Grass Valley stripped home

6 Replies

Goodmorning biggerpockets! 

Could anyone do me a favor...Tell me what you all think about this place. I've been practicing analyzing deals and want to see if i'm tracking. Thanks 

780 Miller Pl, Grass Valley Ca. 

Lance

@Lance Teodecki hi Lance. I live in Penn Valley and am an active investor in the area. Feel free to reach out to network. Regarding that house, it is in a pocket neighborhood that would be difficult to flip for a high value but might be great as a buy and hold/rental.

It's an older house so watch out for structural issues and electrical. Otherwise you need to provide more info as to your goals etc because your question is very broad. There are many ways to invest in real estate. What are your potential exit strategies? Wholesale the contract? Flip? House hack? Buy n hold? Brrrr? How would you finance? Cash? Private money? Bank? FHA? Etc.

feel free to get in touch with me to discuss and learn more. Btw congratulations on your interest in real estate investing. Done right it is a sure way to build wealth over the long term. Greatest of luck to you!

As another local, I'll echo what David said about the neighborhood. It's great for rentals, but I'm not sure you'll even get what you'll have to put into it to fix it up. Also, important question for your analysis, are you going to be doing the rehab yourself, or do you know who will be doing the work? If not, please know that there are several-months-long lead times for local contractors.

David: I recognize your name! Our kids attend the same school.

Ok thank you

Im saving and waiting watching Oroville and Yuba City area. 

The seller would carry loan but required 100k down. I def wouldn't mind a buy hold rent situation 

But cant do the 100k and have $ to rehab.

Would be doing alot of work myself. Not a pro but i have some skill. Thanks for replies 

Such an exciting field of work