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Old 04-11-2012, 11:03 AM
 
224 posts, read 495,186 times
Reputation: 186

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We are interested in possibly buying a condo or townhouse as investment property in LR. We've been watching the market there for the past many years and feel like it *might* be at bottom, but obviously we don't know. Thoughts on this? There are some really cheap condos in LR and I have to believe they will go up in price in the next 5-7 years.

Related, is there another surrounding area that you all believe would be a good spot to find a condo/townhouse to use as an investment property? Thinking MAX $275K.
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Old 04-11-2012, 08:04 PM
 
82 posts, read 165,738 times
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You can probably get a really good deal if paying cash. I've seen some nice 1400 sqft, 2 bed, 2.5 bath, 2 story townhomes for around 260k. These are investor purchases. A person financing these same townhomes have paid between 285k-310k. Investors are pretty active in this area. I would stay away from 3 story townhomes. They are the cheapest but they are cheap for a reason.

Last edited by Lallo; 04-11-2012 at 08:42 PM..
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Old 05-08-2012, 09:04 AM
 
Location: Las Flores, Orange County, CA
26,329 posts, read 93,729,143 times
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Are they cheap because they are short sales? Are you aware of the HOA fees? (something pushing $400/mo)?
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Old 05-08-2012, 12:13 PM
 
224 posts, read 495,186 times
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I am aware of the HOAs.

Good question... are these "good deals" short sales? Anyone know?
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Old 05-08-2012, 01:50 PM
 
Location: Las Flores, Orange County, CA
26,329 posts, read 93,729,143 times
Reputation: 17831
Quote:
Originally Posted by socalinnorcal View Post
Good question... are these "good deals" short sales? Anyone know?
The world champion real estate website is redfin and it tells you if a property is a short sale or not. You can use the download button below the table and to the left to download all sorts of extra data too. You can even click a box to eliminate short sales from the query.
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Old 05-08-2012, 03:25 PM
 
224 posts, read 495,186 times
Reputation: 186
Perfect ~ thanks.
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