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Old 10-20-2019, 12:01 AM
 
924 posts, read 919,236 times
Reputation: 438

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Yes that is one reason among many why I plan to buy. Long term rents will keep rising as population increases due to housing shortage and immigration. I was at open houses and it was mostly Spanish speaking Mexicans and Indian Hindus there.
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Old 10-20-2019, 07:07 AM
 
Location: Living rent free in your head
35,219 posts, read 16,281,256 times
Reputation: 25833
Quote:
Originally Posted by mixxalot View Post
Yes that is one reason among many why I plan to buy. Long term rents will keep rising as population increases due to housing shortage and immigration. I was at open houses and it was mostly Spanish speaking Mexicans and Indian Hindus there.
If you were to buy a 3/2 bath house and don't need one of the bedrooms you could consider renting it out.
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Old 10-20-2019, 09:01 AM
 
924 posts, read 919,236 times
Reputation: 438
Even better buy a 4/2 house and rent out 2 rooms and profit. Then invest in a four plex.
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Old 10-20-2019, 09:14 AM
 
Location: Living rent free in your head
35,219 posts, read 16,281,256 times
Reputation: 25833
Quote:
Originally Posted by mixxalot View Post
Even better buy a 4/2 house and rent out 2 rooms and profit. Then invest in a four plex.
yep! or you could look in Arden Arcade, Carmichael or Citrus Heights for a duplex or 4 plex. They're cheap considering what they rent for.

https://www.redfin.com/CA/Citrus-Hei...home/163387817

https://www.redfin.com/CA/Sacramento...home/169320673 (both units currently rented for $1100 which is low, you could probably rent one or both for $1500)
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Old 10-20-2019, 09:48 AM
 
924 posts, read 919,236 times
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I probably will get a house first then a fourplex for a long term investment property. Since I am frugal and keep driving my old car, that frees up cash for investing in real estate and dividend paying stocks.
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Old 10-21-2019, 07:40 PM
 
27,177 posts, read 55,045,123 times
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Or you could do what some of have and that is but a 2-4 unit property and live in one and keep the others as rentals... the rents help you qualify.

I did this with a duplex... 3 bedroom house with a small 1 bedroom cottage in back.

I moved into the cottage and rented the house... in 3 years the rent was covering the mortgage and taxes meanwhile providing deductions and depreciation...

Helped several friends do the same back in the day... over 4 units and it no longer qualifies for preferred owner occupied terms.
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Old 10-21-2019, 08:53 PM
 
923 posts, read 341,733 times
Reputation: 2680
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Originally Posted by mixxalot View Post
Hopefully this POS Newsome gets recalled
They're finally floating around hardcopies of the petition around town. I walked up to the store early Sunday morning and there were people setting up in front and a crowd surrounded them. But check out the politics thread to see my full post, as I don't want to side-rail this topic.
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Old 11-09-2019, 08:31 PM
 
924 posts, read 919,236 times
Reputation: 438
I do see prices reduced on homes outside of downtown and east sacramento finally. I have an interview in Elk Grove so if I land that promotion, I would just buy there and not have a bad commute.
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Old 01-06-2020, 12:20 AM
 
Location: 130 Miles East of Sacramento, CA
6,244 posts, read 3,735,882 times
Reputation: 4288
Quote:
Originally Posted by mixxalot View Post
Totally agree most jobs pay way under 100k in Sacramento area and even with two incomes not enough to support current real estate prices. So WTF is driving these insane prices up?
Bay Area transplants.

Especially those who sell their homes for over 600k and can easily pay cash for a brand new home.
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Old 01-07-2020, 06:04 PM
 
924 posts, read 919,236 times
Reputation: 438
Hopefully recession in 2021 changes things a bit as tech firms layoff people
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