A Bank Owned Home and With a Pool – Will it Carry Itself…?
That’s the question an investor always asks me on a Single Family Home whether it has a pool or not.
The short answer is yes. Now, while they will not give you a big cash flow return from the beginning, they will pencil out enough that you won’t be writing a check every month to the bank. That is because we have such low interest rates.
This one is located at 106 Haskins Court here in Folsom. I previewed it yesterday. It’s a 4 bedroom 2 bath, with a 3 car garage, a pool, room for an RV or Boat Parking… You’ll see in the video below that it has some updates that include designer tile floors in all the “high traffic” areas and skylights in both bathrooms. There was a enough natural light in the house without having the lights on that I was able to get this video even though the power was shut off.
While I know investors are always looking for cash flow, buying a single family home in an upscale area like Folsom will cost you more to start. But, you will have a better class of tenant and one that pays the rent on time because of the location.
Don’t believe me…? I know the area because we do Property Management here in town as well.
Click here for a “pro-forma” cash flow analysis of this property.
Click Here for a Rent Comparison if you think I might be overstating what it might rent for.
Check out the walk through video below
In the mean time…?
Make it a Great Day..!
Ed Favinger, Broker CRS, GRI, SFR, CDPE 916-203-1260 favinger@rwnetwork.com
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- East Bay RV Sales Center Sky River RV Announces Bay Area RV Expo (prweb.com)
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- Single-Family Rental Demand to Remain as Market Recovers – Bloomberg (bloomberg.com)
Just a quick update regarding this home.
I had a client make a run at this property. There were, of course, “mulitple offers”. We put in an all cash offer of $15,000 over the list price and DID NOT GET IT… It’s a Pending Sale now and the only way that we’ll get a swing at it again is if the buyer that is in front of the line decides it’s not for them.
In that case the listing agent will come back to the other buyers that put an offer in and give us another shot at it.
This has happened in the past, so we’ll see.