[quote=sdrealtor]One question BG. You put so much credence into how communities have fared in downturns. Why do you so highly advocate buying investment properties in the portion of SD that has traditionally gotten hit hardest in each cycle?[/quote]
I haven’t advocated buying investment properties necessarily in communities that have been “hit hardest,” just in communities where the “numbers work” for an SFR monthly cash flow (putting 20-30% down). Communities which were ALREADY lower priced PRIOR to the recent “millenium boom/bust cycle” had less distance to fall DURING the cycle. Regardless of whether the prevailing mo rent is/was $1350, $1650 or $1850, they made sense to buy then and they make sense to buy now at a particular price point.
If tenants will pay your mortgage off for you over the years, why do you CARE so much how much the property actually appreciates?
Some of these Piggs here appear to have a “payment shopping mentality” instead of really looking at the underlying value of a property and the area it sits in, as well as what the immediate area has to offer.
Also, I think some might be wrapped up in “excessive sf” when they could easily live in a third of that amount and probably couldn’t afford to furnish 4000-5000 sf :={
Which do YOU think was the better buy here, sdr?? The property in SCP or the one in SB? Or if you’re not so familiar with these areas, how about an (expert) opinion from SDR?
SDR, if you’re around, which do YOU think was the better buy?
