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[quote=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.[/quote]

Thanks lj…I wholeheartedly agree to doing my best to get the discount now rather than waiting for it. Theres always opportunities right you just have to work to find them

Thank you too BG. I’m looking to put those exact three traits into play here…well I might get a contractor friend to do the fix up part. I could do it, but not as good as he can and he’s looking for work anyways. I do wonder about walking distance…while I do think it would be nice I’d rather just be out of the picture. It might seem weird, but I like the idea of my renters more or less being employees in a way that help pay off my mortgage, provide a little cash flow in the meantime and take care of the place in exchange for a reasonable landlord. I really would prefer not to see them everyday when I’m walking the dog.

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[quote=Kingside]I also live in Encinitas and have investment property in both Encinitas and Escondido.

I agree with the statement that Encinitas is easier to self manage than Escondido.

I would not consider currently buying a SFR in Encinitas for investment based on current prices since they don’t really cash flow, even with the current record low rates.

I think it is a mistake to think in terms of only SFRs if part of your thinking is that you want to invest in a place that you yourself would consider living in. That is a false comfort zone. Also, if you are new and not sure you are comfortable being a landlord, going very low end might be less risk if you decide you don’t like being a landlord and want to bail. The lower end is a bit more liquid of a market.

So I would not only be looking at condos, but would be looking at 2-4 unit multifamily as well. There are a lot of older 2-4 multi=family properties in Escondido. They tend to cash flow much better than SFRs, if you can buy right.[/quote]
Thanks for the sound advice Kingside. Having done it in both areas would you say the peace of mind or closer to it is a good trade off for the additional cash flow from the Escondido properties? I just had a look and there actually are a couple triplexes out there in the 4s that would cash flow better, but they look pretty old. The ones I noticed were on the fruit streets (grape & orange) and appeared to cash flow pretty good from day one. Any experience in those areas yourself? Thank you!

[sdsurfer]

[quote=Kingside]I also live in Encinitas and have investment property in both Encinitas and Escondido.

I agree with the statement that Encinitas is easier to self manage than Escondido.

I would not consider currently buying a SFR in Encinitas for investment based on current prices since they don’t really cash flow, even with the current record low rates.

I think it is a mistake to think in terms of only SFRs if part of your thinking is that you want to invest in a place that you yourself would consider living in. That is a false comfort zone. Also, if you are new and not sure you are comfortable being a landlord, going very low end might be less risk if you decide you don’t like being a landlord and want to bail. The lower end is a bit more liquid of a market.

So I would not only be looking at condos, but would be looking at 2-4 unit multifamily as well. There are a lot of older 2-4 multi=family properties in Escondido. They tend to cash flow much better than SFRs, if you can buy right.[/quote]
Thanks for the sound advice Kingside. Having done it in both areas would you say the peace of mind or closer to it is a good trade off for the additional cash flow from the Escondido properties? I just had a look and there actually are a couple triplexes out there in the 4s that would cash flow better, but they look pretty old. The ones I noticed were on the fruit streets (grape & orange) and appeared to cash flow pretty good from day one. Any experience in those areas yourself? Thank you!

[sdsurfer]

[quote=Kingside]I also live in Encinitas and have investment property in both Encinitas and Escondido.

I agree with the statement that Encinitas is easier to self manage than Escondido.

I would not consider currently buying a SFR in Encinitas for investment based on current prices since they don’t really cash flow, even with the current record low rates.

I think it is a mistake to think in terms of only SFRs if part of your thinking is that you want to invest in a place that you yourself would consider living in. That is a false comfort zone. Also, if you are new and not sure you are comfortable being a landlord, going very low end might be less risk if you decide you don’t like being a landlord and want to bail. The lower end is a bit more liquid of a market.

So I would not only be looking at condos, but would be looking at 2-4 unit multifamily as well. There are a lot of older 2-4 multi=family properties in Escondido. They tend to cash flow much better than SFRs, if you can buy right.[/quote]
Thanks for the sound advice Kingside. Having done it in both areas would you say the peace of mind or closer to it is a good trade off for the additional cash flow from the Escondido properties? I just had a look and there actually are a couple triplexes out there in the 4s that would cash flow better, but they look pretty old. The ones I noticed were on the fruit streets (grape & orange) and appeared to cash flow pretty good from day one. Any experience in those areas yourself? Thank you!

[sdsurfer]

[quote=Kingside]I also live in Encinitas and have investment property in both Encinitas and Escondido.

I agree with the statement that Encinitas is easier to self manage than Escondido.

I would not consider currently buying a SFR in Encinitas for investment based on current prices since they don’t really cash flow, even with the current record low rates.

I think it is a mistake to think in terms of only SFRs if part of your thinking is that you want to invest in a place that you yourself would consider living in. That is a false comfort zone. Also, if you are new and not sure you are comfortable being a landlord, going very low end might be less risk if you decide you don’t like being a landlord and want to bail. The lower end is a bit more liquid of a market.

