Investment property…Coastal vs. Escondido

[CA renter]

[quote=jstoesz][quote=CA renter][quote=jstoesz]Can I just restate what has been said numerous times on here…

BG, you need to try living in some other place than s. county san diego. It really is a hole, despite all your protesting. Move to Portland or Denver or Minneapolis or eastern Sac! (yes yes I know my bias is showing) You will see that life is so much cleaner and safer for the money.[/quote]

So, how are you liking the Sacramento area so far? Any temptation to move back, or totally laughing about the fact that you ever wanted to live in SD in the first place?[/quote]

CAR, thank you for asking. But with everything in life, its complicated.

We freaking love it. We live on 15 acres in a single family residence and I pay 1100 per month in rent. We skied powder 30+ days last winter, and we are currently going to the mountains every weekend. We went to courtright res last weekend. That place is amazing, has anyone been there there? I think it is a new favorite of mine. We would live here forever if there was family here.

But alas, the discussion of where we are going to buy and put down roots is a daily back and forth.

With family the main driving force, we are either going to move back to SD or minneapolis. My wife’s family lives in irvine, but we will be damned if we move to that development hell hole, so the sailing life in point loma still has serious draw and it is close enough. I guess we have to decide if we want to be a single income family, or dual…

But today at least, MN is winning the fight. Tomorrow is a different story though:)

I do love SD, for no other reason than its quality of recreation beating at the doorstep. THe sailing is suburb, and the surfing would be if it wasn’t so crowded. There is always ralphs when you are sick of the crowds.[/quote]

Glad to hear you are enjoying it so far, but bummed to hear that you still haven’t found your final home. IIRC, you’ve mentioned the desire to be near family because of kids (?),which is certainly a very good reason to want to be near family. Has your wife ever lived in MN? It’s a pretty big leap from CA to MN, especially if you are into year-long, outdoor activities. Are you moving there vs. SD because of the cost of living?

Even though I’ve lived in CA all my life, and have spent many, many vacations in the Sierras (family actually owned land there), I’ve never heard of Courtright Reservoir. Had to look it up — looks like you have to drive some crazy, winding roads in order to get there, but the pics I saw were spectacular!

Hope that your search ends soon, and that you will finally be able to put down some roots. Sounds like you’re making the most of whatever you do and wherever you live, which is awesome — enjoy! 🙂

[jstoesz]

Thanks Car. Yeah, I would highly recommend Courtright btw. To take this topic way off the rails, it is like toulumne meadows without the people and the rules. But it is a long ways back there with some pretty windy roads. Not as bad as mineral king though.

One other fun fact is that the Courtright Wishon reservoir system acts like a giant natural rechargeable battery. Courtright is 750 ft or so higher and so during the day they release water from the lake to turn turbines emptying the water into wishon. Then at night when electicity isn’t needed, they pump the water back up to courtright from wishon. Crazy!

[jstoesz]

Thanks Car. Yeah, I would highly recommend Courtright btw. To take this topic way off the rails, it is like toulumne meadows without the people and the rules. But it is a long ways back there with some pretty windy roads. Not as bad as mineral king though.

One other fun fact is that the Courtright Wishon reservoir system acts like a giant natural rechargeable battery. Courtright is 750 ft or so higher and so during the day they release water from the lake to turn turbines emptying the water into wishon. Then at night when electicity isn’t needed, they pump the water back up to courtright from wishon. Crazy!

[jstoesz]

Thanks Car. Yeah, I would highly recommend Courtright btw. To take this topic way off the rails, it is like toulumne meadows without the people and the rules. But it is a long ways back there with some pretty windy roads. Not as bad as mineral king though.

One other fun fact is that the Courtright Wishon reservoir system acts like a giant natural rechargeable battery. Courtright is 750 ft or so higher and so during the day they release water from the lake to turn turbines emptying the water into wishon. Then at night when electicity isn’t needed, they pump the water back up to courtright from wishon. Crazy!

[jstoesz]

Thanks Car. Yeah, I would highly recommend Courtright btw. To take this topic way off the rails, it is like toulumne meadows without the people and the rules. But it is a long ways back there with some pretty windy roads. Not as bad as mineral king though.

One other fun fact is that the Courtright Wishon reservoir system acts like a giant natural rechargeable battery. Courtright is 750 ft or so higher and so during the day they release water from the lake to turn turbines emptying the water into wishon. Then at night when electicity isn’t needed, they pump the water back up to courtright from wishon. Crazy!

[jstoesz]

Thanks Car. Yeah, I would highly recommend Courtright btw. To take this topic way off the rails, it is like toulumne meadows without the people and the rules. But it is a long ways back there with some pretty windy roads. Not as bad as mineral king though.

One other fun fact is that the Courtright Wishon reservoir system acts like a giant natural rechargeable battery. Courtright is 750 ft or so higher and so during the day they release water from the lake to turn turbines emptying the water into wishon. Then at night when electicity isn’t needed, they pump the water back up to courtright from wishon. Crazy!

