want a good deal – Those that are particularly astute rental property owners treat the investment very seriously and do much more then focus on the numbers. By that I mean they spend more time finding markets that are conducive for their investment to appreciate AND pencil out, they move in and out of those markets appropriately. These are people who bought in communities like Phoenix for instance several years ago and sold in 04, or bought in Austin in 02 and have recently sold. These are the same people who may have bought in places like North Carolina or Seattle in 04/05 and will be selling in the near future.
I am a landlord but these are properties I used to own and have never sold. I treat them like IRA’s as well and there are possibilities that relatives on either side of the family may use them in the future. They are both slightly negative cash flow wise but I am much more content with my steady tenants who care for the properties. I did purchase a condo in Mission Valley a few years back primarly as a rental but with a possibility of a relative moving in and that was recently sold.
I guess what I am saying is that if you really are considering purchasing a rental then you may want to consider finding more robust markets then San Diego, or buy a primary residence, live in it awhile and then move out and make it a rental.
