Looking for a fixer in Sacramento CA?

There are ton of investors out there currently looking for fixers right now.  I get hit up daily from buyers that are all cash looking for a good house to fix and flip in Sacramento.  We're seeing it become difficult with the low inventory and the margins are minimal.  Some investors are buying a paycheck.  They will make money on the deal but it's mostly from their labor that they are putting into the property.  I'm no stranger to doing home improvements and I know what things cost.  Everything from materials to labor has increased dramatically since Covid.  

I reciently went to look at a property in Sacramento that was inherited by my client and he wanted me to take a look at it to see what he should do.  It's a 2 bedroom 2 bath, 1400 sqft on 1/3 of an acre built in 1944.  It comps at $400,000; however, it's going to be well over $100,000 to rehab the property.  There's a ton of dry rot, electrical isn't grounded (2 prog), the kitchen and bathrooms need a full gut.  It can become a rabbit hole and end up costing $150,000.  For this to pencil, I would be comfortable around $225,000.  The crazy thing is, I could sell it today for $275,000 no problem.  My advise was to sell it "AS IS"!  Don't put money into it.  He's not a contractor and it makes more sense to walk away from it.  Take the money and run I said.  I also told him I wasn't interested in buying it as it needs too much work.

I have several fixers coming on the market soon.  2-3 houses in Sacramento, 2 in Roseville, 1 in Orangevale...  Many of the fixers I get are court ordered partition sales.  They are properties that are owned my multiple owners and one if forcing the sale.  These typically have differed maintenance.   As I'm a remax agent in Roseville, I'm also a court appointed referee on these properties.  I'm not allowed to represent the buyers in these transactions; however, I can put you in touch with a broker.