[quote=spdrun]Not looking for 50% off beachfront, just looking for decent deals in the neighborhood of 7% cap. Basically, so it makes money rather than breaking even or being a financial drag in the short term.
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Inside joke…Sorry, you haven’t been long enough here to understand. Anyway, some folks here thought they were waiting for 50% off of La Jolla.
And yes, what you’re looking for is probably no different than I would say the majority of the people that are here who don’t like looking at the 1.0% or so CD rate.
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As far as bulk sales, they’re a possibility, but they’re moving forward cautiously and there’s also legislation pending in the CA State Assembly to prohibit them.
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Rules are meant to be broken, especially in california.
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Areas: I’ve identified at least one area. I was asking for opinions of that area, and other interesting areas. I have friends in the SD area, have done quite a bit of research, and have spoken to some trustworthy brokers. As well as pulling comps on rents. If you can’t answer w/o being snide, don’t bother at all.
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Great, got a specific property in mind?
Lessons on getting advice on piggington. (1) Opinions are a dime of a dozen. (2) There is a concept of LETDLITA, and if you don’t know what that is, do a search on it here and read about what it means, again for your benefit…I’m just making a mockery of this, because you know it’s boring here sometimes, since we’re all waiting for the killer deals…(3) “Advice” here is a lot like a relationship…You get it all, good and ugly, or nothing at all. Seriously, a lot of the questions you ask the same questions have been asked here already, and what you are probably looking for is already archived. Not that there’s anything wrong with asking again about what we feel are good investment areas. Just, you’re not going to get a good answer because of (1) and (2) above.
Also, it’s probably going to be difficult to get an opinion on a blanket questionon feasibility of a rental in area X, unless you got a specific property in mind or at least a specific complex in mind, in which case, some people here could probably chime in and tell you based on where they live and/or there experiences. Even in a given area, you can have a huge price difference simply because.. For example, in one area in 92130, people wonder why certain homes are commanding prices close to peak prices like in ’05/’06 (cough Saratoga and Derby Hills), and the answer is because for whatever reason a lot of people value those homes being close to Sage Canyon and Ocean Air, and more likely a lot of these people are hell of a lot lucky bastards that cashed out on stock options.
Or for that matter, if you asked “Is paying $600k for a 3/3 in Crest a good deal?”, I would tell you hell no, because current price in that community for 3/3 is closer to $500k because $600k is closer to peek price in ’04/’05.
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Listingbook.com: thanks.
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Welcome.
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Self-representation: that’s sort of bizarre and annoying. Where I live, it’s typical to call up a broker or go to an open-house, view the property, and drop an offer via a one-liner e-mail or even verbally. Assuming a non-distressed sale, broker asks seller, broker gets back with a response or counter within a few days. Easy and oddly painless.[/quote]
Well, I could be wrong, but I don’t think you will get very far trying to represent yourself unless you also happen to have a license.
BTW: there are also 3 realtors that periodically posts on this board.
sdrealtor, SD Realtor, and urbanrealtor…Occasionally if you ask for an opinion, they’ll give it to you.
