All Forum Posts by: Noel R.

@Robert T. I spent the afternoon on Renick yesterday and walked the property with an awesome PM, thankfully it has changed. The PM knew the area and had avoided it in the past. He commented how much better it is now. It also looks like one of the bad units is under construction though there is still another 1 or 2 left.

@Derek Jones I did think about requesting he initiate the 10% rent increase prior to closing. It is my understanding that in California there is a temporary bill which limits rent increases to 10% max every 12 months.

@Gordon Cuffe Appreciate your honesty and bluntness. Numbers are tight now with tenants paying below market rents. Hoping I can weather the storm and get them to market, which will have them cash flowing.

@Derek Jones Thank you for chiming in the property is a quick on or off from the 80. I personally wouldn't be walking the streets after the sun set. Do you have any knowledge or experience with the area?

@Reymon Hernandez Thank you for your insight on the local area. I have been working through the process and found a great PM whom I will be working with. His suggestion was to avoid the SHRA as their system is quite the hassle in his experience. Current tenants are not on section 8. I am hopeful for this unit.

@Wes Blackwell Thank you for the link to the crime site. Great advice. Walked this unit yesterday and spent some time outside on the street as well. From what I understand it has been cleaned up a bit and it appears I might be in the process of purchase a unit and helping the cause. 

Looking at a investment property in North Highlands and just wanted to get the local crowds take. The property is a duplex located on Renick Way. This appears to be a C- neighborhood though the 80Watt movement is happening and may be a reason to be hopeful. Any local investors share to comment on the area?

https://80wattdistrict.com/

Anyone else? Besides home and pest inspection what else is standard?

Been listening to podcasts and surfing the forums for years now. Finally found an off market deal where the numbers are tight but it works for my long term goals. 

Duplex with 3/2 on each side and 1 car garage. New roof going on as I type with current rents at $1000 but market rent is $1300-$1400. 

Found the deal by picking up the phone and talking to an agent about a current listing.

Best part is offer was accepted at $290K and an identical unit just hit the MLS at $360K.

Now the due diligence begins. Working with a realtor, but any and all advice greatly appreciated. 

That doesn't sound very promising. Best of luck!

@Rob Hakes Any updates?

Payed an arm and a leg in taxes this year (I know not a bad problem to have) and want to reduce the cost next year. If I purchase a property which will break even at best and possibly cost me a bit can I make up the difference in tax savings? The other assumption or gamble here is over time the property will appreciate and rents will increase to a point where I no longer am losing on the investment. Thoughts?