I have a cash investor looking for forclosures in the Los Angeles area. Here in Indiana he has been finding properties in the "under 30,000" price range and is hoping to find similar deals around L.A. Not being familiar with California, I don't even know if this is possible.

Anyone interested in referals of this type please PM me.

Also, spanish language would be helpful here. :)

I think the closest thing you would find would be some of the riverside county areas for properties in the 40's?

I would be interested to hear about LA properties as well.

I don't know the area at all. I think my client has relatives in the area and he wants to buy some re-habbers to fix and rent. He heard that houses in the area were renting well.

I just showed property this past weekend in LA. 2 and 3 bedroom homes, nothing over 1200 sf. One dumpy little one was a 2 bedroom with 1 bath but had an additional bathroom addition, non permitted, moldy/mildewy and dirty. House needed paint, flooring, new roof - roof was real bad, had some broken windows, etc. Converted garage also. This one was under 900 sf. I believe that one, which I would consider a fixer, but their agent didn't(!) was listed at $339k.

You'll find similar homes in LA probably for $185k - $285k. I haven't seen anything in the price range your investor is looking for in LA.

Oh, yes, homes in this area usually do rent well.

In Los Angeles proper you're going to be hard-pressed to find anything in that price range that would be even remotely livable. As Shannon has mentioned, the sub-$200k range is going to be far more realistic.

At the moment I have a listing on my screen in Compton: 2 bed 1 bath, 656 square feet, 2000 square foot lot (that's not a typo) with no parking...and MAJOR fire damage. Asking price: $60k.

You can find livable units in the Antelope Valley (Palmdale/Lancaster) in the $60k range...and perhaps even cheaper in the Victorville/Adelanto/Hesperia area. If your client is looking to use them as rental properties, I can't really speak to the rental market out there (since that's not my area) but I suspect it's pretty depressed right now since there are literally thousands of empty dwelling units out there.

Inland Empire (esp. San Bernardino, Banning, and Hemet/San Jacinto) has plenty under $100k, but still little to nothing approaching $30k.

Thanks for the info, guys. That's about what I expected. :) I'll pass it on.