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Some Interesting New Listings That Have “Piqued” My Attention… might pique yours too

I’ve been out and about in the last few days looking at new inventory and reviewing some that have quickly sold and then have fallen out of escrow.    The list below are just a few that I’ve seen lately I wanted to pass on.  They are in various areas… all of which I think would be decent investments,  if purchased at the right price of course.

By clicking on the address of these properties you will open up a “pro-forma” cash flow analysis in PDF format.   I have some videos as well

Let’s start with a Short Sale first.

2325 Irma Way, Sacramento, Ca 95825 – Listed at $160,000 –  Nice area of duplexes – According to the listing agent they will consider a new roof credit at full price.   I have a flyer here with some pictures of the interior because I couldn’t get in to see the interiors.  It was a nice quiet morning that I was over there and I think you’ll be impressed with the neighborhood.   Here’s a video of the exterior.  I was there at about 11 or so Saturday, October 1st.

Below are some Bank Owned/REO types of deals. These are a bit rough.  I call them ”beaters” – but they are more commonly known as “fixer uppers” – .

7576-78 Cook Avenue, Citrus Heights, Ca – Listed at $127,900 – This one needs a bit of work.   The Cash Flow figures are based upon the price as if it were fixed up.  I’m guessing it needs something around $20,000 to really do it right.  But after you are done, you’ll have a real nice place and no problem leasing this up.   Click Here for the Video Walk Through.

7214-16 Grady Drive, Citrus Heights, Ca – Listed at $136,900 – As in the above situation, the cash flow figures are based upon the price as if it were fixed up.   I have told clients over the last couple of years that the average you’ll spend on one of these deals will be between $7,500 to $10,000 per side to get these in a really nice “rent ready’ condition.   Click Here for the Video Walk Through

If these properties interest you, drop me a note or call me at any time.

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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The New Obama Care Tax is coming – Check out the link that explains it.

Well I’m sure by now,  if you are a Real Estate Investor and have not been off the planet for the last year,  you’ve heard that the Federal Government has passed a new Health Care law.

While we can debate the issue of it’s passing, the fact of the matter is that barring a repeal by the new congress, there will be an increase in taxes to pay for this new program.

Anyway, I got this Brochure from the National Association of Realtors that explains it pretty good.

CLICK HERE FOR YOUR COPY.

Make it a great day

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

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Ouch….!!!   This man lost $137,000 and is upside down on his “investment”.

I have added  the link to the answers to a  Trulia Q&A question that was asked by an investor in El Dorado  Hills, California  that had purchased a property at a courthouse auction.

While this case is a little unusual, I think from the answers that were given by me and other professionals, you will come away with the idea to do your “due diligence” first before you invest in this area.

His dilemma is not one that I think any of us would like to be in.

Click Here for the story and see the answers that were given and let me know what you think.   You might want to check back on that link because chances are you will see new answers and advice given.

Make it a great day….!

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

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Two new listings I profiled here recently closed – All Cash – No Financing

When I profiled these Bank Owned Duplexes just about a month ago it didn’t really surprise me that both of them went to a Pending Sale status shortly after I posted the article.

One of them, 7444 Robmar Court, Citrus Heights, sold for the list price and the other one, 7720-7722 Sunset Avenue, Fair Oaks, closed escrow with a sales price of $285,000 which was four thousand dollars over list price.

7444 Robmar closed escrow on September 3rd and Sunset closed escrow just a few days ago on September 16th.

Bottom line is that if you like one of these properties and they have just come on the market, chances are you will be up against “all cash” investors.

If you are thinking of getting into this market, be prepared to do battle with other investors looking for these great deals.

Make it a great day…!!!

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

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