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Updated over 9 years ago,
Sacramento Investor Friendly Realtor Recommendations for Rental Property?
Hello,
My name is Oliver and I'm currently seeking an agent to connect with that's operating in the Sacramento area, that's familiar working with investors, to help me locate a multifamily unit for my first rental property. My plan is to live in the smaller unit and to create positive cash flow by renting out the others under the guidelines of the 2% rule if feasible. I have been researching and building my education in real estate the past several months and believe this would be a great chance for me to begin acquiring experience as a landlord as well as a way to begin my investing career to create long term wealth. I have my finances in order and can roughly afford a $40,000 down payment.
If anyone else is familiar with or has experience purchasing or holding duplexes, triplexes, and rental properties in Sacramento, I would love the opportunity to connect with you and hear your insight and discuss the area.
I'm not local or native to the Sacramento area so there are some gaps in my knowledge that I am still looking to fill, but several of my friends and colleagues have recommended me to avoid "battleground" areas such as the Arden area and Oak Park. I'm hoping to avoid rougher areas to minimize my risk for property damage and vandalism. Anyone have knowledge on appreciating neighborhoods or areas they would recommend? Additionally, from my research it appears that rents are going for around $400-600 per bedroom and duplex 2b/1br rents are generally within the range of $600-$1,200 on properties priced around $100,000-$200,000 which seems to make the 2% rule nearly impossible. I am hoping to make the numbers work to at the very least to be able to live in one unit for free with positive cashflow left over using the rent to cover the mortgage payments and holding costs. Is this a realistic expectation? And if not, how should I modify my criteria?
Thank you for your time and consideration.