There are four apartments on the upper floors.The neighborhood is 10 years into the early-artist phase and shows signs of other development activity happening, but is still has a lot of drug and prostitution activity.

Purchase price: $3,975,000 Cash invested: $1,025,000 FIXER UPPER-Chateau Montclair sits on almost 6 acres & overlooks a 10 acre lake in the new exclusive gated community, The Montclair.

Almost no body told us about Root barrier, which are simple digging  about 2-3 into the ground, near your foundation to cut invasive  tree roots. 

We often host families from the midwest and upper midwest and that's a long drive to not be sure of exactly what you've rented. 

When I’d reach out, I would simply say something simple like “I'm looking for fixer-upper houses and can buy it off market for an on market price.

Hopefully, this first investment will launch our journey in real estate.Here are some criteria we have in mind:Not in downtown SacramentoClass C+ or B location, since we will be living in one unit (we just want a safe location)Units with shared walls, not ceilingsSeparately meteredFairly renovated or well-maintained (not a fixer-upper, but if one unit is renovated and the others need some work, we would love the experience of fixing and renovating)Can you think of any other factors we should consider?

The goal is to buy a fixer / upper and try to update and sell before building from scratch.

Madrid has been doing this a lot better for example (the difference between a left and a more right business-oriented governing body in charge). 

A lot of people don't have a whole lot of interest in living in constant fixer-uppers, so you have to have the right mentality for that.A variation on it, if you want to live in better homes that aren't great rentals, is to, again, buy homes that are under market because they need some work, do the work, live there 2 years then sell for a profit and keep all of your capital gains.

I am not looking to take equity out against my house, and my other 2 rental properties are already going through a cash out refinance to pay for renovations of a fixer upper that I am buying.