Hello, I am a new investor and we live in Northern California. I have been studying properties around my area and have a good idea what their worth is.
There’s a triplex I’m interested to buy to live in one and rent the other two units. The property’s listing price is below the lowest estimated value. Property is bank-owned.
You get started by making an offer. If it is bank owned go and see it and see what it needs to become profitable. Only offer what you can afford to pay if the other two are empty. Not every property is for every buyer. Make sure that it will work for you. On all foreclosures I do not look at the listing price I look at what I can profit from selling it or renting it.
Redhawk