SACRAMENTO investors? The major problem I keep running into...

[Jeff Kobernus]

Good morning Bigger Pockets,

I currently am a full time real estate agent in the greater Sacramento Area and was just wondering if any members would active investors in the region?

I have made offers on the last 5 properties for myself and lost out on all 5.  I am not here to complain but rather to shed some details on the situations and hear if anyone else was investing in the area finding "decent deals" and how they were doing it?

The last two offers I made were on properties that were "fixers."  The first property was priced at $389k.  I made an offer of $414k all cash, 7 day close NO contingencies 50k deposit.  I ultimately tried to get a quick response from the seller who delayed all reviewing of offers until the 27th.  Over the next few days they ended up with 20 offers and I ended up not getting it.

The next day another property came on listed dat $275k and immediately put in an all cash offer of $305k same terms quick close no contingencies ect in the hopes of getting a quick response.  Seller delayed his response and eventually lost out on that one.

Both deals had the possibility of flipping and making in my estimation making 30-40k top with 8-10 week turn around time to get it listed.  Obviously my offers were not high enough but I assume people are willing to make less on the return side?  I have a solid contractor with prices that are tough to beat so I feel good with him just curious if there was anyone out there doing it.

Thanks!

[Enrique Huerta]

Sorry, I didn't answer your question. We are finding decent deals and the way are doing it is just by cultivating relationships with real estate professionals and analyzing everything that comes our way. Also, this is just my opinion, but $30k-$40k margin is a little tight for today's market. It's up to you and your risk profile, but that is my thought process. Idk your average price point, but you can probably sell a couple homes in that timeline and make the same amount of money with less risk.