Landlords Market in Sacramento Area – Bad News If You Are a Renter…!

Rents Are Up “Big Time”…So Start Your Search Early ..!

 

If you’re a Landlord/Investor in the Sacramento Area and recently tried to lease or rent up an apartment you were probably shocked at the responses.  Old news to us in the Residential Investment and Property Management business.rental search

Rents are up so much in the Sacramento Area and supply so low,  if you’re a person looking to rent, you’d better start your search very early and have any credit issues resolved first, because it is a “landlords market”.

You may not have heard but Landlords and Property Managers are experiencing “multiple” applications for just about every unit that comes up.

It doesn’t matter what kind of property we’re talking about either.   Our Property Management company has so many people seeking a Home/Apartment to rent that we have set  up a  “showing/viewing” schedule each week posted on the website instead of making specific appointment times when prospective tenants call.

On most occasions now days we have several prospective tenants come to those showings and many of them will bring a completed application as well.

This kind of Landlord’s market will make most investors smile.   So if you are thinking of getting into the Residential Investment market, this is a great time.   No one seems to know when the rise in Rental Rates will stop because there’s a lack of supply.

With an improving economy with lots of jobs and a lack of supply,  even paying more for the investment won’t necessarily be a bad thing.

Call me at 916-203-1260 or drop a note to favinger@rwnetwork.com and we’ll see if we can’t place you into an investment that works for you.

Now… If you are a prospective tenant with good income…?  May I suggest you think about buying because it will be better for you in the long term.    Call me and we’ll see if we can’t get you “pre-qualified” with the various loan programs that are available to you.

In the mean time…?

Make it a Great Day..!

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

 

Looking For A Small Apartment Investment…? These Might Work For You…

Here’s My Profile of Two Small Apartment Buildings.

Lets start with a property that was on the market a few months back… didn’t sell,  is now back on the market for sale.

7761 Lialana Way, Citrus Heights, Ca  

An 8 unit complex consisting of all 2 bedroom 1 bath units.

They include  Central Heat and Air, small patios or balconies.   The listing agent says in the listing offering a New Roof was installed in 2007.

List Price:  $535,000

 

Click here for the estimated cash flow analysis

Click on the picture above for a short Video of the exterior of this property.

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The other one is located at 5432 Olympic Way, Sacramento, Ca 95842

This one is unique because it sits at the end of a cul-de-sac and consists of (6) 2 bedroom 1.5 bath Town House style apartments in a street comprised mostly of duplexes and another nice 8 units across the street.

There’s a large park that can be accessed by the tenants who live in this building.

 

List Price is $495,000

Click here for the estimated cash flow analysis.

Click on the picture above for a short Video of the exterior of this property 

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Both of these properties need some work.   I’m not talking major structural stuff.   No we’re talking about the curb appeal and deferred maintenance that exists on both.   These are the kinds of properties if fixed up, will generate a better class of tenant and enhance the neighborhood instead of being somewhat of an eyesore.

By the way… All of the numbers you see in those “pro-forma” cash flow analysis’ are “estimates”.

If anyone that checks in on this site and is interested in these or any other properties, please send me a note or call me.

In the mean time…?

Make it a Great Day…!

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

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A HomeSteps Bank Owned Duplex in the Rosemont Area – Just On the Market.

Priced Well Below Some Recent Sales Just Around The Corner

While lately there hasn’t been much in the way of Duplex inventory come on the market, when they do, I get out there as soon as possible to see what kind of condition it’s in.

target=”_blank”>click on the picture to see the video

This one located at 9647-9649 Arlisson Drive, Sacramento, 95827 sits among other Duplex properties and has a great location near some shopping and Hwy 50 access.   It has a 3bed/2ba/2car and a 2bed/2ba/1car configuration.

This one is perfect for an “owner occupied” situation where the owner lives in one side and rents the other.  I think if you were a young person starting out,  it would be real smart to rent out the 3 bedroom side and live in the 2 bedroom side of this Duplex.   However the figures I have below fit the scenario that the 2 bedroom side would be rented and the 3 bedroom side would be occupied by the owner.

Click Here to see how cheap you could live in this Duplex for such a small down payment using an FHA loan

If you are an Investor, you’ll have to wait about 15 days til approximately January 17th before you’ll be able to make a run at it,  because they are offering this property to “owner occupied” folks first.   After that… then the investors get a shot if it’s not sold by then to a Buyer that wants to live there.

Click Here to see the “pro-forma” cash flow analysis if you were to purchase this as an Investment Rental.

By the way… Click on the picture to get a Walk Through Video I did today around 11:30 or so today

In the mean time…?

Make it a Great Day…!

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

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It Looks Like Multi-Family Properties Are Back…. If You Own An Apartment Complex…?

 

It Might Be Time to Sell.

The Tower Bridge, built in 1935, a popular lan...

 

I’ve been doing a little reading about the market and ran across this article that I think you might want to take a look at.   The source is from an outfit called Bisnow.

While the story centers on the Denver Area, they also cite examples in Los Angeles and other areas as well.   Their observations are symptomatic of what is occuring in the rest of the country when it comes to Multi-family units.

CLICK HERE for the link to their take Apartment Market.

 

In the Mean Time..?

Make it a Great Day…!

Ed Favinger, Broker CRS, GRI,SFR, CDPE

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A Bank Owned Home in Cameron Park – Been Sitting There A While Too…!!

That’s because they had it priced to high – they’ve just lowered the price to $269,900 and now it’s getting action.

I was out there today looking at this home for a client of mine and thought I’d share this video with you.   This one is located at 3283 Cambridge Road, in Cameron Park.   It’s just a few doors away from the Cameron Park recreational area and lake.   You could walk there to see the 4th of July fireworks show they put on every year.

If you are commuter to Folsom or the work centers along Highway 50…?   This would be a great spot to land after coming home.

At around 2,200 sq.ft., it’s got 4 bedrooms 2.5 baths a monster lot with plenty of room for your boat or RV.

I’ll let the video do the talking… let me know what you think…

 

In the Mean Time…?

Make it a Great Day…!

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