I have to admit that the low prices have gotten me to at least look around and yeah I could probably find a few good deals if I wanted to spend that much time on it. We’ve been so used to $300k condos that when it drops down to $100k a lot of us are thinking that it’s gotta make sense now!
Still, I have a hard time justifying purchasing properties here at a per unit cost of $100k when I can go get properties in other locations for $50k and less. Luckily I diversified into out-of-state properties awhile ago. Of course, there are frustrations and problems with that, but that’s another story…
Maybe when four units here in San Diego go cash flow that’s when I’ll start looking, but that’s probably got the furthest to fall. Until then I’m pretty much stuck looking at out-of-state properties.
