All Forum Posts by: Joe Bertolino

For me,  $125/door cash flow would not be enough for me to invest there.  

@Yulyana Karpava

Yes, it can be done.

Adding to this topic is todays news that California North State Hospital is in negotiations with Rancho Cordova for their new $1.2B teaching hospital after Elk Grove dropped the bag.  They will build up to 649 beds in two phases,  roughly the size of the UCD Med center that employs 10,000 staff.  

https://www.bizjournals.com/sa...

Oak Park and North Oak park has been turning over for awhile.  I was getting houses for $75-90k in 2015/2016.  I would have bought more and held them had I envisioned prices going where they are. The med center expansion will help kick start more development.  If you can get something at a good price there is a lot of demand but for me the bottom isn’t low enough right now and it’s still quite gritty.

That being said,  I have a 4plex on 37th I will be listing next week if anyone is interested. 
  

Natomas,  West Sacramento,  parts of Rancho Cordova.  Citrus Heights down the road if the Sunrise Mall redevelopment takes place.  Where are new employers coming to and where are you seeing significant public money flowing.  Keep an eye on the Business Journal to see public projects  and employers.  Watch where the money and jobs are flowing.  Significant development,  not a Starbucks.  Starbucks recently closed 400 stores,  they have saturated every natural market so they are reaching out more and more.  

In Natomas you have Centene and others bringing in 10,000+ jobs,  the zoo likely moving to the old Arco Arena site,  major warehouse and distribution centers at Metro Air Park, likely light rail to the Airport.  

In West Sac you have the new I street bridge connecting it to downtown,  CalStrs adding another tower,  multiple housing projects, the $200m riverfront California Indian Heritage Center, etc.  

Rancho has a new community center, new hospital,  expanded Los Rios comminuty college campus,  huge redevelopment at Aerojet bleeding into Folsom Ranch.  

There are a bunch of plays all over the region,  I just don’t see much upside in that part of South Sac, North Highlands, Rio Linda, etc.  It’s cheap for a reason.  There is no reason for public and private money to pour into those areas. 

It’s not really in the path of progress and there is no major driver for growth.  There is some potential in 95823 that is zoned for Elk Grove Schools.  

I am an agent but prior to going into real estate full time I have sold a few investment properties FSBO. It's a really hot market and there is a chance you will get a good price on your own. Try it 10 days including 2 weekends. It's either gonna pop quick or not. If it doesn't, hire the agent who has impressed you.

 Respectfully or not so respectfully because you are insulting... you don't know what you are talking about.  Like,  not at all.  You can't send a MCO without multiple offers.  It is a department of real estate compliance issue and your broker will part with you for something like that. Every file goes through your transaction coordinator and brokers compliance manager at a minimum.  I guess it could happen at a one man brokerage but they would be called out to the local board quickly.  It doesn't take a rocket scientist to see the traffic on a house and know if there are multiple offers.  

When representing buyers your goal is to get them in a home that meets their needs as quickly as possible regardless of price.   If you do a good job you get paid,  you get referrals, you get repeat business from them and their family.    If you don't then you may or may not get paid one time.   Agents make 2.5-3% so to suggest buyers agents really want to drag things out and make you overpay is stupid.  You think agents want to drag things out, delay getting paid and drive a client crazy to make an extra $250.oo?           

 How rural are we talking?  There are areas in Sacramento where rents are exploding with virtually no vacancy.  There are also plenty of areas that cash flow with ample forced appreciation.   

@Kathleen Brady

The rental market is very tight. 15% of the posts on my Facebook feed made up of realtors is them searching for a rental for a client and about 15% of the posts on Nextdoor are looking for a rental. The last rental I advertised were was in 95826 and there were 2 other homes or duplex listed. 6900 homes in the zip code and 3 were available for rent along with some apartments. There is a severe housing shortage in Sacramento.