Just put my first offer in San Diego!
Hi guys! Just put my first offer in- super exiting to even say that haha. Property is 280K market value (3B/2B) condo in Lakeside, California. Sellers description says that owner "wants it gone" and they lowered the price to $250K. I threw in a lowball offer at 200K to see if they would bite. It's a heavy HOA fee of $432 monthly, so I think that's a large reason why it hasn't sold yet. Even so, it still cashflows between $50-150 and this seems pretty rare for San Diego. I'd instantly be buying myself into equity with 80K so I feel as confident as a newbie can feel about this deal! What do you guys think? Thanks!