I’ve thought about that, OC Scam, but I am not familiar with the rental market. I’ve never owned my own condo or house, so I’d need to research the sh@t out of the purchase of a rental, and I can’t do my own home repairs. From comments experienced people have made here, it seems that rentals in OC (where I live) aren’t even close to generating cash.
One thing I’ve thought about is buying a small complex, for maybe $1 million or thereabouts. If I got 3-5 units, then I could live in one and rent the rest. If the initial cash flow were negative, but less than my current ($1425/mo) rent, I would be happy. Over time, as rents went up and my loan balance went down, I could look forward to more and more income from rent, while I lived there.
Do you think that prices of rental units will be going down much? Are they high now? Where do I learn that market?
