Lyon Real Estate
What group do you represent and how do you play into the picture. I personally would think there are plenty(see more) homes in this price range in Florida.
What is your position size, how are you going to manage these, I would like to know more about what you are trying to accomplish to see how I can best help you.
I also think that 25% return is something that will not happen very often.
It would be my pleasure to work with your team of real estate investors. I am the proprietor of Cornerstone Property Management, and and our primary business is to assist in investors in the purchase of income properties in the greater Sacramento area, and then market and manage them as rental properties. We have a list of approved vendors from flooring, painters, handyman, and to landscapers and plumbers to aid our clients in the renovation. We can also be hired to coordinate the renovation for out-of town investors.
Capitalization rate = Net operating income divided by price,
$800/month x 12 months = $9600 (average rental rate for a 2 bed/2 bath condo or half plex)
$9600 divided by $85,000 (average price of of 2 bed/2 bath condo or half plex) = 11% cap rate
Once the investment property is ready, our team will market them as rentals through onsite signage and flyers, our website and various other rental websites. Sacramento area is ripe with many great deals of undervalued homes to purchase as income properties. Most of the homes for sale here are either bank owned, short sales, and auctioned homes at the court house. We are a one-stop real estate company that fits your real estate needs. Please call me at (916) 419-5513.
I can help you with your real estate needs. There are plenty of areas I can show you that fit that criteria. Finding undervalued home can be found with greater recognition with specific software. The best way to get in contact with me is through my website or 415-705-9405.
I list and sell REO and investment properties. Your looking at homes and duplexes in the 40-100K range rents are 800-1046 for 2 bed 1 bath. I currently have a duplex listed at 94800 that would rent for 1600- 2092 per month needs about 10k in work. 2-4 units are ranging from 80k to 250K with similar rents per unit.
I'd be very interested in working with your investors. In the Sacramento area, habitable homes that would be good for rentals will probably range from $80,000-$100,000; condos from $60,000. Any less than that and you would be looking at major renovation prior to renting.
As you are probably aware, many listings are short sales in this area and can be very good buys if your client(s) are willing to wait through the process, generally 4+ months. More bank repos are coming on the market again and we expect more this spring.
You can view my resume by clicking on the blue link below.
Thanks for your time.
the bottom of your price range is too low to have habitable single family homes.
A 10% return is achievable in some cases. A 25% rental return is fantasy.
Click on the link for my detailed contact info, bio, resume, opinions etc..
I include my email here disguised to automatic email harvesters: jim dot sells dot houses at gmail dot com