Note to You Bay Area Investors – You Get More Units for the Same Money in Sacramento

Check out this article to see what I mean.

A recent apartment acquisition here resulted from the sale of 10 units in the Bay Area and doing an exchange into a total of 85 Multi-Family units.

Basically the reason why this investor made this move is because you get a lot more units with a lot more upside and cash flow when you invest in Apartment units in the Sacramento area

Modern apartment buildings on a sunny day with a blue sky

 

Click Here for that Story

 

So if you’re a Bay Area Investor with property you’d like to sell and exchange for more units in the Sacramento Area, you’ll be joining a few others that have done the same thing.

If you are worried about Property Management because we are a couple of hours drive away from your home, rest easy.   Our Property Management Company, Haven Properties is here make your life easier as an investor.

Call or Text me at 916-203-1260 or send an email to me at,  favinger@rwnetwork.com.   Let me help you take advantage our Rental Investment market here in Sacramento

In the mean time…?

Make it a Great Day…

Ed Favinger, Broker, CRS, GRI, SFR, CDPE

 

Sacramento Duplexes for Sale – Sometimes They Need a Make Over…

Don’t Be Afraid to Invest in Fixing Them Up.

I know some investors, especially new investors, would like to purchase a Duplex for sale here in the Sacramento area but get discouraged and hesitant after they’ve seen a few of them.    The reason it seems, is they need a lot of work to bring them up to a decent condition because most of them are over 30 years old.

There are those Sellers that have done very little, if anything, to improve them much less keep up with the ongoing maintenance.   This isn’t always the case but it’s pretty common.

Those Sacramento Duplexes for sale that are updated/upgraded get top dollar with multiple offers in most cases.    People forget that construction just about stopped completely in 2008 and continued up until just recently when builders finally ramped up construction of new homes.

What they haven’t built here in large numbers for many years are “Duplexes”.

Since they haven’t I believe there’s a major opportunity for the smart investor.  It’s true even if you are a beginner in Residential Rental Real Estate such as Duplexes.   Why…?   Because Rents are on the rise with the increase in population and not enough housing stock.

There are many good deals out there in my opinion but you have to also be willing to update/upgrade a unit to make it work.   These are long term investments and my advice is to fix them up.

I have a great example here for your review.    We recently closed a Duplex deal at 10823-10825 Alicante, Rancho Cordova.   We kept the tenant on the left side, cleaned up and enhanced their landscaping front and back to add some utility value.  We did raise their rent about $200 more per month because they were not at market.

On the right side…?   Well we did a “make over”.

Below I have two videos that I did for the owner who contracted with one of our vendors to fix up the right side.   One is a “before” video and the other one is the “after”

The first one shows how it looked before… I am narrating and describing what I’m suggesting he do to get it rent ready.

Below is what it looked like BEFORE….

 

Below is what it looked like AFTER…

 

Let me know what you think.   We had a duplex close escrow just around the corner for $320,000 and it was in worse condition than this one here.

If you are hesitant about purchasing a property that needs work and you live out of the area…?  If you purchase through me, I’ll help you run the project at no extra cost and send you updated videos as the progress occurs.

We then will also manage your investment through our Property Management Company, Haven Properties.   We’re just a telephone call or text message away from helping you find the right investment.

In the mean time…?

Make it a Great Day…!

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

 

 

 

Back Yard Landscaping is Important in a Rental – Don’t Overlook It…!

Check out this graphic from the California Association of Realtors.

Back Yard Landscaping is important because some of these people also rent as well.   While this graphic applies to Home Buyers, trust me as a property manager and investor with 35 years of experience, don’t ignore the back yard for your renters.

A back yard with patios and landscaping is a cheap addition to “living space”.   With the great weather we have here, it makes sense to give the people who rent from you more value don’t you think…?

So if you want more money from your rental investment, fix up the back yard and watch how much your tenants appreciate it because they will pay you back with higher rents.

Click here for a picture of the back yard landscaping of a Duplex we manage for an investor that took our advice.    In a few more years the shrubs around this  yard will provide a lot more shade, privacy and of course more value if they ever decide to sell.

That is because they get more rent then other properties like this that do not have this upgrade.

Let me know what you think.

 

one cool thing yards

 

In the mean time…?

Make it a Great Day…!

Ed Favinger, Broker CRS, GRI, SFR, CDPE

A New Sacramento Area Duplex for Sale – 1st Day on the Market

Duplex for Sale in Rancho Cordova – The “sleeper area” for Residential Investment.

 

We’ve just listed for sale a Duplex located at 2740-2742 Don Juan, Rancho Cordova.

Both units have central heat and air, 1 car garages with laundry hook ups in the garage.   One side is a 2 bedroom 2 bath unit and the other is a 2 bedroom 1 bath unit.   The 2 bedroom 2 bath unit has a fireplace.

This property is in a nice area of Rancho Cordova and along this street are mostly single family homes.   20170828_155708There’s a well maintained gated apartment complex adjoining this property.

Click Here for a proforma cash flow analysis.   Rents for a 2 bedroom 2 bath unit should rent for up to $1,350 and a 2 bedroom 1 bath unit is at $1,200.

Call me at 916-203-1260 for more information about this property or any other residential investment in the area.

We also do Property Management, so if you are a new investor, call us and we’ll let you know what we can do for you.

In the mean time…?

Make it a Great Day…!

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

 

 

Sacramento Rental Rate Increases Highest In California…

Surrounding Suburbs, Folsom, El Dorado Hills, Roseville Affected too.

We’ve been experiencing Rental Rate Increases for a long time here in the Sacramento Region.  This includes not only Sacramento, but the surrounding communities as well, such as Elk Grove, Roseville, Woodland, Folsom, El Dorado Hills, Lincoln, Fair Oaks, and Carmichael to name a few.

The Sacramento Bee has a story today regarding Rent Rate Increases.  They are primarily talking about the Downtown/Midtown area which has experienced a “renaissance” because of the development in and around the Golden One Center.

Sacramento Rent Increase Rates Highest in the State of California
Sacramento Rent Increase Rates Highest in the State of California

The Sacramento Midtown Area has been very popular with the younger generation and some seniors because of the proximity to jobs, entertainment and restaurants.

As I have said in the past you almost have to “know somebody inside” to be able to get a decent rental these days.

To give you an idea of how strong the rental market is, we seem to average about 5 applications for every property we advertise.

An example of what I am talking about…?  As of today, July 26, 2017, here’s a short list of a couple of Duplex apartments being advertised by our Property Management Company with pending applications we are processing now.

Note to Duplex Investors or for that matter, any Residential Real Estate Investors from Single Family Homes up to Apartment complexes.   You’ll have several applications to rent if you decide to invest in the Sacramento area.

Until they start to build more Apartments and Homes this trend will continue given the great economy we have going at this time.

If you’re thinking of buying/investing in the Sacramento area, please call me at 916-203-1260 or send me a note at favinger@rwnetwork.com and let me help you find the best deal out there today.

If you’re an owner now and thinking of selling, contact me and let’s take a look at your investment property.   I can help you get the most out of your investment with some ideas you might not have considered.

In the Mean Time…?

Make it a Great Day…!

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