SACRAMENTO (CBS13) – A former San Francisco 49ers player has a bold real estate plan, but will it bring down rents for families in the area?
Waypoint Homes was founded by former kicker Doug Brien. It has already bought, fixed and is renting out some homes and wants to do this with 1,000 homes here in the Sacramento area.
He’s a man known for using his foot, but now, the former NFL kicker is leaving a big footprint in Sacramento.
“Sacramento is a nearby market for us, so we know it pretty well,” said Brien.
Since 2009, Brien’s company, Waypoint Homes, has gobbled up fixer-uppers to rent out.
“They had like six or seven guys everyday out there, so they did pretty good work,” said Ed Saucido.
In one week, Saucido says Waypoint turned the eyesore of a home, into a remodeled home.
“If they do that to all the houses around here, it’s pretty good,” said Saucido.
In just three years, Brien and his partner have bought 2,200 homes in California and Arizona. Last month they bought 35 in Sacramento and plan to buy 1,000 more in the area.
“I think it’s a wonderful idea. I don’t think it’s probably going to be able to be put into practice,” said local realtor Elizabeth Weintraub.
Weintraub says Brien’s plan will be blocked by a shrinking inventory with only 1,700 homes currently on the market in Sacramento County.
“Hopefully they’ll stimulate the economy somewhat, but there’s just nothing for them to buy. It’s going to take them years,” said Weintraub.
One-thousand homes is a lofty goal, but it’s something the field goal kicker, who scored nearly 1,000 points in the NFL, says he can accomplish.
“Although Sacramento has its challenges, we still believe in the long term future and potential of California,” said Brien.
The other issue is that the homes are rentals. Brien said they actually have neighbors participate in the rental process to make sure they bring in the right people.