All Forum Posts by: Scott Scoville

Hey Eunice,

Congrat's on starting your RE journey! I'm an investor and real estate agent in Sacramento. $80k might work if you're funding with a hard money loan, as they typically require less down and also can fund construction costs. What type of properties are you interested in?

Hey Maria,

I manage long term rentals in Sacramento and get 99% of my leads from Zillow. Vacancies are low if your rental is priced right. I recommend looking at other rentals in the area, similar location, bed/bath count, square footage, and condition. Zillow rent estimator is not very accurate in my opinion. Also, get professional photos with drone, showing the neighborhood. Let me know if you have any specific questions and I'd be happy to chat more about this. 

Quote from @Mohan Indugula:

Hi,

Thanks in advance.  I live near Tracy. I feel better to invest in California where I can drive easily like Fresno, Sacramento, etc., I see few of my colleagues are investing in Florida. I would like to get your feedback. 

Hey Mohan,

Both are solid markets. It depends if you're wanting to outsource property management, rehabs, etc., or do them yourself. Cashflow is challenging to find in CA, unless you look at creative opportunities like rent by the room, MTR's or STR's, etc. Both states are seeing difficulty in getting home owners insurance or at the least a rise in premiums. 

I am an agent and investor in Sacramento and like to have eyes on my properties. I also handle the property management and rehabs for my properties. I'd be happy to chat if you'd like to hear some of the strategies that myself and some of my investor clients are utilizing in Sacramento. Have a great rest of you day!

Quote from @Joseph Greenebaum:

I currently live in CA and can't leave in the forceable future. My current goal is to buy a single family residence and rent it out (Not sure if I want to do that in CA). I've read a couple books, so far including  "Real estate by the numbers". After a bit of reading, and hours of podcasts and videos, I still feal completely lost as to where to start. My idea now is that I can get my real estate license and the course will teach me some stuff about how the numbers work, and how to find deals and how the process will go in general. I also bought into the Real estate basics bootcamp here on Bigger Pockets. 

If I go out of state I have a lot of questions such as:

How do I find an agent?

How do I find a property manager?

If I decide a deal is good, how does all the money get moved around and how do people get paid.

Ultimately, I feel like I'm so green, I need a solid foundation and the best place I can get that is through some of these courses...and becoming a Real Estate Agent. Would this make sense or is there a better way? I already have a full time career that I'm very satisfied with so I wouldn't be working as an agent..its more just to acquire the knowledge.

Hey Joseph, getting your real estate license would definitely open up doors for you. It also allows you to see properties and get additional info on the MLS more quickly. As an agent, I've been able to lock up deals faster and more consistently once I obtained my license. In the mean time, find an agent that will help you get your real estate investing journey started and one that also understands that you may be getting your license soon as well. My advise is to be up front about that. In regards to property management. If you're open to it, try to manage your first couple of properties. Learn through trial and error before handing it off to a property management company, as you'll better be able to know what you want from a property manager. Best of luck and don't hesitate to reach out!

Hey Rickey,

House hacking is one of the best ways to get into real estate. I've been investing for a while and still house hack my primary, with an ADU rental above my garage. While cash flow is more challenging to find in Sac, it depends on your strategy. Short term, mid term, or long term. I'm still buying personally and for my real estate clients in Sacramento, and getting great deals still. Would be happy to chat further if you have time.

Hey Jase,

I work with a lot of investors from the Bay Area, who are now investing in Sacramento. It's close enough to go and view properties, and even self manage if you choose to. It's a great rental market, low vacancies, and the entry point is much more reasonable than the Bay Area. I'm an agent and investor in Sacramento. Let me know if you ever have any questions about the Sacramento market. Best of luck.

Hey Matt,

Following this thread. I'm an agent and investor in Sacramento. Just spoke with a real estate attorney last week about Sub2 deals. I'm looking at a couple of Sub2's currently. I'll let you know how they go. Hopefully get a chance to close on my first one. Best of luck and keep us updated if you close on one.

Hey Deepen,

I'm a strong believer in the Sacramento market. I'm an agent and investor in Sacramento and have built a portfolio of SFH's and Small Multi Family properties. While cash flow has become more difficult to find with increased interest rates, I shifted my focus to buying properties in better locations with the intent of holding them for a longer time horizon. The job market is solid, and Sacramento is the #1 place people are moving to from the Bay Area. Vacancies are low, and rents remain high. Class A properties may not cashflow, but they are the best bet to hedge the inflationary economy that we are in right now. Let me know if you'd like to chat about the Sacramento market further. Best of luck.

Quote from @Daniel Molina:

Quote from @Scott Scoville:

We just finished our most recent Buy & Hold in Elmhurst, a historic neighborhood in Sacramento. This property is steps from UCD Med Center. Our value add was adding an additional bedroom without increasing the square footage of the home. This house is steps from the expanding UCD Med Center complex and will offer housing for medical professionals for years to come. We had an appraisal done on the property, and are planning to BRRR or take out a HELOC on the property in 1 year. Also, just closed on a fixer in William Land Park and have started renovations. Will share details on that property soon. In the meantime, take a look at our Before & After and Flythrough videos below, along with our property numbers.

Before & After Video

Flythrough Video

UCD Med Center Renovation 

Sacramento, California 

Purchase: $495,000

Renovation: $103,500

ARV: $765,000

Rent: $50,340 (Annually)

Hi Scott, nice work! Will you be LTR or MTR on this home? Those are some really good numbers on rent. 

 Hey Daniel, this is an LTR property. 

Hey Ritesh,

Congrat's on starting your journey. I'm an investor and agent in Sacramento. Currently I'm working with many BP investors from So-Cal looking at investing up in Sacramento. I'd be happy to chat it you're interested. Looking forward to hearing more about your real estate goals.