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    rlarias3's Avatar
    rlarias3 Posts: 2, Reputation: 1
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    #1

    Oct 23, 2011, 10:41 AM
    Abandoned Properties for Sale?
    How do you find abandoned houses in southern California?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Oct 23, 2011, 12:47 PM
    If they are really abandoned, most likely they are not for sale, since the owners will have to want to sell them. But you work with a real estate agent that works often with those types of properties or knows those areas.

    You can also drive around, find ones that appear deserted and find their owners though the court house and attempt to purchase them. ** I have bought a couple like that over the years.

    Most are often foreclosures and there are agents who specialise in those now.
    rlarias3's Avatar
    rlarias3 Posts: 2, Reputation: 1
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    #3

    Oct 23, 2011, 01:24 PM
    Thank you. I guess I better do some sight seeing.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #4

    Oct 23, 2011, 02:41 PM
    The last one I bought for an investment, I was helping with some electric issues for a local church and there was this house across the street. A bum had kicked the back door in and was living there, he carried in water to "flush" the toilet.
    Most of the walls had holes punched or kids had did art work on them.
    The central air unit had long ago been stolen, and grass was above my waist.

    I found the owner, and called. He told me a price and I actually and honestly laugh at him. I said he was confused, He had no idea how bad it was. So I bought this two bedroom for about 12,000 dollars. ( cash of course since there is no way to get loans on these types of properties)

    I had a man who worked for me, so I had him fix the dry wall, and paint inside and out, I replaced most of the plumbing myself and did all new shingles.
    So I had about 22,000 in it and then rented it for a couple of years. So I took in about 10,000 in rents over 2 years.
    Sold it for about 40,000 within two days of listing it.

    So there is money if the owner is willing to accept real low.
    Right now the issue is, very nice foreclosures are selling so cheap, I can get a three bedroom brick on 1/2 acre in nice areas for 35000 right now. So I have to find someone willing to take 5000 to 8000 on rough places now to even start. Or I am better buying the 25000 to 30000 places that need little. And just renting ( their value will go up in 3 to 5 years ( my guess)
    lucy00's Avatar
    lucy00 Posts: 5, Reputation: 3
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    #5

    Dec 1, 2011, 12:15 PM
    There are a lot of abandoned places in south California and. All you need is to contact the real estate agent of the specific area where you wan to invest. Most of them are foreclosed and the others either too abandoned or not suitable to live. You can also check with the
    - House Auction agencies
    - Government Agencies
    - Major Banks Website

    *** link edited out, appears to be a traffic driver to a foreclosure web site**

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