This Folsom Condo will re-rent quick…!

Why… Because it’s near everything.

  • Nature Trails
  • Community Pool
  • Neighborhood Shopping & Restaurants are just up the street
  • Briggs Ranch Neighborhood Park with pick-nick tables & Volley Ball sand lot & Play Ground
  • Farmers Market right there at the corner of Blue Ravine and East Natoma every Friday morning
  • Folsom Point entrance to Folsom Lake about a mile away if that

The current tenant in this home will not be out for another couple of weeks, but is willing to show it with an appointment.

I’ve got lots of  pictures as you will see so for more information about this great condo go to the link below.

4903 Esplanade, Folsom, Ca – 2 bedrooms 2 bath, 2 car garage and it’s available at $1,370,00.   Call me at anytime to set up an appointment to view.

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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A Neat Idea for Busy People

The Mobile Car Wash…?  Check out this blog post from an Active Real Estate Broker in the Land Park/East Sacramento area.

I think this would be a great idea out here in Folsom or El Dorado Hills.   Maybe these guys will market out here or some young guys here will see an opportunity.

http://sacramentoshortsales.housingstorm.com/tag/bank-owned-homes/

Make it a great day…!!!

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

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Trends In This Down Economy – What Folks Now Want in a Home

Outdoor Rooms, Playgrounds and Trails are high on the list like the one shown below in the Serrano area of El Dorado Hills. 

It seems folks are looking for ways to get more utility value from their homes because these things don’t cost a lot.  There are other things the article spoke about, so for more on this, Click Here for the Article

Make it a Great Day…

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

Nationwide Some Good News & Bad News & More Bad News… See Below

If you don’t get Yahoo News I thought I’d pass on a couple of articles

Home sales rose in ’09 as prices plunged 12 pct. – Yahoo! Finance

December home sales down nearly 17 percent – Yahoo! Finance

My conclusion is that this market could be much better if the powers that be would just allow loans to be made to investors at or near the same rates, maybe just a bit higher,  than Owner Occupied real estate.

See my blog article regarding poor Mr. Phillips.   That story is being repeated thousands of times all across the country.

Pass the word.

Make it a great day…!

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

Plumbing Leak Follow Up – What We Did To Clean Up

 

A Follow Up to my post of December 6th …..

While I did give you a tip regarding shutting of water supply lines when you are going to be absent for a long period of time and you don’t have a “house sitter”, I didn’t tell you what we did to clean up the mess.

The Problem…?

Was that a water supply line to the upstairs Master Bathroom Toilet broke and the resident there said she estimated it leaked out for at least 20 minutes before she noticed water dripping down stairs through an “air vent”. 

She immediately turned off the water supply line located just below the toilet and then got out her trusty old  “shop j0349397vac” to get the water up.

 

While she did what she could, we had to call out a professional carpet cleaning company to extract the water that had filled up a large master bathroom that was carpeted and then traveled further to about 2 or 3 feet into the bedroom itself.

The Solution…..

Our experience tells us just extracting as much water as you can, you never get it all.  The carpet and pad will be wet and will cause a mold and mildew problem if not properly treated and dried quickly.

Advanced Carpet, our “preferred vendor”  extracted all the water that they could, then set up huge fans to speed up the evaporation process to get the area dry.   The next day they came out and cleaned the carpet of any residue or coloring.

While she was inconvienced by it all, the resident thought they had done a great job in restoring the area back to it’s previous condition.  

We’ve been using this company for about a year now.  You can find them on the web here at  Advanced Carpet & Upholstery Cleaning and their local phone number is 916-989-2146.   They’ve got a “helpful hints page” that you might want to also check out. 

If you call them for service and mention our property management company’s name, Haven Properties, they will offer you further discounts beyond their posted coupon prices. 

Finally, let me tell you that we think Advanced Carpet’s pricing is just about the best in the area so check them out for your “Christmas Party” carpet cleaning or call them in an emergency for water extraction if this problem ever happens to you.

