Tag Archive for: Property Management Orangevale

Looking For a Real Estate Investment That Carries Itself..? Check These Out…!

We’ve got recent price reductions too…!

 

good_deal

If you have been looking for an “investment” type of property and have followed this blog site for any length of time, you know I’m a big fan of Mulit-Unit properties.

The reason is most of the time you’ll never have a vacancy of 100%.

Is a Four Plex in your future…?

Take a peek again if you haven’t already at this Four Plex at 5544 Keoncrest Circle, Sacramento which consists of all 2 bedroom 1 bath units, central heat and air, fireplaces in 3 of the units.  Each unit gets a Garage Space and garage door opener.   There is an “on-site” laundry that is free to use for the Residents of this building.

Click Here to get all the information including a video of one of the units

How About A Duplex…?  We got several.

1.  955-957 Woodshire, Sacramento – 2 bedrooms, 1 bath, 1 car garage one side & a 2 car garage on the other – Was priced at $289,000… Now Reduced to $259,000 – Located in a Pride of Ownership area consisting of primarily single family homes.   Rents could be raised some on this one.

2.  7226-7228 Oconee Court, Citrus Heights, Ca – 2 bedrooms, 1 bath, 1 car garage each side – Priced at $259,000 – Located on Quiet Cul-De-Sac Street in a great area near Parks, Schools and Shopping.   Great tenants on this one and both want to stay.  On month to month and could have rents raised some.   One side has been totally remodeled with a new kitchen.

3.  4713-4715 Greenholme, Sacramento, Ca – 2 bedrooms, 1 bath, 1 car garage each side – Reduced price at $204,950.  Fully leased with great tenants.

4.  4717-4719 Greenholme, Sacramento, Ca –  2 bedrooms, 1 bath, 1 car garage each side – Reduced price at $204,950.  Fully leased with great tenants.

NOTE:  Someone would be smart to buy both of the Greenholme properties since they are side by side. 

5.  4548-4550 Zachary Way, Sacramento, CA – 2 bed/1 ba/1 car gar & a 2bed/2ba/2 car Garage.  Occupied by long term tenants… one over 11 years.   Priced at $219,000.   OWNER IS WILLING TO CREDIT $5,000 for new paint & carpet.   This property has had the same tenant on once side for almost 18 years and the other side for about 10 years.

AND FINALLY…

6.  Two Houses above the valley fog on One Lot in Cameron Park, located at 3825-27 Cambridge Road.  CLICK HERE for pictures and a cash flow sheet.   Priced at $515,000

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If you have thought about making an investment, now is a good time.   Interest rates are still at a low level, all of these properties are decent shape with the owners willing,  within reason,  to make repairs that are needed when discovered in the “due diligence” inspections.

You Need A Property Manager…?  We also offer the 1st 3 months of Property Management if you buy these or any other rental property through us.  Our property management services can be found 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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Sacramento Fourplex – Fixed Up – Rented Up – Check it out Below

Nothing To Do Except Collect The Rent Now..

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5544 Keoncrest Cir, 

Sacramento, Ca 95841

 

All units are 2 bedrooms 1 bath and include a 1 car garage for each unit.

This was a “bank owned fourplex” that has been refurbished and updated inside and out.

We have a great tenant profile and all the units are currently leased up.

Click Here for additional pictures and more information.

Click Here  for the “pro-forma” cash flow analysis.

Take a drive by the area and let me know what you think.

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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I Have A Couple of Sacramento Duplexes for Sale… See Below…!

They Are In Good Areas… Bring Me an Offer…!

Our Office has recently listed some Duplexes for sale in various parts of the Sacramento Region.    We do manage one of them, the others are managed by different property management companies.

This Owner is moving out of the area and wants to liquidate these properties.   They are all “occupied”.  Rents on some of them are low because they have been occupied by long term tenants.

The links below will have some pictures, some will have “cash flow” figures and short videos of the exterior.

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1.  955-957 Woodshire, Sacramento – 2 bedrooms, 1 bath, 1 car garage each side – Priced at $289,000 – Located in a Pride of Ownership area consisting of primarily single family homes.

2.  9398 Mary Ellen Wayu, Elk Grove, Ca – 2 bedrooms, 1 bath, 1 car garage each side – Priced at $269,000 – Located in a Pride of Ownership area consisting of primarily single family homes.  One unit has been totally updated, the other unit is in good condition but not updated.  Click here to get the slide show and short video of the exterior.

3.  7226-7228 Oconee Court, Citrus Heights, Ca – 2 bedrooms, 1 bath, 1 car garage each side – Priced at $259,000 – Located on Quiet Cul-De-Sac Street in a great area near Parks, Schools and Shopping.

