Home › Forums › Financial Markets/Economics › Buying a small condo in UTC as an investment?
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kcal09.
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April 6, 2009 at 4:43 PM #377605April 6, 2009 at 5:07 PM #377004
Scarlett
ParticipantWell, it’s not really for me. My sister (lives in OC) was thinking to buy some condo close to where I live (that’s why UTC), so when our mom would be able to move here to have her own place for a few years instead of living with us. It will be my sister’s purchase as she already has a house and higher income than I – and I will contribute if my mom would live there. No, I won’t live there.
It is not a set decision, it was just a thought. No hurry at all. Long term investment. My mom may not be able to move here for quite a while, or maybe even not at all. However, since the condos here are close to bottom, we figured if the numbers are right, my sister should buy one and rent it in the meantime until my mother would come to San Diego.
[quote=flu]Scarlett,
Pardon me for asking, but I thought you were more set on buying a primary home first. Do you really want to juggle a rental in right now at the same time you’re considering a primary?
.[/quote]April 6, 2009 at 5:07 PM #377280ParticipantWell, it’s not really for me. My sister (lives in OC) was thinking to buy some condo close to where I live (that’s why UTC), so when our mom would be able to move here to have her own place for a few years instead of living with us. It will be my sister’s purchase as she already has a house and higher income than I – and I will contribute if my mom would live there. No, I won’t live there.
It is not a set decision, it was just a thought. No hurry at all. Long term investment. My mom may not be able to move here for quite a while, or maybe even not at all. However, since the condos here are close to bottom, we figured if the numbers are right, my sister should buy one and rent it in the meantime until my mother would come to San Diego.
[quote=flu]Scarlett,
Pardon me for asking, but I thought you were more set on buying a primary home first. Do you really want to juggle a rental in right now at the same time you’re considering a primary?
.[/quote]April 6, 2009 at 5:07 PM #377458ParticipantWell, it’s not really for me. My sister (lives in OC) was thinking to buy some condo close to where I live (that’s why UTC), so when our mom would be able to move here to have her own place for a few years instead of living with us. It will be my sister’s purchase as she already has a house and higher income than I – and I will contribute if my mom would live there. No, I won’t live there.
It is not a set decision, it was just a thought. No hurry at all. Long term investment. My mom may not be able to move here for quite a while, or maybe even not at all. However, since the condos here are close to bottom, we figured if the numbers are right, my sister should buy one and rent it in the meantime until my mother would come to San Diego.
[quote=flu]Scarlett,
Pardon me for asking, but I thought you were more set on buying a primary home first. Do you really want to juggle a rental in right now at the same time you’re considering a primary?
.[/quote]April 6, 2009 at 5:07 PM #377502ParticipantWell, it’s not really for me. My sister (lives in OC) was thinking to buy some condo close to where I live (that’s why UTC), so when our mom would be able to move here to have her own place for a few years instead of living with us. It will be my sister’s purchase as she already has a house and higher income than I – and I will contribute if my mom would live there. No, I won’t live there.
It is not a set decision, it was just a thought. No hurry at all. Long term investment. My mom may not be able to move here for quite a while, or maybe even not at all. However, since the condos here are close to bottom, we figured if the numbers are right, my sister should buy one and rent it in the meantime until my mother would come to San Diego.
[quote=flu]Scarlett,
Pardon me for asking, but I thought you were more set on buying a primary home first. Do you really want to juggle a rental in right now at the same time you’re considering a primary?
.[/quote]April 6, 2009 at 5:07 PM #377625ParticipantWell, it’s not really for me. My sister (lives in OC) was thinking to buy some condo close to where I live (that’s why UTC), so when our mom would be able to move here to have her own place for a few years instead of living with us. It will be my sister’s purchase as she already has a house and higher income than I – and I will contribute if my mom would live there. No, I won’t live there.
It is not a set decision, it was just a thought. No hurry at all. Long term investment. My mom may not be able to move here for quite a while, or maybe even not at all. However, since the condos here are close to bottom, we figured if the numbers are right, my sister should buy one and rent it in the meantime until my mother would come to San Diego.
[quote=flu]Scarlett,
Pardon me for asking, but I thought you were more set on buying a primary home first. Do you really want to juggle a rental in right now at the same time you’re considering a primary?
.[/quote]April 6, 2009 at 5:17 PM #377014Participant[quote=SD Realtor] Are you in for the long run or is it a short run deal? Are you going to live there for awhile, and then rent it in the future? .
(…)
Regarding UTC, I think there is still room for downward pressure in that entire area. True there is alot of demand there for a variety of reasons. There is a heck of alot of employment within 5 miles of the area as well so it is not just students. Still though, as far as investments go, to me it does not seem like the right play and needs more time to cook. [/quote]SD R, see my answer to FLU above. It’s complicated. So yea it would be a rental, but we’d compromise to get something that we’d be happy to have our mom in. It should still be cash flow positive of course in the time is rented to others. We won’t buy until next year and for long term. I happen to like and know UTC area, so does my mom. I live in UTC. My mom doesn’t drive so walking distance to grocery store is crucial. I am also keeping an eye on some small Carmel Valley condos like Carmel Pointe and Del Mar Villas that would fit the bill.
