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Rancho Cordova Duplexes for Sale – Short Sale & A “Bank Owned Fixer”

Take a look at the numbers on these two.

One of them is a Short Sale and the other is an REO/Bank Owned property that is in need of some work.   These properties showed still “Active” as of today.   I haven’t contacted the agents to see if they have offers or not, but if you look at the numbers, I can’t see why they are still available.

They are pretty decent deals based upon the assumptions in the “pro-forma” cash flow figures I’ve prepared here.

So check out the links below and let me know what you think.   Got some video here as well.

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If you are looking for an investment I don’t think you can argue that these numbers look pretty good… don’t you think..?

Make it a Great Day…!


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


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Fair Oaks Fixer Duplex – Country in the City Location…!

Live Near Million $$$ Homes – Payments Cheaper Than Rent

I was out and about looking at property and have seen this one a couple of times on the MLS.   Click Here for the basic information if you’d like to see it.

This property is nestled in a pretty nice area with Oak Trees everywhere.   If you looked at the map on the link above maybe you noticed how close to the American River Parkway this property is near.  You owe it to yourself to drive by this property and the neighborhood.

This Duplex would be a great “owner occupied” candidate if you wanted a Single Family neighborhood feel.

I GOT VIDEO…!   I GOT VIDEO…!

Click On Here and join me on my walk around the property.

Click on this link to see the immediate neighborhood around this property

Cash Flow…?   You Want Cash Flow…? Or would you like to live in one unit and rent the other?   This is one property that could go either way.   You have to buy it for the right price though.  Although it’s listed at $319,900, it’s not going to sell for that in my opinion.   I think it should sell for something near or at $250,000.   If you look at the comparable sales data, there hasn’t been one sell for much over that,  if any.

Click Here for the comparable sales to prove my point.

Click the link below this paragraph for my projections – which includes costs to fix up calculated in.   I’ve got figures if you are a “Non-Owner Occupied Cash Flow Investor”  or you’re maybe a 1st time buyer and want to live in one side and “rent the other”.

Go Here To Get the Projections

If you’ve seen the projections and are curious about what you can get for rent in this neighborhood, go to this website that will give you the data.   It only asks you for the address and bedrooms nothing more, but it does show the location of the comparable rentals in nearby neighborhoods.

Let me know what you think.

In The Mean Time…?

MAKE IT A GREAT DAY…!!!

Ed Favinger, Broker, CRS, GRI, SFR         favinger@rwnetwork.com       916-203-126-

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The Most Overlooked Potential Landscape Amenity….Period…!

Versatile…Lots of Utility…Adds Value… What am I talking about…?

Its the “Court Yard Entry”…!

One of the things I’ve learned since I’ve been in the Real Estate business is the more amenities a home has, the more utility and therefore the higher value.

Landscaping was described to me in a “Landscape Book” I bought.   “Landscaping extends the living area of your home.”

In other words, you could have a 3 bedroom 2 bath home with about 1200 sq. ft. that might seem kind of small.   However,  if you had a nicely landscaped setting of perhaps a 10′ x 10′ patio as part of your front “court yard” entry along with a patio of the same or larger size in the back yard, you’ve essentially increased the living space of this home haven’t you…?

With a Courtyard Entry, you can have another nice setting to hang out besides the backyard.   I know that most folks have the family gatherings and BBQ’s in the back yard.   If you had that extra area in front,  you can take advantage of the various orientations of your home.

For example, if your home faces the west you can sit in the front court yard looking out over the neighborhood at sunset.   Sunsets in Folsom go great with a glass of wine don’t they..?

You know I was driving around town here a couple of days ago and shot some pictures of homes in various neighborhoods that have patios and courtyards in the front.  I have a link here to a page that has a slide show of some homes with “Court Yard” entry’s.    Some are just simple front porches and some are a lot more.

Click Here and let me know what you think…

If you have a minute, check out a couple of the links for some  Courtyard entry ideas.

http://www.the-landscape-design-site.com/gardenstyles/entryways.html

http://www.roomzaar.com/rate-my-space/Gardens/Courtyard-Entry/detail.esi?oid=506284

http://www.ehow.com/list_7636633_ideas-courtyard-design.html

In the Mean Time…?

Make it a Great Day…!

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

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The Bank Owned Duplex Report – New Inventory Reviewed Here…!

