40K cash

by Stefan
(L.A.)

What can I get for $40000 cash in today's housing market?
Probably, I do not qualify for a loan.
Thanks,
Stefan


Hello Stefan,

Thank you for writing. I'm not sure if you are looking to purchase a home for yourself to live in or for investment. In any case, real estate is a good place to put your money.

However, in my areas of expertise within the cities of Riverside County, the only available properties would be within a mobile home park. Many of the parks are tearing down older homes and upgrading. Some of these newer manufactured homes, which are very attractive, sell between $12,000 to 65,000. There will, of course be a monthly space rent, but there are areas where this is very resonable.

If you are not interested in this type of home, you may be interested in purchasing a single family dwelling, using your cash as a down payment and financing the rest. I realize that you believe you cannot get a loan, but if you would like to check I can put you in touch with someone. I have a finance person who can get many people financed who were previously turned donw.

I hope I've been helpful. If you have more questions, just let me know.

Best Regards,
Jim