Sacramento Duplexes for Sale – They Are Still a Good Buy…!

Prices Are Up But So Are Rents…!

If you have been following the Real Estate market when it comes to Duplexes you may have noticed the prices to get into one are up from just a year ago.

Available Sacramento Duplexes for sale in decent areas are scarce.   Furthermore what is out there now for sale do not seem to be in the best of condition with some deferred maintenance on many of them.

I think those owners just want out of the business and now is a good time.

I’ve profiled a few duplexes here that I think will make decent Cash Flow Investments especially if you keep in mind that real estate has always been a long-term situation.

The following 1st two profiles are on Salmon Falls Drive.   We manage a Duplex with the exact configuration located at 9074-9076 Salmon Falls Drive which is next door and across the street from these two… so we know this area.

You will notice when you see the cash flow figures I have two projections, one at the current rents and one at market.

I think many a Seller make the mistake of keeping rents low to avoid vacancies, but when they got to sell, it’s  up to the Buyer and new owner to increase the rents.

9070-9072 Salmon Falls Drive, Sacramento – Listed at $365,000 – 3 bedrooms 2 bath units on each side.  CLICK HERE for a Pro-forma Cash Flow analysis.

9075-9077 Salmon Falls Drive, Sacramento – Listed at $354,900 –  3 bedrooms 2 bath units on each side. CLICK HERE for a Pro-forma Cash Flow  analysis.

Below is a short video tour of the neighborhood where I show you what it looks like.   We manage 3 more Duplexes on the cross street of Tuolumne with recent “move-ins” at $1,400 per month.

 

Now…. After seeing the above numbers if you are from the Bay Area, you should easily see how good an investment Sacramento Duplexes are.

Of course you have to have the right Property Management and we do that as well.

Call or Text me, Ed Favinger at 916-203-1260 or send me an email at favinger@rwnetwork.com and we’ll help you find the right investment for you.

In the Mean Time…?

Make it a Great Day…!

 

Ed Favinger Broker, CRS, GRI, SFR, CDPE

 

Why Suburban Housing is Making a Comeback with Millennials & Other Generations

Suburban Folsom Real Estate is Sure to Take Advantage of This Trend.

If you look at the graphic below provided by the California Association of Realtors, it shows which generations prefer which kind of housing and lifestyle.   If you haven’t been to Folsom, California I think we are a hit with about all the demographics today.

I’ve lived in Folsom since October 1989 and watched all the changes first hand.  Folsom Real Estate includes a lot to offer that is shown in that graphic below.

If you’re looking for homes with large lots, we’ve got them.   You want a condo with no yard..?   We got them too.  If a home with a small yard close to lots of services is what you like, we got that.

Check out the link to the large new development in Folsom south of Highway 50 called Folsom Ranch which will have a lot of the elements shown in the graphic below.

Folsom Ranch Overview

 

Home Preferences for the generations

 

 

Now take a look at what the National Associaton of Realtors has to say about 7 Zip Codes That Exemplify Suburban Comeback.

If you are thinking of Buying a home or investment in Folsom or the surrounding areas, please call me at 916-203-1260 or drop me a note at favinger@rwnetwork.com

In the Mean Time…?

Make it a Great Day…!

3d render image of houses with graph growing

Overflow of Multiple Tenant Applications Since the Start of the New Year.

If you are an investor in the Sacramento Residential Investment Market and have been actively looking for something to buy,  you know there’s been multiple offers presented on a lot of the inventory here.

The reason is simple… not enough supply.3d render image of houses with graph growing

While that is frustrating for some investors who are looking to get into the market because the economy here is good,  if you’re a renter….?

You’ll notice that rental rates have gone up for the very same reason and that you aren’t the only ones applying for the same place.

Our Property Management Company has experienced a serious up tick in rental applications on our available properties that started the day after January 1st.

Since  we specialize in  Sales & Management of Duplexes and Four-plexes for sale, Small Apartment buildings  and of course sales of Single Family Homes,  please call me at 916-203-1260 or drop a note my way at favinger@rwnetwork.com.

If you want to get into the Sacramento Residential Rental Market you could not pick a better time.

I’ll help find the right deal for you and since we manage these investments we know what income you can reasonably expect to get.

Maybe we can find something like the one below.

4 bedroom home in Natoma Station

184 Elkins Circle, Folsom – A nice 4 bedroom home in the Natoma Station Neighborhood

 

In the Mean Time…?

Make it a Great Day…!

Note to You Bay Area Investors – You Get More Units for the Same Money in Sacramento

Check out this article to see what I mean.

A recent apartment acquisition here resulted from the sale of 10 units in the Bay Area and doing an exchange into a total of 85 Multi-Family units.

