Bearishgurl…awesome posts! Thank you so much for taking the time to impart your wisdom this is tremendous!
Since I rent, what I’m thinking of doing is buying something owner occupied and living in it for a year or so to clean it up, and then go back to renting. b/c I likely don’t want to live in the area where the numbers would work on an SFR, and since I’m single and can rent a 1 bed for $900 and get as you say $1,400-$1,800 for my rental.
What neighborhoods would you favor to do this? Spring Valley? Chula Vista? Paradise Hills? City Heights? These places come to mind where SFR’s may be had for a price where I can say buy with 10% down, live for a year, and then move out and rent at break-even or small positive cf.
I’m heavily learning against condo’s b/c when those HOA’s go bad and they become “unfinanceable” it gets kind of scary. And lenders are brutal right now on condo financing. When only cash buyers can buy into a condo project, values can plummet. Too much out of your control.
I like your idea of vacation rentals. I love Lake Tahoe and have spent many vacations up there! What can you get a SFR in South Lake for right now? I know houses rent well for ski rentals for the full season. The demand in San Diego for vacation rentals is big in the summer, especially from everyone in Arizona and Las Vegas trying to escape the heat. Since I have a telecommuting job, I could buy a condo I live in for 9 mos and then sublet it furnished June, July and Aug & live up in a place like Tahoe or Aspen or Maine June-Aug!
