If you don’t want a “fixer” this might be what you are looking for.
This Duplex just recently fell out of escrow. It’s a long story, but suffice it to say, it wasn’t the fault of the property. In fact, the Buyer’s appraisal came in at the List Price of $214,500.
The former Buyer made some mistakes in obtaining her loan on time. So when her time to close came and went with no loan approval, the Seller elected to withdraw from that contract and put it back on the market again.
So here’s your chance.
I’ve got a video below and if you want to see what the numbers look like, the “proforma cash flow” analysis is available if you CLICK HERE.
If you have any questions regarding this or any other Residential Investment Property in the Sacramento Region, drop me a note or call me.
In the mean time…?
Make it a Great Day…!
Ed Favinger, Broker, CRS, GRI, SFR, CDPE favinger@rwentwork.com 916-203-1260
I don’t care if you are looking for a Single Family Home, a Duplex or even a Small to Medium sized Apartment Complex.
I think it’s called a “feeding frenzy“. Because, if you ask just about any active Real Estate Broker or Agent in this area, they will all tell you the same thing. There’s really no inventory to speak of. And by the way… This is “old” news to those of us in the business.
The Sacramento Bee is finally getting the memo… They came out with a story about investors just a couple of days ago. Check out their report.
I’m actively working with several investors that have been looking for properties all up and down the ranges. From a Custom Home in El Dorado Hills to Duplexes in Rancho Cordova.
Click here for a quick story regarding the Custom Home with the multiple offers on 820 Katie Way, El Dorado Hills.
One more little “anecdotal” story from my own experiences.
Yesterday, a Duplex at 6938-38 Tarocco Way hits the market in Citrus Heights. Click here for the “pro-forma” cash flow analysis. Incredibly as I predicted, to a couple of my clients, this place didn’t last long. The agent wouldn’t tell me what its “pending price” is, but he did say they had 6 offers on it. Not bad for just “one day” on the market.
By the way… take note on the “pro-forma” that I had the offer price at $200,000 because based upon their income it pencils out pretty nice. We’ll have to wait and see what the final “sales” price is.
In the Mean Time…?
Make it a Great Day..!
Ed Favinger, Broker, CRS, GRI, SFR 916-203-1260 favinger@rwnetwork.com
Did you hear this story about some angry tenants suing the owner…?
We as Property Managers do our best to make sure that any home or apartment that we lease up is in good condition. This would include making sure all the appliances work, smoke and carbon monoxide detectors are installed.
We also like to make sure its clean and ready for occupancy.
As part of the process we do an extensive review of the Tenant Application(s) that include a credit/past evictions check, employment and income verification. We might even ask for copies of bank statements if you are self employed to verify your ability to pay the rent.
But you know…with all that, there’s something new we’ve added as well… and that is the “google search” of your name if you apply to rent one our properties. Because, prior to doing a “google search”, and even with all the other research we’ve done, you can never predict with a 100 percent accuracy what a tenant will be like. We feel that every bit of information we can get about a person will help us in our search for the right tenant.
So with that said, do you think the folks that are the subject of this article would be great tenants…?
Another “Craigslist” story I have to share… even have a copy of the “email exchange”
I got a call from a lady a few days ago inquiring about a home for rent at 1327 Copping here in Folsom. It’s a 5 bedroom 3 full bath home, about 2500 sq ft and rents for $2,350.oo per month. This lady said she had answered the ad that had a rent offered at around $1,100 per month.
I think most people can spot a “rental scam” but maybe some can’t, so here’s some things that you might want to employ if you are looking to rent a home somewhere.
If the price of the rental is so much lower than other homes you have been looking at..? It might be a scam.
If the Owner/Landlord only communicates with you by email..? It might be a scam.
If the Owner/Landlord will only accept cash or a “wire” transfer..? It might be a scam.
If the Owner/Landlord is “out of the country”…? It might be a scam.
If you “google” the property address and find more contact information besides the person you’ve been communicating with…? It might be a scam.
If the Owner/Landlord meets you at the property and doesn’t ask for an application and is ready to give you the keys right then and there if you give him the money…? It might be a scam.
If you’d like to see copies of an email exchange between a “scam-ster” and the “mark”…? Click Here
In the mean time…?
Make it a Great Day..!
Ed Favinger, Broker, CRS, GRI, SFR 916-203-1260 favinger@rwnetwork.com
