Come and Get ’em – They probably won’t last long….
I was out and about yesterday for the first time in a while looking at property. If you follow this blog on a regular basis you know I haven’t been posting for about two weeks. The reason is not that there haven’t been good deals out there, it’s just that I have been busy writing up proposals and Realty World Capital Trade Group, of which I am a member, had a Trade Booth at the California State Fair that I committed to to attending.
In the process I met a lot of nice folks and got more of a feel for what is happening in the economy. While some folks were complaining about their houses being “upside down” we did meet some folks that were looking to get into the market not only as first time buyers but investors as well.
So here are two great prospects, one of which I know has been part of the “shadow inventory” that I’ve talked about before.
10152-10154 Crawford Way, Sacramento, Ca 95827 – Listed at $113,850. While I didn’t go inside this property, I do have an idea of what it’s going to take to fix this one up. It’s boarded up which makes it look nasty… it does have a partial new fence on the side street (this is a corner lot), the landscaping is well… pictures say a lot. The listing doesn’t show Central Heat and Air so the “fix up” costs I’m projecting would include adding this and the “usual re-hab” costs.
When it’s all done, you’d have one nice piece of investment real estate. There have been several foreclosures in this neighborhood that have been picked up and rehabbed, one is just across the street.
3425 Viking Drive, Sacramento, Ca 95827 – Listed at $186,900. This one has been sitting on the market since August 19th. The duplex on the right of this property is also in bad shape. I haven’t checked but I think it’s bank owned as well. There are some nice properties just across the street and around the neighborhood.
The prices on these Duplexes are cheap enough now that you can do the fix up and still make $$$. After this kind of investment in “fix up”, you’d only be doing the “normal maintenance” that is associated with any kind of rental real estate.
If any of these properties pique your interst drop an email my way at: firstname.lastname@example.org or call me at 916-203-1260.
In the mean time…?
MAKE IT A GREAT DAY….