OC for 'pre-retirement' investment (Dana Point, Laguna: rental, condo, home)

[Capo1213]

In advance, I greatly appreciate constructive input from thoughtful members of this forum. My wife and i are looking to invest in a home in OC which we will ultimately use as a 'working in retirement' place. We are in late 40's- early 50's, currently live in Monmouth County NJ, a mile from the beach (a charming, quaint town where our Middle-school aged kids ride their bikes to the shore and walk to school...NOT Snookie-ville!)

We are quite familiar with SoCal via work and vacation, and, being from NY/NJ, understand, firsthand, the quagmire of taxes/government/culture wars. Not interested in hashing that stuff out. We are moderate, independent. We're going to do this. We will maintain a small home in NJ.

We dig Laguna Beach, Niguel, Aliso, Dana Point, Newport Coast, and prefer a small single family or semi- attached condo ( distant ocean view, above the marine layer would be nice!) We are looking in the $350-400K range, with enough $ down to make it a solid rental property should we decide to do that for a few years before using it. We are active and inherently beach/ suburban in nature, no problem driving to attractions, then going back to 'burbia for peace and quiet, and we are a long way off from actual retirement. Probably end up working out there for 5 or so years after the move. Schools are not necessarily important for our kids, as we won't move until they are in college, but we want a home in a great school district for value protection.

So, lots to consider. Just looking to bounce this off some folks in the know, And lots of things for the people here to think about and comment on this lazy Sunday morning. Many thanks!

[pacific2]

I don’t think you would go wrong in any of those areas since you are looking at a long-term investment. It’s just a matter of personal preferences in determining which would be the right fit for you. You won’t, however, find much in your price range in Laguna Beach, and probably notihing at all in Newport Coast.

[Charles]

Originally Posted by Capo1213

In advance, I greatly appreciate constructive input from thoughtful members of this forum. My wife and i are looking to invest in a home in OC which we will ultimately use as a 'working in retirement' place. We are in late 40's- early 50's, currently live in Monmouth County NJ, a mile from the beach (a charming, quaint town where our Middle-school aged kids ride their bikes to the shore and walk to school...NOT Snookie-ville!)

We are quite familiar with SoCal via work and vacation, and, being from NY/NJ, understand, firsthand, the quagmire of taxes/government/culture wars. Not interested in hashing that stuff out. We are moderate, independent. We're going to do this. We will maintain a small home in NJ.

We dig Laguna Beach, Niguel, Aliso, Dana Point, Newport Coast, and prefer a small single family or semi- attached condo ( distant ocean view, above the marine layer would be nice!) We are looking in the $350-400K range, with enough $ down to make it a solid rental property should we decide to do that for a few years before using it. We are active and inherently beach/ suburban in nature, no problem driving to attractions, then going back to 'burbia for peace and quiet, and we are a long way off from actual retirement. Probably end up working out there for 5 or so years after the move. Schools are not necessarily important for our kids, as we won't move until they are in college, but we want a home in a great school district for value protection.

So, lots to consider. Just looking to bounce this off some folks in the know, And lots of things for the people here to think about and comment on this lazy Sunday morning. Many thanks!

This is a much bigger personal finance/investment question than it is a location question.

For example,

Do you have any experience managing rental property?
Working with property managers?
Working all this from across the country?
Do you have time to devote to this, especially as active parents of multiple kids?
Did you do the math? At your age, does this really make sense versus something a lot simpler like mutual funds?

[Capo1213]

Originally Posted by Charles

This is a much bigger personal finance/investment question than it is a location question.

For example,

Do you have any experience managing rental property?
Working with property managers?
Working all this from across the country?
Do you have time to devote to this, especially as active parents of multiple kids?
Did you do the math? At your age, does this really make sense versus something a lot simpler like mutual funds?

Hi, Charles, thanks for the reply and the thoughtful questions. Yes to all of the above. I've owned rental properties and am aware of the warts. We're in a good position to do this after considering all of the very questions you have raised. It's now a matter of where and when.