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I guess I should have added additional information.

- Putting 20% down
- Planning to rent it out (will be negative about $200 a month)
- I'm hoping for long term appreciation
- It's not a fixer upper. It's 15 yrs old and well kept.

Scenario - Orange County Condo selling for $340k. Worth probably $380k-$400k
Short sale.
Motivated seller
VERY desirable neighborhood

How much in percentage do you normally offer?
Like 5% lower? 10%?

Does $315k sound reasonable in the time of market we are in? This is my first purchase ever. I'm just a little nervous and I want to price myself right.

What are your opinions on renovation of apartments to condos?

Basically, gutting out the entire thing and upgrading it all. They tend to sell it way less than a typical condo.

Do you think renovations such as these can have potential growth? Or is it because it's old and now new..it may not have much growth potential.

I don't understand why they sell it for significantly less than other places in that same area.

Are there any locations in the west coast that gives you positive cash flow in renting? Sometimes I just feel like it's not even at all possible. =\

My main goal - investment!

And I've been doing research for over 1.5 yrs now! I still cannot make up my mind!

I need a mentor..how do I get one of those? hehe

So I'm a first time wannabe investor...I have been saving my entire life to start investing in a home and yet I can't do it because I have way too many choices!

I can either...
- Buy a condo (vegas, LA, OC, or out of state)
Then either live in it, rent it out, or both!
or
- Buy a house with my mom but would have to move way farther for work since it would be cheaper

I am confused and I have no idea what to do!! I also have a fear I'll invest at the wrong time or with the wrong property or with the wrong location! Just so much to think about. How do I figure out what I should do when I have been feeling lost for over a year now!

How's the renting situation in Vegas? Is it really hard finding people ot rent out your condo or house in Vegas?

Anyone have any insights to this?

Here in Southern California you can totally negotiate. I went to a few new developments in the Inland Empire recently and basically negotiated $50k in savings!

Many offered 2 years free HOA as an incentive. Also, some free upgrades and appliances and not to mention the price itself. They need people to buy.

Also ask if any properties might be falling out of sale soon. Many people buy but then suddenly drop out of the purchase and that's where you can come in and buy it cheaper and with possible all the upgrades already in tact.

Hey Everyone!

Just surf'n the web and found this place. I am here to read up and see what's it all about.

I'm a Consultant who was born and raised here in Southern California.
I am very new to real estate. I'm in my late 20s and I feel that I have saved quite a lot for my age and I am ready to invest. I have been saving my whole life to buy my dream home! But for now, I'm looking to invest. =)

I'm not sure if I should find a foreclosure, flip, purchase and rent out, or even buy out of state. California is just crazy with prices and I honestly don't know what to do. I don't know where to start. I've been reading tons of books like Rich Dad Poor Dad, Foreclosure for Dummies, etc. And I'm still clueless on what I should do. I need helpful advice from those with Southern California investment experience!

So I'm welcome to any advice you all may have. =) :D