Realty World – Your Property Source

Take a peek at some potential Cash Flow Investment Properties that I looked at over the last couple of days.

I  have videos along with the potential cash flow figures for your review.   The two that are Bank Owned Duplexes are both in need of work but when you add in the amount it’s going to cost to fix these up, I think it will be worth it.

The reason why I say this is because the rental market is pretty good for properties that have good curb appeal, in good neighborhoods and are updated/upgraded a bit.

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3960 La Honda Way, Carmichael was just listed a couple of days ago. Click here for my “pro-forma” cash flow analysis and evaluation if you are an Investor.   This one is located on a Cul-De-Sac street consisting of mostly single family homes and is not all that far from Sunrise Blvd and the American River Parkway.   If you want a quick street view video I took click here for that.

I’ve done the estimated cash flow figures based upon a lower price because I think the Listing Broker has this priced a little high in my opinion for it to be a good cash flow deal for an investor.  However….  it is in a pretty nice area.

This property would be a great candidate for someone looking to buy their first home and an investment at the same time because they could live in one side and rent the other.  Click Here to see how little you would pay if you lived in one side and rented the other.

Go to RENTOMETER.COM to verify the estimated rents that could be obtained on this property or another property.

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FIXERS… FIXERS… FIXERS….

4207 Casa Blanca Lane, Carmichael is a Bank Owned/REO that is in need of some repairs.  I’ll let the video speak for itself, so Click Here for that.   Click here for the potential cash flow numbers based upon their asking price + the costs of fix up and improvment.  It’s listed at $153,000 and just came on the market on April 6th.

6808 Trovita Way, Citrus Heights is another Bank Owned/REO that is listed at $179,000 which had a quick offer that went into escrow,  but quickly fell out again and is back on the market.  Like the property at Casa Blanca, this one needs some work as you’ll see by clicking here for the video. Here’s the estimated Cash flow figures that I’ve prepared. Please keep in mind when you look at those figures that I’m adding about $30,000 in additional costs on top of the list price to give you a better idea of what it’s real cash flow figures would be.

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Come back here from time to time to get updates if you are looking for an investment like this or you can sign up for the RSS feeds.

Make it a great day….

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

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I have heard of these in the past and was blown away when a prospective tenant contacted us.

I have to say I am amazed that this actually goes on.   If you are looking for a home or an apartment these days on line, one of the most popular sites to visit is “craigslist‘.

Our Property Management company uses the internet as our primary source of advertising and Craigslist is just one of the sites we use.

What I think is happening is that these “Scam Artists” will take our advertising data, including the pictures we’ve taken and create their own advertisement with their contact information..!

Take a look at the difference in our ad that appeared on Craigslist and the one that was sent to me by a prospective tenant.  I think you’ll be surprised.  I’ve also got a copy of the email response she got.

Click here for our Ad –   Click here for the Scam Ad –   Click here for the response she got

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Here’s just a couple of tips to help you spot and avoid a scammer…

1.  If you looked at that response note she got, wouldn’t that message alone make you wonder..?  I mean they are currently in “West Afirca”… ? Nigeria maybe…?  Lots of scams have been from there so get a clue.

2.  The phone number is some weird foreign looking number & not a local phone call… but don’t think there aren’t local scammers too.

3.  They send you a note with the address information and they want you to fill out a form before they show it to you.  And… they say if you are approved they will tell you how to get the money to them.

4.  When you drive by the property to take a look at the neighborhood and you see a “for rent” sign in the front yard that has a local phone number from a property management company…? This would raise some red flags wouldn’t it…?

5.  The rent seems awfully cheap.. which brings to mind the old saying…”if it sounds to good to be true, it probably is”.  If you have doubts about the rent value, you can always go here to  RentoMeter and punch in the address and see if it’s too low or two or “just right”.   In this case you’d see what an incredible deal it would be if this was a real offering, but it’s not… it’s “too good to be true” isn’t it…

I hope this helps.

Make it a great day

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

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This term just bugs me… especially when used by Sellers and their agents.

I bring this up because a buyer asked a question on Trulia Q & A about “as is” and the fact that the property may not be worth what they were asking.

See what the responses were from me and other Brokers/Agents in the area to this Buyer by clicking here I think you will find what was said interesting and maybe you’ll remember it when you hear this often mis-used and mis-understood phrase.

In the mean time…?

Make it a Great Day…!!! According to the KCRA Channel 3 weather people, we’ve got some extended periods of sunshine coming our way next week.

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

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It’s an ugly thing now but it could be nice…!!

This is a Duplex in a Short Sale situation that is just waiting for the right person to snag. It’s located at 2597-2599 Capitales, Rancho Cordova, Ca.

Each unit has a Fireplace, 3 bedrooms, 2 full bathrooms, Central Heat & Air and 1 car garages.

The 2597 side(the left side) which is now vacant,  does have an updated/upgraded kitchen, updated bathrooms and the new vinyl type windows including the side yard slider.

It does however, look kind of nasty only because it needs carpet, some paint and new flooring.  In the video you’ll see,  I’m suggesting a new laminate style flooring in the “high traffic” areas and carpet only in the Living Room and Bedrooms.

The knock on this street over the years, at least for me, is that all of these duplexes are 3 bedrooms and 2 baths but with only 1 car garages each.   I mean,  who only has one car now…?  Since most families have 2 or more cars the problem is that there isn’t enough available parking space.  The end result…?  is you’ll drive down this street and more than occasionally you’ll see some of the tenants parking vehicles on the front yard grass, if there is any.   It just makes this street look awful.

To mitigate that problem,  I’m suggesting in the video that you extend the width of the driveway on both sides and you’ll be able to accommodate more vehicles.   You’ll see this idea has already been applied to the Duplex to the immediate right of this property.

Best of all…?   After you do the suggested repairs, you’ll have a nice property that will give you some decent cash flow.

I have estimates to install new carpet & the laminate at $2,000, the driveway extension at $2,500 and some landscape enhancements at about $1,000.  If you wanted to install new roll up garage doors add another $450 each.

The Roof needs to be replaced but that will be part of the deal that I’m proposing to be allowed as part of the short sale.

Click Here for the Video

For what you might expect as far as cash flow…?   Click here for the Pro-forma Cash Flow Analysis I think you’ll agree that it’s not bad.

Somebody bring me an offer today. The Bank has already approved the short sale.  We’re just waiting for a Buyer… is that you…?

Make it a great day…!

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

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