Ouch….!!! This man lost $137,000 and is upside down on his “investment”.
I have added the link to the answers to a Trulia Q&A question that was asked by an investor in El Dorado Hills, California that had purchased a property at a courthouse auction.
While this case is a little unusual, I think from the answers that were given by me and other professionals, you will come away with the idea to do your “due diligence” first before you invest in this area.
His dilemma is not one that I think any of us would like to be in.
Click Here for the story and see the answers that were given and let me know what you think. You might want to check back on that link because chances are you will see new answers and advice given.
Make it a great day….!
Ed Favinger, Broker CRS, GRI, SFR favinger@rwnetwork.com 916-203-1260
Capitol – Sacramento, California
This is what can happen if you don’t get a “Home Inspection”
If you are thinking of buying a home or an investment property, don’t skimp on the inspections because you might be sorry. Trying to save a couple of bucks can cost you.
Case in point…? This sad story really could have been avoided. Check out this “News 10″ television station report that makes my point. I just thought I’d share this with you. I think these Buyers regret not retaining the services of a Home Inspection Company. Check out the story and News10′s Video
Bank repo buyers discover house built of railroad ties | News10.net | Sacramento, California | Local News.
Make it a Great Day…!!!
Ed Favinger, Broker CRS, GRI, SFR favinger@rwnetwork.com 916-203-1260
One of these is the best I’ve seen in a while, the other has location but needs some work.
I woke up this morning and got the update in my email account. I was excited to see some new Bank Owned/REO Duplexes hit the market. So… I made an effort to get out and about this morning early to get some pictures and video completed before my next appointment at 1PM because I know neither one of these properties is going to be on the market long.
Property #1 – Let’s start with 5516-A&B Marconi, Carmichael, Ca – This is a 3 bedroom 3.5 bath, 2 car garages each side and is listed at $295,000. I will let the videos do the talking about them. Rents are projected at $1,575 per side.
Click here for a video of the Left Side – - – - – Click here for a video of the Right Side
Click Here For a Pro-Forma Cash Flow Analysis
Property #2 – The other one is located at 9650-9652 Lake Natoma, Orangevale, Ca 95662 and is a 3 bedroom 2 bath & 2 bedroom 2 bath. It’s in a great neighborhood in area that has a school down the street, shopping less than a half mile away and within walking distance to the American River Parkway trails.
I was not able to get inside this unit because the listing agent hadn’t installed a lock box to allow me access but I did get a video of the exterior front and back. Click here for that video – Click Here for the Pro-Forma Cash Flow Analysis
And… If you want to see how neat this property is because it is so close to Lake Natoma and the American River Parkway click on this link from Frank Bobbio’s website and his aerial photos. As a side note…? If you would like to see some interesting photography of the Sacramento Region take a look at Frank’s website here.
So tell me…. What do you think about these two…?
Make it a great day…!!!
Ed Favinger, Broker CRS, GRI, SFR favinger@rwnetwork.com 916-203-1260
Image via Wikipedia
Two new listings I profiled here recently closed – All Cash – No Financing
When I profiled these Bank Owned Duplexes just about a month ago it didn’t really surprise me that both of them went to a Pending Sale status shortly after I posted the article.
One of them, 7444 Robmar Court, Citrus Heights, sold for the list price and the other one, 7720-7722 Sunset Avenue, Fair Oaks, closed escrow with a sales price of $285,000 which was four thousand dollars over list price.
7444 Robmar closed escrow on September 3rd and Sunset closed escrow just a few days ago on September 16th.
Bottom line is that if you like one of these properties and they have just come on the market, chances are you will be up against “all cash” investors.
If you are thinking of getting into this market, be prepared to do battle with other investors looking for these great deals.
Make it a great day…!!!
Ed Favinger, Broker CRS, GRI, SFR favinger@rwnetwork.com 916-203-1260
