[quote=sdcellar]Are you guys serious about seeking investment properties? (I’m genuinely curious.)
Oh, and sorry, TV doesn’t count. I’m just interested in who thinks investment in San Diego real estate at this moment in time is a good idea. Seems like you’d _really_ need to know what you were doing…[/quote]
I’ve been looking at multi-family units… so far only 2 listings have penciled out – both were short sales – and there were SWARMS of potential buyers when we went to look at them. It was like a freeway of traffic of people going to look at them. We overheard conversations about how much above list to offer… We didn’t think we’d survive the bidding war with a price that cash-flowed -so we backed off.
So, I’d consider myself in the camp of interested in investment property, actively looking, but not buying at current prices.
There are a lot of knife catchers out there. I’ve been AMAZED at how high some of these places go for given the rents. I don’t know what people are thinking.
