIX YEARS!!!  It is a rental property with a boatload of equity.  Maybe the bank will sell it. Are you ready?

A 3BR/2BA Home on E Francis Ave in La Habra opens at $310,899.00.  Estimated Value is $486,350.00.  Again, why someone hasn't been able to buy this with a simple offer is beyond me.  But if the owner is not reasonable, the auction may be your Golden Ticket.  Don't hesitate.

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Find your target properties for investment today!

1BR/2.5BA CONDO on City Place Dr in Santa Ana sold today for $365,000.  Est Value is $462,519

3BR/1BA Home on W Amerige in Fullerton sold today for $394,000. Est Value: $543,384

2BR/1BA Home on Main St in Orange sold today for $390,100. Est Value: $715,542

Are you Honoring your New Year's Resolution?

We all make a resolution of sorts at the end of one year and the beginning of the next.  Perhaps you just said, "Next Year will be Better!" or maybe you said, "I will make Great Things Happen!"  We encouraged you to set your sites on improving you family's financial situation, because from there everything else follows.  You can be creating monthly income or you can be buying and flipping to get lump sums as you go.  The challenge is to get outside your comfort zone and get out there and do something.  Don't just read books about success.  You have to apply yourself in an area where there is money to be made.  Foreclosures are the perfect vehicle for you.  Look at what other people just did today!

A 4BR/3BA Home with a Swimming Pool on High Ridge Drive in Santa Clarita sold for just $435,500.00.  The estimated value of the property is $548,283.00.  This deal is easily a flip on a very nice home for a family.  This could also be a rental, but as there is only one living space, most of our clients would buy this for a flip.

A 4BR/2BA Home on Orange Drive in Yorba Linda sold for $510,000.00.  The estimated value is $666,330.00.  This is an excellent example of a house that you can turn over quickly and easily.  The new owner may already be taking offers.

In both examples above the lender is the loser and the new owner is the winner.  It is exactly this way that you can take advantage of the lender's losses and make yourself a cash haul that you can use to buy income property later.  So just make a plan and start making deals to get you to you first goal.  You can only get there if you start!

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