Need Investment property

[Mohammad]

Hi,I’m not a us citizen ,  I’m looking to purchase an investment property in San Diego in the range of between 225 – 250 k , full cash payment ,I would appreciate suggestions on neighborhoods with condos in my price range with high rental return and occupancy.
Any input would be great!

Appreciate all the help
Mohammad

[sdrealtor]

Where can I wire the transfer funds to your Nigerian bank account so you can get the money here?

[Mohammad]

Very funny … Are you a comedian ?

[Coronita]

Here’s an opportunity…

http://piggington.com/very_good_cash_flow_investment_opportunity

It’s from sdrealtor… Oh wait…..

[scaredyclassic]

Wait isn’t it mandatory that new posters be berated on the pros and cons for several months before receiving any recommendations?

[sdrealtor]

It is a bit of a tradition around around here.

[Hobie]

You just missed it. SkyRanch just sold out. It was just 10 min from the beach and was having a fire sale. Maybe there are some for sale now. It is in Santee if you Google it.

[ocrenter]

CV, aka Chula Vista, would be the way to go. You can get a panoramic view of TJ and you might just get a bonus private tunnel directly to TJ if you are lucky enough (note: tunnels typically not up to local code standards so you should not contact the city if found).

[NotCranky]

[quote=walterwhite]Wait isn’t it mandatory that new posters be berated on the pros and cons for several months before receiving any recommendations?[/quote]
Nobody’s case will be quite like yours was.

[outtamojo]

http://www.sdlookup.com/MLS-120012039-1251_Elfin_Forest_Rd_San_Marcos_CA_92078

Will rent in the $2k/month range.

[sdrealtor]

FYI MR and HOA on that are over 500 per month

[temeculaguy]

if you don’t mind it being just outside of sd county, buy two these, if you can get one thats not pending.

http://www.redfin.com/CA/Temecula/31218-Taylor-Ln-92592/unit-1218/home/8172093

an example for rent on craigslist

http://inlandempire.craigslist.org/apa/2900491751.html

another craigslist ad for the 1/2 of the property that isn’t individually owned but rented out as apartments

http://inlandempire.craigslist.org/apa/2900127194.html

they sell for 120k, rent for about 1200-1300, taxes are 100, hoa is 220. you should be able to yield bout 900 mo per unit, or 1800 for 240k. since you are not local, take off another 100 mo per unit for a management co., so you’d get a flow of 1600 for your 240k, about 8% return after expenses and their bubble price is double what you’d pay now and they are rising at about 10% a year, so it may end up being a 18% yield (this rise in price is during a great recession, a classic overshoot). Since they are the cheapest in the zip code and one of the few rentals near the largest casino in the state with thousands of rental demographic employees and only a few hundred rentals close enough to not require a freeway commute to get home for those employees, I see them in a perfect position to be solid rentals for years to come. The only problem is, investors have bought almost all of them, but there are still some, yet ignore those that are asking for 140+, those are kinda for the out of town suckers, which they do find.

There are two complexes, with stores and shops in between, 1/2 is owned individually and the other half is an apartment complex which chose to not sell once the market crashed but was supposed to be sold when it was being built and may end up selling at some point. he first complex sold between 250k and 300k, when the prices dropped to less than half that but rents stayed the same, they pulled them and made them apartments, it made more sense. At some point I see them selling them at a certain price threshold, as an individual investor, doing the same is probably a good strategy. The only problem is there are 3 current actives that aren’t shorts or pending, and over 100 have sold in the last 24 months in a complex of 220. All 3 of those for sale are overpriced by 20-25k, so this was good advice last year and the year before when I gave it, right now it might just be waving from the docks at a sailed ship. Then again, the numbers still beat almost anything in SD.

[outtamojo]

Will still yield about 7% and change. I’ve seen these rent for $2100/$2200/month tho- butt ugly floor plan and all. Personally would not use all cash unless I was able to weasel discount on selling price as 4% 30 year loans on investor properties are obtainable.

[Mohammad]

Let’s say I bought a condo for 250 k cash , 
what other expense, fees,etc.. I have to pay ? 
and after that what’s my monthly, yearly obligation?
I need to calculate the return on investment

[sdrealtor]

mojo
its gone already

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