There is a sweet spot in Sacramento for B-class multifamily for STR/MTR, and some LTR, where the numbers can make a lot of sense from a Cash-on-Cash standpoint, while also enjoying equity appreciation and meaningful tax benefits.

Pretty sweet deal!

I put a Cash Offer on a CitiMortgage REO Home for $30K, Asking price is $35k, needs some TLC but for the most part, it would be a sweet deal.I put the offer on the day it came on the market with my Realtor who had to present to listing agent...My realtor followed up with the LA because of expiration and she said that the home has to be listed for 7 days in order to accept any offers....?

The voicemail then tells them a little about what we do, we also tell them that we are investors and we expect to make a profit so we need to buy at a discount or pretty sweet terms.

Also, there were tennants renting one floor who are not on a lease but tennants at will - one of the stipulations also was that these tennants could stay at the rent they are paying (at will) otherwise if we wanted it vacant - they would need to be given a months notice and hence deal would not close by end of Feb.Well we went to see the house and really liked it - we figured that tennants could stay as is until deal closed and then we could revisit the issue.Asking price - 399KWe were told sellers bank had agreed to a 380K short sale - nothing less.We found out that the home had been under contract twice before but fell through - the realtor said it was due to financing issues.We crunched the no's and figured 380K was fair - not a sweet deal but fair and from comps it looked like FMV in this market was approx 380K.We put the offer in subject to inspection & financing.Offer was accepted.We had the inspection and all was pretty much as we expected.We had already been pre-qualified for a loan so we felt confident all would move quickly.Anyway we received the signed purchase offer but it wasn't in the name of the actual owner it was in the name of an investor.And from what we could gather, this investor had taken it off the hands of the distressed home owner and had worked out a short sale with the bank.We had our attorney take a look at the draft of the P&S the seller's attorney sent over and we realize this investor has just recently acquired this house from the homeowner who was obviously in distress and apparently our bank doesn't approve such transactions ie. a seller who has not held title for minimum 60 - 90 days unless we put a substantial amount of money down.My feeling is the seller's agent should have been more clear about this - that it wasn't a typical transaction and since financing had fell through before, i feel they should have asked us who were using and probably gave us an idea whether such a lender would approve it.We can try now to look for a lender who can push a deal like this through and close by end of February.I also feel this investor who has worked out the short sale has worked it out much less than 380K and is basically making a few $$ himself, why else would he be involved.

Renting is not the sweet deal you expect.

My team is comprised of agents with are active investors and Oakland is right in our sweet spot.

Please, stop trying to sweet talk - take responsibility and admit the truth.

That being said, if he elects to stay and squat in the property, you will need to evict him like any other tenant, which can take time and court costs.You clearly are a sweet and sympathetic person.

Thank you, Jason.Thank's Jason,That is correct.For Toledo the sweet spot is North of HWY 475 (preferable further North of Sylvania Ave) and West of Lewis.I am actually looking at moving into that area in the near future.Its hard to believe how good the numbers are that i am considering to live their.I can tell you that I would never want to live where i invest haha the same would go for most other cashflow investors.Thanks and have a great day.