[quote=cv2]Ren, is this perceived “very cash-flow-positive” or truely great opportunity? I am wondering, does the local economy have enough support for the rentals?
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Good questions. I’m not jumping in, even though I’m seeing $500+/month positive cash flow in condos for a $40k investment (30% down). I just don’t think it’s a good idea to buy in spring whether the market is up or down (I don’t need the competition), I’m almost certain prices will not go up by this fall/winter, and I’m guessing prices have a little ways to go down (maybe 5-15% in Murrieta?).
I just have this little voice telling me that those $1,100 rents could be at $900 next year, so if I wait until winter and it knocks $10-$20k off the purchase price, it’s worth it. At least I know that I’m not making a bad decision by waiting.
