[quote=ctr70]Yes Riverside or San Bernardino County for $100k house $1,200 in rent. Also Lancaster/Palmdale for those numbers or better. I know of a lot of long term pros in Riverside & SB County in the buy & hold rental business and those are the numbers they have been getting. Not sure if they still are now. I personally don’t really want to buy up there though b/c it is too far.
91910 is a C+/B- neighborhood IMO, I don’t know all of it, maybe parts of it are B if you were generous. “A” neighborhoods are places like Carmel Valley, Encinitas, Rancho Bernardo, La Jolla, Point Loma, Del Mar, etc… “B” neighborhoods are San Carlos, Clairemont, Mira Mesa, etc.. “C” neighborhoods (and below.. and there is a wide variance from C- to C+) are places like El Cajon, Lemon Grove, Spring Valley, Vista, most of O-side, Escondido). Of course there are parts of places like El Cajon, etc.. in the hiils that are more “B”.
Bearishgirl has never owned a condo but seems to know they all have special assessments and plumbing problems:) I have looked at, talked to and reviewed hoas of dozens and dozens recently and many have not not had special assessments in decades or had very minor ones. But I’m sure there are some bad ones out there. And it is not like you never have your own little “special assessment” on a SFR when the roof leaks or something else breaks. SFR’s are definitely preferable over condos when all else is equal, but all else is not equal in SD County. But I think if you can find the right SFR that works and you have all the cash to put down and fix it, you should definatly go for it over a condo.
Just curious for other experienced investors who are IN the market right now chime in what they think of a $265k 91910 house as a excellent buy and hold investment? Kingside? Ren? Sdrealtor?
I DO think 91910 is a strong rental area, I just think the prices are a bit high for a decent ROI. I don’t know what is on the market right now, but it might be a stretch to get a 3/2/2 1500+ sf SFR on a +/- 7500 sf lot for $265k right now in a good area on nice street that would pull $1,850. I would have to check Craigslist too to see what types of properties are renting for $1,850 and if they are the types of properties that could be had for $265k.
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Thanks for chiming in Ctr70. I feel like you could probably get the home above for around 220k in Escondido and it might not rent for 1850, but close to it if I’m not mistaken. Is there a reason that 91910 is that much better? Just curious your take because I’m not familiar with that area. Thanks again for you sharing your insight.
