All Forum Posts by: Joe Bertolino

@Deepak Arora

Try El Dorado Savings, Golden Pacific Bank and Safe Credit Union.  They are the main local portfolio lenders that can be flexible.  

Personally I like Natomas.  More large employers, the new CA Northstate Hospital campus (that EG fumbled on), airport access and better access to Downtown.  I helped my mom buy 3 new builds with K Hovnanian in 2019.  They are a breeze to rent to professional tenants.  No hiccups during Covid.  

The secret is a 5 bedroom Section 8 rental in 95834/95835… SHRA pays over $4000 in that zip.  

I grew up in Rocklin/Roseville and a few years ago I spent some time taking a hard look at the Merced area.  I almost bought a gas station in Winton.  I see the lower entry point and the growth.  I was partnering with the former mayor.  But overall there just was not really any reason to be there other than if you were from there or were tied to the school.    My fear would be the exit.   If the market turns places like Merced will take the brunt of it.   If covid variations keep popping up I think colleges are in big trouble.   Nobody is paying full tuition to take online classes while living at or near the school.  Or maybe kids and parents catch on and educate in other ways.   At this point there isn't a major penalty from employers for going to school online vs in person.  Roseville area has a much stronger and diversified employer base and people that really want to live there.  

$710K'ish for a B+ area in Sacramento... I would probably ride it out losing $300/month. I also think you will be surprised at what rent you can get as there are so few SFR's on the market.

How much is her section 8 voucher for?

10-15% down on an investment property is tough to find. There are always cash flowing deals to be had.

El Dorado Savings might be a good fit for you.   Portfolio lender so you can go over 10 houses.  They use a loan committee so you have real people looking at your big picture rather than the individual transaction or strict guidelines.  Very competitive rates. There are a few branches near you.  

What’s the zip code?  That may or may not be a deal worth doing.  

 West Sac,  Rancho Cordova, parts of Carmichael.   You need to turnover tenants but the deals are there.  There are a lot of old mom and pop landlords that never raise rent and when they need to sell they end up paying the price for that.  

There are plenty of deals in Sacramento where you can get modest cash flow and good appreciation with 20% down.