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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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You Want to Buy A Sacramento Four Plex…? Is The Summer Heat in Sacramento Hot…?

Have You Heard the Phrase…”Give Us Your Highest and Best”…?   How About 22 Offers on this Bank Owned Four-Plex…

A client of mine was one of the parties that made an offer on this 4-plex.  I won’t say how high he and his group bid,  but trust me it was up there.   After viewing it on Sunday, we submitted our offer the next day, this past Monday, Jan. 14th.

Click here for more information about this Four-Plex located at 5544 Keoncrest Circle.

The Listing agent noted in the original listing offering, that all “offers would be presented at 9:00 AM” on the 16th”.

While this week had gone by quickly I had our offer in the back of my mind because we did make a very strong offer.     Here’s a copy of the “update” note I got from the listing agent late this afternoon.   It was sent to all that made offers…

ALL AGENTS.  I wanted to keep you in touch with what is happening with this property.  I did receive 22 offers on this fourplex.  Most were considerably above list price.  These offers were presented to Bank of America yesterday.  At this time I am still waiting for the Multiple Offer/highest and best form from the Asset Manager.  I will forward this onto everybody as soon as I receive it.  Phil Hodgkins Prudential NorCal

Now that you have seen how hot the market is and because almost every thing in this area is getting multiple offers…   How much would you offer…?

Fixed Up:   This complex should rent for $750 each unit = $36,000 per year Gross Annual Income.  If you calculate it would cost you $10,000 per unit to “fix up”..?  What would you pay for it going in…?

I’ll keep you posted and let you know what happens.

In the Mean Time…?

Make it a Great Day…!

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

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Owning a Home is Still the American Dream…! Check Out the Survey…

Click Here for the Link to Real Estate News from the Sacramento Bee – Just more information that real estate is back in the State of California

Make it a Great Day…!

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

 

 

Looking for a Duplex, Four-plex, Apartment Complex or Even a Single Family Home…?

You Can Do Your Own Searching Right Here…

If you happen to be looking around and trying to find a Home for sale in Folsom, El Dorado Hills, Roseville, Granite Bay, Sacramento,  or any other city in the area, you can  Click Here to get started.

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While you are hanging around here you might check out the Foreclosure Search because you might find something there as well.

If you are looking for more than just a home, you can find Duplexes, Four-plexes and Apartment complexes that are for sale in the Sacramento Region by Clicking Here.

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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A Couple of Unique Bank Owned Homes in Folsom

One Is “Rent Ready” if You’re An Investor – The Other Needs a Little “TLC”.

I”ve been out and about more these days, since the local weather here has been so great, looking at a lot of homes.   I’ve got a couple here that are interesting.

Some features they both have in common are they are both located near parks, open space and the trail systems which are all over the City of Folsom.

The 1st one is located at 1176 Grey Fox Court, in “The Parkway”  and is priced at $310,000.   As of today, January 5th it still shows as an “Active” listing.   Located on a Cul-De-Sac, it’s just a few doors away from the Parkway Trail system and Nature Preserve.

Video is below

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The 2nd one is located in the Ridgeview neighborhood at 726 Hunter Place.   It’s got a nice corner lot orientation with some privacy that  includes almost 2,600 sq ft ,  4 bedroom 3 full baths, pool and spa.  Priced at $399,900 it’s also located just a few steps away from the neighborhood park and bike trails.

Video is below

Let me know what you think…

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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