Good luck, flu … ESP in the price range you are looking in :)[/quote]
Don’t need it… If it’s not there it’s not there…
BTW: about your question…
Cost of 1/1 in MM would have been about the same as a cost of a 2/2 in 92115, give or take a few thousand. Rent in MM would be about $200/month less for a 1/1 than a 2/2 in 92115… For the -$200/month, your rental pool is more of a long term profession with a high(er) paying job with no incentive to really make it difficult to you since they are here for the long term and most likely won’t be switching companies for some time for a few significant reasons. You don’t need to worry about background checks/screening because their employer already did that..All you really need to do is collect rent, say hi to them every so often, and take care of any repairs….
In 92115, it will probably be slightly higher turnover, just due to the nature of the area being more fluid…It might be more competitive to rent the place out (slightly). The cashflow probably is better, at possibly the risk of higher turnover. That said it’s a decent area to rent at that price point….
This area has the same issue as MM in which a good portion of the properties that have this sort of opportunity are pretty much contigent..It’s no surprise because probably (not definitely, but probably) the same sort of people looking for MM opportunity were looking elsewhere too…
And as ER pointed out the value of upcoming “gentrification”, it’s pretty evident that is happening right now in MM, which is probably why there’s even more interest there…
