Working REO properties is challenging. During these economic times often tenants suffer from owners who go into foreclosure. This was the case on this property. I was able to offer the owner (who lived in the back house) cash-for-keys. It took another two months to evict the tenants in the front house. The back house was already clean and the front house was going to be cleaned by the bank’s property management company. View our “Featured Listings” section for 833-835 Ditman Avenue. Email me directly for future showing instructions.
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The property seems to be in rough shape. I hope someone works on it so to garner intrest.
I am not sure if it is pretty safe and good to invest in a bank lock out property.
Think of it like a traditional sale. You are “more responsible” for the property as the bank almost never gives an credits and won’t help with reports since they know nothing about the property (hey, they never lived there). However, if you hire licensed inspectors and do your due diligence with possible unpermitted space (hire a reputable permit company), these properties can be a fantastic value. Like all investments, you’ll need to see if it makes sense for you on paper and if the “fixer” is worth your time. It may be better to just buy a regular resale home that has already been fixed up and is ready to move in. See http://www.laforeclosurefinder.com or CLICK HERE to sign up for my FREE bank owned/REO/foreclosure search. And, connect with me if you want me to send you a list of our REO properties that are not currently on the market. Happy Hunting!
the area is good, and as we see, the neighbourhood seems preety cool too!!!
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