Some Interesting New Listings That Have “Piqued” My Attention… might pique yours too

I’ve been out and about in the last few days looking at new inventory and reviewing some that have quickly sold and then have fallen out of escrow.    The list below are just a few that I’ve seen lately I wanted to pass on.  They are in various areas… all of which I think would be decent investments,  if purchased at the right price of course.

By clicking on the address of these properties you will open up a “pro-forma” cash flow analysis in PDF format.   I have some videos as well

Let’s start with a Short Sale first.

2325 Irma Way, Sacramento, Ca 95825 – Listed at $160,000 –  Nice area of duplexes – According to the listing agent they will consider a new roof credit at full price.   I have a flyer here with some pictures of the interior because I couldn’t get in to see the interiors.  It was a nice quiet morning that I was over there and I think you’ll be impressed with the neighborhood.   Here’s a video of the exterior.  I was there at about 11 or so Saturday, October 1st.

Below are some Bank Owned/REO types of deals. These are a bit rough.  I call them “beaters” – but they are more commonly known as “fixer uppers” – .

7576-78 Cook Avenue, Citrus Heights, Ca – Listed at $127,900 – This one needs a bit of work.   The Cash Flow figures are based upon the price as if it were fixed up.  I’m guessing it needs something around $20,000 to really do it right.  But after you are done, you’ll have a real nice place and no problem leasing this up.   Click Here for the Video Walk Through.

7214-16 Grady Drive, Citrus Heights, Ca – Listed at $136,900 – As in the above situation, the cash flow figures are based upon the price as if it were fixed up.   I have told clients over the last couple of years that the average you’ll spend on one of these deals will be between $7,500 to $10,000 per side to get these in a really nice “rent ready’ condition.   Click Here for the Video Walk Through

If these properties interest you, drop me a note or call me at any time.

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 Nice Duplex in Folsom – Great Location – Good Condition Too…!

If you are looking for a “coupon clipper of a Real Estate Investment, this might be for you.

339 Montrose, Folsom, Ca - Listed at $267,000

I got an update from the MLS that this duplex had come back on the market after being in escrow for a bit.

So when I rushed out earlier today to take a peek for myself there was a couple from Alabama who are moving here walking around the property.   They have a son living here who told them about this place so I invited them for a peek with me.

Their names were Ken and Dewey(my middle name).   After viewing this proerty, they were excited.    To see for yourself, if you click on the link below you will get a video of the property.

VIDEO… VIDEO…VIDEO…

Ken mentioned to me that he and his wife would like to live on one side and rent the other.   He’s thinking he’d like to get a cash flow… basically have the other tenant pay his mortgage payment.

When I was speaking with him I wasn’t sure that was possible so I ran the numbers.   I have a “pro-forma” analysis showing what your payments would be for this duplex assuming a 3.5% down payment, an FHA loan and a sales price of $245,000.

Get the pro-forma cash flow analysis here.

Let me know what you think…

In the mean time…?

Make it a great day…!

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

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Here’s Some News From Out of The Area…

Is the economy really making a comeback…?

I’m sure you know there are many points of view on this topic.    Please take a minute and read what James Kim of Austin Real Estate has to say about it.   Click Here to get his perspective.  I think you’ll find it useful and informative because Austin, Texas is somewhat similar to the Sacramento Region… Both are state capitals and both have rivers running through them.

In 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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New on the Market… Bank Owned & Short Sale Duplexes for Sale

Take a peek at some potential Cash Flow Investment Properties that I looked at over the last couple of days.

I  have videos along with the potential cash flow figures for your review.   The two that are Bank Owned Duplexes are both in need of work but when you add in the amount it’s going to cost to fix these up, I think it will be worth it.

The reason why I say this is because the rental market is pretty good for properties that have good curb appeal, in good neighborhoods and are updated/upgraded a bit.

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3960 La Honda Way, Carmichael was just listed a couple of days ago. Click here for my “pro-forma” cash flow analysis and evaluation if you are an Investor.   This one is located on a Cul-De-Sac street consisting of mostly single family homes and is not all that far from Sunrise Blvd and the American River Parkway.   If you want a quick street view video I took click here for that.

I’ve done the estimated cash flow figures based upon a lower price because I think the Listing Broker has this priced a little high in my opinion for it to be a good cash flow deal for an investor.  However….  it is in a pretty nice area.