April 6, 2009 at 5:17 PM #377290Participant[quote=SD Realtor] Are you in for the long run or is it a short run deal? Are you going to live there for awhile, and then rent it in the future? .
(…)
Regarding UTC, I think there is still room for downward pressure in that entire area. True there is alot of demand there for a variety of reasons. There is a heck of alot of employment within 5 miles of the area as well so it is not just students. Still though, as far as investments go, to me it does not seem like the right play and needs more time to cook. [/quote]SD R, see my answer to FLU above. It’s complicated. So yea it would be a rental, but we’d compromise to get something that we’d be happy to have our mom in. It should still be cash flow positive of course in the time is rented to others. We won’t buy until next year and for long term. I happen to like and know UTC area, so does my mom. I live in UTC. My mom doesn’t drive so walking distance to grocery store is crucial. I am also keeping an eye on some small Carmel Valley condos like Carmel Pointe and Del Mar Villas that would fit the bill.
April 6, 2009 at 5:17 PM #377468Participant[quote=SD Realtor] Are you in for the long run or is it a short run deal? Are you going to live there for awhile, and then rent it in the future? .
(…)
Regarding UTC, I think there is still room for downward pressure in that entire area. True there is alot of demand there for a variety of reasons. There is a heck of alot of employment within 5 miles of the area as well so it is not just students. Still though, as far as investments go, to me it does not seem like the right play and needs more time to cook. [/quote]SD R, see my answer to FLU above. It’s complicated. So yea it would be a rental, but we’d compromise to get something that we’d be happy to have our mom in. It should still be cash flow positive of course in the time is rented to others. We won’t buy until next year and for long term. I happen to like and know UTC area, so does my mom. I live in UTC. My mom doesn’t drive so walking distance to grocery store is crucial. I am also keeping an eye on some small Carmel Valley condos like Carmel Pointe and Del Mar Villas that would fit the bill.
April 6, 2009 at 5:17 PM #377512Participant[quote=SD Realtor] Are you in for the long run or is it a short run deal? Are you going to live there for awhile, and then rent it in the future? .
(…)
Regarding UTC, I think there is still room for downward pressure in that entire area. True there is alot of demand there for a variety of reasons. There is a heck of alot of employment within 5 miles of the area as well so it is not just students. Still though, as far as investments go, to me it does not seem like the right play and needs more time to cook. [/quote]SD R, see my answer to FLU above. It’s complicated. So yea it would be a rental, but we’d compromise to get something that we’d be happy to have our mom in. It should still be cash flow positive of course in the time is rented to others. We won’t buy until next year and for long term. I happen to like and know UTC area, so does my mom. I live in UTC. My mom doesn’t drive so walking distance to grocery store is crucial. I am also keeping an eye on some small Carmel Valley condos like Carmel Pointe and Del Mar Villas that would fit the bill.
April 6, 2009 at 5:17 PM #377635Participant[quote=SD Realtor] Are you in for the long run or is it a short run deal? Are you going to live there for awhile, and then rent it in the future? .
(…)
Regarding UTC, I think there is still room for downward pressure in that entire area. True there is alot of demand there for a variety of reasons. There is a heck of alot of employment within 5 miles of the area as well so it is not just students. Still though, as far as investments go, to me it does not seem like the right play and needs more time to cook. [/quote]SD R, see my answer to FLU above. It’s complicated. So yea it would be a rental, but we’d compromise to get something that we’d be happy to have our mom in. It should still be cash flow positive of course in the time is rented to others. We won’t buy until next year and for long term. I happen to like and know UTC area, so does my mom. I live in UTC. My mom doesn’t drive so walking distance to grocery store is crucial. I am also keeping an eye on some small Carmel Valley condos like Carmel Pointe and Del Mar Villas that would fit the bill.
April 6, 2009 at 5:46 PM #377034jpinpb
ParticipantI’ve got some threads for Carmel Valley:
I didn’t do The Heights. There’s some pain there. If you don’t need a garage, there’s a lot of condo complexes in Carmel Valley showing some pain, mostly the conversions, but the disease is spreading.
April 6, 2009 at 5:46 PM #377310ParticipantI’ve got some threads for Carmel Valley:
I didn’t do The Heights. There’s some pain there. If you don’t need a garage, there’s a lot of condo complexes in Carmel Valley showing some pain, mostly the conversions, but the disease is spreading.
April 6, 2009 at 5:46 PM #377488ParticipantI’ve got some threads for Carmel Valley:
I didn’t do The Heights. There’s some pain there. If you don’t need a garage, there’s a lot of condo complexes in Carmel Valley showing some pain, mostly the conversions, but the disease is spreading.
April 6, 2009 at 5:46 PM #377532ParticipantI’ve got some threads for Carmel Valley:
I didn’t do The Heights. There’s some pain there. If you don’t need a garage, there’s a lot of condo complexes in Carmel Valley showing some pain, mostly the conversions, but the disease is spreading.
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