All Forum Posts by: Gordon Cuffe

Why would anyone pay more than it is worth ? 

@Christian Perry I am a mortgage broker in the Sacramento area. I also like to fix n flip around the Sacramento area. 

@Sue Deng Would you like to build a home in the nice suburbs of Rocklin CA 95765?  I know of a vacant lot that the owners wants to sell. it is the only vacant lot on the street. 

@Akshay Bhaskaran A guy that I know who owns many real estate companies and makes 10's of millions of dollars each year always says dont worry about getting it right just get going. You dont need different scripts for each property types. A simple opening can be " hi do you own 123 hight st?" if yes then ask are you interest in selling now or in the near future?"   Asking if they own the address is just to make sure the skip trace was correct.   If you get a deal in round rock, please tell me . 

@Jolly Singh I have lived in West Roseville for 20 years now and have watched the population explode and homes go way up in value. Bay Area residents will keep moving here but I do not know why anybody would want 1200 per month in negative cash flow. Roseville is a great place to buy a primary residence. I know of a duplex for sale in 95827 zip code for 555k that will get 3600 in rents. Those numbers make more sense compared to a Roseville house at 500k that rents for $2500.0 per month. 

@Sejin Kim I live around Sacramento. I buy out of state for cashflow. If you do not own anything in the Sacramento area yet then the first thing you can do is buy a primary residence or duplex to rent out and live in one side. There is going to be a new loan program where a owner occupied person can buy 2 to 4 units with just 5% down. You can pm with any questions about the loan program or other questions. 

It seems like it is harder to connect with people on biggerpockets unless you pay a subscription. I want to find off market deals in the kansas city market. My challenge is finding a realtor who will run comps to see if the potential deal is good or not. I had a realtor who would do that for me in the past but he seems too busy to do this anymore. I am not a new investor so dont worry about me asking you a ton of questions. 

@Jake Andronico If you get a great off market fixer upper deal, please send it my way. I want to buy a fixer upper near you if the numbers make sense. 

The graph says it all. There were 1438 homes sold in the three county area surrounding Sacramento. Last year in September 2022 there were 1868 homes sold. There were fewer homes for sale in September  2023 at 2576 ,compared to 3944 homes for sale in September 2022. It seems like these higher interest rates are limiting the number of qualified buyers and lower the number of sellers willing to sell. It seems like the owners who have the rates below 3.5% are not willing to trade them in for rates in the 7% range for their new home purchase. Now the rates have jumped a 1/2% the past three weeks. That is going to slow down the market for the winter months. 

@Elle G.listen to this experience with a cleaveland rental. I know of the hiden city out of state to buy in. you can pm me.

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