Home Buying in Roseville>Question Details

Homeboy, Home Buyer in Roseville, CA

Need investment property - condominium in Roseveille - suggestion?

Asked by Homeboy, Roseville, CA Tue Mar 22, 2011

Looking for a condominium < $200K in the Pleasant Grove/Blue Oaks area. Pls let me know your recommendation..

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For that price range, I would look for an SFR in the Roseville area and you'll be able to find plenty. Dont' forget you'll have the added expense of HOA fees on top of your regular payment when you purchase a condo, not to mention the resale value is better on SFR homes.
0 votes Thank Flag Link Tue Mar 22, 2011
Clearly there are lots of options for condos in your price range in Roseville.Have you gone over all of the numbers associated with owning a condo in this price range vs the rate of return? With HOAs, monthly mortgage payments, possible vacancy, and maintenance fees, there may be better investments for you.

I'm working with an investor to purchase less expensive condos in other areas that rent for nearly the same amount as in Roseville. Or you could purchase a single family home and not have to worry about the HOAs. Other options include purchasing a duplex in your price range and having two sources of income coming from one purchase. A single family home or duplex may be possible in Roseville in your price range.
0 votes Thank Flag Link Tue Mar 22, 2011
Jim Walker answered:
The following is a partial list of condo complexes in West Roseville with listings in the requested price range (not an endorsement of any particular unit or complex, legal and financing status not searched for entire list):

Strada and Campania off of Fairway, between Blue Oaks and Highland Park Drive (five to seven years old)

Villages, The Reserves, Venu on Gibson Drive between the Galleria and Pleasant Grove
( eight to ten years old )

The Villas, Woodcreek Oaks Blvd. at Blue Oaks Boulevard. (eight to ten years old )
This is one with the pending construction defect litigation. Wow what prices!


Villemont, Pleasant Grove and Chambord (between Wal-Mart and Roseville Parkway ( three to five years old )
0 votes Thank Flag Link Tue Mar 22, 2011
Jim Walker, Real Estate Pro in Carmichael, CA
MVP'08
Contact
Homeboy, to answer your question, there are several condominium complexes <$200k in the Pleasant Grove/Blue Oaks area such as Villemont (Pleasant Grove/E. Roseville Pkwy), Strada and Campania (Fairway/Blue Oaks). You can Google "villemont roseville" or "strada roseville" for more info about the communities and you can even search available listings on most real estate websites.

When you're ready to work exclusively with a real estate broker who can offer you investment advice based on experience, feel free to contact me. I've bought and sold 3 properties in Villemont and Strada and specialize in Roseville investment properties and foreclosures. I buy properties at trustee's sales and rehab/flip them or hold them for cash flow. If you're interested in seeing the prices other investors have been paying for Roseville properties at Placer County trustee's sales, the "Web Reference" below is a link to last week's data.

Leilani Souza, Broker
SouzaRealty.com / SouzaRealty.net
(916) 408-5500
0 votes Thank Flag Link Tue Mar 22, 2011
There is a nice development of detached townhomes right there, with several units for sale between $175-200k. They are like free standing homes, with 2 car garages, with small, low maintenance backyards and the HOA takes care of the front. The units are 3 bedroom, or 2+ den. I've sold a few of these, and they are really nice!

Feel free to give me a call and I can tell you more. Or please send me an e-mail and I can send you the listings.

Tom Pohlman
Keller Williams Realty
916-300-9119
Tom@RosevilleCAProperties.com
0 votes Thank Flag Link Tue Mar 22, 2011
I am working with several Buyers in both Roseville and Rocklin that are purchasing condo's. Give me a call and I can go through the list with you of what condo's are in litigation and what condo's accept fha loans etc. There are also patio homes available that may be a good fit.

Katherine Farless
Keller Williams Realty
916-284-1520
http://www.thefarlessgroup.com/testimonials.html
0 votes Thank Flag Link Tue Mar 22, 2011
Homeboy,

Have you searched for Homepath properties? If you're unsure of what these are or need more information, please let me know. This can be a great angle on investment properties and you can see what's available at:

http://www.homepath.com

Thank you,

Rob Spinosa
rspinosa@rpm-mtg.com
0 votes Thank Flag Link Tue Mar 22, 2011
I would be happy to email you listings that meet your criteria. Why is it that you want a condo? Often times it is because homeowners don't want the yard maintenance. It is sometimes less expensive to hire a gardener than to pay the HOA's. It is always easier to resell single family homes than condos.

Debbie Baldes, Broker
ExecutivePropertiesOnline.com
(916) 960-0612
0 votes Thank Flag Link Tue Mar 22, 2011
Hello Homeboy. Are you a cash buyer? Many condos can't be financed these days either because the HOA is in litigation or the tenant occupancy rate is too high. I am looking for a cash buyer for a condo that's not on the market yet. For $200,000 you might be able to buy two nice units. Like I said, cash is king.
0 votes Thank Flag Link Tue Mar 22, 2011
Ute Ferdig -…, Real Estate Pro in New Castle, DE
MVP'08
Contact
There are a few complexes with units in the low 100k range, the catch is it must be cash. The reason they are cheap is due to the HOA being in litigation. Make sure the agent you choose verifies any complex you’re interested in will allow for an investor because of the owner occupied ratio’s in place. In my opinion if you’re in the 200k range I’d advise looking at small single family homes with no HOA fees, You’ll get a better return on investment.
Brian Frank
916-402-4697
0 votes Thank Flag Link Tue Mar 22, 2011
Homeboy,
There are many great options for you.
All price ranges..

Keep an eye out on the HOA Fees.

Check to see if you will be able to rent.
Many locations have already exceeded the option to rent out the property.

Contact a Realtor who will answer those questions and get you into the
right investment opportunity.

I am happy to help you explore the many options available to you in 2011.

Michele Peterson
Keller Williams Realty
(916) 743-5934
CallMichelePeterson@gmail.com
0 votes Thank Flag Link Tue Mar 22, 2011
If you would like some help let me know... You can reach me at 916-300-8114. Jay Friedman RE/MAX Gold...
0 votes Thank Flag Link Tue Mar 22, 2011
Good Morning,

There are several bank owned properties in your target area ready to get into escrow with buyers. Please send me an email and I will send you the list with pictures, square footage, maps and prices.
0 votes Thank Flag Link Tue Mar 22, 2011
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