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Making a solid investment in a short sale condo in Los Angeles

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By : Clark Raitz    99 or more times read
High-rise complexes are available and affordable, and these two elements appeal to first time buyers and homeowners looking to scale down their living environment and investors understanding the opportunity to maximize on a short sale condo in Los Angeles.

A short sale will allow the bank to take a loss on the outstanding balance owed on the mortgage, but experience shows this to be a win-win situation as the property is ultimately sold for a lower sale price than it would normally fetch.

Studies show, you could save up to thirty percent when it comes to foreclosures, no matter whether these are short sale condo in Los Angeles or those properties available on Tucson foreclosure listings. A lower sales price certainly makes this investment appealing to savvy investors and first time home buyers alike.

However, in these rough economic times, you have to be sure to have some extra money set aside for renovation work that any house from bank listing of foreclosures may require. Renovation work may be an inconvenience for some people interested in purchasing a short sale condo in Los Angeles only to turn around and flip the property for a profit. But investing your money in a condominium property is the same as an investment in any type of home found in Tucson foreclosure listings or even in a bank listing of foreclosures anywhere else, and it is always profitable.

Be sure to hire a qualified home inspector to inspect the interior of the unit as well as the exterior of the building, including the roof, basement, heating and ventilation systems. You want to be sure the monthly maintenance fee you pay for your condominium unit is also responsible for keeping the building in good working order.
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