sdsurfer, I’m not sdr and am not familiar with North County on a street by street basis. You are on the right track wanting to invest in SFR’s as opposed to condos/PUD’s (with the HOA encumbrance).
If I was going to buy investment properties in the two locales you are proposing here, I would either by one or two larger houses that needed cosmetic work in Esco or one med-smaller house in a coastal area that needed cosmetic or even substantial work and fix up/repair the properties before renting them out.
$380K is a LOT to pay for a rental property given the (possible) vacancy factor of 2-6 weeks per year (in a coastal area). Putting 20% down, you would have to fetch $2200 – $2500 mo rent and manage yourself to make it worth your while (break even or a little extra for “slush fund”). I think it would be hard to do this consistently unless your property was at least 1500 sf with a garage, preferably a two-car garage and walking or biking distance to the beach.
Are any other Piggs more familiar with NCC rental income on a $380K house??
