More Craigslist Scams – If You Are a Landlord or a Prospective Tenant – Beware…!

Another “Craigslist” story I have to share… even have a copy of the “email exchange”

I got a call from a lady a few days ago inquiring about a home for rent at 1327 Copping here in Folsom.  It’s a 5 bedroom 3 full bath home, about 2500 sq ft and rents for $2,350.oo per month.   This lady said she had answered the ad that had a rent offered at around $1,100 per month.

I think most people can spot a “rental scam” but maybe some can’t, so here’s some things that you might want to employ if you are looking to rent a home somewhere.

  • If the price of the rental is so much lower than other homes you have been looking at..?  It might be a scam.
  • If the Owner/Landlord only communicates with you by email..? It might be a scam.
  • If the Owner/Landlord will only accept cash or a “wire” transfer..? It might be a scam.
  • If the Owner/Landlord is “out of the country”…?  It might be a scam.
  • If you “google” the property address and find more contact information besides the person you’ve been communicating with…?  It might be a scam.
  • If the Owner/Landlord meets you at the property and doesn’t ask for an application and is ready to give you the keys right then and there if you give him the money…? It might be a scam.

If you’d like to see copies of an email exchange between a “scam-ster” and the “mark”…?  Click Here

In the mean time…?

Make it a Great Day..!


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

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Update on the “Fix and Flip” Duplex

While it may not look like much today, there’s been a lot done.

We took possession of this Duplex at 2728-2730 El Caprice, Rancho Cordova on February 27th.

To date, we’ve got the hardwood floors installed in all the high traffic areas, the tile floors in the entry and all the bathrooms, holes in the ceilings and walls repaired and installed the new base boards.

We’ve taped and textured, installed the new sliders to the back yards and have started the interior painting.

In addition, we’ve laid some concrete down to enhance the size of the patios and we’ve squared off the exterior areas as you’ll see in the video.  We will be doing some nice things in the landscaping department which is something a lot of investors overlook in my opinion.

To See Where We Started From, CLICK HERE for the beginning video and the 1st update that was done I think on the 1st of March.

In the mean time…?

Make it a Great Day..!

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

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What If I Invest in a Property in Oak Park Sacramento…? Don’t Look to The City of Sacramento for Any Help…!

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


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Watch us “Flip” an Investment Property…!

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

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A Follow Up Note on a “Flip” I profiled a couple weeks back…

“After further review” as they say in the NFL….

Folks… I was out showing property to another investor and to give him an idea of the market,  I took the time to shown him the properties that I’ve profiled here along with others.

We viewed this one on Camino Gardens and thought there was a lot lacking… such as kitchen drawers that weren’t working etc… but you know what… It’s a Pending Sale…!!

Click Here for the videos before and after on this property and you’ll see what I’m talking about… There are other “little things” they didn’t do… but that didn’t stop an investor from putting in his offer.

And.. I just finished an interesting phone call from the listing agent regarding the property he has listed on Imran Court that I profiled a couple of days ago…  It’s wildly overpriced but he’s had a couple of offers on it already..!

Click here for that one… I’ll let you know if gets it into escrow.

In the mean time…?

Make it a Great Day


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