So I would not only be looking at condos, but would be looking at 2-4 unit multifamily as well. There are a lot of older 2-4 multi=family properties in Escondido. They tend to cash flow much better than SFRs, if you can buy right.[/quote]
Thanks for the sound advice Kingside. Having done it in both areas would you say the peace of mind or closer to it is a good trade off for the additional cash flow from the Escondido properties? I just had a look and there actually are a couple triplexes out there in the 4s that would cash flow better, but they look pretty old. The ones I noticed were on the fruit streets (grape & orange) and appeared to cash flow pretty good from day one. Any experience in those areas yourself? Thank you!

[sdsurfer]

[quote=Kingside]I also live in Encinitas and have investment property in both Encinitas and Escondido.

I agree with the statement that Encinitas is easier to self manage than Escondido.

I would not consider currently buying a SFR in Encinitas for investment based on current prices since they don’t really cash flow, even with the current record low rates.

I think it is a mistake to think in terms of only SFRs if part of your thinking is that you want to invest in a place that you yourself would consider living in. That is a false comfort zone. Also, if you are new and not sure you are comfortable being a landlord, going very low end might be less risk if you decide you don’t like being a landlord and want to bail. The lower end is a bit more liquid of a market.

So I would not only be looking at condos, but would be looking at 2-4 unit multifamily as well. There are a lot of older 2-4 multi=family properties in Escondido. They tend to cash flow much better than SFRs, if you can buy right.[/quote]
Thanks for the sound advice Kingside. Having done it in both areas would you say the peace of mind or closer to it is a good trade off for the additional cash flow from the Escondido properties? I just had a look and there actually are a couple triplexes out there in the 4s that would cash flow better, but they look pretty old. The ones I noticed were on the fruit streets (grape & orange) and appeared to cash flow pretty good from day one. Any experience in those areas yourself? Thank you!

[sdsurfer]

Interesting you went all cash with rates so low…I’d imagine you just did’nt want to deal with the hassle of getting a loan? 10% seems pretty good to me! Thanks for mentioning that…it means a lot more to me since your speaking from recent experience and it went well.

[sdsurfer]

Interesting you went all cash with rates so low…I’d imagine you just did’nt want to deal with the hassle of getting a loan? 10% seems pretty good to me! Thanks for mentioning that…it means a lot more to me since your speaking from recent experience and it went well.

[sdsurfer]

Interesting you went all cash with rates so low…I’d imagine you just did’nt want to deal with the hassle of getting a loan? 10% seems pretty good to me! Thanks for mentioning that…it means a lot more to me since your speaking from recent experience and it went well.

[sdsurfer]

Interesting you went all cash with rates so low…I’d imagine you just did’nt want to deal with the hassle of getting a loan? 10% seems pretty good to me! Thanks for mentioning that…it means a lot more to me since your speaking from recent experience and it went well.

[sdsurfer]

Interesting you went all cash with rates so low…I’d imagine you just did’nt want to deal with the hassle of getting a loan? 10% seems pretty good to me! Thanks for mentioning that…it means a lot more to me since your speaking from recent experience and it went well.

[sdsurfer]

Much appreciated and I was thinking along those lines myself. Since I’m not expecting a lot of appreciation right away that would lead to inland being better short term, but then the coastal stuff would have a better long term benefit because they are making anymore land by the beach and when the appreciation kicks in, which I know it will eventually, I’d be glad I went coastal. I’m also on the fence regarding self management if it was coastal and if I went esco I would definitely get a management company.

Do you mind me asking what you would do?

[sdsurfer]

Much appreciated and I was thinking along those lines myself. Since I’m not expecting a lot of appreciation right away that would lead to inland being better short term, but then the coastal stuff would have a better long term benefit because they are making anymore land by the beach and when the appreciation kicks in, which I know it will eventually, I’d be glad I went coastal. I’m also on the fence regarding self management if it was coastal and if I went esco I would definitely get a management company.

Do you mind me asking what you would do?

[sdsurfer]

Much appreciated and I was thinking along those lines myself. Since I’m not expecting a lot of appreciation right away that would lead to inland being better short term, but then the coastal stuff would have a better long term benefit because they are making anymore land by the beach and when the appreciation kicks in, which I know it will eventually, I’d be glad I went coastal. I’m also on the fence regarding self management if it was coastal and if I went esco I would definitely get a management company.

Do you mind me asking what you would do?

[sdsurfer]

Much appreciated and I was thinking along those lines myself. Since I’m not expecting a lot of appreciation right away that would lead to inland being better short term, but then the coastal stuff would have a better long term benefit because they are making anymore land by the beach and when the appreciation kicks in, which I know it will eventually, I’d be glad I went coastal. I’m also on the fence regarding self management if it was coastal and if I went esco I would definitely get a management company.

Do you mind me asking what you would do?

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