All Forum Posts by: Scott Scoville

Hi everyone
I own a single-family home in Folsom CA. It is a 4 bed 2 bath house built in 1990. It has been rented out as a complete unit for 3 years now. 
My problem is that this house has a negative cash flow.  Mortgage is 3400 while rent is 3200. This excludes 800 a month in property tax. I have not included the insurance which is about 1500 a year.  As you can see, I lose an average of 1100 a month over this house.

I am wondering if a short-term rental could be a better choice for me.  The house is in a great school district. It is for this reason I bought the house but my family does not want to move there.  

How can I reliably calculate the potential income from the house if I switch to short-term rental?  

Thanks

Good day everyone,
I have a rental SFH in the Sacramento, CA area. I got a renewal bill for insurance and it is a little over double the amount i paid last year. There was a jump even last year, but I decided to stay with that insurance provider.
Can you suggest a few good insurance providers that operate in that market?
How effective is it to negotiate the insurance amount with the existing insurance provider?

Thanks

Suhaib

Hello, anyone doing MYR in San Francisco or Sacramento who is willing to share their experiences ? How’s it going ? What are regulations like ? Who are your typical clients and how do they find you?

Quote from @Scott Scoville:

Any numbers on projected STR revenue? Curious how this works out for you:-)

Thank you Scott for reaching out! My apologies for not responding to you sooner. Looking forward to connecting. STR rental was $3,500 to $6,000 per month, depending on season. However, very glad that we pivoted to mid-term rental approach around $4,500 to $5,000 that has helped address vacancy. Generally speaking, I would not recommend STR in West Sacramento, however, we'll see if that changes with the A's coming to town :)

Hi! I'm an aspiring investor hoping to move to Sacramento with my wife this year, and we'd like to do a house hack in a multifamily residential property. This won't be our first time living in Sac but our first time doing so with a keen eye on real estate. 

I'd be interested in any insight on the Sacramento market, esp. from investors in multifamily. Lots of questions: Which neighborhoods should be avoided? Are there team members (RE agents, wholesalers, lenders, PMs, contractors, etc) you'd recommend? How have you found success finding deals in today's market? What are "typical" rental terms in Sac (e.g. does owner or tenant pay utilities, trash, water etc) for your properties? Are there REI networking groups you'd recommend? I'm seeing a lot of homes up for auction (mostly SFH but some multifamily) around town--do you have any insight into this trend (why all the foreclosures?) or any experience buying homes at auction in Sac? Are there any bedroom communities near Sac you've had success with?

Truly grateful for anything you're able to share!

I was talking to my brother on the phone and would like to get others educated opinions on the matter. I live in Sacramento, and have noticed that people are offering either equal or above asking price even for homes that sometimes need 80-100k in repairs and I can't see how they would even make a profit doing that. Am I doing something wrong when it comes to determining the current value or even the arv of a home? This has been a reoccurring situation over and over again and it’s getting me frustrated and I’m starting to question what exactly am I doing wrong.

Thanks in advance.

Hi Folks - I am looking to invest in multi-family in Sacramento, CA. Which areas should I be targeting?

Mainly looking for appreciation rather than cash-flow.