Realty World – Your Property Source

If you are looking for something besides a Duplex or a Single Family Home, maybe one of these will work for you.

I’m not a real big fan of 4 plexes in this area because most of them don’t have the “amenities” that Single Family homes or Duplexes offer to compete for quality tenants and optimum rents.

There are exceptions of course so I thought I’d point these out to you, because they’ve both just come on the market.

I’ve got estimated cash flow projections for both of them.

• The Four Plex – 6165 Merrywood Drive, Rocklin, Ca.   2 bedrooms, 1 bath, 1 car garages each.  Listed at $388,800.       Click here for the estimated Cash Flow and a couple of pictures

• The Seven Unit Apartment building – 5925 Hilltop Drive, Carmichael, Ca.  (6) 2 bedroom 1 bath units and (1) 3 bedroom “owner’s/manager’s unit  - Click here for the estimated Cash Flow figures – While I don’t have interior pictures, I do have a brief exterior video of the premises so Click Here for that.

I hope you found the above informative.   If you’d like to know more  about getting into the small apartment market drop an email note my way or call me.   My contact information is below.

In the Mean Time…?

Make it a Great Day…!

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

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• Apartment construction surges as fewer buy homes (mercurynews.com)

There are 3 separate homes on this .830 acre lot  zoned R-5 (5 units per acre).

I had seen this property on the market last May prior to the listing being withdrawn but I never walked it until yesterday.   When I drove by it last year it was a rainy day and I didn’t feel like going up this private drive with all the cars that I saw parked up there because at that time I think all the units were occupied.

So the bank takes it back, they put it on the market with an agent at $113,000.   Mind you, the lot is worth more than that based upon recent comparable sales of vacant lots that I’m going to post here for you to see.   None of those lots had the same Zoning as this one.  

By the way click here for a map of the property

Click here for an Aerial view of the property

This goes to show you that there must be a pent up demand for great deals like this and I’m wondering how much it will finally sell for and what the plans are of the new buyer.  I think this is a deal where you could keep the one occupied unit and work on building two newer units and possibly splitting them off.

I will stay on top of this one because I’m curious myself.

Anyway… Since they’ve already received 23 offers, there’s not much point now in putting one in, except I’d like to see where it winds up.   As i pointed out earlier, I did go the property yesterday and did a video “walk through” of the property.  I was able to get into all the units except for the one that is occupied.

I’d like to know what you think of this deal.

Make it a Great Day…

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

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Take a look at the numbers on these two.

One of them is a Short Sale and the other is an REO/Bank Owned property that is in need of some work.   These properties showed still “Active” as of today.   I haven’t contacted the agents to see if they have offers or not, but if you look at the numbers, I can’t see why they are still available.

They are pretty decent deals based upon the assumptions in the “pro-forma” cash flow figures I’ve prepared here.

So check out the links below and let me know what you think.   Got some video here as well.

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• 3148-3150 Laurelhurst, 3 Bed/2Ba & a 2 Bed/2Ba, Fireplaces – Short Sale - Listed at $125,000 - Here’s a video of the exterior only.
• 10228 South White Rock Road, 2 bd/1ba ea side $79,100 –  A Beater/Fixer – See The Video..!_

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If you are looking for an investment I don’t think you can argue that these numbers look pretty good… don’t you think..?

Make it a Great Day…!

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

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Live Near Million $$$ Homes – Payments Cheaper Than Rent

I was out and about looking at property and have seen this one a couple of times on the MLS.   Click Here for the basic information if you’d like to see it.

This property is nestled in a pretty nice area with Oak Trees everywhere.   If you looked at the map on the link above maybe you noticed how close to the American River Parkway this property is near.  You owe it to yourself to drive by this property and the neighborhood.

This Duplex would be a great “owner occupied” candidate if you wanted a Single Family neighborhood feel.

I GOT VIDEO…!   I GOT VIDEO…!

Click On Here and join me on my walk around the property.

Click on this link to see the immediate neighborhood around this property

Cash Flow…?   You Want Cash Flow…? Or would you like to live in one unit and rent the other?   This is one property that could go either way.   You have to buy it for the right price though.  Although it’s listed at $319,900, it’s not going to sell for that in my opinion.   I think it should sell for something near or at $250,000.   If you look at the comparable sales data, there hasn’t been one sell for much over that,  if any.

Click Here for the comparable sales to prove my point.

Click the link below this paragraph for my projections – which includes costs to fix up calculated in.   I’ve got figures if you are a “Non-Owner Occupied Cash Flow Investor”  or you’re maybe a 1st time buyer and want to live in one side and “rent the other”.

Go Here To Get the Projections

If you’ve seen the projections and are curious about what you can get for rent in this neighborhood, go to this website that will give you the data.   It only asks you for the address and bedrooms nothing more, but it does show the location of the comparable rentals in nearby neighborhoods.

Let me know what you think.

In The Mean Time…?

MAKE IT A GREAT DAY…!!!

Ed Favinger, Broker, CRS, GRI, SFR         favinger@rwnetwork.com       916-203-126-

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