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Mortgage Rates are going Down Again…Great For Real Estate Investors…!

Great News – Lower Interest Rates + Higher Rental Rates = Good Time to Invest

I got this latest report from Housing Wire and thought I’d pass it on.   If you are thinking of Buying a Home to live in or to Invest in, now is probably a good time.

 

CLICK HERE FOR THE ARTICLE.

US-mortgage-rates-30yrFix

US-mortgage-rates-30yrFix (Photo credit: Wikipedia)

 

Call  or text me today at 916-203-1260 if you’re thinking of Selling, Investing or if you need Property Management.    We specialize in Single Family Homes and Residential Income and Investment Properties as well.

In the Mean Time…?

Make it a Great Day…!

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

 

 

Thinking of Buying a Rental Property – Good News Here About Rising Rents

It’s a “Landlord’s Market”…!

Bisnow.com has the Sacramento Area at #2 Fasting Risings Rents.

Now, if you haven’t heard this before in other media & news outlets such as the Sacramento Business Journal article they wrote a few days ago or maybe you’ve not seen this article from a few months back about rental rates in the country in general,  you might think this is something going that is new.  Well, its not new to us.

Folks, anytime you see something in the mainstream media such as the news paper or TV regarding anything to do with real estate, trust me, it’s old news.

That’s because anyone in real estate who is involved in Investment Real Estate or Property Management will tell you it’s old news and has been for a while.

Let me give you an idea of what it’s like out there now.   In Folsom, where our office is and also where I live… I tell people all the time about the rental market this way.  “If you are a Renter, you almost have to know somebody inside to find a decent rental to get into.

So bottom line is if you are thinking of buying a Duplex, Four-Plex, an Apartment complex or even a single family home or condo, you’ll be able to rent it today for top dollar.

We specialize in the Sales and Management of Residential Income Property so let us show you how to make the most $$$ out of your investment.

In the mean time…?

Make it a Great Day…!

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

 

Twin Pines Apartments – Rancho Cordova – Twelve Units – A Sleeper Investment

Across the street from the new Folsom Lake College Extension.

If you have been looking for a small apartment complex with “upside” I think you might have found it here.

This one has a mix of (8) 2 bedroom 1 bath & (4) 1 bedroom 1 bath apartment units.   All have dishwashers, gas stoves, patios/decks, central heat/air and lots of off street parking.   I do have an estimate for “covered parking” to be installed, which I think would be a big improvement and allow for an increase in rental rates.

The Owners have recently painted the exterior, made el caprice #1updates to the roof, replaced the site’s water heater and completed a lot of dry rot and satisfied all of the City of Rancho Cordova code enforcement issues.

The tenant profile has been upgraded as well.

CLICK HERE TO GET A SLIDE SHOW OF PICTURES THAT INCLUDE THE COLLEGE ACROSS THE STREET

You can also get a copy of the Cash Flow Figures here.

If you take a drive to see this you’ll see that the college is almost done.   They are putting in the landscaping and the parking lot across the street is just about completed as well.

You’ll also notice a pretty good sized open area that has some additional potential and is part of the “Mather Mills Opporunity Site”.  The Twin Pines Apartments are across the street as you can see in the aerial shot that is bounded by yellow.    Click on the link below to get more information.

el caprice aerial view

 

The Mather Mills Opportunity Site

 

 

If you have any questions regards this Apartment Complex or any other apartments, duplexes or four-plexes for sale, contact me anytime at:   916-203-1260, favinger@rwnetwork.com

In the mean time…?

Make it a Great Day…!

 

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Duplex Investors Who Need Property Management.

Tenants Need to Know You Care About Your Property…

As part of our service to our property management clients, we drive by periodically to make sure the tenants livng in our properties are following the simple rules we have in their rental agreements.

These rules include such things as:

  • Tenants are never to park a car on the grass.
  • Tenants are to put their trash  cans behind the  fence gates except on “trash days”.
  • Tenants are to keep the premises clean and free of any trash and debri.
  • Tenants are not allowed to park inoperable vehicles or vehicles with expired tags on the property.

