Bank Owned Duplexes – Come & Get ’em….

Some of the best I’ve seen in a while !!

Hey you investors…    I’ve found some decent Bank Owned Duplexes that are all unique and very much worth the time to pick up – one maybe even a “flipper”

I’ve got two Bank Owned Duplexes have just come on the market and one that has been for sale for quite some time.

I have previewed all of them and have put together some information including pictures.   Click the links below and you’ll pull up a PDF file with my projected income and expenses.

10414 South White Rock Rd, Rancho Cordova, Ca 95670 – 3 Bedrooms 2 Bath on each side – Court Yard entries and each unit has recent updates in the kitchens and bathrooms.   Mirrored Closet Doors in the Master Bedrooms and Sliding Glass doors to the rear yards.  Listed at $124,839 – I know this is going to sell for much more.  These units are just about “rent ready”…  The Bank knows this and this will have “multiple offers” for sure….

Other than maybe some painting and general cleanup, the only major problem I see is part of the roof system.  The area over the bedrooms is a “flat top” type that is leaking in one of the back bedrooms.  I estimate it can be fixed for about $7,000.   I’m a part owner of a duplex with a configuration like this and that is what it cost us about 2 years ago for the same problem.

I like Rancho Cordova…It’s a sleeper area with a commitment to community preservation.  Lots of new construction going on around this area.  Elementary school is just down the street.

Here’s my attempt to do a “video”.. Click the links below to see video of each side.

10414 South White Rock Road, Rancho Cordova – “left side”

10414 South White Rock Road, Rancho Cordova – “right side”

6335 Sorrell Court, Citrus Heights, Ca 95621 – This is a nicely located Duplex on a Cul-de-Sac street that is right off of Zenith and Antelope Roads.  Neighborhood shopping is very close by along with access to Hwy 80.  Great commute location for either Roseville/Rocklin or Sacramento.  I’ve run the comparables and they go for about $175,000 in this area.

The back yards are huge with little or no landscaping…  I think this is one area many investors put a low priority on.  Some landscaping here would be a great inhancement for this property.  Inside…?  They aren’t bad.. paint.. carpet.. cleanup.. = Rent Ready…   Roof is good shape…

Here’s an old favorite below here that has been on the market for a long time… it’s been in and out of escrow I think a couple of times.  It has my special “designation”…. a “Beater”… in other words… a Fixer upper…  Check it out…!!

5006 Sunshine Lane, Sacramento, Ca 95841 – I’ve seen this one inside and it’s in need of some TLC as they say.  It’s Listed at $134,900 but I have the cash flow analysis at $115,000.  That’s what it should and probably would go for if some one came in with an all cash offer.   I estimate it would take about $20,000 to really fix this up nicely.  It’s in a great location.. kind of unique.. and it’s just around the corner from American River College.

I’ve got more coming.. come back later…

In the mean time…?

MAKE IT A GREAT DAY

Secrets To Buying a Bank Owned/REO Property

Why it’s not always best to be the 1st one there.

Just a couple of days ago I posted the Cash Flow estimates for 2 duplexes in the area.  If  you go to:  10069 Nebula, Sacramento  and  10390 South White Rock, Rancho Cordova you’ll get the figures.

The secret…?   is that both of these properties have been in and out of escrow and when this happens in this market, I know it’s not because the Buyer couldn’t qualify. 

In my opinion, a Buyer looked at the property more closely and after reviewing the condition and what was needed to bring it up to a “rent ready” condition, the price the Seller was asking is not what “the market” will pay.  This is what has happened to both of those properties above.  They have both been on the market for quite some time.

If you are looking for an investment property such as,  a Duplex, Four-Plex or Multi-Unit Apartment Complex, contact me for a quick “Cash Flow Analysis” and a “Comparable Market Analysis”.    In addition to that, I’ll give you the “history” of this property, especially the recent history because if’your prospective property has been in and out of escrow, you’ll be able to make a much better deal.

REO/BANK OWNED Sellers and their Brokers hate it when a deal falls through and when this happens, the next deal will be at a lower price in most cases.  The Banks and their Brokers know this…. AND NOW….? SO DO YOU…!!!

Call me at 916-203-1260 or just send an email my way.  It doesn’t mater what kind of property you are thinking about purchasing, I’ll have the best analysis to help you make the right decision especially “the history”.

In the Mean Time…?

 

MAKE IT A GREAT DAY

Secrets To Buying a Bank Owned/REO Property

They Call Me “Mr Ed”… The Best Darned Real Estate Blog Period

March 1st, 2009 4:37 PM

Sunday, March 01, 2009

Why it’s not always best to be the 1st one there.

Just a couple of days ago I posted the Cash Flow estimates for 2 duplexes in the area. If you go to: 10069 Nebula, Sacramento and 10390 South White Rock, Rancho Cordova you’ll get the figures.

The secret…? is that both of these properties have been in and out of escrow and when this happens in this market, I know it’s not because the Buyer couldn’t qualify.

In my opinion, a Buyer looked at the property more closely and after reviewing the condition and what was needed to bring it up to a “rent ready” condition, the price the Seller was asking is not what “the market” will pay. This is what has happened to both of those properties above.

If you are looking for an investment property such as, a Duplex, Four-Plex or Multi-Unit Apartment Complex, contact me for a quick “Cash Flow Analysis” and a “Comparable Market Analysis”. In addition to that, I’ll give you the “history” of this property, especially the recent history because if’your prospective property has been in and out of escrow, you’ll be able to make a much better deal.

REO/BANK OWNED Sellers and their Brokers hate it when a deal falls through and when this happens, the next deal will be at a lower price in most cases. The Banks and their Brokers know this…. AND NOW….? SO DO YOU…!!!

Call me at 916-203-1260 or just send an EMAIL my way. It doesn’t mater what kind of property you are thinking about purchasing, I’ll have the best analysis to help you make the right decision especially “the history”.

In the Mean Time…?

MAKE IT A GREAT DAY