This week’s Friday Finds was a lot more difficult to pinpoint and unbury because so many of the properties are priced, higher than the most recent sales and provide no additional benefit or value based on the property itself.

After carefully looking through this week’s entire newest bank owned listings I was able to narrow it down to five semi good properties (based on numbers and a general look), however before we dive into that let me first give you the overall numbers for this week in Temecula.

The market introduced 22 new Temecula bank owned listings this week, 4 of them have been able to accept an offer within the first 7 days leaving the remaining 18 properties for you to pick and choose from.

All REO properties considered, the list prices ranged from $104,900 for a 3 bedroom, 2 baths, home built in 1976 up to a like new 5 bed, 4 bath, built in 2007, listed at $407,000.

Getting back to the Friday Find properties now, like stated earlier there were 5 that I found interesting and needed a closer look.

Temecula Bank Owned Corte Tolosa

As you know from previous weeks, there can only be 1 and after narrowing the five properties down to only two and then finally the pick for this week is a 3 bedroom, 2 bath, 1600 plus square foot, single story home in a very nice community of Paloma Del Sol.

Looking at the pictures this home seems to be in good condition and at a price of only $116.02 per square foot is a great value. The most comparable sales within the past 90 days have ranged from $123.38 per square foot up to $132.81!

By the way, the list price is only $193,050.

Until next time!

God Bless –

Tim Taggett
Serving with Honesty and Integrity!
Building Dreams Through Real Estate!
Temecula: (951) 240-5645
San Diego: (760) 481-3152
Email: RetireEarly@live.com
“All hard work brings a profit, but mere talk leads only to poverty.” - Proverbs 14:23

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This week the inventory has drastically picked up especially compared to last week when we only had 3 new bank owned apartments come on the market.

For this Monday we had 13 properties become available which is a pretty higher number than we have been seeing in the past couple of weeks but not too many compared to the past.

Prices for these bank owned Riverside County Multifamily units range from $87,350 for a duplex in the city of Hemet to $324,900 for a 4plex in Murrieta (which I have personally seen and needs some work for sure).

This week’s pick was chosen more on LOCATION than based off of any other factor. The duplex seems to be a good buy as well considering each unit has 3 bedrooms and 2 baths plus there is a 3 car garage which is very rare for a duplex.

Riverside Bank Owned Duplex For Sale - Albany St

Duplex is located off of Albany St in the city of Riverside mere blocks away from “The Galleria at Tyler” which is a very good rental location especially with how close to shopping and work that would be for some potential college student renters.

By the way, this one is being offered at the list price of $185,130 and at about $74.35 per square foot which is very inexpensive for downtown Riverside.

If you would like a custom list of available Riverside County apartments feel free to either send me an email or give me a call and it would be my pleasure to help!

Until Next Time!

God Bless -

Tim Taggett
Serving with Honesty and Integrity!
Building Dreams Through Real Estate!
Temecula: (951) 240-5645
San Diego: (760) 481-3152
“All hard work brings a profit, but mere talk leads only to poverty.” - Proverbs 14:23

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This past week just like last week was a very busy week for new bank owned listing to come on the market.

This week alone there has been 26 brand new bank listings within the great city of Temecula. A very surprising thing this week is that only 3 out of the 26 properties have accepted offers within their first 7 days on the market.

Temecula’s bank owned market for this week ranged in price from $99,900 for a house that needs at least $40,000 in repairs all the way upwards to a brand new in 2007 home listed at $423,900.

With such a large amount of new inventory it was slightly more difficult to pick 1 property as the Friday Find but it had to be done and I think this week it one that is not necessarily a steal and definitely not priced under market either.

Even though this home is not listed truly as the lowest priced one within the past several months it is still a good buy based on the the upgrade counters, tile floor and centrally located in the Harveston Community within Temecula.

Lock Haven Ct - Temecula Bank Owned Home

This particular property is listed for $234,900 which puts it at a mere $109.41 per square foot and the most recent comparable based on location and size sold for $230,000 however more recently a slightly bigger home sold for as much as $265,000 which makes me have mixed emotions on whether it is a good value or just an okay value.

If you would like your own custom list of properties delivered to your email it would be my pleasure to help! Just drop me an email or phone call.

Thanks for reading and until next time!

God Bless -

Tim Taggett
Serving with Honesty and Integrity!
Building Dreams Through Real Estate!
Temecula: (951) 240-5645
San Diego: (760) 481-3152
Email: RetireEarly@live.com
“All hard work brings a profit, but mere talk leads only to poverty.” - Proverbs 14:23

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This week (surprisingly) has been a very slow market when talking about bank owned apartment buildings that have come available for sale.

Only had 3 multifamily units come on, which is good for you as the reader because we can spend a little bit of time on each one, instead of just doing the broad numbers and the pick of the week.

