Conventional Options

[Ashley Garcia]

Everyone seems to be talking about creative real estate investing. However, I recently qualified for 350k in San Diego. Since most nice homes (in good neighborhoods) are well above this price, I am deciding if investing with the conventional loan would be the best option. Anyone have any ideas or can give any advice on what to do with a conventional loan? Am I limited to the mls?

[Dan H.]

Many of the significantly below market properties bought in San Diego do not qualify for conventional financing but there are some that do qualify for conventional financing. Finding those that do qualify for conventional financing and are significantly below market will be challenging, but not impossible. To increase your odds of finding such a property you will not want to limit yourself to only the MLS. You can try driving for properties, direct marketing, auctions, as well as MLS.

Good luck.