Basically the reason why this investor made this move is because you get a lot more units with a lot more upside and cash flow when you invest in Apartment units in the Sacramento area

Modern apartment buildings on a sunny day with a blue sky

 

Click Here for that Story

 

So if you’re a Bay Area Investor with property you’d like to sell and exchange for more units in the Sacramento Area, you’ll be joining a few others that have done the same thing.

If you are worried about Property Management because we are a couple of hours drive away from your home, rest easy.   Our Property Management Company, Haven Properties is here make your life easier as an investor.

Call or Text me at 916-203-1260 or send an email to me at,  favinger@rwnetwork.com.   Let me help you take advantage our Rental Investment market here in Sacramento

In the mean time…?

Make it a Great Day…

Ed Favinger, Broker, CRS, GRI, SFR, CDPE

 

Sacramento Duplexes for Sale – Sometimes They Need a Make Over…

Don’t Be Afraid to Invest in Fixing Them Up.

I know some investors, especially new investors, would like to purchase a Duplex for sale here in the Sacramento area but get discouraged and hesitant after they’ve seen a few of them.    The reason it seems, is they need a lot of work to bring them up to a decent condition because most of them are over 30 years old.

There are those Sellers that have done very little, if anything, to improve them much less keep up with the ongoing maintenance.   This isn’t always the case but it’s pretty common.

Those Sacramento Duplexes for sale that are updated/upgraded get top dollar with multiple offers in most cases.    People forget that construction just about stopped completely in 2008 and continued up until just recently when builders finally ramped up construction of new homes.

What they haven’t built here in large numbers for many years are “Duplexes”.

Since they haven’t I believe there’s a major opportunity for the smart investor.  It’s true even if you are a beginner in Residential Rental Real Estate such as Duplexes.   Why…?   Because Rents are on the rise with the increase in population and not enough housing stock.

There are many good deals out there in my opinion but you have to also be willing to update/upgrade a unit to make it work.   These are long term investments and my advice is to fix them up.

I have a great example here for your review.    We recently closed a Duplex deal at 10823-10825 Alicante, Rancho Cordova.   We kept the tenant on the left side, cleaned up and enhanced their landscaping front and back to add some utility value.  We did raise their rent about $200 more per month because they were not at market.

On the right side…?   Well we did a “make over”.

Below I have two videos that I did for the owner who contracted with one of our vendors to fix up the right side.   One is a “before” video and the other one is the “after”

The first one shows how it looked before… I am narrating and describing what I’m suggesting he do to get it rent ready.

Below is what it looked like BEFORE….

 

Below is what it looked like AFTER…

 

Let me know what you think.   We had a duplex close escrow just around the corner for $320,000 and it was in worse condition than this one here.

If you are hesitant about purchasing a property that needs work and you live out of the area…?  If you purchase through me, I’ll help you run the project at no extra cost and send you updated videos as the progress occurs.

We then will also manage your investment through our Property Management Company, Haven Properties.   We’re just a telephone call or text message away from helping you find the right investment.

In the mean time…?

Make it a Great Day…!

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

 

 

 

Back Yard Landscaping is Important in a Rental – Don’t Overlook It…!

Check out this graphic from the California Association of Realtors.

Back Yard Landscaping is important because some of these people also rent as well.   While this graphic applies to Home Buyers, trust me as a property manager and investor with 35 years of experience, don’t ignore the back yard for your renters.

A back yard with patios and landscaping is a cheap addition to “living space”.   With the great weather we have here, it makes sense to give the people who rent from you more value don’t you think…?

So if you want more money from your rental investment, fix up the back yard and watch how much your tenants appreciate it because they will pay you back with higher rents.

Click here for a picture of the back yard landscaping of a Duplex we manage for an investor that took our advice.    In a few more years the shrubs around this  yard will provide a lot more shade, privacy and of course more value if they ever decide to sell.

That is because they get more rent then other properties like this that do not have this upgrade.

Let me know what you think.

 

one cool thing yards

 

In the mean time…?

Make it a Great Day…!

Ed Favinger, Broker CRS, GRI, SFR, CDPE

Sacramento Rental Rate Increases Highest In California…

Surrounding Suburbs, Folsom, El Dorado Hills, Roseville Affected too.

We’ve been experiencing Rental Rate Increases for a long time here in the Sacramento Region.  This includes not only Sacramento, but the surrounding communities as well, such as Elk Grove, Roseville, Woodland, Folsom, El Dorado Hills, Lincoln, Fair Oaks, and Carmichael to name a few.

The Sacramento Bee has a story today regarding Rent Rate Increases.  They are primarily talking about the Downtown/Midtown area which has experienced a “renaissance” because of the development in and around the Golden One Center.

Sacramento Rent Increase Rates Highest in the State of California

Sacramento Rent Increase Rates Highest in the State of California

The Sacramento Midtown Area has been very popular with the younger generation and some seniors because of the proximity to jobs, entertainment and restaurants.

