Find Good Real Estate Deals in Southern California

Are you looking to save money when you buy a house in Southern California? Do you really want to buy a good deal in Southern California but don't know how? Have you been looking for six months or a year for a good deal in real estate and you're pretty much ready to throw in the towel because you just can't find anything? Well, I'm going to show you how to find and buy a good deal in Southern California.

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My name is Matthew Silva, I'm an investor, a real estate broker, a mortgage broker and I do Property Management. I use these skills and services to help you get the best deal out of real estate. My clients include attorneys, banks, investors, regular buyers and sellers and hopefully it'll include you too. So let's get started.  

First off, what is a good deal? 

Well, I'm going to give you three examples of what a good deal is in real estate. 

The first example is a pretty obvious one and that's a property under market price. So if all the homes are selling for 900,000 but you're able to purchase this identical property for 850,000. What you just saved 50,000. And the really good news, when you finally close, you actually made 50,000 dollars instantly. 

The other good deal is a property type that you really want to get, and that there are a limited number of and a great example of that is mid-century modern homes. 

A good friend of mine and a client has made a killing purchasing one of these homes in the area here in Long Beach where their trend is mid-century modern and people have paid two hundred thousand dollars, three hundred thousand dollars more for that mid-century modern type home than a contemporary home, just around the corner.

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And the third type of money-making opportunity and good deal is the most common and that's a fixer-upper home. There's two types of fixers I like to mention: there's your cosmetic fixer, which might be Grandma's house, maybe it's a little smelly, got old carpet, got funky curtains and basically just needs paint and carpet and you have a nice clean home to move into. And then you have homes that are a little bit more work somewhere in between a major fixer and a cosmetic fixer, would be a home that's missing heat or missing some kitchen cabinets. Typically those can only be sold to a cash investor but with the right agent and the right team, you could use alternative financing to purchase one of those homes. 

The last type of fixer, which we don't really focus on and that's a major contractor special that's got huge foundation issues or roof problems, which most people just can't handle. But if it's a good deal for you and I have a contractor and a loan that can help you do it, why not check it out. 

So, how to find good deals?  

Well, the first step is to meet with a realtor such as myself who has experience investing in real estate and making a lot of money, doing it, and helping other people make money doing investments as well. 

This can generally help guide you just due to the experience alone. 

Next step after you meet with your realtor, you're going to want to meet with a financing Specialist. Somebody who works for a bank or mortgage broker that just specializes in home loans and nothing else. 

And when you do meet with this realtor, you're going to want to make sure this guy actually has some knowledge about how homes are built, what the construction process is and what is the cost to cure – that is the cost to make repairs to get the house livable. 

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Now I want to get into something a little bit serious here and that's how to get frustrated with the process and eventually quit. Looking to buy real estate and just keep on renting or doing whatever and that is by not meeting a realtor and just by trying to do it yourself, by trying to go to a major bank who doesn't understand how to buy a fixer-upper or a good opportunity, or try to do it yourself, and just try to go on a Zillow and realtor.com, or call this agent because you found a property on the internet. 

That's probably going to wind up wasting a ton of time as you'll find out these homes that you find through the internet, you can't buy, they're not what they advertise to be or ultimately, it is a scam that you need to watch out for. Let's just avoid all that please. 

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So, now how to buy a good deal in real estate. It's not good enough just to locate one. Now, you have to buy it. 

Well, the first piece of advice after you’ve met with your realtor is to get approved for a loan that can close fast. See in real estate, cash is King. 

People much prefer to work with people with cash, you don't need appraisals, they can close in a week. But the next best thing is a loan that can close in two or three weeks. And my banks that I work with, we get you fully approved to where you can close fast. The big Banks can't do this, they're too big, they've got departments completely overseas that are more out of state that have to put approvals on the loans. And those loans will typically take 30 to 45 days to close. Sellers do not have time to waste on somebody like that, they might even take less money just so they can work with a cash buyer. 

The other thing you should know about buying a good deal is not putting all your eggs in one basket. You see, if you just try to  get that one deal, you're praying and hoping it goes through, you're probably missing out on other good opportunities. You may even need to kiss a few frogs until you get that one killer deal that you've been looking for your whole life. 

Now, lastly, don't mess around. I can't say this enough, a good deal will come on the market Friday. I'll be there with my clients on Saturday, putting in an offer. And on Monday, we've locked it up and that house is ours and nobody else can buy it. While most other realtors and other people who want to find good deals are calling on the property on Monday when it's already sold to us.

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When you're ready to buy a good deal, I'd love to help you out. To get started, what we do is we have a free consultation with you, where we sit down, get to know what you're looking for, what areas you're looking to buy in, the beds, the baths, the monthly payments. In this way we can set up a criteria for the good deals that we're going to find you. From there, we're going to set you up with some alternative financing and different financing options. So this way, not only do you have a really low rate, but you're qualified to close fast on just about any property we see out there. From there, we can actually start looking at great homes and help you buy one. To schedule your free consultation, call 562- 521-8575. Or you can schedule a time on my calendar. Thank you so much and have a great day.