You know. I really don’t care which city/area pencils out. My only requirement is
1)There’s a lot of prospective high quality renters. Emphasis is on “high quality”. That ideally means folks who are W2 and work at a good company.
2)The place is relatively close to work or home (in case I need to go take care of things)
3)The place isn’t a complete dump (I don’t plan on living there anyway).
MM is ideal because it’s close to Sorrento Valley. Lot’s of people starting out in tech companies who can’t afford to purchase a home off the bat, but want to be close to work. A lot of bachelor (bachelorette) who don’t want roomates,etc…. That was why I was also looking in Rancho Bernardo, because of the companies out there on the 15 corridor too. When you have tech companies throwing $70-80k salaries to fresh masters student grads (which sorrento valley companies are), I’d consider that a pretty good rental pool quality.
I don’t know if Chula Vista would pencil out. It probably can.. I haven’t done my homework there, and I don’t care. Because it’s not practical for me to deal with tenants down there, from a time and money perspective. Escondido probably can pencil out too, but then again there’s the issue of quality of renters again. But anyway, BG if you have an experience renting out a condo down there and can show me (us), how things pencils out, that would be great for comparison purposes.
