SO MAYBE YOU SHOULD “FISH WHERE THEY AIN’T”
“Fish where they ain’t” is a slogan I got from Ed Keller, another long time Real Estate Broker from one our Realty World offices in Amador County. I have his link on my side bar if you want to check that area.
So with those words in mind I’ve been scouting out potential cash flow opportunities besides those that are Bank Owned/REO type of situations.
I came across two duplexes that are side by side on the corner of Gibbons and Walnut – 3852 through 3858 Walnut Avenue. CLICK HERE FOR A CASH FLOW ANALYSIS
These properties have been on the market for over 90 days. Rents vary from $700 to $900 per month. I based my market analysis on $900 per month. You can go and get a rent comparison to see that $900 is possible.
I think these could be a good deal if you can buy these right. My cash flow figures were based upon sales prices of $200,000, but these should sell for a lower amount based upon the rents that they are getting now.
However when you are a landlord that prices your units below the market, you will then make it difficult to sell at top dollar, which I think is the case here. But… these duplexes have a good location in my opinion. They do need some curb appeal updates and probably will need some interior work as well to get that top dollar income.
In other words, since no one else is bidding on these as far as I know, maybe if you “fish where they ain’t” you might get a decent catch.
Make it a Great Day….
BANK OWNED FOUR-PLEXES… ARE THEY A GOOD DEAL….?
If you have known me a while, you know I am not a big fan of Four-plexes in this area.
The reasons are as follows:
- Most are flats – 2 units down and 2 units up
- Most have no covered parking
- No private patios or yards
- No Firepaces
- No Dishwashers
- No Washer/Dryer Hookups – although they might have a coin-op Laundry Room
- Located in a high density area of other rental units
However – Check this one out at 5720 Engle, Carmichael – These Four Plexes were built in the late 80’s. They have just about all the amenities of a single family home or a duplex, that are excluded in the list above. Those missing amenities are pretty typical of most of the Four-Plexes in the Sacramento Region.
Click here for a Palm Treo video of the exterior taken this past Saturday, July 25th. This property is located on the corner of Engle and Sareco Court. If you go to google maps you can get the “street view” of this property.
You will notice in the slide show above that this is a nice area that is not all apartments another “plus”…!
I get excited when I see a Duplex like this on the market.
This is one of those rare duplexes that has a 3 bedroom 2 bath on one side and a 2 bedroom 2 bath on the other. Both sides have 2 car garages. This looks like a single family neighborhood and across the street are new single family homes.
When you have a duplex that is in decent condition, almost rent ready, it’s not going to be on the market long.
Click here for some pictures and a “proforma cash flow analysis”
Here’s a YouTube Video I took with my Palm Pilot… This is of the interior of the 3 bedroom unit.
Click here to view
Hey if you want more information on this or any other residential investment property in the Sacramento Region, just drop me a note.
In the mean time…?
Make it a great day….
PRIDE OF OWNERSHIP TYPE INVESTMENT REAL ESTATE CAN CASH FLOW:
I’ve posted some new prospective Cash Flow opportunities to the Ed’s Hot Picks page that you might want to check out.
An Interesting Nine Units
One of them is a 9 unit property that I has been on the market for a long time and recently went into foreclosure so you’d better hurry.
This property consists of two parcels. A notice of default on one of them was filed in April and the other one just a few days ago, so the clock is ticking. Call me for more information – 916-203-1260.
Financing if you need it will be an issue, especially on the 6 unit parcel.
A Duplex that could be owner occupied on one side.
The other property that was recently added is a duplex in a nice part of Citrus Heights, that is a 3 bedroom 2 bath on one side and a 2 bedroom 2 bathroom on the other. The notice of default on this one was filed in April, so this one is getting down to the wire.
As I have said in earlier posts… I don’t always post these deals here, but if you check the Ed’s Hot Picks page I do update it a lot more often.
In the mean time…?
MAKE IT A GREAT DAY….
