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Old 02-22-2009, 12:46 AM
 
7 posts, read 18,906 times
Reputation: 14

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We are Australian's looking to buy some condo's (foreclosures) in California or even Nevada.

Where are the best places to buy (high rental area - low crime area). We are after really cheap homes though. It was on the Australian NEWS (TV) that Australian's were buying homes for just $20,000 in USA.

IN brisbane Australia we have been experiencing almost a 15 year housing boom and houses and units/condo's start at $500,000 plus unless we go right out of the suburbs where they start at $350,000 plus.

At the moment heaps of Australian's are buying up in USA (foreclosures) and I would like to give this a go as well. Is there anything out there that can help Australian's to buy and rent homes in the USA. This must be a plus for your economy getting loads of cash into your country as well.

I have read some post suggesting that Glendora is a nice place?
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Old 02-22-2009, 01:13 AM
 
11,715 posts, read 40,443,013 times
Reputation: 7586
Quote:
Originally Posted by aussielinen View Post
Where are the best places to buy (high rental area - low crime area). We are after really cheap homes though.
Not going to happen. Low crime and really cheap don't really go together.

Quote:
Originally Posted by aussielinen View Post
It was on the Australian NEWS (TV) that Australian's were buying homes for just $20,000 in USA.
Maybe in Detroit. Not in California. Probably not even in Stockton.

Quote:
Originally Posted by aussielinen View Post
I have read some post suggesting that Glendora is a nice place?
Nice area. Not cheap.
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Old 02-22-2009, 04:25 AM
 
Location: Columbia, California
6,664 posts, read 30,607,140 times
Reputation: 5184
The banks own the foreclosures and they are not budging on the prices.
No point in talking to realtors as they buy any fixer uppers that they can.
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Old 02-22-2009, 05:10 AM
 
Location: Declezville, CA
16,806 posts, read 39,934,099 times
Reputation: 17694
Pipe dream.

Yes, you can get homes between 30 and 40k, maybe even 20 to 25 for a real POS, in Southern Cal. Problem is, they're out in the middle of BFE in the Mojave Desert in places like California City and Lucerne Valley. That's where your cheap homes are. Don't believe everything you see on the news.
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Old 02-22-2009, 01:34 PM
 
Location: San Jose, CA
7,688 posts, read 29,147,120 times
Reputation: 3631
In San Jose - which remains a relatively strong rental market - you can get a bank-owned 1-bedroom condo in a borderline decent neighborhood for $150,000, or a 2-bedroom in a downright bad neighborhood for $130,000 or less. If you can rent it, it will be cash flow positive. But that's a big if.
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Old 02-22-2009, 03:07 PM
 
Location: Coachella Valley, California
15,639 posts, read 41,029,544 times
Reputation: 13472
If you find a $20,000 home in California ... let me know!
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Old 02-22-2009, 03:18 PM
 
11,715 posts, read 40,443,013 times
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Quote:
Originally Posted by Twinkle Toes View Post
If you find a $20,000 home in California ... let me know!
All it'll need is $200k in improvements to get a certificate of occupancy.
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Old 02-27-2009, 10:34 AM
 
7 posts, read 17,335 times
Reputation: 12
lol you can't buy a 20,000 condo anywhere in the USA!

Unless it's a really bad piece of crap.

Even trailer park homes cost a little more than that!
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