Realty World – Franklin Real Estate Group – Ed Favinger

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

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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This is what creates jobs

Why do I say that…?   Because it’s true.

I posted a story a couple of months ago about Mr. Philips and his inability to “qualify” for a decent loan because he is a “high net worth” investor that has “passive” income.  Click here for the back ground story.

In that story I wrote about the “multiplyer effect” that each Real Estate Transaction generates.   Because Mr. Philips didn’t do these new deals, non governmental stimulous funds were stopped from “spreading the wealth”.

So with the back ground story in mind, I’ve posted a video that will show you what happens when folks spend money on Real Estate.

Take a look at the video of the ”street scene” of a Duplex we sold to a Buyer that actually lives on one of this property.  He’s fixing up his place and look at what is going on around him.

Comments anyone…?

Make it a great day.

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