Investment property…Coastal vs. Escondido

[bearishgurl]

sdsurfer, I’m not sdr and am not familiar with North County on a street by street basis. You are on the right track wanting to invest in SFR’s as opposed to condos/PUD’s (with the HOA encumbrance).

If I was going to buy investment properties in the two locales you are proposing here, I would either by one or two larger houses that needed cosmetic work in Esco or one med-smaller house in a coastal area that needed cosmetic or even substantial work and fix up/repair the properties before renting them out.

$380K is a LOT to pay for a rental property given the (possible) vacancy factor of 2-6 weeks per year (in a coastal area). Putting 20% down, you would have to fetch $2200 – $2500 mo rent and manage yourself to make it worth your while (break even or a little extra for “slush fund”). I think it would be hard to do this consistently unless your property was at least 1500 sf with a garage, preferably a two-car garage and walking or biking distance to the beach.

Are any other Piggs more familiar with NCC rental income on a $380K house??

[sdrealtor]

Personally I have bought and am looking to buy lower end but nice small condos in stable well maintained complexes with relatively low HOA fees and self manage them for optimal cash flow. Not really concerned about appreciation at this time. I bought one all cash last year and its worked so far as I made a 10%+ return after all expenses. I dont know anyone making close to that on SFR’s in SD County.

[sdrealtor]

Personally I have bought and am looking to buy lower end but nice small condos in stable well maintained complexes with relatively low HOA fees and self manage them for optimal cash flow. Not really concerned about appreciation at this time. I bought one all cash last year and its worked so far as I made a 10%+ return after all expenses. I dont know anyone making close to that on SFR’s in SD County.

[sdrealtor]

Personally I have bought and am looking to buy lower end but nice small condos in stable well maintained complexes with relatively low HOA fees and self manage them for optimal cash flow. Not really concerned about appreciation at this time. I bought one all cash last year and its worked so far as I made a 10%+ return after all expenses. I dont know anyone making close to that on SFR’s in SD County.

[sdrealtor]

Personally I have bought and am looking to buy lower end but nice small condos in stable well maintained complexes with relatively low HOA fees and self manage them for optimal cash flow. Not really concerned about appreciation at this time. I bought one all cash last year and its worked so far as I made a 10%+ return after all expenses. I dont know anyone making close to that on SFR’s in SD County.

[sdrealtor]

Personally I have bought and am looking to buy lower end but nice small condos in stable well maintained complexes with relatively low HOA fees and self manage them for optimal cash flow. Not really concerned about appreciation at this time. I bought one all cash last year and its worked so far as I made a 10%+ return after all expenses. I dont know anyone making close to that on SFR’s in SD County.

[ljinvestor]

Since this is your first one I would recommend purchasing closer to home. Also, be patient and wait for a great deal. Don’t go in thinking that the place is you buy is going to go down the next few years. Find a deal that is 20% lower than comps now so you have some safety net.

[ljinvestor]

Since this is your first one I would recommend purchasing closer to home. Also, be patient and wait for a great deal. Don’t go in thinking that the place is you buy is going to go down the next few years. Find a deal that is 20% lower than comps now so you have some safety net.

[ljinvestor]

Since this is your first one I would recommend purchasing closer to home. Also, be patient and wait for a great deal. Don’t go in thinking that the place is you buy is going to go down the next few years. Find a deal that is 20% lower than comps now so you have some safety net.

[ljinvestor]

Since this is your first one I would recommend purchasing closer to home. Also, be patient and wait for a great deal. Don’t go in thinking that the place is you buy is going to go down the next few years. Find a deal that is 20% lower than comps now so you have some safety net.

[ljinvestor]

Since this is your first one I would recommend purchasing closer to home. Also, be patient and wait for a great deal. Don’t go in thinking that the place is you buy is going to go down the next few years. Find a deal that is 20% lower than comps now so you have some safety net.

[bearishgurl]

[quote=ljinvestor]Since this is your first one I would recommend purchasing closer to home. Also, be patient and wait for a great deal. Don’t go in thinking that the place is you buy is going to go down the next few years. Find a deal that is 20% lower than comps now so you have some safety net.[/quote]

Good advice, ljinvestor. I kind of like the idea of having rental properties within five minutes of where one lives … even walking distance.

Patience, negotiation and fix-up know-how will get you a good rental investment in today’s market.

[bearishgurl]

[quote=ljinvestor]Since this is your first one I would recommend purchasing closer to home. Also, be patient and wait for a great deal. Don’t go in thinking that the place is you buy is going to go down the next few years. Find a deal that is 20% lower than comps now so you have some safety net.[/quote]

Good advice, ljinvestor. I kind of like the idea of having rental properties within five minutes of where one lives … even walking distance.

Patience, negotiation and fix-up know-how will get you a good rental investment in today’s market.

[bearishgurl]

[quote=ljinvestor]Since this is your first one I would recommend purchasing closer to home. Also, be patient and wait for a great deal. Don’t go in thinking that the place is you buy is going to go down the next few years. Find a deal that is 20% lower than comps now so you have some safety net.[/quote]

Good advice, ljinvestor. I kind of like the idea of having rental properties within five minutes of where one lives … even walking distance.

Patience, negotiation and fix-up know-how will get you a good rental investment in today’s market.

[bearishgurl]

[quote=ljinvestor]Since this is your first one I would recommend purchasing closer to home. Also, be patient and wait for a great deal. Don’t go in thinking that the place is you buy is going to go down the next few years. Find a deal that is 20% lower than comps now so you have some safety net.[/quote]

Good advice, ljinvestor. I kind of like the idea of having rental properties within five minutes of where one lives … even walking distance.

Patience, negotiation and fix-up know-how will get you a good rental investment in today’s market.

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