How's the Fair Oaks area? I'm thinking of buying a house there to rent out. How does that compare to Elk Grove?

Asked by Erose2k, Roseville, CA Wed Sep 7, 2011

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Sue Archer R…, Agent, Palm Harbor, FL
Wed Sep 7, 2011
What is your objective in buying an investment property? You might want to sit and discuss with realtors who specialize in investment properties.

Are you looking for the best return? How much management will you be doing personally vs. hiring? Are you good with paying more for a home based on expecting a higher resale value?

As Elizabeth answered you in anothe question, sometimes it's best to buy in your own backyard. You can monitor it easier, you know the demographics and how to attract tenants to that area because you're familiar with the features of the area....

Why not consider Roseville? if you're considering Fair Oaks, Carmichael, Elk Grove...all have pros and cons, depending on your investment objectives.
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Jim Walker, Agent, Carmichael, CA
Thu Aug 2, 2012
Focusing on this area or that area is an owner occupant thinking, not investor thinking. You don't have to learn all the areas, neighborhoods, enclaves, villages, blocks, streets, courts, and shouldn't try. You aren't sending your kid to school there. You aren't commuting to work from there, you won't be sleeping there, or dealing with the neighbors on a daily basis. So - change your question.

Oh okay. If you are going to self manage, then close to home or close to business might be convenient. Or maybe somewhere along the commute route. If you hire a property manager, then where it is matters far less than: " do the numbers work for your financial plan?"
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Donna Burnett…, Agent, Roseville, CA
Wed Aug 1, 2012
Fair Oaks is a very strong market and desirable market. Prices tend to be a little higher than many surrounding areas of North Sacramento, Carmichael and Orangevale.
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david fritsch, Agent, Sacramento, CA
Fri Jan 6, 2012
I can put you on my housing portal with your specific interests, specifications, etc.. Houses that meet your criteria will be automatically sent to you. Let me know if you still need help in finding an investment property. Also if you just have any general questions about the various areas I would be happy to help.


Paragon Real Estate
916 420 3388
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Bud Zeller, Agent, Folsom, CA
Sat Sep 10, 2011
Hopefully you will rely on assistance from experts experciened and knowlegable in each of these area markets. Plus, experts generally recommend staying near the area you live in.
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Jim Walker, Agent, Carmichael, CA
Thu Sep 8, 2011
I like the plan to hold for 7 to 8 years. By that time, a whole new generation of first time buyers will have grown up, and the foreclosed and short sellers of today will have finally outlived the stain on their credit records.
The useful factors to focus on for your search are: Market rent as a percentage of sale price (gross rent multiplier),
estimated renovation, maintenance and carrying costs, including all expenses involved in owning a rental property. and financing costs.

Picking the geographic area to focus on is not as important as whether the property will cash flow positive. If the numbers make sense then the area makes sense. (with some caveats, such as avoiding super high crime areas or houses that are in truly awful locations.

Yes Roseville is pricey, $200K here is not the bottom, but there is less to choose from in this price range than in neighboring Citrus Heights or Antelope.

It is almost a full hour to get to Elk Grove from Roseville, which would be why I would recommend that you include Antelope and CH as well as FO and Carmichael in your search. > But, to revisit my earlier thought, the house that makes cash flow sense for you could be anywhere.
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Sue Archer R…, Agent, Palm Harbor, FL
Thu Sep 8, 2011

I think you can find some in the Roseville area under 200K, but again, there's the questions of how much work you want to put in to make it a 'sturdy' rental property. (on a rental property it would be silly to put top of the line amenities in if you expect they won't be taken care of).

there's various analyses to be done, like the return you would realize. It depends on factors like how much cash you are investing, vs. debt when comparing to investing in other alternatives. So much has to do with personal preferences that it's best to sit down with a realtor (even if it's on the phone) and discuss those in detail. That might make it clearer in your mind.
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Tamara Dorirs, Agent, Carmichael, CA
Thu Sep 8, 2011
Hi there,

I think it, as the others have indicated, depends upon your goals and purposes. It might be interesting to point out though, at least in my recent experiences, that I am selling a lot more homes in Elk Grove in the 150's than I am in Fair Oaks in the same price range. In fact, one of my listings in Fair Oaks seems to be impossible to sell at an under market price, which I can't figure out.

All that said, I agree with Sue in that you might be best off picking up a rental in whatever area you are nearest to and most familiar with. This is especially true if you do not plan on using a property management company and you may be the one running to the rental when things go wrong.

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Erose2k, Home Buyer, Roseville, CA
Wed Sep 7, 2011
Hi Sue,
My main objective should be generating a steady stream of income from rent. I'm planning to keep it for 7 - 8 years and then resell when the market improves. I've considered Roseville but I'm afraid that it may be out of my price range (200k).
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