[quote=FlyerInHi]I don’t know PQ as well, but I did some research. Most the Section 8 renters in PQ are in city owned complexes. They don’t live in the condo complexes where the rents are higher.
On the demographics, I will answer the question.
I don’t now about intelligence, but for qualification purposes, I would rather have employment verification from UCSD, Qualcomm, Motorola, Lumina, Genprobe, etc… I don’t really trust income verification from the bar in hillcrest, or the hair shop in Chula Vista. I don’t want to talk to someone’s boss or manager either because they could be in it together. I prefer an official verification from HR.
I also prefer that they drive new cars and don’t have furniture to move from storage or another rental.
On size, 1200sf is 1200sf. Some of the links you posted were about that size, no?
It’s not whack to pay $1800 if you work less than 15 minutes away.
Again, I’m waiting for links in the city of San Diego for $350k, not Chula Vista and not in El Cajon, please. What are the choices?[/quote]
My point was, FIH, that you think, as a LL, you can’t get employment verification from “HR” except for properties in your one or two desired rental zip codes. By this statement, you are in essence stating that NP tenant-applicants or ChulaV applicants or wherever else you feel is “inferior” to those close-in zips to tech centers don’t have “proper” employment verification. I don’t buy it because PLENTY of tenants (yes, even in the lowest-income zip codes in SD) have employment verification from HR available to a prospective LL. And, FWIW, there are likely plenty of “hairdressers” renting (and owning) in MM.
It seems every time a new poster comes on here and asks about investment property, they are “steered” to invest in a condo in the MM area (even if they were shopping far away from there, as this poster was).
I kept the subject SFRs because that is what the OP stated she was shopping for. I’m pretty sure she’s aware that condos exist in SD.
And why would any tenant want to pay $1800 to $2000 mo for rent if they didn’t have anything to move into the place? Why wouldn’t a tenant like that rent a furnished room in a private home, instead. It doesn’t make sense.
I haven’t looked around in 92115 yet and I only looked at SFRs in 92104/92116, found some, but was not happy with the sf of the dwelling or lot for the asking price. Yes, some “starter homes” are the same size as condos inside BUT have the privacy of a home, off-st parking for up to six cars AND possible garage. You can’t change the fact that a condo owner (not PUD) only owns airspace. And a “fractional interest” at that. They basically just own the right to control a particular unit … but only to the extent allowed by the HOA.
You are suggesting apt-like condos as rental investments for this poster. SFRs (with front/backyard and poss garage) are completely different animals and thus start and end at a higher price point than condos in each area. Of course, if I changed my search parameters to condos, I could likely find a few everywhere that meet the OP’s criteria in almost all zip codes. I didn’t consider condos for her because of the HOA dues and possible special assessments. I don’t think paying dues every month is worth it for a small investment property if a prospective LL can get the same or nearly the same rent for the same purchase price without doing so. Yes, even for a free and clear property. It’s NOT WORTH IT for a LL TO PAY MO DUES if they don’t have to. The OP lives in metro SD, NOT MM and NOT out of county and so can manage a local SFR herself, after learning the ropes. It isn’t rocket science.
