There are quite a few bank owned properties (REO's) that need a bit of work done. For example, owners started to do upgrades, ran out of money, and lost the home.
Most investors here in Crescent City, Del Norte County California buy low priced properties and fix them up themselves, then turn them into rentals. One particular client of mine only buys multi-unit properties but those don't come on the market much now.
But there are great buys in single family homes under $100,000 and sometimes quite a bit under that. These are properties that need
CASH TO CLOSE.
There's one for sale right now that looks very promising:
- 3 bedrooms, 1 bathroom
- 1974 square feet
- on .33 acres
- built in 1974
- renovations were started but not finished
This property started out at $102,900
NOW FOR SALE AT $87,900
And I would try to negotiate an even lower price!!!
This is NOT my listing, so I would be your buyer's agent.
Call me, I have a feeling this property won't be long on the market.
MLS 1364548 - 240 Cooper - Courtesy Remax