All Forum Posts by: Account Closed

The Huber Law Group (http://www.huberlawgroup.com/about-us).

Classmate of mine from law school, Ben Fox, handles the litigation but Jonathan, the partner, handles the estate stuff. Free consult if you're interested. 

$200-300k in Sacramento would be a B- to C neighborhood (Oak Park, North Sacramento, Citrus Heights). A-/B neighborhood (Curtis Park, South Land Park, midtown) in decent condition is likely starting at $400k.

What do the other Sacramento people say?

If its a desirable area in Sac, and the permit thing works out, the buy and hold strategy might be an awesome option. With that square footage, you can conservatively get $2,200/mos. ($1/sq. ft.) in rents, and probably even more since everything would be brand new in one of the units (no need to go super high end with the finishes on a rental, either). 

I rented my duplex in the South Land Park area in 5 days for $1.17/ sq. foot with TONS of highly qualified applicants. I'm sure I could have easily gotten $1.20. At that number, you'd be getting $2,628/mos. And while my unit is very clean and shows well, it is not brand new like yours would be. I can only dream how much I could have gotten in actual Land Park!

I think the rental market in Sacramento is really strong right now, and having a tenant in there while you fix the parking situation may help soften the initial cash flow burden.

As far as comps go, I would simply make sure it is an apples to apples comparison as far as the property type goes. Five miles can make a huge difference in neighborhoods here, but there simply may not be as many MFs to compare. As long as the comps are MFs with similar bed/bath setup as yours, I would go with it. Comparing a 2/1 with a 2/2 makes a huge difference. Many of my applicants would not have even considered a 2/1.

In any event, sounds like an awesome opportunity. Good luck working through it and let us know what happens!

Loving this thread. Thanks, Andy for starting it.

@Justin Cooper and @Derek Jones, thanks for the recommendations. I'm in the South Land Park area and need a kitchen counter top installed. I'll check out your recommendations!

@Franklin Romine

 Thanks! Allied had not only the best rate but also a higher coverage amount. Appreciate all the feedback. Now time to find a tenant!

@David Avetisyan That's what i was thinking. They are giving me replacement cost re: cost to rebuild.

@Derek DaunGreat advice. Appreciate your insight. I forgot about the changes the Feds made after New Orleans.

Hi BP!

I'm comparing insurance quotes right now for an owner-occupied duplex in Sacramento. All the quotes default with no flood or earthquake insurance. 

For my CA people, do you carry earthquake coverage? Why or why not?

Also, I'm being quoted right around $1,100 yr for a place built in 1991 with liability of $300,000, and a $1,000 deductible (personal property $200k). I do not want to increase my liability coverage at this point. Do you think I can beat that $1,100/yr number?

Hey BP family,

After a 9 month search and over a dozen offers, I'm closing on my first property, a duplex in the South Land Park neighborhood in Sacramento. 

My question is, what should I give my broker who has walked this newbie through financing options on each offer? He always responds to my emails, even at 10pm on a Saturday, and has been extremely patient and honest about my situation.

I would like to keep the gift professional, but thoughtful. I don't know too much about my broker except that he is married. 

How do you guys and gals thank those that helped you out? 

I will be there. Thanks for setting this up.

Midtown, Tahoe Park, Carmichael, the Pocket, some Land Park. I have pretty much learned a little bit about every neighborhood in Sacramento by driving/riding my bicycle by during different times of the day/night, touring homes. and talking to neighbors and other home owners. 

I have noticed that inventory has been stagnant since about October. Hopefully the Spring brings us all more opportunity to "shop"!