I wish other owners/landlords had the same standards because what they get in return are tenants who know you care about your property.  Because if you are one of the owners who want to maintain the value and increase rents, you’ll be surprised how quickly a nice looking place rents and for much higher than a property that doesn’t have the same standard.

Here’s an example…   What do you think of this owner…?  El Mercado - 1 (800x450)Would you be proud to own this property or would you want to live next to it..?

This one is located on the corner of El Mercado and Chettingham in Rancho Cordova.

 

 

And sadly… here’s a property we managed for about 2 and half years.  This one is just down the street from the one that is pictured above.    Earlier this year the owner asked us to sell it for him.     Here’s a picture of it when we put it on the market.

picture of the front

The new buyer loved the place and paid top dollar because he had to “out bid” the others… After it closed, what did they decide to do…? They decided to manage it themselves.

I  know the tenant rental agreements provided for the owner to maintain the landscaping but it looks  like they aren’t providing for it anymore and it shows how quickly a property can look run down from lack of attention.

Click on the picture above to see how it looks as of Monday, Sept. 7th…. you’ll get a short video to make the contrast.

The excuse some people are using is the drought.   It’s not an excuse in my opinion because you can water enough here to maintain the landscaping and curb appeal up if you really wanted to.

If you are an investor or soon to be investor…? please keep this in mind.

In the mean time…

Make it a great day…!

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

 

A Duplex Just On the Market and Another Multiple Offer Situation…!

This one got 7 offers in less than a week…!

We placed the Duplex at 7983-7985 Marsala Court on the market in the middle of last week and as of today we have had 7 offers and the phone is still ringing.

IMG_0597

 

This is the 3rd Duplex I’ve placed on the market within the last 30 days.   One of the threads that has been consistent in these situations is that these Duplexes all had a decent enough income to give a cash and had Pride of Ownership to go with it.

For a copy of the cash flow figures of this Duplex Click Here.

The Sellers  just accepted an all cash offer that was well over the list price and we’re now moving forward with the “due diligence” period and we’ll see what develops on the way to the closing.

If you are thinking of buying a Duplex or a Four Plex in the Sacramento Region or you are thinking of Selling, give me a call.

There are still great deals out there if you are a buyer and if you are tired of being a landlord, now might be the time to think about Selling.

 

In the Mean Time…?

Make it a Great Day….!

Ed Favinger, Broker, CRS, GRI, SFR CDPE   

A Roseville Duplex For Sale – A Total Remodel…!!!

And it cash flows too…!

For those of you looking for a Real Estate Investment property that doesn’t need a lot of work because of “deferred” maintenance, then you might want to consider this property.

116 Hickory Drive in Roseville has had a big time make over.    We are currently renting up the units at $1,200 per month and have one pending application now.

Click Here for a copy of the Proforma Cash Flow Analysis.   We are currently marketing it to tenants with them paying for the Water, Sewer and Garbage.   The cash flow figures however show the owner paying for this along with Property Management and Landscape Maintenance.

If you want to schedule and appointment to see this property please call me at 916-203-1260.

In the Mean Time…?

Make it a Great Day..!

 

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

 

Sacramento Millennials – Probably Going to Rent for a While Yet…

More old news from the Sacramento Bee

You know it was just a few days ago that I was opining about the rental market here in the Sacramento Region.

It’s supposed to be a great market if you are a Landlord.   I agree and I can speak with a little authority because our Property Management Company services about 350 units all over the area,  so we know what rents are and what tenants are looking for.

Sacramento River Front

Sacramento River Front (Photo credit: Wikipedia)

Anyway… Here’s an article from last Saturday’s Sacramento Bee, front page and above the fold that I thought I’d share with you to make my point.

Sacramento-area millennials are putting off homeownership

Every article I’ve read from trade publications around the country show this trend is going to last for a while… they say.

