- Sacramento Real Estate Adventures - Your Sacramento Real Estate and mortgage blog!

I am a little late in posting my thoughts from our last Sacramento Investor Tour 2 weeks ago.

On our last tour we viewed homes primarily in the South Sacramento area.  I am still amazed at what you can get for your money in the current real estate market.

One home stood out above the rest and was a favorite of the Investors who joined us. It was in a decent neighborhood and was priced at around 60k.  It was a single family home and was cute as a button.  It was a 3 bedroom 2 bathroom home that needed very minor issues addressed and it was rent ready.  We estimated, based on typical rent for the area and 25% down, that this home would net approximately 300 a month. 

One point I would like to make is that homes for under 100k in the Sacramento Area are on fire right now!  In fact one of our clients put an offer on the house above for all cash but the home was already in escrow by the time the contract hit the listing agent.  Deals like this one are not on the market long, so it is important that Investors react quickly in order to even be considered.

I'd also like to remind folks that the cleaner your offer is the better your odds will be at getting the home. I do see both sides of the coin in regards to getting the home.  On one end you want to get your offer accepted but on the other hand your goal is to get the best deal you can. It is a tight rope many Investors will have to walk, especially with homes under 100k. The best advise I can give you is don't get emotionally attached to the house you are making an offer on.  You will need to have patience when playing in the Sacramento real estate market in 2009. With potential limitations on your ability to get funding and/or leveraging your current investment dollars, it will be important to choose your next investment wisely.

The best advice I can give you is take your time, know what you need to meet your investment goals, and remind yourself that there are great investment deals everywhere.  If you find a gem and do not get it , there are 2 more right around the corner!

If you would like to join us for our next Sacramento Investor Tour, give us a call and we will get you signed up!

Do you want to join us and preview Sacramento Area Real Estate Investments? Saturday, December 6th, 2008 8:00am - 12:30pm

Do you want to join us to find properties at deep year-end discounts? A group of local investors are getting together to look at real estate in the Sacramento area that would make good long term investments. For this tour we will be looking at homes in the South Sacramento Area. Our focus is rentals that will cash flow and are in good shape. We are staying out of the battle zone areas and will be previewing C grade neighborhoods. This will not be a high pressure sales situation. Just a group of folks who have similar investment plans looking to invest in real estate in the next 6 months. There is no cost to join us, but we ask that attendees have funds of approximately $20,000 set aside (down payment and closing costs) to invest. Because we only have a couple spots left, we want to make sure everyone on the tour has similar investment plans. There are only a couple spots left! It will be fun! Join us and we will buy you lunch after the tour! Register Now >> Or call Erin at (916) 687-6868 ext.2 to RSVP!

This group is a much more intimate group than the tour we had which was featured in the Sacramento Bee.

This ad posted by:
Team Newington
Sacramento Mortgage Planners
www.SuperiorLoanTeam.com
(916) 687-6868

Do you want to join us and preview Sacramento Area Real Estate Investments? Saturday, December 6th, 2008 8:00am - 12:30pm

Do you want to join us to find properties at deep year-end discounts?     A group of local investors are getting together to look at real estate in the Sacramento area that would make good long term investments.   For this tour we will be looking at homes in the South Sacramento Area.  Our focus is rentals that will cash flow and are in good shape. We are staying out of the battle zone areas and will be previewing C grade neighborhoods. This will not be a high pressure sales situation. Just a group of folks who have similar investment plans looking to invest in real estate in the next 6 months.  There is no cost to join us, but we ask that attendees have funds of approximately $20,000 set aside (down payment and closing costs) to invest.  Because we only have a couple spots left, we want to make sure everyone on the tour has similar investment plans.   There are only a couple spots left! It will be fun! Join us and we will buy you lunch after the tour! Register Now >>   Or call Erin at (916) 687-6868 ext.2 to RSVP!

This group is a much more intimate group than the tour we had which was featured in the Sacramento Bee.