4.  4713-4715 Greenholme, Sacramento, Ca – 2 bedrooms, 1 bath, 1 car garage each side – Priced at $209,950.  Fully leased with great tenants.

5.  4548-4550 Zachary Way, Sacramento, CA – 2 bed/1 ba/1 car gar & a 2bed/2ba/2 car Garage.  Occupied by long term tenants… one over 11 years.   Priced at $224,900

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Need financing…?  Give Dana Reed, Folsom Branch Team Leader, , of Big Valley Mortgage a call at  916-768-4298

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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Sacramento Area Duplex Market – Latest Report – Guess What…?

Yes There Is More Inventory and Fewer Sales.

I’ve noticed this recently as I drive around the region.   Below is the graph that shows the market in the last couple of months and I think you’ll agree the pendulum is moving back towards a Buyer’s market.

Don’t get me wrong.   There are properties out there that get multiple offers if they are in great condition, have the rents at market and of course “priced right”.

Anyway… check out the graphs and data below

 

Duplex Sales - July - Sept 2013

duplexes days on market

I hope you found the above useful and informative.

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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It’s the Fall Season – Now’s The Time to Improve The Landscaping..!

Trees In this Area Raise the Value of Your Home Or Investment – Some Helpful Links to help you pick the “right tree”…

Anyone who follows this blog site or is a current/past client of mine knows how I feel about the impact of  good landscaping on a Home or a Rental Investment Property.

Here’s a short slide show below that shows a “before” and “after” of a Duplex in Orangevale that we manage.

Today is Sept 29th and already you can feel the evening air is a little more crisp and mornings are kind of chilly.   I bet you have noticed in the last couple of days that the trees in the area are beginning to change their color.

What Kind of Tree

We are having a discussion right now in our company regarding landscaping improvements and a planting day for various properties we manage throughout the region.    Among the discussion was some suggestions of various kinds of trees.

I’m partial to deciduous trees because they are fast growing and give some great colors.

Here’s a great resource to help you find the right tree.  It’s the Sacramento Tree Foundation’s website.

Here’s a list of what they will tell you that I found informative.

  • The Scientific Name
  • Mature Height
  • Mature spread
  • Leaves
  • Fruit
  • Root system – where it has large surface roots
  • Where you can see a “specimen”
  • and… “minimum” planting distances from fences… pools… between trees etc.

I looked up Red Maple and took a drive out to Carmichael near the intersection of Oak Avenue and California Avenue to get a picture of it.  It is a big tree as you can see.  I didn’t have time to go to the other locations that show smaller specimens.

If you wanted to see what a mature tree looks like before you plant it, this is a great resource for you.

I hope this gives you some useful information.

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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Home Protection Plans Getting Tough on Claims…!

For Big Ticket Items, You’d Better Beware and Don’t Take the Short Cuts

First American

Home Protection Plans have been around as long as I’ve been in the Real Estate business and I’ve made them part of just about every Real Estate transaction I’ve been involved in.

They are useful if you want to try and keep your “repair costs” down.   I always recommended this service whether you are a Home Buyer or a Real Estate Investor and you’re buying a property that is not brand new construction.

Fidelity Home Protection

 

Did you notice I didn’t say “maintenance”…?  That has always been your responsibility..!

 

I’ve Noticed Some Changes Recently

It seems to be an industry trend because I’m getting the same treatment from more than one company and that is, they are closely scrutinizing service calls,  especially for HVAC  systems.

I have an old friend who is a long time Escrow Officer for First American Title Insurance Company which owns First American Home Buyer’s Protection.   She purchased a Duplex in Roseville through me in 2005 and we have been managing it ever since.   On a recent service call for one of the air conditioners, First American H.B.P.Corp demanded to see a recent receipt from the owner that we had actually completed a “routine” servicing of each of the units…. BEFORE THEY WOULD GO OUT.

Luckily we had done that because they weren’t going to complete any repairs if we hadn’t.
It also didn’t matter that she was a 35 year employee of First American Title.  You’d think in that case there’d be some “dispensation”, however, there was no sympathy even for her.

In another case, Fidelity National Home Warranty, was reluctant to make repairs even though my client had purchased the property almost a year ago.   They wanted to see if we had completed a “home inspection” prior to the purchase which we had not done.   We did however have the Air Conditioners inspected prior to close.

My suggestion is if you are going to purchase a home or an investment property be sure to:

  • Have any Heating and Air Conditioning unit inspected before you close escrow.  
  • Have it serviced annually.    

If you don’t do the above…?   You might be on the “short end of the stick” as they say and be stuck with an expensive repair.  They are now looking for a way to deny your claim if they can show you didn’t maintain it.

