My name is Oliver and I'm currently seeking a realtor to connect with that's operating in the Sacramento area, that's familiar working with investors, to help me locate a multifamily unit for my first rental property. My plan is to live in the smaller unit and to create positive cash flow by renting out the others under the guidelines of the 2% rule if feasible. I have been researching and building my education in real estate the past several months and believe this would be a great chance for me to begin acquiring experience as a landlord as well as a way to begin my investing career to create long term wealth. I have my finances in order and can roughly afford a $40,000 down payment.
If anyone else is familiar with or has experience purchasing or holding duplexes, triplexes, and rental properties in Sacramento, I would love the opportunity to connect with you and hear your insight.
Thank you for your time and consideration in advance.
Many will say that living in half and renting out the other half is a great way to get your foot in the door, and buy your first property...Nothing wrong with that! Also, congrats on accumulating the down payment!
A few comments:
More often than not, you cannot find a 2% property in Sacramento. It's not too difficult to find a 0.75-1% properties. But it is tough to find them in decent/up and coming areas that have good upside for appreciation/increased rents. If this is what you are after, you should be prepared to be very patient.
Depending on your criteria, it might take months and a dozen offers to find what you are looking for...just wanted to set that expectation. It is much easier to find 1% properties in rough areas (undesirable to most people): Del Paso Heights, parts of South Sacramento, parts of Oak Park.
Basically, you should see what areas you're comfortable living in, what kind of cash flow that can provide and think about if you are happy with those numbers. I have MLS access and know some areas very well/others not so much. Feel free to fire away follow up questions or PM me if your curious about a specific property.
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing