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…?
If you hear someone say the Real Estate Market here is dead.. Trust me, they are “mis-informed”..!
It seems just about every time I find a property a buyer I’m working with has an interest in, we’ve had to compete with other buyers to get 1st in line.
A home we listed “for sale” at 2925 North Platte Way, Sacramento just last Thursday, has generated 5 offers…! This home is located in the North Natomas area where there has been a flood of foreclosures and short sales the last several years.
No matter, there was an offer on the property the next day after it posted on the Multiple Listing Service. Folks… this is nothing new and almost any Real Estate Agent or Broker in the area will verify what I’m saying here.
Even the rough ones, the “fixers”, are selling. You go back a couple of weeks ago to a blog post I made regarding a unique investment property over in the Fair Oaks area that had 23 offers…!
Bottom line…? If you are in the market now, chances are you will experience this for yourself… that is, having to compete against other buyers for the same opportunity. You might even have to bid on several properties before you finally get the right one. So don’t get discouraged. It’s just the market we’re in now.
Make it a Great Day…!
Ed Favinger, Broker, CRS, GRI, SFR 916-203-1260 favinger@rwnetwork.com
