Reputable Agents/Brokers for MF in Sac?

Question

Does anyone know of an investor friendly agent/broker in Sac, who would do more than just send out automated listings? I live in SSF and without knowing neighborhoods in Sac, it takes a lot of time to analyze each one, and once I find something interesting, it usually has an offer pending by the time I am able to drive out there...

Specifically, I am looking to find something that cashflows, so 2-4 units, in decent neighborhoods, even if it requires some value add. Any thoughts?

Derek Jones · Answer

Unfortunately this is what every investor wants and typically cashflow and good neighborhood don't really go together in the Sacramento market.  As an example there is a duplex in Carmichael right now for sale at $375k and it brings in a total of $2200/m.  On the flip side there is another duplex is a not so nice area that also brings in $2200/m but is only listed for $250k.  So you would want to decide if you want the cashflow or if you want the neighborhood.

DJ Dawson · Answer

@Roman S. I too am a investor in the Sacramento area and am looking to grow my portfolio through multi-family units, would like to discuss your goals with you in the area.

I also can put you in contact with my buyers agent who has a great understanding of the Sacramento area (helped my find my last purchase) and goes above and beyond to help me conduct research in the many neighborhoods of Sacramento

Roman S. · Answer

Thank you for replying Ben. Not expecting agents to analyze it for me, but more like filter based on criteria like "decent neighborhood" and may be cashflow (I know this one is hard to get accurate, my be something like 0.75% rent to price). I guess the neighborhood filtering is more of a manual process, right?

I do like your suggestion of FaceTiming the property with an agent. I will try that out with one of the agents I am working with. Thanks again.

Ben Howard · Answer

Hello @Roman S. are you requesting that an agent analyze deals to find "something that cashflows" prior to sending them to you,  or after you have selected a property based on an automated MLS search result that produces the amount of cashflow that you desire?

A good automated MLS search that is setup properly based on specific criteria that you and the agent working as a team select is very effective, especially if you are trying to reduce the chances of "an offer pending by the time you are able to drive out there". That said, many Sellers will be hesitant to accept an offer from an out of area investor that has not seen the home. A solution is often to request that an agent pretour a home that cashflows to your requested level prior with you via FaceTime prior to your visit. An automated search is only as useful as the data that is provided, so working with an agent that knows the area well and then giving that agent as much information as possible will help significantly.

Jonathan Moomey · Answer

I am following this closely as I am a brand newbie, but looking to multi in the Sac area. I am hoping to house hack for my first in the Roseville/Rocklin area, as that is where my wife is adamant about staying for the kiddos. I know this is gonna be a kick in this shorts as prices out here are higher than what I can do closer to Sac, but it will be a foot in the door and a step towards cash flow for the next one I guess.

I would be totally open to suggestions of good brokers if anyone know any out this way!

Roman S. · Answer

@Derek Jones I don't want to pin myself to a single zip code, but I am looking for "safe" areas, that would be easy to rent (close to freeways, etc). I realize that for these the numbers would not work as well (even for multi units), but I would be willing to do 0.65% price to rent ratio and force the cashflow via bigger deposit (assuming the neighborhood is solid).

Derek Jones · Answer

@Roman

What is a zip code that you would consider a good neighborhood?

Roman S. · Answer

@Derek Jones I see the point you are making, but I think there is "good" neighborhood (safe to walk at night :) vs "great" neighborhood (higher potential for appreciation, etc). And today, there are still cashflowing deals to be found in good neighborhoods (with 20-25% down) though aren't as common. I know there are duplexes in "great" neighborhoods that would require 50% down to force the cashflow, and I am not really interested in those currently. I hear there are also some up-and-coming neighborhoods and value-add deals, so those would also be of interest to me. Hopefully this makes sense.

@DJ Dawson thanks for your offer, I sent you a private message.

Ben Howard · Answer

Happy to help @Roman S. I often suggest that clients use the "Crime & Place" app because it will form composite scores for property and personal crime data when an address is entered. So, in your case you could receive a potential investment from your agent's MLS search and then check the data based on it's address.

Neighborhood filtering is very easy for an agent in the MLS. Their interactive map search will allow for a defined region to be added with a selection down to an individual street if necessary. This is often useful when combined with a school district map to determine which schools are assigned to a particular geographic area. A buyer/renter may want a better assigned school as rated on Great Schools.

Reputable Agents/Brokers for MF in Sac?

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