Offer accepted, kind of

Finally we have an offer accepted!!!!!!!!!!!! by the seller, but now it has to go to the bank and that can take months also the bank can turn it down. So we just have to wait.

If you didn't know, we have been looking for an investment property for the last 6 months or so. We have some money sitting in savings that is earning a whopping $7 a month.  So the goal is to take part of that money and turn it into $100 to $200 a month (or more).

We submitted the offer site unseen because to wait in this market, is to lose in this market. Besides I wasn't too worried because I knew that we would have to put some money into it and it was going to be a rental anyway.  Also the home inspection should turn up major stuff and that would let us walk if needed. As long as it wasn't trashed I was good to go with it.


The problem we have been facing is that the market for the low end properties is booming.  We have submitted 4 previous offers, some above asking, and we were beaten out on all of them. Actually every one had multiple offers with about half of them being cash.

Some of the sales were traditional, some were foreclosures and this one is a short sale. I think that the reason we got a jump on this place is that it is not listed in the San Diego MLS. The agent is in Orange County and so is the listing. Why? I have no idea. "A" found this place on a real estate site. 

It is next to a golf course and has a pretty nice view from the balcony. The inside is rough and we will need to put some $$$$$ into it to get it ready for rent if we get the place. It is two bedrooms and two baths with 1070sqft. The listing shows a garage and most units have them, however when I looked at it today all we have is a large walk in storage closet. I am kind of pissed about that.

From the Front

Right side of living room

Left Side of living room

Kitchen

Master Bedroom

Master Bath

Master Bath

Laundry next to master bedroom

2nd bathroom

2nd bathroom

2nd bedroom

2nd bedroom

outside storage unit

Outside storage unit

From the balcony off the kitchen

Complex pool