Realty World – Franklin Real Estate Group – Ed Favinger

But, when I say nice, you do have over look the landscaping that’s been ignored.

I was at this property yesterday, located at 2300 Imran Drive and took a video of the 3 bedroom side.  As you see this unit is located right on the corner of Imran and Bell Street.  I love “corner lots” because you can do a lot with them.

I have,  in the past,  profiled the Bank Owned/REO Duplex across the street that faces Bell Street.   If you go to “Ed’s Hot Picks page and scroll down until you find 1000 Bell Street, you’ll get the information on it along with a video of both sides and you’ll see the Imran duplex in the background.

Imran Drive is Short Sale which,  until very recently,  had a Pending Sale waiting for the Bank to approve it.    As is in many of the  Short Sales, the buyer got tired of waiting for that approval and was still out looking for other property.

In this case, time went by and that Buyer did find something else they liked better and that they could close on now, according to the listing agent.

For a Pro-Forma Cash Flow Analysis of 2300 Imran Drive,  Click Here. I’m estimating the rents for the 3 bedroom side at $1,150.00.  When you look at the video, you’ll see that it’s not in bad condition and that the back yard has some potential to be a nice spot.   Go here for the video of the right side.

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Here’s another Short Sale Duplex in a nice area that I profiled a while back.   It’s “back on the market”.

The property is located at 7130-7132 Grady Drive, Citrus Heights, Ca 95621.    Click here for a “pro-forma” cash flow analysis.   Keep in mind that these figues do not include the cost of a new roof, but even if it cost $10,000 to replace it, in my opinion, this would still be a decent deal in today’s market.    Click here for a Map Link to show you the major intersection that is nearby.   The City of Citrus Heights city hall, police station and lots of shopping are located about a mile away if that.

If you have questions on any of the properties I have profiled, drop me a note or call.

Make it a Great Day…!

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

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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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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

You Want the Cash Flow Numbers…?  I Got The Numbers –  Check Them Out…!

First the Short Sale Duplex

I was out and about and came across the Duplex located at 7535 Saint Philomena Way, Citrus Heights.

This thing has been priced so low that it will draw several multiple offers and I’m sure it will go into escrow for at least $180,000.   Now I wasn’t able to get into the units because they are occupied..  At least one is, because when I was there taking pictures a resident was leaving one side.

I”ve based the Cash Flow estimates at a price of $180,000.   Click here for a PDF File for more information.

Click here for a Video that I took that will show the neighborhood better than the Street View link I posted above.  The Street View was taken during Winter months and doesn’t show as well as the Video I took.

Now below is the information for the Bank Owned Duplex

It’s located a few doors away at 7543-45 Saint Philomena.  The “street view” will start you on the way out to Fair Oaks Blvd.,  so when you get on it, go to the left and around the corner to see the property.   By the way… 0ne side is occupied and the other is just about “rent ready”.     For the Pro-forma Cash Flow Figures Click Here.

If you don’t like these…?

I”ve got others that might pique your interest.   Go to “Ed’s Free List” page for more.

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