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ctr70
ParticipantThanks every one for the great comments! And especially Temecula Guy, thanks for your very helpful input!
Couple of random comments:
1. I feel pretty comfortable when I can buy a SFR BELOW construction costs. If I can buy it for FAR less than they can build it, if they EVER build a house again in Riverside Co. I’ll be in the money. Some of these houses just have to get back to construction costs and you will have decent equity. And I think they will get back there and I don’t think it will take 10 yrs. They have not built hardly anything in the Inland Empire (or the entire state of CA for that matter) in 3 years, they won’t build much in 2011, so that is 4 yrs with NO new homes being built (or multifamily). Eventually the existing inventory will get absorbed and I don’t think it will take 10 yrs. That could also push rents up.2. I think when you can get an asset below construction costs, 60% below peak price, finance with a 5% 30 year fixed rate, and the tenant can pay that asset off for you in 15 years, it’s hard to see how that is a bad investment.
3. I do worry about the effect of gas prices on rents and values especially in the far flung regions of Riverside Co. Esp if they get up to $5-$6 a gallon. This fear favors buying close in SD condos.
What do investors think of condos in San Diego vs. SFR’s in Riverside Co.? Obviously San Diego is a much better rental market and more premium location than Riverside Co., but SFR’s are a more desirable asset b/c NO HOA risks. The cash flow numbers work for a lot of condos in SD County, and in good locations. The numbers do not work great for SFR’s in SD, even SFR’s in rougher neighs.
Personally I would only go SFR’s in Riverside. If I’m going to buy a condo I would go SD over Riverside in a heartbeat.
Any thoughts on Vegas and Phoenix? I know both are hurting bad. But like Riverside Co. you can buy way below construction costs and get new built SFR’s that cash flow. Yes I know there are crappy areas in both cities, but if you are careful you can pick the better areas. I hear they do rent up if you are very, very careful on neighborhood selection.
My personal goal is to get 6-10 houses paid off in 15 years as my personal pension plan. I have the down payments and can get 8 more conventional loans (I have 2 rentals already). I’m 40 yrs old right now. My plan is 20%-25% down on each and get them paid off in 15 years. Just need to choose where and what to buy!!
ParticipantI think SDSU has been or the verge of busting out for the past 6-7 yrs. They finally kept everyone healthy and not suspended this year. They had the talent those years with Lorenzo Wade, Richie Williams, Kyle Spain, Brandon Heath, etc… but they kept losing early season road games and then getting snubbed by the NCAA committee. Even last year they got robbed with a 12th seed after winning the MWC tourney, when UNLV got like an 8th seed and a much easier 1st round NCAA opponent (and state beat Vegas 3 times last year). Also in 2006 they really should have beat Indiana in the first round.
So I think they have been very good the last 6-7 years, probably sightly underachieved those years, but have finally had everything fall into place this year.
ParticipantI think SDSU has been or the verge of busting out for the past 6-7 yrs. They finally kept everyone healthy and not suspended this year. They had the talent those years with Lorenzo Wade, Richie Williams, Kyle Spain, Brandon Heath, etc… but they kept losing early season road games and then getting snubbed by the NCAA committee. Even last year they got robbed with a 12th seed after winning the MWC tourney, when UNLV got like an 8th seed and a much easier 1st round NCAA opponent (and state beat Vegas 3 times last year). Also in 2006 they really should have beat Indiana in the first round.
So I think they have been very good the last 6-7 years, probably sightly underachieved those years, but have finally had everything fall into place this year.
ParticipantI think SDSU has been or the verge of busting out for the past 6-7 yrs. They finally kept everyone healthy and not suspended this year. They had the talent those years with Lorenzo Wade, Richie Williams, Kyle Spain, Brandon Heath, etc… but they kept losing early season road games and then getting snubbed by the NCAA committee. Even last year they got robbed with a 12th seed after winning the MWC tourney, when UNLV got like an 8th seed and a much easier 1st round NCAA opponent (and state beat Vegas 3 times last year). Also in 2006 they really should have beat Indiana in the first round.
So I think they have been very good the last 6-7 years, probably sightly underachieved those years, but have finally had everything fall into place this year.
ParticipantI think SDSU has been or the verge of busting out for the past 6-7 yrs. They finally kept everyone healthy and not suspended this year. They had the talent those years with Lorenzo Wade, Richie Williams, Kyle Spain, Brandon Heath, etc… but they kept losing early season road games and then getting snubbed by the NCAA committee. Even last year they got robbed with a 12th seed after winning the MWC tourney, when UNLV got like an 8th seed and a much easier 1st round NCAA opponent (and state beat Vegas 3 times last year). Also in 2006 they really should have beat Indiana in the first round.
