Not usual to see more than a duplex in Walnut Creek. More often than not, its a house with an in-law ot cottage type of things. Straight up duplex probably go for $600,000 to $800,000 depending on location. Recent 2/1 with a separate 1/1 on Coralie was $600,000. That is on the Northwest side of town, Larkey Park area. I can't remember the last 3 or 4-plex. Have to be over $1,000,000.... more
Hello there! My name is Henry Brooks and I would love to help! I currently own 8 properties with 28 tenants from the Bay Area to the Central Valley. I have an office in San Ramon and one in Ripon, so I cover the East Bay, Bay Area & Central Valley. While there may be some good investments properties in the San Ramon area, I can also expose you to better cash flowing investments between, Mountain House, Tracy, Manteca, Lathrop & Salida. These areas are prime for investors and very ripe for the picking! Call or text me anytime @ 209-814-0119 to chat more and set up some time meet at my San Ramon or Ripon office! Thanks, your Friend & Realtor, Henry Brooks... more
Hi there! There's a bit more information I would need from you to see if I can help. What were the circumstances of the foreclosure? What do your current finances look like? If you would like help to see if you can get the refinancing you want, please feel free to contact me.
NMLS # 659743... more
There are so many factors when looking for the right rental property. Also, make sure to include vacancy rate and maintenance as well. It may be good to compare other potential rentals within Bay Point/Antioch to this home as you don't want to rush into something when this may not be the best option. If you're not using a Realtor to search for the right investment property to meet your objective, I think one could be very beneficial. The last thing you want to do is rush in making a big decision when another option may be a better fit for you.... more
Zillow estimates are way lower than what the properties will sell for. This is probably cause, it looks at sold prices. In a hot/appreciating market sold prices tend to be lower than the prices that properties will be listed at. Note that appraisals also tend to be lagging to the purchase prices. Many buyers have to come up with the difference, in order to close the purchase.
Hope that helps,
Bethany real estate and investments
916 230 5250... more
You should talk to a mortgage specialist about it. Every situation is different unfortunately,
For investment properties, there are a lot of factors to consider:
-The property itself
-the amount of money you can put down
-your personal financial statement
Talking to a mortgage broker is usually free and with no obligations. Give it a try!
Good luck.... more
Antioch and Pittsburg are about the only two "reasonable" areas in the Bay Area:
If you choose to see them as expensive, then you're in the wrong game.
And if you think that this is a short term game......... more
Investing in real estate all depends on what kind of return you are expecting. For example, the money you would spend to invest in real estate is getting what interest and return elsewhere?
As far as investing in Contra Costa, generally the cities/areas that have good school districts, close to transportation and close to work are both more expensive, but get higher rental rates. For example, cities like Alamo, Danville, Walnut Creek, Lafayette, Moraga and Orinda all have great school districts, in relatively safe/low crime environments and usually yield one of the highest rental rates in the area. That being said, based on your price threshold for investment, you would be looking at buying a condo/townhome in those particular areas. Therefore, you have to factor in the added expense of monthly HOA dues to your bottomline. This isn't necessarily a bad thing, as a lot of HOA's cover some general maintenance and other amenities that you might not have when owning a single family residence...
I suggest that you definitely cross reference all your searches with the crime statistics for the area. Also, when looking at condos/townhomes, make sure the local HOA's are not at their rental cap (meaning they will not allow for any more non-occupant owners).
I hope that helps, but let me know if you have any other questions, comments or concerns.
Brian Rochford, Realtor
Tom Rochford Real Estate Co.
(925) 285-0439... more
You need a Realtor representing you;
you have too much going on, too many questions.
A Buyer's Agent costs you nothing; they're paid out of the Escrow, by the Seller.
Call Melanie in El Sobrante, at 510-222-9150, at Windermere Rowland Realty.
And, yes, it should be selling for more than 2011 price.... more
Sorry to say but I highly doubt you will find anything in that price point in those areas. In Concord you will find tons of condos. Condos are not always good cash flow investments due to HOA fees though. There are some exceptions. You will find some single family homes in Martinez priced under $200k. They will be older homes but they do rent out well and at fair rental market prices that make those properties cash flow to a point where they can be good investments. But you won't find anything in Dublin or Pleasant Hill.... more
If you're buying a property with existing tenants, make sure you get copies of all the leases as part of your disclosure.
Another resource is go to City Hall's Housing department --- give address of the property and see if it's on their record as being approved (or even required) for Section 8 tenants. Some owners may have gotten low interest loans from the city in exchange for accommodating Section 8 tenants.
For Richmond CA see http://www.ci.richmond.ca.us/index.aspx?NID=86... more
You state that you went to you bank. The bank has one funding source, its own. Banks have rules one day (5 months ago) and change, sometimes, over night. This could be due to many different reasons, but it happens We call this an 'overlay'. A rule that is put in place specific to that entity. Once they are out of the game, you need to find a new lending source that has that product. This is where working with a mortgage broker or banker who have more than one funding source. We work with the banks, as well, but when they change their parameters, we work to find a source that has not put that parameter into effect.
That being said, there are still 20% down payment loans for condos. Your bank more than likely changed its parameters with condos and stated 25% down only. This is definitely an internal choice.
With our pricing, 20% down investment property will cost an additonal 1.25% in points for the same interest rate offered for 25%. Reason being? Riskier loan. More difficult to sell on the secondary market. Add the even riskier condo attachment even more difficult.
Townhouses or PUDs (Planned Unit Development) are different from condos and are treated differently by lenders and even FHA. FHA does not require a PUD to be approved where as a condo project has to go through a complete HOA project analysis. The industry feels that condos are riskier than PUDs.
It would benefit you greatly to work with an indirect lender (either a mortgage broker or banker) who can offer you more than one financing choice.... more