Here’s an article from the Sacramento Business Journal recapping some of the big “multi-family” deals in there area.

You’ve just got to know that if big funds are moving into large complexes the same fundamentals they see will work for small investors as well.

Bottom line…?    If you are thinking of getting into the Rental Real Estate market, it looks like you’ll do well and not have a big problem finding qualified tenants.

You will have competition from other rentals so don’t forget that you’ll need to maintain yours in great shape.

 

In the Mean Time…?

Make it a Great Day…!

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

 

If You Are a Landlord – Some Good News For You

Rents in this area are up

 

However, if you have been a regular visitor to this blog site, you already know this.   When ever we get a vacant rental, it’s very rare that our 3d House (XXL)Property Management Company will re-rent it at the same rate when it was given back to us at move out.

In addition, when renters elect to “re-up” a lease at the end of their term, we generally raise the rent some because the market will allow us to.

Along with the increase in the amount of rents landlords can charge, we’re also seeing some of the other costs associated with running a unit being transferred to the tenant.    Most notably some of the city and county utility charges, such as Water, Sewer and Garbage fees.

This is especially true for owners of Single Family Homes/Condos and Duplex units in this area.   It’s rare that we have much,  if any,  objection when we have included theses charges in a new tenant’s lease.   On occasion instead of raising the rent on some units at lease renewal, we’ve adjusted the new lease to include some or all of those utilities.

Here’s a HousingWire.com article with a survey of rental rate increases in the largest markets Zillow covers in the US.    While I’m writing this I’m listening to a morning radio talk show out of the Bay Area and guess what the topic is…?  Yes high rents and how people are driving long distances to get to work.

In conclusion it’s better to be on the Landlord side right now and if you have been thinking of getting your first rental, trust me you’ll have no problem finding a good tenant these days.

 

In the Mean Time…?

Make it a Great Day…!

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

 

 

More Old News From the Sacramento Bee – When It Comes to Real Estate

I’ve Been Telling Folks For Years That They Had Stopped Building New Homes Here.

I can case you haven’t yet seen this article from the Sacramento Bee,  I’ve got the link for you below.

However… I have to add that the only reason prices haven’t climbed higher is the still high unemployment in this area.    When that gets better, you’ll see prices and demand really go up and new homes coming on the market.

Sacramento area home builders struggle with rising demand, lack of ready lots

 

Now… In the mean time…?

Make it a Great Day…!

 

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

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Looking For A Small Apartment Investment…? These Might Work For You…

Here’s My Profile of Two Small Apartment Buildings.

Lets start with a property that was on the market a few months back… didn’t sell,  is now back on the market for sale.

7761 Lialana Way, Citrus Heights, Ca  

An 8 unit complex consisting of all 2 bedroom 1 bath units.

They include  Central Heat and Air, small patios or balconies.   The listing agent says in the listing offering a New Roof was installed in 2007.

List Price:  $535,000

 

Click here for the estimated cash flow analysis

Click on the picture above for a short Video of the exterior of this property.

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The other one is located at 5432 Olympic Way, Sacramento, Ca 95842

This one is unique because it sits at the end of a cul-de-sac and consists of (6) 2 bedroom 1.5 bath Town House style apartments in a street comprised mostly of duplexes and another nice 8 units across the street.

There’s a large park that can be accessed by the tenants who live in this building.

 

List Price is $495,000

Click here for the estimated cash flow analysis.

Click on the picture above for a short Video of the exterior of this property 

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Both of these properties need some work.   I’m not talking major structural stuff.   No we’re talking about the curb appeal and deferred maintenance that exists on both.   These are the kinds of properties if fixed up, will generate a better class of tenant and enhance the neighborhood instead of being somewhat of an eyesore.

By the way… All of the numbers you see in those “pro-forma” cash flow analysis’ are “estimates”.

If anyone that checks in on this site and is interested in these or any other properties, please send me a note or call me.

In the mean time…?

Make it a Great Day…!

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

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