Buying a home at a reduced price tends to be the goal of many home buyers in the marketplace today. Finding a good deal can be challenge unless you understand the current market and what homes have recently sold for. Properties that identified as needing light cosmetic work tend to be the best deals as they don't need a lot of work in order to fix them up. Typically new paint and fixtures will go a long way in these types of properties. Flip properties are those that you buy at a low price and then fix up to put it back on the market for sale. The key to success is understating you make money when you buy the property. This means negotiating at the lowest price in order to maximize profits when you go to sell.
A good example of homes that need some cosmetic work is a newly listed home in the El Camino Estates neighborhood. This is a great community located near a golf course with no homeowners association dues. The two bedroom, 2 bath home features an approximate 1,188 square feet of living space and is listed for sale at $345,000. Recent home sales in this community for the calendar year of 2019 have range between $370,000 to $410,000 with a lot of homes selling at the $385,000 price point. Depending on how you negotiate this purchase there could be some potential for instant equity here. Upon reviewing the photos of this home it looks like the home has original kitchen cabinets which probably should be updated as well as new carpet and paint. To learn more about this opportunity please contact us at 760-710-2856.
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Listing information last updated on August 14th, 2020 at 6:00am CDT.