Buying an Investment Property in Sacramento Area…

“I want to buy an investment property in Sacramento area and would appreciate any insight into it where schools are good and I can get 10% ROI. Area should have potential for future appreciation. I want to invest less tha 300K”

The above question was brought to our attention on Trulia.     See what I and other Real Estate people had to say by CLICKING HERE

I’ve answered this question before and have my opinions along with those of other Brokers in the area.    By the way, if you don’t know, Trulia is a website that can be a great resource regarding the real estate business.

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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It’s Almost Christmas..!


IT’S NEARLY CHRISTMAS

I write this in September
And I can already see my breath
Because the temperature is falling
To fifty degrees or less;
There are frosted mornings
And skies are turning gray;
Next thing, there’ll be snowdrifts
Fit for a sleigh.

In stores, they’re gearing for Halloween
With pumpkins on display;
After October 31, we’ll count the days
To shop til Kris Kringle Day;
Just when I thought the craze was over
And the presents were put away,
Alas! I hear Santa “ho-hoing”,
It’s nearly Christmas Day.

Christmas is a magical time,Is there any doubt?
But I’m going to need a psychotherapist
To get my anxeties out!
The sugarplums might be dancing,
But they’re messing up my mind;
The silver bells aren’t doing much
To help me unwind.

September comes and October goes,
November is just a glance;
Once again, there’ll be invitations
To another holiday dance;
I’ll decorate the Christmas tree
With icicles, stars, and lights,
But I’ll need a ton of eggnog
To get me through this night!

–Joel Bjorling, Gilson, USA Age 58


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A Lesson In The Costs of Not Maintaining Your Rental Property

Don’t Let This Happen to You…!!! You and Your Property Could Be on the Evening News and the Front Page of the Local “Fishwrap”

I’ve been in the Property Management business for a while now.  You know,  it never ceases to amaze me how some owners of Residential Income Property fail to properly maintain their investments.

Over the years local governments have been taking on more and more responsibility of regulating Apartments and other Residential Rental properties, because of consumer complaints

If you are a “seasoned” investor or someone that is thinking about getting into the business, don’t do what these owners are alleged to have done.

  • Don’t cover up a potential “mold” issue
  • Don’t ignore leaking roofs or other “water” intrusions
  • Don’t ignore vermin such as cockroaches, mice/rats and now “bedbugs” that have made a comeback

The Owners of this apartment complex in Rancho Cordova may have thought that because some of these tenants are “low income” they could ignore or postpone these maintenance issues.    They have,  as we say “received a rude awakening”.

The Owners have come under fire from a group of tenants that are suing them for $10,000,000.   To make matters worse, the lawyer they hired is an attorney that is well known in the State of California for bringing these kinds of lawsuits against landlords.   It was bad enough that the City of Rancho Cordova got involved, but they now face this big storm of a lawsuit.

So if you don’t want to be the lead story on the local Fox 40 News Station,( Click here for that video) or on the front page of the Sacramento Bee (Click here for that story) then I hope you will take to heart what I’m saying here.

While the bottom line may hopefully result in the Insurance Company settling this for a lot less than $10 Million,  do you want to go through the hassle and have your name smeared in the news just to save a couple of bucks on something you should have known better..? Because if you weren’t aware of it before, there are lawyers out there just itching to take a case like this against you,  “the landlord”.

Are you catching my drift here…?

Now….In the Mean Time…?

Make it a Great Day…

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Seller Wants To “Rent Back” After Close on a “Short Sale”…What Should I Do…?

This question was raised on Trulia by a Buyer confronted with this “Dilemma” on the purchase of a home.

Even in the “best” of times or a “normal” real estate market, this situation is always a bit stressful for a buyer.  If I was a buyer in this situation I would also have some “angst”.

If you’d like to see what I and other Real Estate professionals had to say about it…  I’ve provided the link to all of our answers below.

By the way… this question was from a local person here in the Sacrament area, but this buyer got answers from all around the country.

ENJOY THE READ BY CLICKING HERE

In the Mean Time…?

Make it a Great Day…!

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

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