This is what creates jobs
Why do I say that…? Because it’s true.
I posted a story a couple of months ago about Mr. Philips and his inability to “qualify” for a decent loan because he is a “high net worth” investor that has “passive” income. Click here for the back ground story.
In that story I wrote about the “multiplyer effect” that each Real Estate Transaction generates. Because Mr. Philips didn’t do these new deals, non governmental stimulous funds were stopped from “spreading the wealth”.
So with the back ground story in mind, I’ve posted a video that will show you what happens when folks spend money on Real Estate.
Take a look at the video of the ”street scene” of a Duplex we sold to a Buyer that actually lives on one of this property. He’s fixing up his place and look at what is going on around him.
Comments anyone…?
Make it a great day.
Ed Favinger, Broker CRS, GRI 916-203-1260 favinger@rwnetwork.com
Somebody was mad when they moved out of this one.
Because it looked like the Tazmanian Devil had been in one side.
I stopped by to see this duplex yesterday and made a video of both sides. This is a hot deal because when I arrived and got out of my car an investor was already walking about the property. Since I was going in he asked if I would allow him in with me, which I did. While we were there another lady asked if she could come in and sneak a peek too.
This property is listed at $88,000. The investor and I both agreed upon our inspection that we estimated it would take about $20,000 to fix it up to a nice “rent ready” condition. The Pro-Forma Cash Flow Figures are here. These figures are based upon a “hypothetical” sale at $120,000 because that’s probably what you will have into it when it’s all said and done.
You will either gasp or at least raise your eyebrows when you see what someone did on the left side of this Duplex.
Click Here for the Left Side Video
Click Here for the Right Side Video
Actually… it’s really not that bad if you are a seasoned investor, because I have seen much worse.
Make it a great day…
ED FAVINGER, Broker, CRS, GRI Favinger@rwnetwork.com 916-203-1260
If you are thinking of doing this… You’ve got company…
See the latest from the Sacramento Bee’s Real Estate reporter Jim Wasserman.
Comments anyone…?
Make it a Great Day…
Ed Favinger, Broker CRS, GRI favinger@rwnetwork.com 916-203-1260
Cash May Be King – But You Might Be Paying More
I’ve put together the latest Closed Sales Report for the month of January 2010. As usual you’ll see there is a lot of cash floating around in the Sacramento County Duplex/Four-Plex Market. But… if you look at the statistics below the average List Price/Sales Price Ratio shows that on Average, Cash Buyers have been paying more.
That’s kind of amazing… isn’t it…?
Check it out.
I’ll have the entire closed sales list posted later today hopefully.
Make it a great day..
Ed Favinger, Broker CRS, GRI favinger@rwnetwork.com 916-203-1260
