All Forum Posts by: DJ Dawson

I would wait and see man, however first time home buyers USUALLY in Sac are looking in the under 350k range. Those houses are still going and going fast. If you need to buy something relatively soon it may not be a bad idea but only if your budget works with the mortgage payment. Also how secure is your job right now? your wife's job? all questions to consider. If you are chilling right now just waiting to make the right move though I would suggest wait at least 60 days and see how this whole thing shakes out.

If you looking for some advice on areas in Sac that can might fit your needs feel free to reach out

broker isn't getting back to you with trailing twelve? that would be a concern for me... but much like everybody said add some cap ex and some vacancy as well as short term repairs you should be pretty close

Hey @Michelle Castaneda I would suggest a lawyer for this kind of thing, I can suggest one for you. Be weary in CA its about $800 annually for the LLC

@David Barajas the beauty of real estate is that you can structure the deal in a number of different ways. The FHA loan is pretty limited in how much of a "fixer" you guys could purchase, I bet he could qualify for a conventional loan at 3% down which may increase your options (food for thought).

As far as structure goes you two should sit down and discuss length of ownership, exit strategies, etc. I imagine he would be living in it while going to school, he already got a job? what if he can't pay it, or he can be a mini landlord you come to an amount you'd like to see at end of the month and he rent out the rooms? I had a friend do that in college w/ his parents and they made BANK, although they bought in 11 sold in 15 so there ya go, and the house was a sh*t hole half the time due to parties hahaha. 

Either way I think you guys could make something work. You'll come to find though by adding an additional 10k on your purchase (lets just saw 300k @ 4.1%) you only reduce your payment by $60-80! is it worth that to drop 10k additional down? I think you would be better suited using that money towards repairs to BUILD equity rather than PAY for it up front, also if it does need repairs, do em at the end when you want to sell , college kids don't necessarily need granite and stainless steel appliances quite yet :)

Just need to run your numbers prior, discuss strategy, and let it rip :)

Let me know if i can be of any help

@Chandler Miguelgorry Sacramento still a solid investment location especially considering the other markets in California.

While I can imagine a scenario where you hit the 1% rule, you can find some decent deals, just need to dig (or have a realtor who can do some digging for ya)

@Jeremy Brown hit the nail on the head w that this one. Exit strategies are absolutley essential, It may be in your best interest (if possible) to live in the SAME side of said duplex and rent out the other side to a tenant, minimizes your side of the expenses and can allow you to get some experience being a landlord.

@Romil S.Roseville is really nice , but we are reaching near all time highs when it comes to property values so always tread lightly if appreciation is your game

Hey @Romil S. 

1. What is the potential for appraisal? Historically in last 10 years what has been YoY increase?

- Yoy increase has been strong in Sacramento, obviously 10 years ago we were coming out of the recession so there was double digit increases but over the last 3 years increases have been modest between 2-5%

2. How easy it is to rent out SFH? What is typical time on market for rental properties to find tenants?

extremely easy, demand for a nice rental property is at an ALL TIME HIGH in Sacramento, if you are appropriately priced you should be able to rent it out in no time.

3. Any specific pockets in Sacramento that has more growth potential over other?

I would say oak park, natomas, meadowview/pocket, and west sac are my current favorites in regards to growth

let me know if there is any way I can be of assistance as I am a local realtor here in Sacramento :)

@Mike Esposito whats up Mike I am a local realtor here in Sacramento and I would have to say looking into the Oak Park area would be a great start in regards to south sac areas that are up and coming, other areas I would suggest looking into would be north and south natomas, west sacramento, and the meadowview/pocket areas

let me know if i can be of assistance in any way!

thats SOLID!! to get a tri plex in west sac under 133k / door is a WIN. You will benefit greatly from appreciation over the next few years west sac is poised to BOOM