The Area is so bad, if you have a “non-paying” tenant it’s probably better to keep them there occupying it, then to let it go vacant for a time.
Why would I say something as crazy as that? The reason is because it’s true in this particular part of Sacramento.
A Bay Area investor asked us to manage a home on San Jose Way in the Oak Park area. We took over last September. The owner had previously put in a tenant that subsequently moved out leaving the property vacant.
It didn’t take long for the vandals and thieves to start picking away at this place.
While we were working on getting it re-painted and fixed up, some nice folks next door thought they’d just “plug in” to our exterior outlet and have a long chord from our property to their pad. After finding this occurring a 3rd time, I got fed up and called the Sacramento Police Dept. They did come out although at first the 911 guy didn’t think this was a big deal. Well when they showed up, they wound up arresting several people including the owner from what one of the cops told me.
After getting them all out of that house, the property was posted and boarded up and has been since last October. The house across the street was in foreclosure and that was boarded up along with a house on the opposite corner.
Here’s the nice video for you to see…
What does the City of Sacramento do to help…? NOTHING…! They fee and fine the owner’s for maintaining a nuisance. They charge a “monitoring” fee to make sure you are keeping it clean. It doesn’t matter how much it costs the owner to get it fixed or how many times the property is broken into and things stolen like copper wiring or air conditioning units.
My point…?
HOW ABOUT SOME STINKING POLICE MONITORING of the area instead of just “sticking it” to the folks that have invested in this area.
Anyway….
Make it a Great Day…!
Ed Favinger, Broker CRS, GRI, SFR 916-203-1260 favinger@rwnetwork.com
We will follow the progress of an Investor with “videos” starting from the day they 1st take possession until they finish and place it back on the market. A “video chronology” if you will.
We just closed escrow on a Duplex located at 2728-30 El Caprice, Rancho Cordova on Monday, Feb. 27, 2012.
The folks that bought this property plan on fixing it up, possibly renting the units up and then placing back on the market for a profit.
To follow our progress, we invite you to come back here from time to time and get our video updates.
So here we start with the first Video… the day we walked through on Monday the 27 after the close of escrow.
Now you’ll see some progress on the 2nd video that was taken today, March 1st, around 11:00 this morning. I plan on visiting this property at least 2 or 3 times a week until it’s completed and then placed back on the market.
I hope you find this useful, informative and hopefully kind of fun to watch.
In the Mean Time…?
Make it a Great Day..1
Ed Favinger, Broker, CRS, GRI, SFR 916-203-1260 favinger@rwnetwork.com
If you hear someone say the Real Estate Market here is dead.. Trust me, they are “mis-informed”..!
It seems just about every time I find a property a buyer I’m working with has an interest in, we’ve had to compete with other buyers to get 1st in line. 
A home we listed “for sale” at 2925 North Platte Way, Sacramento just last Thursday, has generated 5 offers…! This home is located in the North Natomas area where there has been a flood of foreclosures and short sales the last several years.
No matter, there was an offer on the property the next day after it posted on the Multiple Listing Service. Folks… this is nothing new and almost any Real Estate Agent or Broker in the area will verify what I’m saying here.
Even the rough ones, the “fixers”, are selling. You go back a couple of weeks ago to a blog post I made regarding a unique investment property over in the Fair Oaks area that had 23 offers…!
Bottom line…? If you are in the market now, chances are you will experience this for yourself… that is, having to compete against other buyers for the same opportunity. You might even have to bid on several properties before you finally get the right one. So don’t get discouraged. It’s just the market we’re in now.
Make it a Great Day…!
Ed Favinger, Broker, CRS, GRI, SFR 916-203-1260 favinger@rwnetwork.com
We’ve got units from Roseville, Sacramento, Folsom, Lincoln and Cameron Park.
We all of a sudden find ourselves with a few rentals available. Some have just been purchased by new investors and have been fixed up and offered now for rent.
All of these require a 1 year lease. Many, if not most, have new carpet, paint and come with landscape maintenance.
To get to our list CLICK HERE
In the mean time…?
Make it a Great Day…!
Ed Favinger, Broker, CRS, GRI, SFR favinger@rwnetwork.com 916-203-1260
