All Forum Posts by: Jake Weir

Hi @Marie Murphy,  can you please send me more info in a PM or to [email protected].

@Chris V.  The last couple listings that had me nearly writing offers were two fourplexes on E. Walnut.  I had been watching them for a while, then the list price dropped 10% to $205k and $185k.  Stated rents were $2450 and $2200.

See the end result at the link below...

View Listings

I hadn't really considered North Stockton until your posts.

How about this one?  Google street view shows garbage and mattresses piled in the streets  Is this  a not good area or bad area?

https://www.redfin.com/CA/Stockton/6226-Porterfield-Ct-95207/home/19821824

Thanks for another great post @Chris V. I started looking at Stockton a few months ago as I think Sacramento is too far gone for cash flow. It doesn't seem hard to find cash flowing properties (even on the MLS), but a bit harder finding acceptable returns in neighborhoods I'm only starting to learn about. Some rules of thumb about areas have been helpful, also Trulia's crime mapper gives one an impression about gun violence and violent crime.

@Jessica SorensenWhile Sacramento may not be the hottest vacation rental market, the Convention Center seems to be always buzzing.  AirBNB could be a fun thing to try before you go longer term rental.

Anyone with MLS access can look up tax records for you.

@Don Jackson Greatschools.com is a popular website for school ratings and has a plug-in on the site for google maps so you can compare with however you are reviewing your potential properties.

If I'm understanding your background correctly, you've been managing the East Sac property that you jointly own with others, claiming the rent as income, etc.  Some loan products will allow you to count rents on the subject property if the buyer has two years of property management. This really helps one's Debt-to-Income when qualifying if the ratios aren't otherwise in line with the minimums with W2 income alone.

I'm sure some loan experts can fill in the specifics I'm lacking as to which loan products can use current/projected rents when the buyer has two years management experience...

@Frank Lienert Welcome to BP!

I think you'll find that your equity in East Sac and experience managing the rental will be invaluable when getting a loan on your next endeavor. Also, I see you are a RE agent. I am as well, and I find the MLS access invaluable for analyzing deals, looking at comps, and seeing potential rents.

@Rene Macias Welcome to BP and congrats on your first purchase!

Being an Appraiser, you should be in good shape understanding valuations.  There are numerous people from Sacramento who ask/answer questions.  Feel free to jump in and contribute where you have experience to lend.

Also, make sure to set up a few key words ("Sacramento" and others)...  You'll receive a notification when someone mentions one of your key words.  This is a great way to hear about subject matter/topics you are interested in.

@Derrick Craig In Sacramento, there were a lot of properties going in the mid to high 300's near the peak mainly TONS of new development.  If one had unfortunate timing, the value may have been cut in half.  In many areas, much of the value has returned to pre-recession levels...Some areas though, are a still a bit below those peak levels.