Make it a Great Day

favinger@rwnetwork.com – Mobile 916-203-1260

 

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Plumbing Leaks Can Ruin A Vacation – Here’s a Tip to Avoid a Mess

What Happens When A Water Supply Line Leaks & You’re Not Home…?

Before I answer that question, let me implore you to obtain and maintain a Hazard Insurance policy for your rental properties that does cover water leaks.

So now let me answer the question…    The Answer is..?   There’s gonna be a whole lot of water spilling into the room and spreading throuthumbnailCA5LCWSF - aghout the house until it’s turned off.

If this is a leak for example,  from a Toilet Water Supply line in an upstairs bathroom,  which recently occured in a rental home here in Folsom that we manage, the water will find a way downstairs…  In this case, it came through a vent and dripped in an area right below.

We were lucky because the tenant was home and was able to turn off the water supply valve.   This lady estimated that the water had to have been leaking for about 20 minutes.

An emergency call went out to one of our vendors to extract all the water we could and place fans to dry up the carpet to prevent mold and mildew from forming.

We were lucky because this lady just happened  to be home.

So here’s the tip… If you are going to be gone for several days and do not have a house sitter, you might want to consider turning off the water supply lines in the house,  or… just turning off the water supply line at the gate valve.

I can’t imagine the damage that would have occured if this tenant had not been home and even if you have insurance, there is the hassle of dealing with it all.

Make it a Great Day

 

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The 1031 Tax Deferred Exchange is still around

 

Now’s the time to “Move Up”…? 

I got a Newsletter from Leonard Spoto of  Asset Exchange Company that I thought I’d share with you.

If you’d like more information regarding 1031 tax deferred exchanges, then check them out here and down load articles that will probably answer most of your questions. 

What follows is a part of their most recent “newsletter”.   I hope you find this useful and informative.

 

Trading Up in Today’s Market

 

Many of our clients are taking advantage of the turmoil in the real estate market by trading up. The theory is simple: a declining market favors investors who are trading up because the higher the property value, the greater the decline in real dollars assuming both properties are declining at the same rate.

 

There are also a lot more buyers who can come to the table with a 20% down payment on a $500K property than a $1MM property. Bernard P., a recent Asset Exchange Company client acquired his first commercial building after selling a $550K rental property in South San Francisco. Asked the motivation for his trade his answer was simple “there are great deals out there right now on the big stuff and we had plenty of interested buyers for our sale property. The time was right to trade up.”

 

Trading up with a 1031 Exchange also allows you to keep all of your money working for you. Taxes on the sale of an investment property can be as high as 1/3 of your total gain. But by entering into a 1031 Exchange before the close of escrow on the sale property, those taxes can be deferred (and possibly avoided altogether) allowing investors to get maximum value out of their real estate transactions.

 

 

 

Real Estate – An Hedge Against Inflation

 

Depending on which economist you read you may be inclined to believe that the US is headed towards an inflationary economy. The theory is that because the Fed and it’s counterparts around the world have been printing money to combat the global recession, inflation is a natural consequence. If you buy into this argument, you may want to consider investing in real estate as a hedge against inflation.

 

With real estate, if you have a low-rate, 30-year, fixed mortgage, your note will become a thing of beauty as prices rise:

 

– Your property value will rise

 

– Your rental income will rise

 

– Your mortgage payment will remain fixed

 

– You will repay the loan with cheaper dollars

 

There is plenty of disagreement, of course, among top economists regarding inflation. Some argue that with unemployment figures at a 26 year peak and plenty of idle factory space, rising prices in the near term is not a concern.

Real estate investors need to remember however, that a hedge against inflation is just one of the many benefits of investing in real estate.   Frequent readers of this newsletter will note that we often discuss the numerous tax advantages to owning real estate including:

 

– Ability to depreciate real estate hence reducing (or eliminating) your reportable taxable income from the property

 

– Ability to write off expenses

 

– The mortgage interest deduction

 

– The ability to sell real estate and either avoid and/or defer the payment of capital gains taxes

 

One thing for certain is that plenty of opportunistic investors are finding value in today’s real estate market.

 

 

Contact Leonard for more information regarding your 1031 exchange at Leonard_Spoto@mail.vresp.com and tell him Ed Favinger sent you.

 

 

Make it a great day…!

Loan Modification Companies – Are They A Scam…?

Do You Know Anybody Who Has Benefited From Them…?

 

I don’t know of any either.  Let me know if you know someone who hired one of these companies and had some success.  We  in the business call them “Loan Mod” companies and they are every where.   You’ve probably heard some advertisements on radio or seen them in local media…

 

Did you know that they are also a “Muti-Level” marketing (MLM) business as well that almost anyone can get into..?   Yes… just like AMWAY or WEST COAST WELLNESS.  These are companies that have products to sell.  They also solicit “associates”… folks like you and me to invest in their business to distribute their products.  They also want you to recruit new “associates” and give you a piece of their action and so on down the line.

 

Well,  Multi-Level Marketing is also prevalent in the Loan Modification Business.  One such company is Certified Financial Protection Group LLC.  Here’s a copy of the Associate Program in a PDF.

 

I have a client that has not had success with this group and was solicited by a friend that signed up for the “Associate Program”..  The “associate” gets a piece of what ever they bring in and the more they bring in the more they get.

 

Moreover…..

 

In today’s Sacramento Bee there’s an OP-ED written by Kamala D. Harris, the District Attorney for the City and County of San Francisco and Kevin Stein the Associate Director of California Reinvestment Coaltion.  They provide some more information and some links to helpful counseling agencies.

 

My View: Extreme vigilance needed to combat loan scams

 

 

I’d like some feed back on this issue.

 

 

IN THE MEAN TIME…?  

 

 

 

MAKE IT A GREAT DAY….!

Tips for Maintaining your Property

Good Morning Folks…   

It’s another great day in paradise….!!!  Why do I say this… ?   It’s because any day I wake up “north of terra firma” is another great day to celebrate…   you never know when it’s your turn to “check out” as they say.

While the focus of this blog is to help folks invest in real estate… especially multi-family homes like Duplexes, Four-Plexes and Apartment complexes.. I do like to give you information that comes my way time to time from other sources…

I’ve posted some links below regarding the Maintenance of Decks, Patios and a link about Kitchen counter tops.  I hope you find them useful and informative because improving and maintaining a piece of real estate is something an investor or homeowner should never over look or defer.

 HERE THEY ARE:

Maintaining Your Deck  – great article – I’ve got a Court Yard deck in front of my own place that is 5 years old, but doesn’t show it when it’s maintained right.

Concrete Patio or Driveway Maintenance

Kitchen Counter Tops

If you have any questions or would like me to refer some professionals to assist you in any kind of a project drop a note my way or just call me… favinger@rwnetwork.com   916-203-1260

In the Mean Time…?

 

MAKE IT A GREAT DAY..!

Some Interesting Deals If Cash Flow is Your Goal

June 17, 2009

Rancho Cordova – The Sleeper Area for Investors :

 

While out and about I came across a couple of what I call “suspects” that could be potential money makers.  I drove by both of these properties on June 15th and I think one of them has just been reported sold before I could post it here.

 

Check them out and you’ll see why I like these.  Click on the addresses for a couple of pictures and an attached “pro-forma” cash flow analysis.

  

10413 White Rock Road, Rancho Cordova – Great numbers only on the market a couple of days – Shows Pending sale as of today.

 

10754 56 Capana Rancho Cordova– Located in an area of Pride of Ownership single family homes on a large corner lot.  Click here for a VIDEO of the area around it.

 

One of these is what I call a “bread and butter” type investment and the other one is what I call a “coupon clipper”.

 

Let me ask you…   Are these numbers pretty decent…?   They include taxes, insurance, management, some repairs along with the water sewer and garbage.

 

I think the Sacramento area is the “place to invest”…  Am I wrong…?

 

Make it a great day…!