It depends on what you mean by make money. IF you are really a buy and hold investor you might follow the lead of a friend of mine who has recently picked up places in bakersfield and Indio. It’s small tiem but my friend ahs made a nice portfolio of rentals over the last 20 years.You owe me because I am going to get snickered off the blog for that.
He purchased a duplex in Bakersfield and added a bedroom and bath to one unit and is now several hundred cash positive,less opportunity cost. I throw the opportunity cost in because it seems like everyone else here demands it. Since it is a very long term investment, with most the rewards, historically coming in the latter years,I don’t worry about an opportunity cost if it cash flows well.
Recently he bought a 3-2 in Indio for 175k 20% down. He can rent it for $1500. You can do the math. He thinks he can flip it but isn’t counting on it. I have my doubts on the flip but I know he can handle the rental.
There is one property in San Diego county that I would pitch to anyone interested in a splittable rural lot.Because I would buy it if I didn’t have other plans,well, and if I could handle the cash flow to develope it. I think it is necessary to think long term and gamble on rational market theories to make the connection to the profitability potential. Give me a buyer’s brokers contract and I will show it to you.Actually it just went off the market but give me the contract and I’ll contact the owners who would probably still sell if you want it. I want to make sure you have straitened up your act before I am too nice to you. You wouldn’t want me to represent us piggs as some kind of a doormat would you?
