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  • January 31, 2010 at 10:40 AM #16976
    profhoff
    Participant

    I’m considering buying a small 2/2 condo in the UTC/UCSD area and renting it out to a grad student. Are there complexes that represent good investments in the $200k-$300k range? Some of these buildings look pretty dumpy, but I would have a guaranteed tenant, so a lot of the risk is gone.

    However, it’s hard to know which complexes represent good deals and which are just going to give me headaches. I don’t want a crappy conversion and the building needs to have guaranteed parking for 2 cars and a laundry in the unit or in the garage (if there is one).

    Is that possible at my price point? Any pointers or recos?

    Thanks!

    January 31, 2010 at 3:55 PM #507504
    jpinpb
    Participant

    Well, you probably know about these condo conversions and they have been reduced significantly, almost to the point of making sense. But they don’t have garages. I think they are very good locations, especially for students.

    Vicenza This has had a class action lawsuit regarding square footage.

    Verano
    Venetian

    This complex has garages. They have had plumbing issues, though. Further from UCSD, but near the canyon:
    Lucera

    As far as other condos in the area, many are older, not updated and conditions are not the best. Those w/garages usually want way more than those w/out and very difficult to find in your price point range. If the government ever eases up on the real estate golden child support, prices may come down some more and you could see places w/garages in the price range you seek, but who knows when or if that’ll happen.

    January 31, 2010 at 3:55 PM #508062
    jpinpb
    Participant

    Well, you probably know about these condo conversions and they have been reduced significantly, almost to the point of making sense. But they don’t have garages. I think they are very good locations, especially for students.

    Vicenza This has had a class action lawsuit regarding square footage.

    Verano
    Venetian

    This complex has garages. They have had plumbing issues, though. Further from UCSD, but near the canyon:
    Lucera

    As far as other condos in the area, many are older, not updated and conditions are not the best. Those w/garages usually want way more than those w/out and very difficult to find in your price point range. If the government ever eases up on the real estate golden child support, prices may come down some more and you could see places w/garages in the price range you seek, but who knows when or if that’ll happen.

    January 31, 2010 at 3:55 PM #508156
    jpinpb
    Participant

    Well, you probably know about these condo conversions and they have been reduced significantly, almost to the point of making sense. But they don’t have garages. I think they are very good locations, especially for students.

    Vicenza This has had a class action lawsuit regarding square footage.

    Verano
    Venetian

    This complex has garages. They have had plumbing issues, though. Further from UCSD, but near the canyon:
    Lucera

    As far as other condos in the area, many are older, not updated and conditions are not the best. Those w/garages usually want way more than those w/out and very difficult to find in your price point range. If the government ever eases up on the real estate golden child support, prices may come down some more and you could see places w/garages in the price range you seek, but who knows when or if that’ll happen.

    January 31, 2010 at 3:55 PM #508410
    jpinpb
    Participant

    Well, you probably know about these condo conversions and they have been reduced significantly, almost to the point of making sense. But they don’t have garages. I think they are very good locations, especially for students.

    Vicenza This has had a class action lawsuit regarding square footage.

    Verano
    Venetian

    This complex has garages. They have had plumbing issues, though. Further from UCSD, but near the canyon:
    Lucera

    As far as other condos in the area, many are older, not updated and conditions are not the best. Those w/garages usually want way more than those w/out and very difficult to find in your price point range. If the government ever eases up on the real estate golden child support, prices may come down some more and you could see places w/garages in the price range you seek, but who knows when or if that’ll happen.

    January 31, 2010 at 3:55 PM #507651
    jpinpb
    Participant

    Well, you probably know about these condo conversions and they have been reduced significantly, almost to the point of making sense. But they don’t have garages. I think they are very good locations, especially for students.

    Vicenza This has had a class action lawsuit regarding square footage.