You don’t want to have an argument with them if it’s 110 outside and you need service.  You don’t want to be a Landlord and your tenant calls up with a service request for a non working unit.   They won’t care about your relationship with the Home Protection Plan company, they want it fixed NOW…!

By the way… if you need services for your HVAC system, call or email me and I’ll give you the names of some people we use that are very reasonable because we deal with this a lot as part of our Property Management business.

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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More Inventory of Duplexes – Not Bank Owned – Traditional Sales

Been Looking for a Duplex…?  I’ve got a few profiled below…!!

I’ve been out and about the last few days looking at property.   I have noticed with the rise in interest rates, some buyer resistance exists at the higher prices some of the Sellers of these duplexes have thrown out there.

Below you’ll find some properties that are currently rented.   I’ve provided a proforma cash flow analysis of each one, with what I think they should sell and rent for.  In addition I’ve added a short slide show/video of the exterior of each property and immediate surroundings.

I hope you find this useful and informative.   Let me know what you think.

I’ll have more later… hopefully today.    The ones above though are pretty decent,  given the rise interest rates.   As I wrote above, I do think some of these sellers are asking a lot when you factor in the rents are low in most of them and there may not have been any updates/upgrades.   I have not seen any of the interiors so it’s difficult to tell their real condition.

I’ll be out looking at more property in the next few days so come back soon.

 

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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Bank Owned Fixer Upper Duplex in Citrus Heights…!

I like the location but it will take some work and imagination

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I ran across this Duplex located at 6553-6555 Mauana, Citrus Heights when I noticed that the listing agent had reduced the price by $25,000 down to $200,000.   I think it’s still overpriced because of it’s condition, but in this market who knows for sure.

I have estimated that to do this right you’d need about $45,000 in fix up, but that will mean you will wind up with new kitchens, bathrooms, paint etc.

After the fix up, if you could buy this property at that price it would still have a decent cash flow given the current market.  Click Here to see the Proforma Cash figures for 6553-6555 Mauana, Citrus Heights

Take a peek at the short walk through video here below.  Let me know what you think.

 

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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Real Estate Sales Will Stay Steady And Maybe Increase Even If Rates Go Up Some…!

Mortgage rates increasing to the 4% range are still historically low, but…It’s not the point of this article.

Don’t you think by now that most of us active in the Real Estate Market in this region are aware that the economy here is on the upswing…?   If you are a Broker or an Agent, a Mortgage Loan officer, a home buyer or an investor active in the last couple of years this is old news to you.

Yes… I know interest rates helped to make it advantageous for many an investor,  especially if you had to finance a deal to get in.  I’m not going to panic over an increase in interest rates right now.

I’ve told just about everyone that I have ever worked for in a real estate deal, “the only reason prices haven’t gone up more is high unemployment”.

Here’s the latest headline from today’s Sacramento Bee Front Page.

Jobless rate plunges in Sacramento and California

Below here you’ll see some anecdotal evidence based on my experience to support my opinion.

English: The mall in Roseville, CA.

  • Traffic has gotten much more crowded on the local streets.   I see a lot of people at Restaurants, Entertainment venues and Shopping Malls.
  • Multiple Offers on a small supply of homes for sale – I know you have heard about that.
  • The Residential Rental Market is in great shape especially for well located and well maintained properties such as Folsom, El Dorado Hills, Roseville, Granite Bay, Fair Oaks, Gold River.   After only a week on the market, we recently leased a home in Empire Ranch for $2,850 with the new tenant paying the water, sewer and garbage.
  • Phone Book/Internet Searches – We are now getting calls from prospective tenants looking to move into a rental having difficulty finding a decent place.  They found us under Property Management listings hoping we had something they hadn’t seen elsewhere or maybe we had something “coming up”.
  • More “traditional” real estate transactions that are not Bank Owned/REO or Short Sales.
So… if you are thinking things are going to change anytime soon,  would you agree with me that it’s not going to be bad ?

Make It a Great Day…!

Ed Favinger, Broker CRS, GRI, SFR, CDPE     favinger@rwnetwork.com   916-203-1260
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A Rare Rental in Empire Ranch… Backs up to the Golf Course

Take a Drive by 1796 Langholm, Folsom, Ca

 

This is a 4 bedroom 3 bathroom, 3 car garage.

$2,850.00 – We mow the grass too…!

 

Parks… Schools…Folsom Lake recreation area and lots of neighborhood Shopping all close by.

 

 

 CLICK HERE FOR MORE PICTURES AND EVEN A VIDEO

 

In the mean time…?

Make it a Great Day…!

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