More real estate advice needed....... | FerrariChat

More real estate advice needed.......

Discussion in 'Other Off Topic Forum' started by Edward 96GTS, Dec 4, 2003.

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  1. Edward 96GTS

    Edward 96GTS F1 Veteran
    Silver Subscribed

    Nov 1, 2003
    9,301
    #1 Edward 96GTS, Dec 4, 2003
    The board has certainly demonstrated that we have a large number of real estate investment gurus. I would like to tap into you collective wisdom and ask for your advice. I'm 3hrs away from a very expanding region known as the Central Valley in Calif. New planned communities are springing up in Fresno/clovis and I have an opportunity to buy a 4bdrm/3bth 1750 sq ft home for $232000. It is brand new and the last in a phase of homes. Rents go for approx 1000-1200/mo. Can this be made to work financially? Appreciation in Calif seems to always grow at a rate greater than the national ave. I welcome you responses. The builder(who I met in my other car club) is also allowing me to buy in the first phase of his next community up the road.
    TIA
    Ed
     
  2. davem

    davem F1 Veteran
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    Jan 21, 2002
    8,243
    Stepford, Connecticut
    Full Name:
    dave m
    #2 davem, Dec 5, 2003
    Edward. If your looking to rent this out at $1000-1200, there is no way you will make money.
    Now if you want to live there, who knows about future appreciation.
     
  3. JSL

    JSL Formula 3

    Jan 5, 2002
    2,212
    California
    Full Name:
    J.S. Leonard
    #3 JSL, Dec 5, 2003
    Feel free to give me a call at 559-650-6016. I may know just a little about the Fresno/Clovis area. Actually, I'm am the owner and CEO of the largest Real Estate Company in the central valley, Guarantee Real Estate Corporation. You can look up my company at www.guarantee.com. There you will find access to the entire inventory of properties in the area. I would be happy to speak with you personally. I own several properties here. Just for the record, I do not sell property myself, I have 350 sales people to do that. But, for whatever it is worth, I'm happy to speak with you. Besides, I always love speaking with another Ferrari fanatic! The number listed is my private line. You may get a voice mail so just leave a message and I will call you back.
     

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