As I have said in the past you almost have to “know somebody inside” to be able to get a decent rental these days.

To give you an idea of how strong the rental market is, we seem to average about 5 applications for every property we advertise.

An example of what I am talking about…?  As of today, July 26, 2017, here’s a short list of a couple of Duplex apartments being advertised by our Property Management Company with pending applications we are processing now.

Note to Duplex Investors or for that matter, any Residential Real Estate Investors from Single Family Homes up to Apartment complexes.   You’ll have several applications to rent if you decide to invest in the Sacramento area.

Until they start to build more Apartments and Homes this trend will continue given the great economy we have going at this time.

If you’re thinking of buying/investing in the Sacramento area, please call me at 916-203-1260 or send me a note at favinger@rwnetwork.com and let me help you find the best deal out there today.

If you’re an owner now and thinking of selling, contact me and let’s take a look at your investment property.   I can help you get the most out of your investment with some ideas you might not have considered.

In the Mean Time…?

Make it a Great Day…!

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

Landlords Market in Sacramento Area – Bad News If You Are a Renter…!

Rents Are Up “Big Time”…So Start Your Search Early ..!

 

If you’re a Landlord/Investor in the Sacramento Area and recently tried to lease or rent up an apartment you were probably shocked at the responses.  Old news to us in the Residential Investment and Property Management business.rental search

Rents are up so much in the Sacramento Area and supply so low,  if you’re a person looking to rent, you’d better start your search very early and have any credit issues resolved first, because it is a “landlords market”.

You may not have heard but Landlords and Property Managers are experiencing “multiple” applications for just about every unit that comes up.

It doesn’t matter what kind of property we’re talking about either.   Our Property Management company has so many people seeking a Home/Apartment to rent that we have set  up a  “showing/viewing” schedule each week posted on the website instead of making specific appointment times when prospective tenants call.

On most occasions now days we have several prospective tenants come to those showings and many of them will bring a completed application as well.

This kind of Landlord’s market will make most investors smile.   So if you are thinking of getting into the Residential Investment market, this is a great time.   No one seems to know when the rise in Rental Rates will stop because there’s a lack of supply.

With an improving economy with lots of jobs and a lack of supply,  even paying more for the investment won’t necessarily be a bad thing.

Call me at 916-203-1260 or drop a note to favinger@rwnetwork.com and we’ll see if we can’t place you into an investment that works for you.

Now… If you are a prospective tenant with good income…?  May I suggest you think about buying because it will be better for you in the long term.    Call me and we’ll see if we can’t get you “pre-qualified” with the various loan programs that are available to you.

In the mean time…?

Make it a Great Day..!

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

 

Sales of Sacramento Duplexes are Hot..!

No Re-Sale Inventory & Rents Are Going Up

I’ve been working the Sacramento Area Duplex Market for a few years now and while we’ve had spurts of price growth in the past, I think this current market is poised to bust through the price ceiling  of 2005 and 2006.Duplex

While we’ve been involved in Sacramento Duplex Sales and Management all over the region.  However, it seems Duplexes located in the Sacramento zip codes of 95826, 95827 and the Rancho Cordova zip code of 95670 are noteworthy because we’ve placed a lot of investors in these areas and we manage them as well.

I thought I’d share the latest information regarding the Sales Data for Sacramento and Rancho Cordova Duplexes with you that I sent to Duplex owners hoping to find someone willing to sell now.

Click Here for a copy of that report.

Rents are also going up.   Many of these Duplexes for sale will not have the rents at their current market so it will be up to you, the investor,  to know how much you can raise them in order to make a deal make sense.

If you’re thinking of Investing in a Sacramento Duplex, call or send me a note and I’ll be able to analyze the property for it’s potential performance.

Click Here for a List of Duplexes for Sale in the Sacramento Area.

We also perform Property Management services as well that is “2nd to none”.

In the mean time…?

Make it a Great Day…!

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

 

Being A Landlord Is Easy When Tenants Have Jobs…!

Unemployed People Have a Hard  Time Paying Rent

 

jobs

 

You have to have jobs so people who want to live in your rental investment have the ability to pay the rent.

It looks like the Sacramento Region has 21,000 jobs available according to this “linkedin” email alert I got this morning.

Check it out here.

The Rental Market in Sacramento is hot.  Sales and Investing in the Sacramento Region hot as well.

We’ve experienced multiple rental applications for Duplexes, Single Family Homes and Apartments we manage for the last several months.   They haven’t built enough inventory for the amount of people looking to move into a home or an apartment.

So if you’re thinking of Buying/Investing in a Single Family Home, a Duplex here in the Sacramento Region or even a small to medium sized apartment complex, call/text me at 916-203-1260 or drop an email my way and lets talk about what your goals are.

In the Mean Time…?

Make it a Great Day…!

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