An Investor had a property become vacant after which an Air Conditioning unit was stolen.
This is something that is happening now more and more these days, not just here in the Sacramento area, but all over the country.
The question was asked by an investor on Trulia. I thought I’d share the answers the gentleman got because our company manages a property that had the exact same thing happen after it became vacant.
By the way… This can happen in areas that are not only, what I guess you could call “lower income” neighborhoods, but in “upscale” areas as well.
Anyway… Click here to see what I and other Real Estate professionals had to say about this ever growing problem.
Make it a Great Day…!
Ed Favinger, Broker CRS, GRI, SFR 916-203-1260 favinger@rwnetwork.com
They did some good things… But I think they could have done just a little more.
The property I am talking about is a Duplex that was “Bank Owned” and in need of some “fix up” and located at 2324 Camino Gardens, Carmichael, Ca.
I previewed this property for a prospective investor and we did in fact make an offer on it. We were out bid and now this property is back on the market. It closed escrow on December 15, 2011 with the reported Sale Price of $161,000.00.
Fast foward to today and the folks that own it now have placed it back on the market. I got the notice of a new listing in an MLS update and decided to take a look. I wasn’t really sure if this was one of several Dupelxes on this street that I had seen recently or not and you’ll notice I mention that I’m not sure…
Anyway, when I got back to the office that day I did find the “before” video so you’ll get to see both what they started out with and how it ended.
Here’s the “before” video
Here’s the “after” video – Let me know what you think
In the mean time…?
Make it a Great Day..
Ed Favinger, Broker CRS, GRI, SFR, favinger@rwnetwork.com 916-203-1260
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.
Here’s the question asked by a buyer on Trulia.com “If I buy and rent out a home (with a pool) in EDH who pays which utitlies – espcially the water bill? Are there any laws regarding this?”
Who pays for utilities has become more of an issue these days in our Property Management business. There was a question asked by a prospective investor in the El Dorado Hills market as to who pays them.
If you would like to see what the answers that I and other professionals gave this investor, CLICK HERE…!
Make it a great day…
Ed Favinger, Broker, CRS, GRI, SFR 916-203-1260 favinger@rwnetwork.com