This ad posted by:
Team Newington
Sacramento Mortgage Planners
www.SuperiorLoanTeam.com
(916) 687-6868

Join at the next Elk Grove Real Estate Investment Group meeting! Wednesday, October 8th Networking 6:30-7pm Meeting 7pm-9pm If you own or manage your own rental properties or you plan to, don't miss this event!

Posted by:
Team Newington
Sacramento Mortgage Planners
www.SuperiorLoanTeam.com
(916) 687-6868

As promised....  Here are the pictures of our Bus (aka Van) tour! This tour focused on homes under $150,000 in non-battlezone areas.  We wanted all the homes to be in areas where you would feel safe visiting at night.  Although there was a debate on the bus about one home in particular in North Highlands.  Some Investors were fine with the area.I personally would take a portion of the estimated cash flow of $922 (it was a duplex) and invest in a property manager!

Nothing like some donuts and Starbuck's coffee to get the morning started!

This one was a cute little home in the south Natomas area.

It needed paint and carpet and it was ready to go!

It had "good bones"!  Large back yard, large living space and kitchen and backyard patio with huge backyard.

Estimated cash flow for the Sacramento Investment Property: $ 384

This property was a duplex in the North Highlands area.  Both sides had 2 bedrooms/1 bathroom and a 2 car garage for each unit.

The estimated cash flow for these untis would be $342!

This home was most Investors favorite.  Whoever owned the home must have been a tile contractor. 

This cute house in Foothill Farms was cover in custom tile.  The kitchen had brand new cabinets and granite countertops. 

The only thing this home needed was a general cleaning and it was rent ready.

With a purchase price under $150,000 and an estimated cash flow of $279 a month, I would be surprised if this home stays on the market long!  In fact our group put an offer in on this one!

This one was my favorite.  It was on a corner lot and had RV access from both sides. 

This was one of those homes that needed some love but immediately made you feel good when you walk in the door.

Again, another home that just needed carpet and paint before you could move in a renter or a rent-to-own client.

Estimated cash flow for this one is $371 a month.

We bought those who wanted to "hang out" after the tour lunch.

Keep in mind that I mentioned most of these homes just needed carpet and paint!  BUT a home inspection had not been completed so other repairs may be necessary.

We are scheduling another tour in 6 weeks!  If you would like to attend, please call Erin at (916) 687-6868 ext.2 to register.

By the way, cash flow was based on conservative rents for the area and the Investor putting 20% down.

Join us for our next tour!  It is a great wasy to visit parts of Sacramento you might not thought to look at!  Socialize and network with other Investors currently looking in the Sacramento market with similar investment plans.

This Blog by:
Team Newington
Sacramento Mortgage Planners
(916) 687-6868
www.SuperiorLoanTeam.com

I really do!  Every since my first home purchase I have been hooked!

This weekend one of our favorite Realtors, Todd and myself, took a group of folks out to look at some area investment deals in the Sacramento area.

What a great time!  We met a a local Starbuck's and headed off in our van to check out Sacramento investment deals up the 80 corridor. 

The biggest shocker most people have when attending our real estate bus tours, is the amount that the home had previously sold for (or in some cases refinanced).  There were obviously some questionable practices on determining the values in order to get to the previous mortgage amount.

We looked at 8 or so potential opportunties scattered all over the place.  We looked at homes in Foothill Farms, North Highlands, Citrus Heights, and Natomas. I think there were a couple in Sacramento, but after a while it was all just a blur!  The scary thing was I was driving! 

There were some dozys that were good for investors  who were not afraid of a little elbow grease and the questionable neighborhoods and there were some darling little homes that would great for a lease option renter.

The consitant theme was potential investors were shocked that you could get a Sacramento home to cash flow and the huge number of great homes under $150,000. 

Some of the homes we looked at needed just general cleaning and was rent ready.  Most homes needed carpet and paint and a timer on the sprinkler so the lawn would turn green again.

It was a great way to spend a Saturday morning and I can't wait to do it again.  We are scheduling another tour in about six weeks so if you are interested, give us a call.

I will post some pictures later today!

This blog by:
Team Newington
Sacramento Mortgage Planners
(916) 687-6868
www.SuperiorLoanTeam.com