Realty World – Franklin Real Estate Group – Ed Favinger

A Duplex with 3 Bedrooms 2 Full Baths and 2 car garages each side.

This is one of the neatest Duplexes I’ve seen in a while.    They’ve priced this one right and it’s in a super neighborhood.

Click here for the “Street View“ from Google and see if you don’t agree with me.

This is a quiet street.   I took this photo on Friday, April 23rd at about 6 PM.  There little kids were out playing and riding bikes…

If you are an Investor click here for my “pro-forma cash flow analysis”.  These are estimates only of course.   I think this one is going to get a lot of attention and most likely,  multiple offers.

Now if you are thinking about living in one side and then renting the other side, I think I can show you here why this would be a good move.   I don’t know of any where in the area that you could buy a home and have payments less than $600 per month.

About the existing loan that has to approve of this Short Sale.

According to the Tax Assessor, the existing loan was just a bit over $500k.  The folks that bought it back then, paid $630,000 for this property.   The Assessor also shows that the loan is held now by Bank of America the successor to Countrywide.    If you want to know some “inside” baseball, Bank of America is one of the slowest when it comes to processing a “short sale“.

However, the wait might be worth it, especially if you are thinking of living in one side and renting the other.

Make it a great day…!

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

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In Your Search for a Duplex Investment,  Not Only Should You Consider the Surrounding areas – Consider it’s current setting – I’m talking “Extended Living Areas” that Add Value.

Why do I say that…?   Well if you haven’t noticed we are in a recession with an unemployment rate in the Sacramento Region around 12-13%.   This means people are going to have less money to spend on nights out on the town, vacations and other entertainment venues that these folks might in good times frequent.

You’ve heard of “Stay-cations”… vacation at home.   And if you are going to be in the Landlord business, consider that if folks have to stay home, they’d like a nice setting to enjoy.

An advocation that gives me a lot of pleasure is “landscaping” a property.   It’s important to me and I believe this is one of the big items I think many investors choose to ignore or go on the cheap.   One comment in a basic landscaping book I got at Home Depot years and years ago spoke about the importance of landscaping.  ”Landscaping when done right acts as an extension of the living area.”

Patios outside a Dining area for example is a nice place to have your BBQ grille and Patio Furniture.   A small patio outside a bedroom slider would be a nice place on a Saturday or Sunday morning to read a paper and slurp your “cup of joe” wouldn’t it….?  Or…? What about having a glass if wine with your friends over on a nice evening with the sun just about to go down on a well appointed deck or patio.

See the two examples below and let me know if you see the “potential” that a good landscape cleanup and enhancement would do for them.    I have videos of both  along with the usual “pro-forma” cash flow analysis.

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910 Bell Street, Sacramento - This property is on the corner of Bell Street and Villanova Circle.  It’s located near a regional park, Cal Expo, Arden Fair Mall, entertainment and restaurants.  This one has some mature landscaping in place that just needs to be properly cared for and along with the usual repairs that is required on these REO/Bank owned properties, if you took my suggestions, this would be a long term keeper.

Click Here for a Pro-forma Cash Flow Analysis

Click here for a video of the Bell Street Side Click here for the Villanova Circle Side

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3622-3264 Sutterwoods Way,  Sacramento, Ca.  I used to own a property just like this one about 8 years ago so I know the street.   This one also has a unique corner lot setting with a lot of shrubs and trees.    The interior of this one is not in bad shape.  The appliances don’t appear to be too old.

Click Here for a Pro-Forma Cash Flow Analysis

I hope you see the potential in these two potential investments.   A first time home buyer I think could make a nice home out of one side and rent the other by the way.

Make it a Great Day…!!!

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Prices seem to be holding – but I’m seeing more of them come back on the market.”

Let’s start with a couple of recent new listings that I like.   The reason why I like the following listings is that they have 3 bedrooms and 2 full baths on each side.

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8907-8909 Montoya Street, Sacramento - This property was on the market last year as a “short sale”.   I guess that failed and it apparently went all the way to foreclosure sale and is now an REO.  I think it’s priced a little high at $209,900 since it backs up to Hwy 50 and is a bit noisy.

Click Here for a Proforma Cash Flow Analysis

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9265-9267 Corinthian Circle, Sacramento – This is a “Short Sale” and is currently listed at $160,000.  This has been one of my favorite streets of Duplexes.   It’s located within walking distance of the Butterfield Light Rail Station.

Click Here for a Proforma Cash Flow Analysis

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This Bank Owned Duplex was a pending sale for a while, but has since been placed “back on the market”.

1000 Bell Street, Sacramento, Ca – 2bd/1ba ea side - Listed at $177,550 –

Click here for a Video of the Right Side –  -  -   Click Here for a Video of the Left side

I’ll have more posted later on this page so check back.  In the mean time…?

Make it a Great Day..!!!

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

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Here are a couple of Duplexes that are both unique.

One of them just came on the market about a week or so ago.   I drove by to view the area and while I was out there taking pictures of the exterior, one of the tenants came out and we had a conversation.   She likes the area, but the building has had some issues, notably the roof.  

If you look at the pictures of the property, you’d never know.   She did say that an inspector did come out there and she was told that the roof would need some major work.   The owner has been unable to make the repairs so she’s been putting up with a leaking roof.   That’s why she said she was looking for a new place.

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.  

By the way, I got an email from the agent earlier today telling me that this property has 2 loans on it.   She also said she had several offers coming in,  so we’ll see how that one goes.

The other one, located at 7542-7544Saint-Philomena Way , is a Bank Owned or REO Duplex that came on the market last October.  Since then it’s been in and out of escrow a couple of times and just came back on the market a coule of days ago.   I did a profile of it back then including a Palm Video.   

Make it a great day…

Ed Favinger, Broker CRS, GRI           916-203-1260             email me at:   favinger@rwnetwork.com

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