This property would be a great candidate for someone looking to buy their first home and an investment at the same time because they could live in one side and rent the other.  Click Here to see how little you would pay if you lived in one side and rented the other.

Go to RENTOMETER.COM to verify the estimated rents that could be obtained on this property or another property.

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FIXERS… FIXERS… FIXERS….

4207 Casa Blanca Lane, Carmichael is a Bank Owned/REO that is in need of some repairs.  I’ll let the video speak for itself, so Click Here for that.   Click here for the potential cash flow numbers based upon their asking price + the costs of fix up and improvment.  It’s listed at $153,000 and just came on the market on April 6th.

6808 Trovita Way, Citrus Heights is another Bank Owned/REO that is listed at $179,000 which had a quick offer that went into escrow,  but quickly fell out again and is back on the market.  Like the property at Casa Blanca, this one needs some work as you’ll see by clicking here for the video. Here’s the estimated Cash flow figures that I’ve prepared. Please keep in mind when you look at those figures that I’m adding about $30,000 in additional costs on top of the list price to give you a better idea of what it’s real cash flow figures would be.

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Come back here from time to time to get updates if you are looking for an investment like this or you can sign up for the RSS feeds.

Make it a great day….

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

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Check Out Barbara Bender’s Post Regards FHA 203K

You Can Fix it Up Using the FHA 203k Plan.

Check out this article that Barbara put together.

http://barbbenderrealestate.com/2011/03/04/what-is-a-fha-403k/

When you get to her site, be sure and check out the videos of several nice homes in our area.

Click here to see her video channel

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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Want Some Good Advice When Applying for a Place To Rent…?

Never Lie or Give False Information When The Truth Will Serve You Better…!!!

I know times are rough now when we have a what…? 12.5% unemployment here in the Sacramento Region that is reported but I think we all agree it’s much higher than that.   Probably 20% or maybe more.

The reason I bring this up is because we are in Rental Property Management and Real Estate Sales that have been impacted by this recession.    We are out in the field and on the front lines everyday,  collecting rents from tenants who may have lost a job, Owners who are losing their homes and we are facilitating a short sale for them,  or we are dealing with Renters who may have to move because an Owner can’t maintain the payments anymore.

Since I know how bad it is,  I am aware of,  and have an understanding of the circumstances that can arise in the lives of the people that we deal with on a daily bases.

That means, if you have had some credit problems…? just be up front with me or any other Property Manager or Landlord when you need to move because if you lie, chances are we will find out about it.

I wrote about some suggestions and tips that should help folks that need to rent,  to qualify and to let you know what we look for and how you can improve your situation.   Click here for that article if you’d like to see it.

Because of these hard times and the sophistication of many fraud schemes,  the folks that work in our Property Management Company are pretty sensitive and cautious in our “tenant screening”.   Just today we had a lady lie about who her current landlord was, how much and where she made her money and she gave us copies of  some questionable cancelled checks that she said came from her current landlord.  She didn’t have a bank account and couldn’t even show us cancelled checks showing a consistent pattern of paying rent.

We think we know her real circumstances and we understand and sympathize….  But, had she just been honest with us to begin with, we might have been able to work with her.

Not a chance now.   A smart Property Manager, Landlord/Owner will keep a place vacant rather than rent, in the short term, to a tenant that would lie to get in with a questionable income source.

If you are looking for a place to rent, just be up front and honest about your situation because there are folks out there willing to work with you.

Make it a great day…!!

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

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A Super Deal at 3225 Rock Creek Way, Roseville, Ca 95747

I need an offer by December 1st or the bank takes it back.

This is a Single Story,  4 bedroom, 3 full bathroom with thou$ands spent on landscaping.   Click on the picture to the left and you’ll get a slide show with some still pictures.

If you are an investor I have a “Proforma” Cash Flow analysis  based  upon an accepted price of $275,000.  There is no guarantee the owner will accept a deal at this price, but if we don’t get an offer soon, it goes back to the bank.  At this price it does pencil out enough that it should carry itself.    

The Owner is still trying to get more time to sell…   however,  the last time I spoke with the Lender,  I was told we had until December 1st.   We’ll see.

Click here for the numbers. The income is based upon the current rents of $1,865 per month with the tenant also responsible for the Water, Sewer, Garbage and Landscape Maintenance.

Send an offer on this home to me today..!

Click here for a video of the front and rear of the exterior and a short view of the nearby park.

Make it a great day…!!!

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

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