Realty World – Franklin Real Estate Group – Ed Favinger

Yea…. Can You Believe That…?

Here’s the description

This is a 3 Bedroom, 2 Bath with a 2 car garage,  fireplace, Central Heat & Air, updated Bathrooms, a Patio and a Covered Deck in the Backyard.

It’s in a great area and would be the perfect First Time Buyer investment because the payments are lower than what you would pay in rent for the same thing.

There’s Always a catch though,  so here it is…

It’s a duplex which means you will have a common wall with a neighbor on one side.  Yea, I know…  Most First Time Buyers want a “detached”  Single Family House for your first home.

Here’s My Opinion for you to think about as to why you should consider a Duplex.

#1. Remember your neighbor will be paying for a big chunk of the payment on your new home if you bought it.

#2. This would be an Investment as well as Home and there are some real tax benefits to consider.  I won’t go into them here, but your accountant or tax preparer can give you lots of information about this.

#3.  You don’t have to live there forever…!  When you look at that “pro-forma” cash flow sheet below that I have prepared,  you will see that your down payment isn’t all that much more than if you were to rent it.   Why not live there a year or so and then rent the side you moved into.   During that time you would have fixed it up some and it would be a great rental to build a “nest egg” or a real estate portfolio.   How much money would you save each month…?

Click here for a PDF file that will give you an idea of what I am talking about.  Click Here for a Video of the Right Side and then I think you’ll see what a nice home this could turn out to be.

Anyway… If you are a First Time Buyer, give this some thought.   There are several duplexes out there that are in Single Family neighborhoods.
Make it a Great Day…!

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

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I Know This Property – Brought a Buyer to it in 1991.

The folks that bought this property back then did do some interesting things by adding some nice decking in the rear that helps create extensions of the living area.

I have a video that I took about a week or so ago you should take a look at.   This property shows just awful from the exterior and needs to have a “make over”.   I’m sure the owner knows it, but doesn’t have the resources to really do  anything  about it.  In other words, the lack of “cash flow” made it almost impossible to keep up.

This is a typical situation in this market.  I know the current condition of this property is the result of an over heated market,  high debt and the fact that it’s hard to make improvements or even maintain,  if you don’t have an adequate “Cash Flow“.

Click Here for a Pro-Forma Cash Flow analysis.   I am showing a 40% down payment on this one because the rules change for anything over 4 units when it comes to financing.

Take a peek at this video because I do walk the property a bit as much as I could without disturbing the residents there, although a dog did bark at me.

I think you’ll agree with me that the curb appeal is just awful and it doesn’t need to be.   It will require an investment in landscaping and I think a big upgrade should be in “covered” parking.

Let me know what you think…?

In the mean time…?

Make it a great day…!

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

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You Want the Cash Flow Numbers…?  I Got The Numbers –  Check Them Out…!

First the Short Sale Duplex

I was out and about and came across the Duplex located at 7535 Saint Philomena Way, Citrus Heights.

This thing has been priced so low that it will draw several multiple offers and I’m sure it will go into escrow for at least $180,000.   Now I wasn’t able to get into the units because they are occupied..  At least one is, because when I was there taking pictures a resident was leaving one side.

I”ve based the Cash Flow estimates at a price of $180,000.   Click here for a PDF File for more information.

Click here for a Video that I took that will show the neighborhood better than the Street View link I posted above.  The Street View was taken during Winter months and doesn’t show as well as the Video I took.

Now below is the information for the Bank Owned Duplex

It’s located a few doors away at 7543-45 Saint Philomena.  The “street view” will start you on the way out to Fair Oaks Blvd.,  so when you get on it, go to the left and around the corner to see the property.   By the way… 0ne side is occupied and the other is just about “rent ready”.     For the Pro-forma Cash Flow Figures Click Here.

If you don’t like these…?

I”ve got others that might pique your interest.   Go to “Ed’s Free List” page for more.

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BY THE WAY….   Now is the time to check your Air Filters and perhaps have your HVAC serviced.

Make it a great day…!!!

Ed Favinger, Broker, CRS, GRI, SFR        916-203-1260          Buying a Home with an Older HVAC Unit?  dougfrancis.com)