BiggerPockets

Hello All,
I am newbie to this forum, it feels great to see all like minded people at one place.

I need your suggestion for finding a deal in Bay area. I am trying to buy a condo in Bay area especially Sanjose for around 250K with 25% down payment. There are many listings for around 250K but the problem is when i put the offer, the cash offers are beating me. I tried hard and this has happened multiple times already. I definitely do not want to downpay more than 25% because i want to take advantage of the low interest rates.

Folks please help me in letting know what kind of strategies do i need to implement? How to get my offer selected when there are multiple cash offers?

Thanks!
Seetha.

echoing what Kyle said. The problem is compounded in bay area with so many cash buyers in that price range. if you can swing it then buy it with cash and refinance/LOC etc. Otherwise you will be limited to some flips and some REOs

if you are extremely confident on being able to close, you can also bid without finance contingencies. your bid is 25% with financing, but if you don't close the financing you will have to pay with cash. Just make sure you can afford to close if you don't get the financing, and you bake in enough time to close (with whatever lender you are using). this is how I am competing on my current property.