[jstoesz]

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[sdsurfer]

[quote=ctr70]I also think it is a myth that the average retail buyer can waltz out there and buy something 20% below market off the MLS with his Realtor. From what I see in the market, there are really only 2 sources of true under market deals: 1. Trustee sale auctions (all cash), 2. Major fixer disasters that mostly the flippers buy with hard money or cash.

Most retail MLS buyers getting mortgages to buy even if they spend a ton of time looking and make a lot of offers will likely pay 95% or more of market. A big mistake many make is buying a “fixer upper” that needs $30k in fix for only $30k less than the similar fixed up house, thinking they are getting a deal. Why not just buy the clean one and save yourself all the work! And finance the costs of fix up done by someone else at 4% for 30 years vs. paying it out of your pocket. Now if you get it $60k under market and it needs $20k fix, that is getting better.

Berishgirl, thanks for the info on your rental across the vacant lot. That is a good warning, you can’t be too careful with location. But I still do not see the logic and where the ROI is on a $265k 70 year old house that gets $1,600 in rent:) Break that out for me. Now a $100k house that gets $1,250 in rent, that is more like it.[/quote]
Do you mind sharing where the 100k house that gets $1250/month might be? Riverside? Thanks.

[sdsurfer]

[quote=ctr70]I also think it is a myth that the average retail buyer can waltz out there and buy something 20% below market off the MLS with his Realtor. From what I see in the market, there are really only 2 sources of true under market deals: 1. Trustee sale auctions (all cash), 2. Major fixer disasters that mostly the flippers buy with hard money or cash.

Most retail MLS buyers getting mortgages to buy even if they spend a ton of time looking and make a lot of offers will likely pay 95% or more of market. A big mistake many make is buying a “fixer upper” that needs $30k in fix for only $30k less than the similar fixed up house, thinking they are getting a deal. Why not just buy the clean one and save yourself all the work! And finance the costs of fix up done by someone else at 4% for 30 years vs. paying it out of your pocket. Now if you get it $60k under market and it needs $20k fix, that is getting better.

Berishgirl, thanks for the info on your rental across the vacant lot. That is a good warning, you can’t be too careful with location. But I still do not see the logic and where the ROI is on a $265k 70 year old house that gets $1,600 in rent:) Break that out for me. Now a $100k house that gets $1,250 in rent, that is more like it.[/quote]
Do you mind sharing where the 100k house that gets $1250/month might be? Riverside? Thanks.

[sdsurfer]

[quote=ctr70]I also think it is a myth that the average retail buyer can waltz out there and buy something 20% below market off the MLS with his Realtor. From what I see in the market, there are really only 2 sources of true under market deals: 1. Trustee sale auctions (all cash), 2. Major fixer disasters that mostly the flippers buy with hard money or cash.

Most retail MLS buyers getting mortgages to buy even if they spend a ton of time looking and make a lot of offers will likely pay 95% or more of market. A big mistake many make is buying a “fixer upper” that needs $30k in fix for only $30k less than the similar fixed up house, thinking they are getting a deal. Why not just buy the clean one and save yourself all the work! And finance the costs of fix up done by someone else at 4% for 30 years vs. paying it out of your pocket. Now if you get it $60k under market and it needs $20k fix, that is getting better.

Berishgirl, thanks for the info on your rental across the vacant lot. That is a good warning, you can’t be too careful with location. But I still do not see the logic and where the ROI is on a $265k 70 year old house that gets $1,600 in rent:) Break that out for me. Now a $100k house that gets $1,250 in rent, that is more like it.[/quote]
Do you mind sharing where the 100k house that gets $1250/month might be? Riverside? Thanks.

[sdsurfer]

[quote=ctr70]I also think it is a myth that the average retail buyer can waltz out there and buy something 20% below market off the MLS with his Realtor. From what I see in the market, there are really only 2 sources of true under market deals: 1. Trustee sale auctions (all cash), 2. Major fixer disasters that mostly the flippers buy with hard money or cash.

Most retail MLS buyers getting mortgages to buy even if they spend a ton of time looking and make a lot of offers will likely pay 95% or more of market. A big mistake many make is buying a “fixer upper” that needs $30k in fix for only $30k less than the similar fixed up house, thinking they are getting a deal. Why not just buy the clean one and save yourself all the work! And finance the costs of fix up done by someone else at 4% for 30 years vs. paying it out of your pocket. Now if you get it $60k under market and it needs $20k fix, that is getting better.

Berishgirl, thanks for the info on your rental across the vacant lot. That is a good warning, you can’t be too careful with location. But I still do not see the logic and where the ROI is on a $265k 70 year old house that gets $1,600 in rent:) Break that out for me. Now a $100k house that gets $1,250 in rent, that is more like it.[/quote]
Do you mind sharing where the 100k house that gets $1250/month might be? Riverside? Thanks.

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