So I think they have been very good the last 6-7 years, probably sightly underachieved those years, but have finally had everything fall into place this year.
ParticipantI think SDSU has been or the verge of busting out for the past 6-7 yrs. They finally kept everyone healthy and not suspended this year. They had the talent those years with Lorenzo Wade, Richie Williams, Kyle Spain, Brandon Heath, etc… but they kept losing early season road games and then getting snubbed by the NCAA committee. Even last year they got robbed with a 12th seed after winning the MWC tourney, when UNLV got like an 8th seed and a much easier 1st round NCAA opponent (and state beat Vegas 3 times last year). Also in 2006 they really should have beat Indiana in the first round.
So I think they have been very good the last 6-7 years, probably sightly underachieved those years, but have finally had everything fall into place this year.
ParticipantThe Aztecs are on fire! Watching a game at sold out crazy Viejas Arena is the BEST entertainment going in town right now. This is awesome to see. I would love to see San Diego become more of a college basketball town. Going 20-0 and being in the top 10 is a once in a generation type of thing…enjoy it. They may even move up into the top 5 come Monday’s new AP poll.
Huge tests still at BYU and at UNLV. They will also have to get through the MWC conference tourney….and then on to the NCAA tourney which is where they will REALLY have to prove themselves. They need to go deep into the tourney to really get respect on a national level…at a minimum getting to the sweet 16.
ParticipantThe Aztecs are on fire! Watching a game at sold out crazy Viejas Arena is the BEST entertainment going in town right now. This is awesome to see. I would love to see San Diego become more of a college basketball town. Going 20-0 and being in the top 10 is a once in a generation type of thing…enjoy it. They may even move up into the top 5 come Monday’s new AP poll.
Huge tests still at BYU and at UNLV. They will also have to get through the MWC conference tourney….and then on to the NCAA tourney which is where they will REALLY have to prove themselves. They need to go deep into the tourney to really get respect on a national level…at a minimum getting to the sweet 16.
ParticipantThe Aztecs are on fire! Watching a game at sold out crazy Viejas Arena is the BEST entertainment going in town right now. This is awesome to see. I would love to see San Diego become more of a college basketball town. Going 20-0 and being in the top 10 is a once in a generation type of thing…enjoy it. They may even move up into the top 5 come Monday’s new AP poll.
Huge tests still at BYU and at UNLV. They will also have to get through the MWC conference tourney….and then on to the NCAA tourney which is where they will REALLY have to prove themselves. They need to go deep into the tourney to really get respect on a national level…at a minimum getting to the sweet 16.
ParticipantThe Aztecs are on fire! Watching a game at sold out crazy Viejas Arena is the BEST entertainment going in town right now. This is awesome to see. I would love to see San Diego become more of a college basketball town. Going 20-0 and being in the top 10 is a once in a generation type of thing…enjoy it. They may even move up into the top 5 come Monday’s new AP poll.
Huge tests still at BYU and at UNLV. They will also have to get through the MWC conference tourney….and then on to the NCAA tourney which is where they will REALLY have to prove themselves. They need to go deep into the tourney to really get respect on a national level…at a minimum getting to the sweet 16.
ParticipantThe Aztecs are on fire! Watching a game at sold out crazy Viejas Arena is the BEST entertainment going in town right now. This is awesome to see. I would love to see San Diego become more of a college basketball town. Going 20-0 and being in the top 10 is a once in a generation type of thing…enjoy it. They may even move up into the top 5 come Monday’s new AP poll.
Huge tests still at BYU and at UNLV. They will also have to get through the MWC conference tourney….and then on to the NCAA tourney which is where they will REALLY have to prove themselves. They need to go deep into the tourney to really get respect on a national level…at a minimum getting to the sweet 16.
ParticipantRich your are right, my bad, my apologies about highjacking the thread with politics. I shouldn’t have mentioned politics in my post and I would edit and remove that one part of my post, but not sure I can do it with this forum software?
ParticipantRich your are right, my bad, my apologies about highjacking the thread with politics. I shouldn’t have mentioned politics in my post and I would edit and remove that one part of my post, but not sure I can do it with this forum software?
ParticipantRich your are right, my bad, my apologies about highjacking the thread with politics. I shouldn’t have mentioned politics in my post and I would edit and remove that one part of my post, but not sure I can do it with this forum software?
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