Creative Primary Residence Purchase Options - in SoCal

[Jake Grenier]

Hello!  My fiance and I are looking to purchase a primary residence in Orange County, CA, where it is very expensive!  We love the area and aren't considering anywhere else, so we're looking for ways to get the absolute best value, and lower our monthly mortgage/tax/insurance payment.  Here is a list of things to know about our situation: 

- We have adequate funds for a down payment and other costs like renovations, closing, loan, etc. - max of $300k

- We don't want to pay any more than a $2.8k monthly mortgage/tax/insurance bill

- We don't want to rent out rooms in a house, as we're starting a family soon

We're looking for creative ways to get a great deal on either a low price home that needs work, or a duplex/triplex that needs some cosmetic touch up. I think we have the funds to avoid mortgage insurance and increase equity, but we're also looking to buy under market value to improve our long term bottom line.  We're considering hard money lenders for all cash offers, 203k rehab loan, using a wholesaler, etc. for the financing.  So any information or things to look out for that you guys have for that type of process would be greatly appreciated!

Then I'm also considering making postcards to put in mailboxes of home's we like, so looking for other ideas like that to help us find a great deal (and good property) under market value.  

Thanks if advance for your help and ideas!