    Verano
    Venetian

    This complex has garages. They have had plumbing issues, though. Further from UCSD, but near the canyon:
    Lucera

    As far as other condos in the area, many are older, not updated and conditions are not the best. Those w/garages usually want way more than those w/out and very difficult to find in your price point range. If the government ever eases up on the real estate golden child support, prices may come down some more and you could see places w/garages in the price range you seek, but who knows when or if that’ll happen.

    January 31, 2010 at 5:21 PM #507656
    profhoff
    Participant

    Thanks, yeah, I’ve followed the links on the lawsuits. I think a carport would work if there were two spots. An undergraduate student complex isn’t ideal because of the noise. My guaranteed renter is a studious science grad student.

    I found some that looked interesting (e.g. Regents) but the reviews were terrible. Another one looked nice – La Jolla City Club and Capri (Renaissance) looks nice too. But that is too expensive.

    I’m getting worried that prices are going to start stabilizing. I’ve noticed in some listings that are still for sale that price changes are going up. Wrong direction.

    January 31, 2010 at 5:21 PM #508415
    profhoff
    Participant

    Thanks, yeah, I’ve followed the links on the lawsuits. I think a carport would work if there were two spots. An undergraduate student complex isn’t ideal because of the noise. My guaranteed renter is a studious science grad student.

    I found some that looked interesting (e.g. Regents) but the reviews were terrible. Another one looked nice – La Jolla City Club and Capri (Renaissance) looks nice too. But that is too expensive.

    I’m getting worried that prices are going to start stabilizing. I’ve noticed in some listings that are still for sale that price changes are going up. Wrong direction.

    January 31, 2010 at 5:21 PM #508161
    profhoff
    Participant

    Thanks, yeah, I’ve followed the links on the lawsuits. I think a carport would work if there were two spots. An undergraduate student complex isn’t ideal because of the noise. My guaranteed renter is a studious science grad student.

    I found some that looked interesting (e.g. Regents) but the reviews were terrible. Another one looked nice – La Jolla City Club and Capri (Renaissance) looks nice too. But that is too expensive.

    I’m getting worried that prices are going to start stabilizing. I’ve noticed in some listings that are still for sale that price changes are going up. Wrong direction.

    January 31, 2010 at 5:21 PM #507509
    profhoff
    Participant

    Thanks, yeah, I’ve followed the links on the lawsuits. I think a carport would work if there were two spots. An undergraduate student complex isn’t ideal because of the noise. My guaranteed renter is a studious science grad student.

    I found some that looked interesting (e.g. Regents) but the reviews were terrible. Another one looked nice – La Jolla City Club and Capri (Renaissance) looks nice too. But that is too expensive.

    I’m getting worried that prices are going to start stabilizing. I’ve noticed in some listings that are still for sale that price changes are going up. Wrong direction.

    January 31, 2010 at 5:21 PM #508067
    profhoff
    Participant

    Thanks, yeah, I’ve followed the links on the lawsuits. I think a carport would work if there were two spots. An undergraduate student complex isn’t ideal because of the noise. My guaranteed renter is a studious science grad student.

    I found some that looked interesting (e.g. Regents) but the reviews were terrible. Another one looked nice – La Jolla City Club and Capri (Renaissance) looks nice too. But that is too expensive.

    I’m getting worried that prices are going to start stabilizing. I’ve noticed in some listings that are still for sale that price changes are going up. Wrong direction.

    January 31, 2010 at 6:49 PM #508426
    Hitler
    Participant

    Definitely beware those condo conversions. Several units in Verano have flooded over the past couple of months with the recent heavy rains.

    January 31, 2010 at 6:49 PM #507666
    Hitler
    Participant

    Definitely beware those condo conversions. Several units in Verano have flooded over the past couple of months with the recent heavy rains.

    January 31, 2010 at 6:49 PM #508171
    Hitler
    Participant

    Definitely beware those condo conversions. Several units in Verano have flooded over the past couple of months with the recent heavy rains.

    January 31, 2010 at 6:49 PM #507519
    Hitler
    Participant

    Definitely beware those condo conversions. Several units in Verano have flooded over the past couple of months with the recent heavy rains.

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