Realty World – Franklin Real Estate Group – Ed Favinger

I Know This Property – Brought a Buyer to it in 1991.

The folks that bought this property back then did do some interesting things by adding some nice decking in the rear that helps create extensions of the living area.

I have a video that I took about a week or so ago you should take a look at.   This property shows just awful from the exterior and needs to have a “make over”.   I’m sure the owner knows it, but doesn’t have the resources to really do  anything  about it.  In other words, the lack of “cash flow” made it almost impossible to keep up.

This is a typical situation in this market.  I know the current condition of this property is the result of an over heated market,  high debt and the fact that it’s hard to make improvements or even maintain,  if you don’t have an adequate “Cash Flow“.

Click Here for a Pro-Forma Cash Flow analysis.   I am showing a 40% down payment on this one because the rules change for anything over 4 units when it comes to financing.

Take a peek at this video because I do walk the property a bit as much as I could without disturbing the residents there, although a dog did bark at me.

I think you’ll agree with me that the curb appeal is just awful and it doesn’t need to be.   It will require an investment in landscaping and I think a big upgrade should be in “covered” parking.

Let me know what you think…?

In the mean time…?

Make it a great day…!

Ed Favinger, Broker, CRS, GRI, SFR        favinger at rwnetwork.com      916-203-1260

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Both are in “improving areas”, one in Citrus Heights and one in Rancho Corodva.

The Citrus Heights Bank Owned Duplex

Ok…  Let’s start with the Bank Owned Duplex in Citrus Heights that is located at 7700 – 7702 Sayonara Drive. Each side is a 2 bedroom 1 bath unit with Fireplaces, Central Heat & Air,  Garages and Washer Dryer Hookups.   One side has had a Kitchen update.

Click Here for a PDF File that will have the Pro-Forma Cash Flow Figures.

Click here for a Walk Through Video of 7700 Sayonara Drive,  the Right  Side

Click here for a Walk Through Video of 7702  Sayonara Drive,  the Left Side

I’m sure there will be multiple offers on this one because it’s not going to take much to get it “rent ready”.

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The Rancho Cordova Short Sale Duplex

The “Short Sale” Duplex is located at 2597 & 2599 Capitales, Rancho Cordova.   Each side on this one is a 3 bedroom 2 bath that includes Central Heat & Air, Fireplaces, Washer Dryer Hook ups, Garages.   One of the units has Kitchen and Bath updates and the other side has a tenant that has lived there for 22 years.

If you commute to Sacramento, the Light Rail Station is about a half mile away.

Click Here for a Flyer with some pictures of the left side that is under going some repair work.

I’ve been working sales of Duplexes for a long time and this street has one big problem.   While these duplexes are for the most part all 3 bedrooms on each side they lack sufficient parking because almost everyone has at least 2 cars.  As you will see in the flyer one car is on the grass.   The solution is to “increase the size” of the Driveway.   Take a look at the video I made of the street and see if you don’t agree that you can make lemonade out of a lemon.

The cash flow figures are going to be pretty much the same as the Citrus Heights duplex that I profiled above.   On this Duplex though,  we do have two loans that will probably take a little longer to complete the short sale.

I just put this Duplex on the MLS last week and we have two offers on it, so we’ll see how it goes from here.

Finally….

If you are a first time visitor to this Blog Site and are looking for an investment property don’t forget to check out the Free List Page and then send me a note if you’d like to have me analyze it’s potential cash flow.   If you send me an email request,  I’d be happy to send to you an Excel file that you can use over and over to calculate potential cash flow for property that you are considering.

Make it a Great Day…!

Ed Favinger, Broker, CRS, GRI, SFR  favinger at rwnetwork.com 916-203-1260

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I Thought I’d pass this article on from the Sacramento Business Journal.  It just goes to show that while we are seeing an increase in sales activity, there are still folks struggling to keep their heads above water so to speak.

It’s not a long read… check it out….

More homeowners skip payments in Sacramento region – Sacramento Business Journal.

In the mean time….?     Make it a great day…!

Ed Favinger, Broker, CRS, GRI, SFR      916-203-1260          favinger@rwnetwork.com

Thought I’d share this story.

CPR: News Story | Business Journal: Absentee Home Buyers Up.

Make it a Great Day…!

Ed Favinger, Broker CRS, GRI, SFR                        favinger at rwnetwork.com                    916-203-1260