Hi All,I just graduated from UC Santa Barbara last summer and have been working at Oracle in San Francisco for the last year.  

So I have a gentleman who is a friend of mine looking for a 50% cash out of properties he owns in Santa Barbara.

I work for Brown and Associates Law and Title in Tampa and Barbara Brown is an amazing investor friendly real estate attorney and title company.

My contractors and laborers can buy nice places live in the $100-200K range and rents are affordable as well.Contrast that were I live: I live in one of the cheapest parts of Santa Barbara, in an old working class section, with mostly very small houses, where the 2BDR fixer is down to $650K, with the worst school in the district.

The property I am interested in is thishttp://www.auction.com/California/residential-auction-asset/1307226-2910-1000-VIA-REGINA-SANTA-BARBARA-CA-93111-E329Regarding your question I do have around 50-60% of the purchase price available in cash.

She is also in Santa Barbara.

Welcome home to BP :> It's the best investor spot on the web.I'm in Santa Barbara area and have been branching out into other states.

I've heard of similar situations but usually it was before the foreclosure.I just got a call from a woman who owns other props but this one mil$$$ Santa Barbara prop was lost to bank when husband lost job.

It is pending already again 24 hrs after falling out of escrow when the investors tried to get weasley with the bank.In some parts of the country this would be laffed at but near Santa Barbara everything is basically gold.I am working to stay focused on learning the l/o biz inside out and not be bouncing all over the place.

Real estate values here in Santa Barbara county California will NEVER go down.