Going to review them based on price from lowest to highest.

Hemet Bank Owned Triplex For Sale

Starting off the list at only $89,100 is a triplex (3 unit apartment) in Hemet on N Hamilton Ave. This building was built in 1964 and has 3 units each one of them being a 2 bedroom 1 bath. As stated in previous postings each unit should rent to Section 8 for around $900 giving you a monthly gross income of $2700 with all units rented.

Riverside Bank Owned Duplex For Sale

Next up is a duplex in the City of Riverside. This property actually is 2 separate buildings and someone can get both of them for around $176,000 (maybe even lower with good negotiating skills). After looking in to this one a little deeper I found out this may not be fully permitted 2nd unit because the main house is a 2 bedroom 1 bath whereas the back building is a 1 bedroom ¾ bath and according the counties’ tax records does not show the back building at all. Would need further research to tell the true value or lack thereof.

Murrieta Bank Owned Fourplex

This last and final property is my personal favorite because of the location (a very rare find in today’s market) , bank owned Murrieta 4plex apartment building! Even though per door a person would be looking at paying upwards of $81,000 this is no doubt about it the deal of the WEEK! Murrieta fourplex each unit having 2 bedrooms and 1.5 baths at only $324,000 is an awesome deal for sure!

As always if you have not signed up for delivery of these posting via email I would suggest you do so by simply putting your email address in the box and then you will get the updates without the need of coming back to the site every week.

If you are looking for something more specific please either give me a call or send an email and it would be my honor to have the privilege to help you.

Until Next Time!

God Bless -

Tim Taggett
Serving with Honesty and Integrity!
Building Dreams Through Real Estate!
Temecula: (951) 240-5645
San Diego: (760) 481-3152
“All hard work brings a profit, but mere talk leads only to poverty.” - Proverbs 14:23

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Over the past couple of months of posting this Friday Finds this is the largest set of inventory I have seen.

This week 29 Temecula Bank Owned Homes came up for sale and 14 of them have already accepted offers. Leaving a good sized batch of 15 still available.

Of the 29 homes they range in price from $94,900 (a 2 bed 2 bath condo) up to $389,500 (for 6 beds 5 baths).

For the Friday Find this week I was able to narrow down the 15 homes to only 3 homes. All three homes are very nice and would make a great home or investment however as you know, only once can be the find of the week.

My choice was based on location and a good price per square foot. At first another home caught my eye because of the price per square foot and how large the home is however after taking a closer look it is located in a neighborhood very close to Highway 79 and personally it is not one of my most desirable places so it was ruled out.

Temecula Bank Owned Home - Friday Find

It is my pleasure to pick 41764 Monterey Place which boast more than 2,200 square feet with 3 bedrooms and 2 baths for a very reasonable list price of $213,900. This property is right in line with the most recently sold bank owned going for $218,500 with more than 200 square fee less living space.

Hope you enjoyed this week as much as I did bringing it to you.

If there is anything I can do to help, feel free to either email or call and it would be my pleasure.

Until Next Time!

God Bless -

Tim Taggett
Serving with Honesty and Integrity!
Building Dreams Through Real Estate!
Temecula: (951) 240-5645
San Diego: (760) 481-3152
Email: RetireEarly@live.com
“All hard work brings a profit, but mere talk leads only to poverty.” - Proverbs 14:23

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Simple breakdown by city:

Hemet 1 duplex for $94,050.

Lake Elsinore a duplex for $149,900.

San Jacinto introduced 1 fourplex for $87,863.

Of course someone that was inexperienced with multi units would say the fourplex in San Jacinto is the best deal based on all 3 primary factors, cost per door, Gross Rent Multiplier (GRM) and Capitalization Rate (Cap Rate) however those units need a lot of work and therefore have not been factored in for the pick of the week.

That leaves us between Lake Elsinore and Hemet both of which are decent deals. However with multifamily apartments it is all about the numbers and considering that both properties could rent for roughly the same amount (as usually considering Section 8 Tenants and fully rented). The Hemet duplex is the better choice.

Hemet Duplex Bank Owned Apartment

Cost per unit on the Hemet apartment is almost half the cost of the Lake Elsinore Duplex and all other numbers are greatly larger as well.

For more information about these or any other properties in Southern California then contact me either via email or phone and it would be my pleasure to help!

Hope you enjoyed reading!

Until Next Time!

God Bless -

Tim Taggett
Serving with Honesty and Integrity!
Building Dreams Through Real Estate!
Temecula: (951) 240-5645
San Diego: (760) 481-3152
Email: RetireEarly@live.com
“All hard work brings a profit, but mere talk leads only to poverty.” - Proverbs 14:23

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