All Forum Posts by: Kristal Greenhaw

I'm looking at a single family house in SoCal that is listed on the MLS as a short sale for $700k. It just recently dropped in price from $745k. It has been on the market for 200 days or so. How low of an offer is appropriate for this type of sale? I know that Short Sales can take months to close, what are other problems with short sale deals? Any help will be appreciated.

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Originally posted by @Traver Freeman:

No, but I'd like to. Just can't afford to. Unless you can put up a large down payment, you'll be hard pressed to even get the 1% rule, let alone 2%. I've been looking at multi families for about 6 months and I can't find anything that will cash flow if I live in one unit and I can't afford to put 20% down for me NOT to live in one unit.

So if you're in a similar scenario as me, the options are rather limited. But you might be able to find something a few hours away if you look hard enough.

What is the 1% and the 2% rule? I'm still learning about investing. Thanks.

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Hello,

I'm a newbie in the real estate market and want to learn! I just recently moved from Seattle to San Diego. I am interested in flipping properties in Southern California, Seattle area, and possibly Las Vegas and Phoenix areas. I want to learn more about how to find foreclosed properties and how to find financing. I am also interested in land development as I am a Civil Engineer.

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All Forum Posts by: Kristal Greenhaw

Kristal Greenhaw has started 2 posts and replied 3 times.

Post: Lowest offer for $700k short sale in California

Post: Buying a multifamily in socal anyone?

Post: New member from San Diego